Saving, Spending and Investing Philosophy
How you think about saving, spending and investing [about money in general] affects where you end up financially. If you think wealth is limited and you’ll never make any, you’re absolutely right. If you think wealth is unlimited and you just have to figure out how to get your share, you’ll be right too!
and you just have to figure out how to get your share, you’ll be right too!Its a self-fulfilling prophecy where your actions follow your beliefs. Either spend time learning how to make money and eventually start making a lot of it, or you give up, figure you’ll always be poor and you never figure out how get ahead in life.
Hanging out with like-minded people also has a big affect. Do you spend most of your time with people who complain about how unfair life is, how they’re always broke and how they can never catch a break? Lose them! Their negativity will drag you down too!
Always try to surround yourself with successful people, who have achieved a lot in life and are constantly looking for the next opportunity. These people usually think there’s ample opportunity in life for everyone and rarely complain about getting the short end of the stick. They take responsibility for their failures and don’t waste time blaming others for their misfortunes. A lot of them are more than willing to give you insight into how to achieve wealth yourself and usually for the price of a lunch or dinner will spend a few hours with you. Thats much cheaper than spending $5k on mentoring courses that seem so popular nowadays!
Anyway, if you’re starting out I recommend you read books that will change your thinking and get you into the mindset of becoming rich. After that you can figure out how you want to actually make money be it through stocks, commodities, real estate, a business or working longer hours.
Here are some basic investing books and when you’re done with those, you can read my favorite selection.
Getting wealthy isn’t easy. Its takes time, effort and dedication but its not impossible. Remember, no one ever got wealthy sitting at home on their couch!
On the other extreme, here’s some personal philosophy from Gene Simmons, the front man for KISS
“Be clear, be truthful.
Stand there proudly,
unapologetically,
unabashed, and say,
‘I love cash.
It will get me
everything
I want in life!’”
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
-
Sam Zell Imparts His Wisdom One of the advantages of going to a top-tier MBA program is that you get to meet a lot of succesful, well-known people. Last week, billionaire real estate investor Sam Zell was on campus and gave an hour long speech about his views on the economy. He made an analogy...... - Rogers Still Bullish On Commodities Jim Rogers recently gave a presentation in Vancouver, Canada where he reiterated his belief that we're in the middle of a commodities bull market. His logic is simple: the supply of paper currencies in increasing while the supply of hard commodities like aluminum and copper is dwindling. He also believes......
- What sort of Life Insurance do you have? Back from my so-called vacation. Sadly, my Dad passed away right before I left so I spent most of my with funeral arrangements and sorting through his finances. A few important things I noticed. While my Dad was a very well-respected & apparently very well-known doctor with legendary medical knowledge,......
Related Websites
- spend less than you earn - the wrong way to think The wrong way to think: "spend less than you earn." If you have been reading about personal finance for any length of time, I'm sure you've come across this advice before. It is the wrong way to think, and it will not make you rich. Don't get me wrong:......
- Develop Your Financial IQ: Chapter 2, Ways To Achieve Wealth 2 Wealth Building Models Everyone wants to make more money, but people are generally split into two categories: Those who bring results after they are promised wealth first Or Those who bring the results first, then are rewarded by others afterwards Let’s explore the two groups in depth. Those who......
- How to Create a Monthly Budget with Nothing but Envelopes More often than not, Americans will spend more money than they make. The country as a whole actually has a negative savings rate. People are borrowing more money than ever before to finance lifestyles they cannot afford. A major cause of this impending financial disaster is that most Americans donât......
[All content is copyright of Living Off Dividends & Passive Income]
Leave a Reply