The rich and the poor definitely have different perspectives about money.
Robert M. Gouge says the rich’s mindset of wealth is a by-product of the amount of money they have. That explains why you have to change the way you think about money if you want financial freedom.
Here are practical tips for changing the way you think about money:
1. Think of money as a tool not as a result
According to Robert M. Gouge, many people view money as a result. That is, something they gain from going to work or lose when they spend on bills and other expenses.
Rather than viewing it as a result, money should be seen as a tool people have to acquire in exchange for their time and energy.
The rich thinks and sees money as a tool they acquire to make more money. They use it for investment and consequently grow their wealth.
2. Focus on prosperity not debt
Focus on prosperity not debt when you think about money
A lot of people tend to focus more on spending their money to pay bills and paying off their debt.
While it is a good idea to pay your bills on time and pay off your debt, you shouldn’t let it distract you from making money and creating wealth to meet your financial goals. Over-concentration on your debt will help you make decisions that will aid your financial freedom.
3. Don’t put money on an emotional pedestal
Preventing yourself from overspending is one way to to stop worrying about your finances
Some people’s mood is determined by money. They are never happy when they don’t have much money in their bank account.
They allow money to dictate their happiness, appearance and state of mind.
No matter the level of your financial stand, don’t let money determine your emotional state or your self-worth.
Advising people not to get emotional about money is honestly easier said than done, yet it is a solid advice that has to be taken to encourage people to keep a positive mindset when they are broke.
