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HAVE YOU MEASURED YOUR WEALTH?

How do you measure true wealth?

 

In life, we tend to measure wealth by physical items such as possessions and money; in truth, these are a good way to see how financially secure one may be. Within this, we also look towards how good of a life someone is enjoying, how well they garner support and influence opinion, and even whether they attract friends to widen their social circle. However, is material wealth really the best indicator of real wealth?

 

In short, the answer would be ‘no’ because material wealth doesn’t cover the wealth that is earned such as goodwill, respect, reputation, and recognition. Furthermore, it completely ignores personal values and the emotional side of a human being. Let’s take a deeper look at these;

 

Respect and Recognition – In essence, this often comes with age and how people grow both as a person and in their professional capacity. Also, it can show how people contribute and influence within their personal and vocational lives.

 

Wealth Gold Key Representing Riches And Prosperity
Wealth Gold Key Representing Riches And Prosperity

Reputation and Goodwill – Over the years, reputation and goodwill are both earned steadily by being someone who is trustworthy, reliable, and balanced. Often, it will come in achievements and how society perceives those, but it also comes with simplicity and humility.

 

Emotional Balance and Empathy – Ultimately, this can be a little harder to notice because people will often be very different in public than they would in private. Despite this, there are key scenarios that give people away from such as when they look for support or when others are at their mercy. Also, it can be seen when dealing with those who differ in opinion.

 

Fair Play and Justice – With this, it mainly comes from the principles that one adheres to, and this can develop from an upbringing, courage/conviction, and personal values. Often, those who are willing to hold the minority point of view is considered the strongest of all.

 

In these four sections, you can see that a lot of ‘worth’ comes from what other people think of you and this is important because it suggests the legacy that you will leave behind. Before finishing, we have a couple of simple exercises to try today;

 

#1 – Right now, grab a piece of paper and write down five things that you believe people value in you. Then, write a couple of criticisms and what you can do to improve these things.

 

#2 – Are there any social problems that tend to annoy you? If so, are you going to do something about it if something can be done at all?

 

#3 – Finally, try and test yourself on some of the classic scenario-based questions to gauge your responses. For example, would you point out that a teacher has given you extra marks if it means that you fail an exam? Would you hand in a missing wallet? After lying about not having someone’s possession but actually losing it, would you have the courage to hand it back after finding it?

 

As there is more to life than material wealth, it can be important to take the time to assess all sides of wealth and how you can become a better person all-around.

THINKING LIKE A MILLIONAIRE

How to develop the mindset of a millionaire requires dedication but possible with the right mindset

When you sit down and really assess your primary goals in life, most, if not all, will revolve around money. Of course, this is entirely natural and not a lot of people would turn down the chance to become a millionaire. As it has been said for many years, money makes the world go round. However, you will never reach this point unless you adopt a millionaire mindset and here’s why.

In essence, the mindset in question looks at how you approach financial decisions and how you think regarding money. Unfortunately, not many people realize that they have to adopt this mindset right now – even when a million dollars seems a lifetime away. Not only will this help you to achieve the million dollars, but it will also then help you to keep hold of it once it’s yours.

How? – One of the things we can do in learning how to achieve this mindset is to look towards people who are already there. With that in mind, let’s look at some top tips from the millionaires themselves.lifetimestock-151776-l

Future Comes First – At all times, you should know exactly where you want to go and how you will get there. With this in mind, you should have achievable goals that are written, specific, adjustable, realistic, and WILL come true. After you have your goals, work out the journey.

Evaluate Everything – Rather than just thinking about how something will affect you now, think about the future too. For example, the process of buying a car is the perfect example. Currently, you might consider how much you can pay each month. With the millionaire‘s mindset, you will think about the total cost over the course of its life.

Save > Spend – Firstly, and you should always look to save money first and then spend whatever is left. If you are spending all of your salary, there is no way you can ever progress. However, with just 10% saved each month, you get closer to your goal every month. Currently, you might be thinking ‘I have no money to save’ but that will soon change once you assess how much you spend on movies, coffee, clothes, eating out, etc.

debtLose Debt – By using the very definition of debt, you owe more money that you have – ultimately, this means that debt is a burden. If you ‘need’ to purchase something, wait until you have the money for it rather than buying now and creating an ever-growing debt. If you need it later, you can go ahead and buy it. More often than not, you will find that the purchase suddenly seems insignificant.

Finally, you have to believe in yourself and in your ability to achieve your goals. If you don’t believe in yourself deep down, you are already starting behind everyone that does have confidence. As long as you have a good plan and have the confidence in your own ability, there is no reason why you can’t succeed!