Changing your relationship with money is as easy as changing your mind. I’m going to tell you how.
This has nothing to do with the money someone has in the bank. It’s all about their mind and their views.
I’m also going to give you a breakdown of these mentalities. It’s important to recognize where someone’s mind is about money.
You only want high quality people with a rich mind in your life.
First, credit where credit is due.
I like to give credit where I owe it.
I didn’t come up with this. I’ve worn this piece of information around my neck for ten years, though.
An underpaid high school economics teacher who was up to his eyeballs in student loan debt told me about money and the mind.
Sometimes, good information comes from an unlikely source.
I paid attention then. I probably wouldn’t have now, considering his circumstances. I’d have missed out.
Let’s get classy, class.
Everybody thinks there are three “classes”. Upper class, Middle class, Lower class.
This isn’t how caste systems really work, but this is the popular myth.
There are some slight differences between the Lower and Middle classes, but they have more in common than not.
The distinction between these classes has nothing to do with income or net worth. I don’t care what the IRS says.
The distinction between these classes is a mental one.
The Poor Man’s Mind – AKA “Low Class”
The man with the poor mind never has any money.
It doesn’t matter how much money he makes, he never has any money. He spends every red cent he earns.
The only purpose of money, in his mind, is to spend it.
Everybody knows a deadbeat. Hell, most people know several.
There’s a couple in every family. You can see a lot of them out in the wild, too.
Drunks, junkies, trailer trash, hood rats, you name it.
The only good thing about a deadbeat is that they’re obvious. You can spot them right away.
Then you can make sure they’re never a part of your life. There’s no hope for them.
The High-Income Idiot
There are wealthy men that have a poor mind. They don’t even realize they’re poor.
They won’t find out until their income is interrupted and the money runs out.
Someone can be wealthy and poor at the same time if they have more dollars than sense.
People who are famous for being famous are like this. Celebrities who haven’t actually done anything. Athletes that have been poor all their life.
These people at least have hope. If they can fix their relationship with money before their income decreases, then they can be saved.
The problem with that is that it has to be their own idea. People like this usually have an appropriate ego, and consider themselves a success.
They’re not going to take advice from someone they consider less successful, no matter how good the advice.
My advice? Don’t waste your time. Fixing someone’s problem isn’t your problem.
The Poor Man’s Mind – The Reprisal (“Middle Class”)
That’s right, “middle class” people are poor too.
The sad part is, they think they’re rich. At least most poor people know they’re poor.
Actually, the only people who think they’re middle class are higher income poor people who aren’t wealthy.
This might be a little confusing for you.
The Poor Mind and Methods of Payment
People who are considered poor spend their money in cash.
People who are considered middle class spend their money in credit.
The fact that a bank is involved doesn’t change anything. Middle class people are spending all of their money just like poor people.
Because they ARE poor people.
They’re of the same mind. Money is for spending.
The truth is that the middle class is dead, and has been for years.
If you want to read an excellent book explaining how the middle class died (that costs less than one dollar) then read Choose Yourself! by James Altucher.
Let’s look deeper into the mind of the “middle class”.
The Method of the “Middle Class”
Middle Class Melvin works a white collar job and lives that white-hat life. He lives the life he was “supposed to”.
He “buys” a house, he “buys” a minivan, and he “buys” an entire house full of furniture. Middle Class Melvin “buys” a lot of things.
He “buys” so much, everyone thinks he’s rich and he loves the attention. He “buys” himself into a hole.
I say “buys” instead of buys because he doesn’t actually buy anything. The bank owns the house and car. Several credit card companies own everything else.
All of his income is spoken for. Middle Class Melvin has a tight budget. His money is already spent before it’s made.
He “buys” things on credit instead of cash, so he has money. Except he doesn’t.
One double-draft out of his bank account would send the whole house of cards tumbling down. It may not crash after the problem itself, but it would cause him to dip into his savings.
Because of this, every time there is an unexpected expense outside of his budget, Middle Class Melvin is constantly dipping into his savings.
He thinks that because he is saving money, he’s going to be rich one day. He doesn’t realize that just saving money is just wasting time.
Middle Class Melvin is never going to be rich. He has the mind of a poor man, and he doesn’t even know it.
You don’t want to be like Middle Class Melvin. You don’t want to be poor.
Don’t worry, almost everyone starts out with a poor man’s mindset about money.
The trick is in not staying that way.
You want to be rich. Filthy, stinking rich. Right?
The Rich Man’s Mind
The rich man has his mind right. He knows that money isn’t for spending.
If you have the mind of a poor man, you’re probably wondering what money is for. If not for spending, then what?
Money is for living free. How does money help you live free?
Simple: by making you more money.
The rich understand this and make good use of it. The best thing to do with your money is to make more money.
They do this by investing their money in new streams of revenue.
Take the money from one stream of income and buy another one. They use the money from these two streams to buy two more. Lather, rinse, repeat.
It really is that simple to change your mind about money. Stop being poor, start being rich.
Making that Internet Money
When your money is making more money, more of your time is free. This gives you the opportunity to add even more streams of revenue online.
When you don’t have to worry about how you’re going to pay the bills, you’re free to make sure you never have to worry again.
Starting up online is far easier (and cheaper) than starting a physical business, but you don’t always make money up front.
You have more options than ever. It’s a beautiful thing.
The beauty of having a rich man’s mind is that you don’t need to be rich to get started.
If you don’t have any income now, get some. Even if you have to get a soul-sucking job. You won’t be there too long.
Use the income to pay the bills and use your free time and spare change to acquire another stream of income. It doesn’t matter how small it is.
The more time and money you spend doing this, the larger your streams become. Eventually your streams become rivers and you can quit that job.
You can walk into the boss’s office and say, “Fuck this, I quit.”
I hate jobs and haven’t had one in almost 4 years. If I were just starting out today, though, that’s exactly what I’d do.
You just have to get started.
This isn’t some Law of Attraction bullshit that magically attracts wealth. You still have to do the work.
What you’re changing here is your relationship with money.
Repeat after me:
Money isn’t for spending on useless garbage. Money is for making more money.”
If you have to tell yourself this every single day, do it. Whatever it takes.
You have to make the paradigm shift from spender to investor. Every purchase must be an investment.
Everything you buy must enrich your life in some way. From food to equipment to businesses.
Don’t spend another day throwing your money away.
Change your Mind about Money.