brainspaceball

Hi there!

Its been again quite long since i posted here. Recently i received couple of feedbacks telling me that i should come up with a theme on a monthly basis so that i can keep my readers coming in. Well that was an excellent feedback and to be frank, it has been back of my mind to do similar post but just that i am trying to put time to sit down to write. So to start of, i like to talk about our mindset towards money for the month of July!

Being a financial planner, i have met numerous people ranging from low income family to high net worth individuals. So basically what is the main difference in them other than the fact that the high net worth are richer? If i can do up a summary, it would be their mindset towards money.

To start off something, let us examine how normal people view money. They regard money as something that they must work hard for and think it is quite hard for the money to work for them. They view money as the root of evil. They look at money as a mean for them to live day by day rather than looking at it as a resources to allow them to invest and earn better returns. When they want to buy things, they rather save up than to think of ways to increase their income to support the things they want to buy. (Such thinking may not applicable to all) Generally if people view money in this manner, it is no wonder that they don’t become wealthy.

So let’s take a look at how high net individuals view of money: They regard money as a way for them to do bigger things in life. They invest in business or property to yield them better returns. They will always look for ways to increase their income rather than saving up. In fact, most of them are quite generous in spending on useful things such as investing in books or self improvment course. They see money as a way to get them to a different stage of lifestyle. They have a totally different mindset towards money!

Therefore to kick start an individual view towards money manaagement, one needs to re-adjust their mindset. We become what we think so that’s why it is crucial to talk the root of all problem. I will talk more in depth in my second part on how i can share with you the secret to shift your mindset towards money =) 

Remember: The love of the money is the root of all evil and not the money itself =)

Related posts:

  1. July Theme: Shifting of mindset towards money (Part 2)
  2. August Theme: Money and Couple
  3. Do You Have The Passion To Save Money!
  4. Where should you park your money
  5. What type of saving plans suit you?