Sunday, September 21, 2008

Millionaires view salary differently

A person is worth their salt - goes back to the Roman Empire when soldiers were paid in salt. Salt not only gives flavour but it also preserves meat. In the ancient time periods salt was very expensive commodity and as such was used as currency. Roman soldiers were paid with salt...hence the phrase a person is worth their salt. Salt or 'sal' is where we get the modern day word of 'salary'.

Millionaires view their salary in different terms to the working class. Millionaires view their salary as a method, a vehicles to enrich themselves with, through investments, offerings (charitable giving) etc. Working class people view their salary as a way to buy more stuff Now. When working class people get a salary increase, they spend more...millionaires, invest more. You see, a millionaire knows a very important principle of wealth management. Money invested wisely, through compound interest, can actually make you more money.

Money makes money. Invest wisely, consistently and your money will start to work for you, effectively making you more money. Money makes money, but debt costs you money. Debt is expensive,and the more you have the more it costs you, thus, you are effectively working for your creditor. In years gone by, that was known as slavery - now we call it credit!

Not all credit is bad, but when you are working a 40 hour week just to pay your creditors, you cannot get ahead. You are in fact owned by your creditor. Debt is far more expensive than you can afford. Millionaires think differently...investing their money in the stock market, real estate commodities are all excellent vehicles to wealth creation.

Friday, September 12, 2008

As a man thinks

One of my psychology lecturers related this story to illustrate the power of the mind. We don't know the full extent of the mind's ability. At the risk of sounding like a new ager, I am going to explore this God given organ from a biblical perspective.

The story goes that during the depression a man was out walking around the railway tracks. He had been turned away again and again. This constant rejection (as a result of a bad economic climate) led him to a depressed mind set. The weather was cold and he was tired. He found an empty Railway Carriage and climbed in. 

While he was asleep, the carriage was shocked up to the train and the door was closed and locked. The train's motion awoke him, and he discovered to his horror that he was locked in a freezer truck and could not get out. He wrote his story on the walls and died of the cold.

The truck was opened to find the dead man in the freezer truck, but what had the discoverers in a quandary was the fact that the freezer was not on. The man died because he believed the truck was a freezer and was getting cold. He believed he would freeze to death and so he did!!

he university I studied with conducted many experiments with our sports teams. The discovery was that teams that practised on average won the same amount of competitions as the teams that practised in their imagination!

Cave divers will 'see their entire dive in their minds before they venture into the cave'. Millionaires have a mind set different to their less fortunate associates. Successful people expect to be successful, believe they are successful and therefore succeed. People that fail often, believe they are failures, expect to fail and there fore do fail. Its a self fulfilling prophecy.

Psychologists can tell you all about the power of suggestion. You can suggest success to yourself and as long as you believe it, it will happen. This is not new age, this is Bible. Proverbs said it a man thinks in his heart so is he. God told Abraham to lift his eyes to the stars. God told Abraham to focus on the stars. God changed Abraham's mindset be changing his name from Abram to Abraham. This is a powerful organ that we don't quite understand yet...but the bible has many of the answers.

Change your thinking (Romans 12:2). You too can be a millionaire. What if everybody thought like this? Well, the answer is simple, over 90% of people who read this will dismiss this as a crock. Thus there is never a possibility of there being too many rich people...people are wired to think negatively, and inevitably this negativity kicks in. This new mind set takes time to manifest. Just because you think differently today, does not mean you will be rich tomorrow. It takes years to manifest the changes. 

After all it took years for you to get where you are, it will take many years to undo learnt behavior. Once the thinking becomes believing, then your words will change. As your words start to change s your actions will change. As your actions change, so your habits begin to form. As you form habits, so your destiny changes! This is a lot of changes that have to occur before you have the courage, tenacity and drive to want to be a millionaire?

I know, being a millionaire is not all its cracked out to be, right? Have you heard of the fox and the sour grapes? My point is...only a few will really test this out, and even fewer will carry it out to the very end. Its these few that will see the difference..

Thursday, September 11, 2008

Millionaire mindset

Proverbs 23:7 " a man thinks in his heart so is he"

The bible says that we are responsible for our own success and wealth. In Joshua 1:8 it is clearly outlined that that success and prosperity is a result of our own thinking.

The bible also says that God takes pleasure in the prosperity of His servants. To this end, it seems logical that God wants us rich, then we need to change the way we think about wealth, and gaining it. The word says that it is the LOVE of money that is the root of all evil, and not money as such. Money is neutral, neither good nor bad. It is a tool in the hands of the righteous man.

Romans 12:2 tells us to change the way we think. I am going to be blogging about a millionaire mind set. If the we think like the rich do, then we will become rich too. Rich people, to be precise, millionaires think totally different to the rest of the world. The super rich think and consequently act differently. It is my hypothesis that if you think like a millionaire you too will become a millionaire. Can it really be as simple as that? Time will tell as I am conducting this experiment on myself and my finances, I will document the changes, if any, in this blog.

Five ways in which I have found millionaires think and therefore act differently.
1.  Millionaires read 2 books per week at least. Two non fiction books, with a self improvement theme, or biography. 
2. Millionaires invest more, save more and view investments as a vehicle to wealth.
3. Millionaires protect their time, especially from time wasters. People who drain their time, and don't input are considered time wasters.
4. Millionaires give to charity or Church regularly. In other words, tithing is not only biblical but if you want God's blessing, you need to be obedient to His word too.
5. Millionaires invest in their own education. Millionaires see the value of improving their abilities, and education.

I will be embarking on this program and elaborating on this in this medium as I proceed.  Please consult your own financial advisor before making any investments. This is not financial advise, just an experiment that may go horribly wrong. It may also turn out to be a m major success...