Don't think about investing, depositing, and earning for now. To begin with, you must embrace the idea that you will be able to reach the amount you desire sooner or later. This journey will not be a walk in the park—you will have to study a lot and be resilient in the face of setbacks. Ready to dive into a sea of inspiration? Read these inspiring quotes about money to fuel your drive to succeed.
There is a difference between being poor and being broke. Broke is temporary. Poor is eternal
― Robert T. Kiyosaki, Rich Dad Poor Dad
Two people who are currently without money can adopt two different strategies: while one will think about how to recover his capital, the other will recognize himself as poor. While the former will look for ways to multiply his small capital, the latter will treat money as a way to survive today. Why does this happen? Only because of different mindsets and approaches to money.
However, if you are more like the second person in the example, you urgently need to change your approach to life. It is not just about financial literacy as you learn about investments and markets, risks and opportunities, loans, and stocks. It's also about giving yourself permission to become rich someday, permission to start your long journey today. If you feel inspired by this approach, you can also explore our summary of Rich Dad, Poor Dad.
If you do not see riches in your imagination, you will never see them in your bank balance.
― Napoleon Hill, Think and Grow Rich
You have probably heard that for a beautiful person, 10 percent is beauty, and 90 percent is confidence in their beauty. While money doesn’t quite work the same way, there’s a similar analogy: to accumulate wealth, you must first believe in your ability to be wealthy.
Write down the monetary goal you would like to possess, even if that sum looks unimaginable to you at this stage. Now use analysis, and think about how you could make that money: what you would sacrifice and what you would conversely bring into your life. Now, start using daily affirmations that will help you get closer to that goal. Additionally, we suggest you read our Think and Grow Rich summary to help you on your way to mindset change.
It’s understanding money – not just having it – that equals empowerment.
― Erin Lowry, Broke Millennial
We all know someone who once stumbled upon a windfall but failed to keep this capital, wasting it on trifles. Such situations arise everywhere, not because today's youth think only about themselves—no, the ability to handle money is a tough skill to acquire for many people, which is shaped by many psychological factors.
The process of discovering your psychological issues in the context of money might be complex. You may even seek the help of a therapist to learn effective techniques and sort yourself out. However, working with a personal finance manager will eventually lead you to make friends with your money and become confident in your capital. It is essential not only to have money but to be able to save and multiply it. If you’re struggling with this, our Broke Millennial summary can help you grasp this idea better.
Money is psychological. Our financial decisions are directly impacted by our mind-sets and how we are feeling in a certain moment, and in turn these financial decisions directly impact our longer-term outcomes.
― Tori Dunlap, Financial Feminist
Many people experience some insecurities when it comes to money. People of color, women—representatives of all groups who have suffered years of discrimination—may still not be fully aware of their ability to make a lot of money because, somehow, they are still all in the abyss of insecurity. Outsourcing your wealth is a long and bumpy road that will require a lot of spiritual and physical effort. However, your main task at the initial stage is to believe that you can do it.
Remember that money is primarily a psychological force. Years ago, women could not have their own credit cards for fear of becoming too independent. Do not let your head get in the way of saving and increasing your financial resources today. Say to yourself, "Yes, I can definitely do that." In Financial Feminist, Tori Dunlap encourages you to do exactly that — here is our summary of the book.
Spend extravagantly on the things you love, and cut costs mercilessly on the things you do not.
― Ramit Sethi, I Will Teach You To Be Rich
Sometimes, we spend a lot of money on unnecessary things, not because we do not understand some principles of financial literacy but because we lack the understanding of ourselves in the first place. Think about those unused subscriptions draining your wallet. What about impulse buys that also make you feel guilty?
In order to deal with this, make a list of things you love where you rank your priorities. Now, you must give up anything that does not bring you joy. In addition, to better regulate your spending on the things that really matter, you can also use different tools to distribute and save money, like signed envelopes that you seal after saving money, shielding you from unwise purchases. I Will Teach You to Be Rich by Ramit Sethi can help you learn in detail how to achieve this. Check out our summary of this amazing book.
While one person treats money with contempt and associates it with relentless cycles of capitalism, another uses capitalism to their advantage. However, it is worth being mature enough for the second path because money does not come easy. To begin with, you must firmly believe that you can actually earn money. Then, explore the strategies to multiply it even more. There may be many barriers in your way, especially if you are a member of a discriminated group, but persistence is key. Go ahead, make lists, be confident and decisive!
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