As 2019 is ending, many of us have already set some goals for 2020. Saving money tends to be one of the most popular New Year resolutions, but by February, those goals are often forgotten.
At the same time though, we hear how more and more people struggle financially, no matter their income bracket.
The truth is that the only thing that sets apart poor people and wealthy people, is their mindset. Without even realizing, you might have certain beliefs or mindsets that are holding you back and stop you from moving forward.
While only thinking wealthy won't surely make you rich, that's where the real magic starts. If you wish to become wealthier in 2020 and finally get rid of your financial stress, you need to develop the following 6 mindsets.
1. You're solely responsible for your financial wellbeing, not anyone else
The most important principle that surprisingly many don't realize is the fact that you're solely responsible for your financial wellbeing. Not your friends, your partner, your boss or the government. Only you and no one else.
Thousands of people blame others. Whether it's an employer who doesn't give a big enough salary, lack of contributions by the government or companies raising their prices, there is an endless amount of excuses one could conjure up.
Wealth starts from the moment when you realize that everything is up to you. No one is giving you money for the privilege of existing. If you wish to develop a better financial state, you need to stand up for yourself and work on your financial wellbeing every single day. Sitting from 9 to 5 quietly behind your desk and complaining about small paycheck does not constitute as doing something for your wellbeing. Absolutely everything starts from yourself and your actions.
2. Forget about “get rich quick” strategies
Wealthy people know that wealth doesn't happen overnight. It's the fruit of long and hard labor. Did you know that actually, it takes about 20 years for an average wealthy person to rake together their first million?
To become wealthy, you need to be patient. There are no fast lanes to richness. The only people getting rich from “get rich quick” schemes are the owners of those schemes.
3. Grab every opportunity
Have you ever said ‘no' to an offer because it didn't pay enough?
Wealthy people know that even a very small opportunity – even a five-dollar job – can turn into something big. If you leave a great lasting impression, you never know what that might bring in the future. Don't spit in the face of opportunities in the hopes of hitting one big jackpot and getting a job that pays you a million within a year.
4. Wealth itself should not be your goal
Many people dream about becoming a millionaire but in all honesty, they don't even know why. They just believe that once they hit a magic number on their bank account, they'll live happily ever after with that money.
The troubling fact is that money won't make you happy.
Wealthy people know that money is not the end goal. It's a byproduct of your work but that work is something that gives them satisfaction, makes them happy and gives something back to the world. Wealthy people don't work to make money – they work to create something great. Money is a result, not a goal.
5. Nothing is free and it never should be
Many people dream of big paychecks while also hoping to get everything for free.
The fact is that the world can't work that way. For you to have a bigger salary, your employer needs to also earn more and that “more” comes from the products and services offered. If the services cost nothing, the company can't pay any salaries. It's as simple as that!
There's nothing wrong with asking a fair price for products. Wealthy people value products and services and don't mind paying for them. Don't look for the cheapest price or free lunches.
6. Earn and invest, not spend
Those who dream about becoming a millionaire also dream about buying new gadgets and essentially just blowing that money away. That's what wealthy people do, right?
Wrong. Wealthy people are focusing on increasing their income and investing, not spending all the time. Instead of spending countless hours scrolling through Amazon listings, they scroll through stocks and investment opportunities or learn more about interesting topics to apply that knowledge in their life.
The best thing you can do for your financial wellbeing is to get rid of your habit of swiping that credit card all the time. You don't need a new iPhone. You don't need all the new gadgets. Living beyond your means and spending money senselessly means you'll always be stuck in that endless loop of poverty.
Changing your mindset is not easy and many of these mindsets tend to be rooted so deep you might have thought to yourself that none of these apply to you whatsoever. Next time you're thinking about your monetary situation, try to dig deeper into your thoughts and beliefs. Are you holding yourself back?
Everything starts with your mindset and small steps. Every day can take you one step closer to wealth or one step closer to poverty.