A note from firstname.lastname@example.org for Tuesday September 22, 2009
Well hello there all and welcome to the first day of the Fall season. This is an awesome time of the year when we get to reflect on the Summer experiences, and then set up to fulfill the goals and intentions we set out in January.
Recently, we at The Wealthy Attitude sponsored some networking events as a way of introducing ourselves to our new community here in The Okanagan Valley. As is usual we get asked often, "just what is The Wealthy Attitude"? You can see how we respond here: What Is The Wealthy Attitude
In support of our little adventure here every day, we are supported by some amazing conrtibutors. Another new one contributes something today that fits exactly with what we propose when she asks...
by Trish Wagner
How do you feel about money? Most people see money in terms of black and white, either you have enough of it or you don't. Of course there are many levels of "have it" or "don't" but let's assume you fall into one of those categories. How does your attitude or feeling about money affect the rest of your life? Can changing your attitude change your financial status?
What is your money mentality? Your attitude toward money is formed over a lifetime of financial experiences. It starts when you are young and can be greatly influenced by your upbringing. Children learn from example; if your parents had a negative attitude about money or wealth you might be more inclined to mimic those feelings. Have you ever heard or perhaps spoken the following phrases in regards to money?
- This is the way it has always been
- The rich get richer while the poor get poorer
- We can't afford that
- There is never enough to go around
- Our family has always been poor
Change your attitude to change your life
If you feel you are "destined" to be poor or that you will never have enough money to live comfortably you could likely fulfill that prophecy. A common factor that contributes to generations of families living hand to mouth is the belief that you have to have money to create wealth. While in theory this is somewhat true, it does not mean that you have to start out with money in order to be successful financially. What you do have to have is a positive attitude, short and long term goals and a plan to reach those goals. There are endless rags-to-riches stories about individuals who overcame growing up in poverty who turned their lives around. You can, too, by doing the following things:
- Believe in yourself and your ability to find success. Nothing in life comes easily and changing a lifetime of negative financial experiences will prove to be hard work. You must truly be ready for change and committed to the hard work required to achieve success.
- Debt is a four letter word that makes it almost impossible to achieve your financial goals. There are several methods to get out of debt and you will have to examine your own situation to determine what method is right for you. Whatever route you take reducing or eliminating your debt is imperative to your financial success.
- Set short and long term financial goals. Once you eliminate your debt you can begin to focus on establishing financial goals. To break the cycle of debt you must have money set aside in savings for unexpected expenses. Learn about the importance of emergency funds, saving for retirement and investing.
- Do not set yourself up for failure by expecting overnight results. Unless you win the lottery or find yourself the recipient of some other windfall, changing your financial status will require hard work, sacrifice, determination and a strong desire to improve your situation.
Trisha Wagner is a freelance writer for Destroy Debt.com, a community featuring forums. Trisha writes regularly on the topics of getting out of debt and personal finance.