DOs and DON’Ts of Money Management 

Regardless of what you do for a living, it takes a lot of expertise to become financially successful.  But truth be told, book-smarts aren’t the only thing that go into building wealth.  After all, life is also a philosophical experience.  The ideas and principles which guide your decision-making play a tremendous role in how much money you make throughout your lifetime. Author R.L. Adams advises that “When people lack money, scarcity thinking sets in. The scarcity mindset is negative and thinks that there's never enough of something to go around. When you find yourself thinking like that, do everything in your power to move into an abundant mindset. Our thoughts are incredibly powerful.”

Three Ways to Make Money

Here are a few rules to live by if you don’t want scarcity to drain your wealth:

1) DON’T Put Profit Over Passion

There’s an ancient proverb which says “Find something you love to do, and you will never have to work a day in your life.” The truth behind this proverb is eternal.  Obsessing about making money from the work you do actually interferes with the satisfaction of passion.

2) DO Teach Yourself to Be a Good Sportsman

The road to wealth is paved with many frustrations and failures.  Financially successful people understand that it’s impossible to succeed without surviving these obstacles.  Don’t be a sore loser when you experience losses in life.  Learn from the pain, regroup, and keep working towards your goals.

3) DON’T Let Success Inflate Your Ego

In the same way that failure is a part of life, the road to wealth is also paved the many small victories.  And victories can be just as corrupting as failures.  Whenever you notice yourself making financial progress, avoid the temptation to be arrogant.  Keep a level head, and continue to make common-sense decisions.  It takes a lot of sobriety to build wealth, and it takes even more to keep it.

4) DO Keep an Open Mind

Being set in one’s ways is one of the costliest traits a person can possess.  This is because business is particularly dynamic in nature.  It is far easier to build wealth when you have a mind which is open to innovation.  Be receptive to new technologies, and embrace forward-thinking ideas.

Conclusion

Making money isn’t just a function of hard work.  It also has a lot to do with the way we interact with the world around us.  Our attitudes can determine whether not we make money.  Our behaviors can determine whether or not we make money.  The more attention you pay to your mindset during life’s fluid circumstances, the easier it is to make the most out of your blood sweat and tears.  If you like what you just read from our blog, you’ll love the various informative courses, workshops and events listed on our websites and social media. Whether you’re interested in personal development, or overall improvement of your business, give us a call at 1 (888) 823-7757 to find out how The RISE Academy can help you break past your daily struggles and start soaring in success. For business development coaching by Richard Martinez, call at 626-202-2291 or follow us on Facebook and Instagram.

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