Thursday, 13 June 2013

Have You Got the Right Money Mindset?

What would occur if you increase your income significantly?  Such as $1 million, $10 million or more? Certainly you would purchase some things, invest some and ensure that it lasts through the rest of your life… right?

That is what we say or assume we would do. However, you have read the repeating stories of lottery winners who buy, buy, and buy or even find investments only to discover they were scams. This story has also been repeated by professional athletes… example, four-time boxing champ Evander Holyfield earned over $250 million in his career and yet he is completely broke now! We sit back and wonder “How could they have done that?”… “I would be much better at managing the money.” Or would you?
We each have a comfort zone for the amount of income or personal wealth that we feel okay with. If we earn less than the ‘magic’ number, then we work harder, find a new job or get a second job to reach our comfort zone. If we get more than the ‘magic’ number, then the internal discomfort creates decisions that cause our personal wealth to reduce back to within about a 10% range above or below our comfort zone.

Your money mindset or wealth comfort zone is critical to be aware of and if needed, to be changed to support any new wealth increase in your life. Where does a money mindset come from? Of course, there are a variety of ways we assume a comfort zone. One experience for me was that my first salary out of college paid me more than each of my parents made in their jobs of 20 plus years. That created discomfort for me and a struggle about whether it was ‘right’ to earn more than my parents or even the more experienced workers at the company I worked for. Perhaps you were told that money creates problems… if you believed that then why would you want more money since that would cause more problems in your life.

How does this apply to business? If you are in sales, then once you reach your monthly quota, you may slack off or even sabotage additional sales. If you are working on a project that will provide a bonus based on a successful outcome, you may find yourself procrastinating about finishing the project. If you are a consultant or entrepreneur and determine the amount you charge for your services, you may repetitively charge less than you could for your contracts.

Underneath the comfort zone or money mindset are beliefs about how you feel about money, about yourself, as well as about the value to bring to your job or clients. Check your thoughts and feelings about a project or situation you are working with. Do you feel you are being taken advantage of? Then perhaps you feel you should be paid more than you are and thus you are below your comfort zone. Or, do you feel guilty about the money you are making or have? Then, you are probably above your comfort zone.

There are many ways to update or upgrade your money mindset or comfort zone. Being aware is the first step. The most efficient way I have experienced of creating a new level of money mindset is using a process that changes the subconscious mind regarding wealth/money/abundance, etc. 


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