Money Psychology

How to Think Like a Millionaire

millionaire piggy

If you are like me, you may have grown up with parents who did their best to make ends meet, but usually had “more month than money”. We learn about a relationship with money through our parents’ modeling, and if what was modeled was a “poverty mentality” then we need to find new models.

According to Alan Weiss, Ph.D. symptoms of a “poverty mentality” include:

  • Belief that you are a victim of others’ decisions and choices.
  • Fear of spending money on non-essentials.
  • Constant search for cheapest alternative, even if a discomfort.
  • Obsession with getting “deals” and free entry.
  • Belief that you’re lucky when you succeed, incompetent when you fail.
  • Denying yourself as an ongoing way of life.
  • Feelings of guilt when you have more than someone else.
  • Fear of being seen as boasting when you describe a simple accomplishment.
  • Never picking up a check someone else may pick up.
  • Never feeling you have enough reserves or resources.
  • A belief you can “lose it all” despite everything you do.

These behaviors and beliefs will hold you back from ever truly growing wealthy and experiencing abundance in your life. Instead, we need to look to those who have achieved wealth, and adopt their mindset. We can work to develop a “millionaire mindset” which includes:

  • Setting a goal and then adjusting your income to meet it.
    • The rich woman considers a goal and then find ways to increase her income to meet it, the poor woman looks at her income and then adjusts her goals to fit it. Just Sayin’.
  • Don’t buy into the lie that time equals money.
    • Millionaires spend their time growing assets, not trading their time to earn a wage. Look for ways to leverage what you already have so that you can make your money earn for you!
  • See opportunity everywhere.
    • Those who become millionaires have an incredible ability to see opportunity in all things. They can easily imagine ways to make extra income or profits, and…
  • They take action.
    • A millionaire spends their time reading books and taking courses to increase their knowledge and gain new skills. But then they actually take action! They don’t just sit on the sidelines, paralyzed by the fear of failure.
  • See money as a tool, not a goal.
    • The rich woman sees money as a tool to achieve the things she wants to in life: education, giving, security and freedom. The poor woman sees money as the the only thing standing between herself and the things she wants.

We CAN reset our beliefs. Our brains are “flexible” and we can learn new ways of seeing money. Take a moment to examine your own beliefs and see how you might make a few simple changes that will add up to huge financial success!

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