Money and wealth is one interesting subject. We all want more of it but the path to gaining more always seems elusive. I am at that stage in my life where stability and building a legacy are at the top of my list. At 37, I genuinely thought that I would be a lot more further ahead in my wealth journey than I am now. I’m a hard worker and once can argue that I know how to make money, surely that has to be the key to building wealth? Apparently, that’s not enough. I’ve had my share of money dramas from dealing with crippling debts to having to change my negative mindset and associations around money to where I am now, getting back to the foundations.
I’ve personally found that a crucial first step to building wealth is mindset based. You have to work on your mindset and association with money. We’ve all grown up with different programming around money. Think of common phrase like “filthy rich”, “money does not grow on trees”, “rich people are evil”, “money is the root of all evil”…the list goes on. How can you want something yet talk trash about? If you did that with friends and loved once you would repel them. We are doing the same with money. Money is a tool. Any tool can be used for good or evil and therefore, all responsibility lies with the person with the tool to use it well. You cannot blame the tool. What good can you do with wealth? How much impact can you have on yourself, your loved ones and the world if you had the resources?
The next piece of the puzzle is understanding the fundamentals of true wealth building. This is the part I’m geeking out on at the moment. In short, you need to learn how to make money, how to save money and how to make money work for you. In the last month. I’ve been devouring everything I can find about investing, asset allocation and generally how money and the economy works. Like they say “A Little Knowledge Is A Dangerous Thing”, in the past I thought I was very well informed on the topic but unfortunately, I did not know enough. Take time to learn this stuff. There’s plenty of content on books, YouTube and podcasts.
There is soo much to talk about on this topic. I’ll be sharing more as I continue this journey.