Success Advice
Gratitude Is the Key to Financial Success

The coronavirus pandemic disrupted our lives in ways most of us never imagined could be possible. COVID-19 didn’t just affect us physically. It also affects us emotionally and financially. Yet not all these effects were bad. It also prompted us to feel grateful. For some, gratitude was a coping mechanism. For others, gratitude meant focusing on what they had instead of what they lost.
We’ll be very happy to let go of many habits we developed during coronavirus lockdowns. But this habit is not just one to keep. It’s also one to apply to other areas of your life. Gratitude for what you have alters your financial perspective in several ways. After all, financial success often isn’t about getting more. Instead, financially successful people usually know how to hold onto what they have. An attitude change could unlock this secret in your life.
Direct Effects of Gratitude
Most advertisers attempt to trigger emotional responses which prompt people to buy certain products. For example, many car commercials say almost nothing about the vehicle advertised. Instead, the commercials focus on product use, like fun road trips, which trigger that emotional response.
Gratitude redirects these emotional responses. If you are grateful for the vehicle in your garage and the road trips you’ve been on, you are less likely to reach out to a dealer.
Instant gratification impulses are a related issue. When you drive by a fast-food restaurant on your way home after a long day, you are most likely tempted to pick up dinner. This decision is also rather easy to rationalize. Latent advertising effects remind us of the convenience that fast food offers.
Gratitude eases these temptations. One recent study indicated that gratitude increases patience and makes delayed gratification more appealing. On a related note, gratitude decreases impulse buying. The carefully-displayed products at grocery stores look much less appealing if you are grateful for the food which is already in your refrigerator.
Hedonic Adaptation is a closely-related concept. Essentially, we all have a base happiness level. Life’s ups and downs do not permanently change this baseline. We simply feel better, or worse, for a brief period of time. Admittedly, that “brief period of time” could seem like an eternity in some cases.
So, gratitude helps you avoid the buying-happiness trap. Once we realize that acquisition is just a quick fix, we normally look inward for happiness.
There are other direct effects as well. For example, gratitude usually increases generosity. In this context, “generosity” doesn’t necessarily mean giving things away. Instead, generosity is more about respecting the people in your life who have had a positive impact. This respect usually prompts people to make a positive impact in other people’s lives.
Such generosity always comes back to you. Some people call it karma. Others call it reaping what you sow or paying it forward. This benefit could be financial. Generosity also makes you memorable to others, so they are more likely to think of you when they are hiring, need a contractor, and so on.
Indirect Effects
As mentioned, gratitude is often related to respect. This respect includes self-respect. Several studies suggest that grateful people have better diets, exercise more, sleep better, and otherwise take care of themselves. So, they have fewer illness symptoms. Better physical health and lower materialistic impulses is a good combination for anyone.
What does this combination mean to your finances? Gratitude increases productivity. Instead of worrying about your health or your next purchase, you are focused on the task at hand.
Financially successful people usually make good decisions and have strong willpower. Gratitude supports these traits.
There have been a number of delayed gratification experiments over the years. For example, study participants might have a choice between a $50 payment today and a $75 payment in thirty days. These studies consistently show that people who are grateful for what they have and can resist immediate “get more now” impulses are happier and more productive.
On a related note, bosses know how much simple expressions of gratitude increase productivity. One former President of the United States noted that Congressmen and Senators were much more likely to back controversial new proposals if he thanked them for their support of a previous initiative. The evidence is not just anecdotal. One study suggested that such expressions increased a work team’s productivity by 50 percent.
How to Be More Grateful
Knowing the benefits of gratitude is one thing. Incorporating gratitude into your daily life is something else. How can you unlock these benefits and reap the financial benefits they bring?
Toward the end of every day, write, don’t type, five events or things that you are grateful for. The items themselves aren’t necessarily important. These lists help convince us that overall, life is pretty good. That understanding is usually the foundation of gratitude.
Allow your mood to affect your decisions. When you are feeling good, that’s a good time to make spending decisions. Make an extra IRA contribution or donate some money to charity. Later, if you feel depressed, you are less likely to spend money frivolously, since you have already “spent” it elsewhere.
Finally, focus on the positive aspects of your everyday life. Avoid negative people and negative social media posts. The positive energy these habits generate make it easier to be a grateful person.
Success Advice
Leadership Styles That Are Killing Innovation In Your Business
This approach is common in environments that demand discipline, fast decision-making, or secrecy

Throughout history, some of the most influential military figures, Genghis Khan, Napoleon Bonaparte, Adolf Hitler, Attila the Hun, and General Patton, shared a common leadership style: autocratic leadership. (more…)
Change Your Mindset
You Become What You Absorb: How Input Shapes Your Life
We let the world dictate who we spend time with and what input we allow in, rarely stopping to consider the effects it’s having on us

“Input” is anything from the outside world that influences your mood, mindset, and emotional state. It includes the media you consume, the books you read, the podcasts and music you listen to, and the movies and shows you watch. But it also encompasses much more: the environment you live and work in, the conversations you have, the people you surround yourself with, and the events, personal or global, that unfold around you. (more…)
Success Advice
This Overlooked Skill Drives Real Business Growth
It strengthens relationships, enhances decision-making, and fosters trust.

In every successful leader’s toolkit, one skill stands out above the rest: the ability to listen. While good leaders are known for making confident decisions, great leaders understand that those decisions are only as strong as the information they’re based on. And that information? It comes from truly listening to their teams, peers, and even critics. (more…)
Personal Development
The Real Reason Successful People Are Never Late
More than just good manners, punctuality is a vital professional and personal trait.

How do you feel when your flight is delayed, throwing your entire schedule into chaos? Or when a patient dies due to a doctor’s tardiness? What about missing a job opportunity because your driver showed up late? And how do you react when someone walks in late without the basic courtesy of apologizing? (more…)
-
Success Advice4 weeks ago
People-First Leadership: 10 Ways Modern Leaders Drive Growth
-
Personal Development3 weeks ago
Why Top Performers Create This Powerful Plan Before Taking Action
-
Success Advice3 weeks ago
Passion vs. Paycheck: The Tragic Trade-Off Too Many People Make
-
Personal Development3 weeks ago
The Three-Second Pause That Changes How People Perceive You
-
Mentor3 weeks ago
The 3 Mentorship Moves Every Leader Should Master
-
Shift Your Mindset2 weeks ago
10 Powerful Traits Every True Thought Leader Possesses
-
Success Advice3 weeks ago
Why Visionary Leaders Are Embracing Emotional Sovereignty Worldwide
-
Success Advice2 weeks ago
Leadership vs. Popularity: Why You Can’t Have Both