Connect with us

Success Advice

How to Have More Money: 5 Secrets You Need to Know to Be Wealthy

Published

on

how to have more money
Image Credit: Unsplash

Why are some people wealthy, while others struggle to survive, living pay check to pay check?  You can take two people from the same background, even the same family, with the same education and opportunity, and they will get different results. One will succeed, and one will fail. Why? Watching members of my own family get different results even though they were given the same information taught me valuable life lessons about building wealth.

My grandparents were hard-working, blue collar immigrants. They openly shared their good money habits with their four children. They all lived under the same roof and received the same information. Three of the four even had the same career, yet, their results were drastically different. I want to share my observations with you so you can learn what works when creating financial freedom.

Here are 5 proven secrets you need to know to be be wealthy:

1. Be Grateful

My grandparents spoke with love and appreciation for the opportunities available in their new homeland. My parents complained about money even though they earned plenty. Their lack of satisfaction led them to fund their lifestyle with money they didn’t have, accumulating a lot of debt. They fought over money and blamed each other for their results. Their constant bickering caused me unbearable stress. When you show appreciation, you get more of what you want. What are you grateful for today?

Here’s an easy way to show gratitude. Start and end each day stating out loud what you appreciate. It can be your health, family, friends, a thriving business. State your gratitude intention in the present tense. Here is an example…”I am so happy and grateful now that…. and you fill in the blank.

“You must gain control over your money or the lack of it will forever control you.” – Dave Ramsey

2. Be Generous

My grandparents regularly gave to their favorite charities and helped neighbors in need. Having the courage to be generous when you are struggling shows the Universe you’re confident in your ability to create what you need. Where can you show generosity today? How about donating your time, talent or money to a cause that matters to you? Sharing your passion in a special way often provides a renewed sense of purpose that gets your creative juices flowing.

3. Create A Plan and Take Daily Action Toward Your Goals

Only one of my grandparents children had a plan. My uncle and his wife lived within their means and had a lovely lifestyle. He didn’t earn more money than the others. My uncle made choices that gave him better results. His siblings spent more than they made, all the time. They thought they were living the good life, but the stress of being over extended and not having any savings took its toll financially and emotionally.

Do you set goals? Here’s an easy system to stay on track. First, create a written list of your goals and prioritize them. Write each one on 3 x 5 card that you read aloud daily. This will provide triggers that stimulate action. As you hit your targets, check them off your list. You will feel a rush of satisfaction that inspires you to keep going.

4. Have Honest Money Conversations

Nonnie and Grandpa were comfortable talking about money. This is the secret successful people have in common. Money doesn’t make them uncomfortable. They are comfortable with money. Developing a comfort level with money starts with knowing how to talk about it without getting emotional.

To have a successful money conversation, start small. Think of a money topic that is light, such as planning a vacation. If you have someone that is part of the planning process, make a vacation planning date with them. Start with general questions like where to go, when, and for how long. Once you’ve narrowed down your options, decide on a budget. Once this system becomes second nature, money conversations will be a breeze.

“Never spend your money before you have earned it.” – Thomas Jefferson

5. Live Within Your Means and Include Savings In Your Budget

My grandparents didn’t earn a lot of money in their day. Because they managed well and were consistent savers, they left their children a small inheritance when they passed. In contrast, one of their children died penniless. One lost everything and is living in government housing for the elderly. One had to downsize considerably, barely hanging on financially.

Their one child that copied their money habits retired comfortably. He enjoys financial freedom, experiencing life on his terms. His outcome proves your decisions and behavior create your results, not the size of your pay check.

What money choices will you make? This is essential – know your numbers. Use an online app or a spreadsheet. Include your take-home (net) income and any other income sources (dividends, interest, etc.).

Next list your expenses. Separate them by essential, and discretionary categories. Include savings in your budget. If you want to increase your savings, look for ways to reduce your discretionary expenses. Don’t forget subscription expenses. These are often overlooked and can add up fast. If you have subscriptions to goods or services you’re not using, consider cancelling them to save money.

As you can see, achieving the level of wealth and financial freedom isn’t as difficult as you might think. If you practice these 5 simple habits, you will be on your way to attain your money goals. Remember, live your life by design and not by default.

Therese R. Nicklas is a CERTIFIED FINANCIAL PLANNER™ and Certified Money Coach(CMC)®, founder of The Wealth Coach for Women, Inc. She’s passionate about helping women attain financial freedom so they live their life by design and not by default. Learn more about Therese at https://wealthcoachforwomen.net. You can download her eBook, filled with tools and tips to help you attain financial freedom “The Money & Life Playbook”.

Success Advice

The Power of Keeping a Daily Business Journal

Published

on

why you should keep a daily business journal
Image Credit: Unsplash

When most of us think about keeping a journal or diary, our minds are often transported to the potentially embarrassing things we used to scribble before we went to bed back in our middle and high school days. However, nightly journaling is actually one of the best ways to organize our thoughts, catalog our experiences, and measure our progress. As strange as it sounds, when applied to our professional lives, the practice of keeping a brief but structured journal can actually be extremely valuable, and help us become more conscious decision makers. (more…)

Continue Reading

Success Advice

How to Deal With the Fears That Hold You Back From Happiness

Published

on

how to deal with your fears
Image Credit: Unsplash

Fear is an emotion that most of us experience in this lifetime. However, some of us live in a more heightened state of fear, and sometimes it can rule our lives. Of course, I’m not talking about instinctive fear that our organism provides in dangerous situations. In this case, it serves for our protection.  (more…)

Continue Reading

Success Advice

3 Signs You’re Helping Raise a Quitter

Published

on

3 signs you're raising a quitter
Image Credit: Unsplash

Quitting is a bad habit and one that is taught and learned. As parents, we have way more control over this than we think, or even want to take responsibility for. Our children emulate what they see. If you bounce from job to job, or hobby to hobby, your child is more likely to do the same. (more…)

Continue Reading

Success Advice

5 Multi-Tasking Tips for the on the Go Mogul

Published

on

multitasking for busy people
Image Credit: Unsplash

It’s no secret that the business world – actually, the world in general – is moving at a speed that wasn’t even possible just a short generation ago. Our new tech tools, most notably the emergence of the wireless Internet enabled device, have made communication, logistics, and management a quicker process than ever before. Combine that with the competitive nature of the business environment, and instead of being able to sit back and enjoy the productivity increases of these new tools, we’re often required to get more accomplished – in the same amount of time. (more…)

Continue Reading

Trending