For Love and Money

How Wealthy People Think About Money

This was originally posted on November 15, 2007 at Millionaire Money Habits in the Money Mindset category.  I discovered it today and wanted to share it.  I've spent a lot of time thinking about how to earn a living, make extra money, save, etc.  When you find yourself in "survival mode" whether due to the loss of a job or business, family illness, disability, overwhelming debt - whatever the reason, you do think differently about money.  It takes a shift in the way you think to alter your "financial blueprint," as T. Harv Eker discusses in his book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth. 

Eker believes wealthy people inherently think differently about money; we behave according to our unique “financial blueprint,” which is created over a lifetime of our exposure to money messages. Eker lists 17 ways that wealthy people behave and think about money:

1. Wealthy people believe, “I create my life.” Poor people believe, “Life happens to me.”
2. Wealthy people play the money game to win. Poor people play the money game to not lose.
3. Wealthy people are committed to being rich. Poor people want to be rich.
4. Wealthy people think big. Poor people think small.
5. Wealthy people focus on opportunities. Poor people focus on obstacles.
6. Wealthy people admire other rich and successful people. Poor people resent rich and successful people.
7. Wealthy people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
8. Wealthy people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
9. Wealthy people are bigger than their problems. Poor people are smaller than their problems.
10. Wealthy people are excellent receivers. Poor people are poor receivers.
11. Wealthy people choose to get paid based on results. Poor people choose to get paid based on time.
12. Wealthy people think “both”. Poor people think “either/or”.
13. Wealthy people focus on their net worth. Poor people focus on their working income.
14. Wealthy people manage their money well. Poor people mismanage their money well.
15. Wealthy people have their money work hard for them. Poor people work hard for their money.
16. Wealthy people act in spite of fear. Poor people let fear stop them.
17. Wealthy people constantly learn and grow. Poor people think they already know.

Millionaire Money Habit: You control your ability to become wealthy and financially free. Make a long-term commitment to develop millionaire money habits, continue to develop your financial IQ and start thinking like a millionaire. The money will follow.

Recession-proof Your Life

With all of the media attention on markets dropping, credit crunches, and housing busts, it's more than a little unnerving to speculate on the future, especially with an election on the horizon.  I've tried to consider ways to "recession-proof" my life.  For me, security does not lie in one job or a modest 401k, or even in owning a house.  Security is at best, a fleeting term that makes us feel like we've got a little more control over our financial (and professional) house. 

That said, I've decided what makes me feel most comfortable is to pursue a variety of professional pursuits - a full-time day job provides me with a steady paycheck and benefits, but with a looming merger, that's not a given either.  As a professional freelance writer, I can fulfill a personal passion and draw some additional income, so I've created a Web site using the Microsoft beta, with the goal of generating some income through my business:  Living To Write. 

Blogging is a new endeavor, so I don't have enough experience in this arena to know if it will eventually provide a stream of income or not.  Hopefully! In addition to posting here, I'll be blogging on Vacation Blogspot, and as the Food and Entertainment Editor for WE Magazine for Women.

I've also discovered that eBay fits the bill (like thousands of others) when I need to raise some extra cash here and there - I generated an extra $2500 last year just cleaning out closets! 

Knowing that I can do a variety of things that interest me and earn money doing them gives me a sense of security about my ability to continue to enjoy the lifestyle I want, regardless of what the market does today or who wins the election.

What gives you a sense of security?