If you asked an audience, who wants to get rich, you might see an abnormally big show of hands. Then if you were to immediately ask, who in the audience would love to gain wealth. You might see close to the same, show of hands, maybe more or maybe less. But if you happen to notice “less” hands went up when asking about wealth…I guarantee ya, there’s a possibility that someone may not understand the value nor most crucial meaning of wealth. Let’s dig deeper…Hey, what’s the difference between the two?
The Difference Between Rich and Wealthy
Although, they both indicate lots of money, the two are quite different in nature. For instance, to be rich, is to have lots of money, but in many cases, one may not have the skills or “know how” when it comes to allowing the given money to set and make more money. Many rich people may not know how to properly invest nor manage their money. They may suffer badly when it comes to investing/saving or building a financial legacy. They may not even consider the thought of letting their funds multiply and grow over time. They may even spend it as fast as they get it on the finer things in life, or lots of un-neccesary material items, just because they have the financial power to make it all appear/disappear. Sounds great to be rich, right? But it doesn’t sound so great, if the person who is rich does not know how to manage the very money that has poured in to pile on the riches. Lots of people, more so now-a-days than many moons ago, have experience some form of being rich, whether it was due to a law suit, lottery/prize winnings, really big pay rewards/checks, a rewarding business concept/entrepreneurship and more. There are many ways people have became rich, or may be rich today.
On the flip side, to be wealthy is to allow your money or assets to sit, and make even more money and wealth. Making wise investments and savings are like wealth choices. Also, one can get a start at wealth by way of a wealthy inheritance, or as some like to called it “borned with a silver spoon in mouth”…Which does not happen to the majority it seems. But the beauty of it all, is the fact that wealth can be a choice and can be created with the right mindset and right action by many. It may be thought of as, an acquired skill set, or power tool of knowledge.
A person can challenge the possibility of wealth, wealthy by starting right where they are now in life. The sooner you start your wealth building plan, the better. You’re going to want to start investing (way of gaining profitable returns) and compounding (ability of an asset to generate more) your funds/assests. Become a master investor rather than a master borrower, there are many great programs out there to get you started.
If you have a mountain of debts, start a challenge of reducing and getting rid of the smaller debts and working up toward the bigger ones (known as the snowball affect) is a nice move in the right direction. Take reasonable “baby” action steps if you have to, as long as you’re training yourself to “get moving” you’re on the right track. Each time a debt gets paid off, take a breather, mentally celebrate and do the “happy” dance. Remember, when challenges are reasonable and shows movement and progress, it becomes more enticing or inviting to continue. But pay offs, are a good thing…Regardless how tempting loans sounds, if at all possible, avoid them, pay quickly or in full. If you have to tamper with a loan, make sure your investment will create a major profit that causes a “un-deniable” increase, rather than pull you “upside down” or cause a severe decrease.
Remember, your goal should become the “Lender/The Owner….Not the Borrower/The Slave to debts. Depending on what it is, you may definitely, fair better by, executing time and patience. By allowing yourself time to save up your own funds, rather than to borrow someone’s elses. Timing and patience are two important factors in this equation.
Develop Saving Plans and Research The Best Investment Programs
Develop a savings plan for your immediate, short or long term goals. If you work a job or bank monthly income, you are going to want to pay yourself first and dip the payment faithfully into your savings account. If you’re on a tight budget (you may start with 10% out of each check or more if you like)…Automate your payments to your savings account, if you struggle with spending. Also, take advantage of matching 401K plans, retirement plans,stocks, bonds, but research the investment programs thoroughly to see if it’s the best fit. Create a mental habit and “love affair” when it comes to the tons of ways you can simply, set back “drool” and watch your funds/assets grow!…lol. The years past so fast and before you know it, you will welcome the increases and want even more of the increase. The habit and sacrifice of saving exceeds the joys/aches of spending in the wisdom department of wealth.
Words Of The Wise
“You have to live in the moment but think in the next one; Forward thinking people are positioning themselves to be blessed.” —-T.D. J.
Changed Mindset n You’re All Set To Go….
To mentally set it off, make sure you are able to appreciate the blessings you already have, that you are thankful and grateful and have a heart full of grace and love; That alone puts you so much further ahead of the pack. Then really believe that you are meant to be bountifully blessed. That your heart and spirit will be guided by God, the universe to acheive that which you believe. You can become wealthy by applying the right knowledge and skill needed to do so. Affirm the spirit of wealth and all associated possibilities in your mind daily. Think constantly of putting priorities in the right place. Start setting boundaries and limits, get rid of the un-necessary “spending” mentality. Don’t just think, but speak and set an actionable, workable plan/goal to serve as your compass or guide. Position yourself to become the “Lender not the Borrower”…Learn how not to become the consumer but learn to become an investor or take ownership. Stop looking at the negatives and concentrate on the positive things you’ve done on the journey. Concentrate, rather focus on what’s working and remains loyal to your cause. You’ll know for sure that your mindset has changed when you are driven to seek and execute your plan of action no matter what.