Thursday, July 9, 2009

Wealth File

Wealth File #14

Rich people manage their money well.

Poor people mismanage their money well.

It's not your income that makes you rich. It's what you keep and how you use it.

That's basically the conclusion Thomas Stanley, came to in his best-selling book, The Millionaire Next Door after interviewing millionaires across North America. As he said, "Rich people are good at managing their money."

The fact is, everybody manages their money. The difference is, rich people are good at managing their money and poor people are good at mismanaging their money.

So let me ask you:
Are you good at managing your money?
Or mismanaging it?
Do you control your money, or does your money control you?

The simple truth is this: in order to master money, you must manage money.

This is the Wealth File we'll be working on.

We'll begin in a moment.
But first I want to remind you of something before we get started: please be kind to yourself.

You're learning new mental habits.
You may slip back into your old thought habits from time to time.
That is OK.

In fact, it's great if you catch yourself thinking in the old ways. Simply congratulate yourself for catching yourself, simply say to that old voice "Cancel, cancel. Thank you for sharing." And replace the old thought habit with this new, millionaire thought habit.

The concepts --the new files --you're learning are simple but very profound. They make real changes for real people in the real world.

Just remember it's imperative you put each file into action as quickly as possible so that the knowledge can move to a physical, cellular level. That way, it can create lasting and permanent change.

I know how it's like to be broke. I've been there. The temptation is to think, "I don't have enough money to manage." The problem with this kind of thinking is, it's looking through the wrong end of the telescope. Instead of "when I have plenty of money, I'll begin to manage it" the reality is "when I begin to manage it, I'll have plenty of money."

That's like saying "I'll start exercising when I lose weight."

The way it works is, FIRST start handling what you have properly and THEN you'll have more money to handle.

At the Millionaire Mind Intensive, I tell a story that hits people right between the eyes:

Imagine you're with a five year-old child. You walk into an ice cream shop and you buy her an ice cream cone. The two of you walk outside. No sooner do you get outside, though, that she licks her ice cream and PLOP! It falls off and onto the sidewalk.

She starts to cry. So back into the store you go to buy her another one. And just then, the child sees a colourful sign with a picture of the "triple scooper" cone. Delighted, she points to the picture and squeals "I want that one!"

Question: Being the kind, loving and generous person that you are, would you go ahead and get her the triple scooper? You might be tempted to say "sure." But think about it. Why would you set the child to fail again? She couldn't even handle a single scoop. How could she possibly handle a triple scoop?

By the same token, why would a kind, loving universe give you more than you could handle? The universe is saying "Until you show you can handle what you've got, you won't get any more!"

So how exactly do you manage your money?

At the Millionaire Mind Intensive, we teach an amazingly simple and effective money management system. It's beyond the scope of to go into it in detail, but let me give you a couple of basics to get started.