Jean Chatzky author of The Difference believes that anyone with the right attitude can prosper, even in the toughest of economic climates.
So we wanted to share her thoughts as she describes how you can go from the person who lives pay day to pay day, to the person who lives in financial comfort.
Here’s some tips to get you started:
1. Happiness and Optimism – Some people believe money leads to happiness. Not true. Once you’re living comfortably, more money doesn’t buy you happiness. The reverse, however, is true; Happiness leads to money. And success. Likewise, so does optimism. Both enable you to resolve problems, conjure ideas, take long-range consequences into consideration and come back and try again if you miss the first time.
2. Resilience – People who have moved from a bad financial situation into comfort or wealth have resilience. They can overcome – on the job, in their personal lives, with their finances. They don’t deny the bad things that happen, but they’re able to turn their focus to things over which they have control with the belief that they have the ability to effect change. The good news is you don’t have to be born with resilience – you can learn it by controlling the things you can control and letting go of the others.
3. Connectedness – Ever heard of social capital? It’s the asset created when relationships between people change in ways that lead to action, generally for good. It’s an important component of The Difference, and the wealthy and financially comfortable not only have more of it than people living pay day to pay day, they know how to use it. They cast a wider net, socialising with neighbours, co-workers, people who can help them advance financially or in their careers. To get your share of social capital, you have to make time for people and put yourself forward as a leader.
4. Passion – It is a key element that moves people from a life of financial struggle to one of financial success. The wealthy, simply put, want it more than the rest of that. Some want it in the form of money, but most are quite passionate about the careers they choose to pursue. And, at a time where doing what you love may seem not so possible, it’s important to know you can learn to love what you do.
5. Intuition – Over the years, your brain has scored up scads of patterns, information that tells you that if one thing happens, something else is likely to follow. We feel these signals in our gut – and we call them hunches. They are really our intuition, a sixth sense that is more developed in the wealthy than in anyone else. You can learn to bring yours forward by adopting strategies like giving your intuition a little more room to breathe: You have the best Aha moments when you’re not searching for them.
6. Habitual saving – The wealthy people in our study certainly have the funds to be crazy spenders, but most are not. Both wealthy and financially comfortable individuals say that saving more money has been an “absolute essential” financial goal as an adult. If you’re not a habitual saver already, The Difference will show you how.
7. Invest in stocks – The wealthy understand the need to take risks in the market – in good times and in bad – in order to make their money work as hard as they do.
8. Gratitude – The Karma Kickback. The people who get rich – and stay rich – are not just grateful. They practice gratitude by giving back to their communities, to organisations they believe in and the people they care about. Even if you are thinking of something you view as mundane – like your job – when you think about it as a gift, you focus on what life might be if you didn’t have it.
To find out more fantastic tips from Jean Chatzky, head to her website here: http://www.jeanchatzky.com/
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