What are the 5 Good Money Mindsets? Mostly are people more familiar with the words “money-minded”, but when we talk about money-minded means we care about money so much, to the extent of everything in our life is about money and money come first.
Be it to be frugal, thrifty, to make money or even a penny. So what is the right money mindset? What is the right way of perceiving money-making, and a good money mindset?
1. Why is money so hard to earn?
Ordinary people think money is so hard to make, it is so difficult to work for people, selling our limited lifetime to employers, and solve problems for the company.
It’s true, this is not easy when we have to work with other people, not the only decision-maker in the working environment, we have to deal with emotions from different individuals, company profits so on and on. When we carry on to this direction of making money, yes it is never too easy.
On the other hand, some of us might think making money is not too hard. I came across this idea not long ago, once we can break down the numbers, it does look more achievable.
2. What is a Good Money Mindset?
Now, if you only need to look for ways to make $70 (round up amount) a day, regardless of the methods, do you think it is easier to do that now? Some of us spend 10 to 13 hours per day in the office working for an employer, we might not able to make more than $70, and why are we still working for others?
Active income examples:
- Help walking you neighborhood dogs
- Trimming grasses services
- Cleaning services
- Car wash
- Running Errands
Passive income examples:
- Selling stock images and videos online
- Online digital services
- Stock dividends/Stock investments
- High-interest return from investment/bank/retirement funds
- Business investments
- Rental Income
3. Is money only for the rich?
Having the right mentality is the most important mindset, to begin with. If we are keep thinking money is not for us, money is for the smart, money is for the rich people, our mind will not signal the right things to do, to look for ways to make money come to us easily. The way of how we think, it matters on what are we going to do next.
Whereby if we start rewiring our thoughts, to change our usual thinking to something we are unfamiliar with, to adapt the idea, to research, to ask more questions, and more unknown answers will come to you.
Trust me, when you start asking the surrounding people how do you make money other than working for people? Do you make passive income, and how to? People will start pouring new ideas to you, and your mind will start receiving new ideas, new terms that you never heard before, and you can put them into your dictionary and start to google it, and see how does it able to help you on your passive income journey.
Money is not only for the rich, money is for those who constantly looking for ways to earn it.
4. Why is The rich gets richer?
The rich get richer is because of the effects of compounding. The power of multiplication, accumulation, continuous growth, recurrence, reduplication, and repetition. What is that?
Simple examples here:
The compounding effects will go on and the longer it takes, the bigger difference or gap you will see. This is how the richer able to gets richer, it all because they make their money work harder than saving them in our consumer bank saving account.
Have a better idea now? Free Interest Compounding Calculator here.
5. Rewiring your mindset of money is not hard
Having the right mentality is always the first thing to do. When there are possibilities in our mind, our brain will send out commands to our bodies and look for ways to fulfill the commands being sent across.
Making money is for everyone if, until this point of time, you only have one income source, it never too late to start, find the “know-how”, learn from basic, the more we being exposed to the idea, more reading, practice, get familiar with the unfamiliar knowledge, we will be good at it eventually.
Bear in mind that having a good money mindset is different from being money minded. We are not trying to be frugal, driven by money here, but is more of forgetting about “money is only for the rich concept” money is for everyone who learns, keeps looking for ways to earn it.
6. Learn something about what are the 5 Good Money Mindsets?
To know more what other ways you can make passive money, you can check out my other posts, they are easy to read and understand.
Do not afraid to also drop me some questions and comments below, I would love to answer and to help you with your life money compounding journey.