Today I’m going to teach you how to change your mindset around money.
First I’m going to help you identify why you may have money mindset issues. Next I’m going to share with you how to better think about money from two different directions. Lastly, I’m going to share with you a simple exercise that I’ve had tens of thousands of people do that actually helped them with their money mindset.
Why would I have a money mindset issue?
Why might you have money mindset issues? Now this is a “well of course you do”…..because look at the programming. Look at the programming of Hollywood.
For example, let’s look at the Titanic. “Will we be seated according to class?” This is said, right as the ship is sinking! Let’s look at It’s A Wonderful Life, who’s the evil person in It’s A Wonderful Life? Potter, the banker that lent money to all of the people so that they could have houses, right? Now I’m not saying there are no bad bankers (there certainly are) but for all of your life, you have been programmed through Hollywood to think that those who have a lot of money are evil, greedy, earned off the backs of others etc.
Most recently you have someone like Elon Musk and he’s literally paying 11 billion dollars in taxes to the United States this year and yet you still have senators that are complaining that that’s not enough.
Now let me ask you this. Who do you think would use 11 billion dollars smarter? The government? Someone said years ago they said if you put the government in charge of the Sahara desert, there’d be a sand shortage in five years, right? So, who do you think would more efficiently use $11 billion? Elon Musk, the person that has brought us PayPal, Tesla, Spacex or the government who struggle to keep the potholes filled? Which one?
There’s just no wonder between Hollywood, the media and politicians constantly pounding you that your money mindset has issues. If you notice the millionaire politicians….now all they bash the billionaires. They used to bash millionaires……until the internet and then you learned that they were millionaires. Now they don’t bash millionaires because they are millionaires.
No wonder if you have been stumbling through life and not actively studying how to think about money….there’s no wonder that you have a hang up around it.
One of the quotes that I’ve been saying for many, many years is “you’ll never become that which you despise.” If you have drawn the conclusion that people with a lot of money had to get it in ill-gotten ways and had to earn off the backs of others and screw somebody over….then you’re not going to become rich. You’re not going to make a lot of money because you don’t want to be that person. The good news is there’s a different way of looking at it and we’re going to dive into that now.
What’s the better way to think about money?
Here’s how to better think about money from two different directions.
I was on a a really great podcast with Andrew Cordell. It’s called “The Money Is” show. He has interviewed all the the guys from Shark Tank, Grant Cardone and the “who’s who” of the self-development industry. I was very honored to to be on that show. He has you fill out a card that says “money is” and then you give your definition or your reaction.
My reaction was money is realized and potential impact.
Realized, that means the money in your bank account that you have right now, your assets and all net worth whatever, that is impact that you’ve made in some way, shape or form.
Maybe you worked for someone and they paid you a salary and you helped them with their goals. Maybe you’re in a business and you helped solve people’s problems, you were compensated for helping of problems.
So money is realized and potential.
What do I mean by potential? Well with more money, you can do more good.
This past Christmas (as of this post) my wife and I funded and delivered 850 toys to kids in foster care that would otherwise not have gotten a toy for Christmas. That’s something that we did because it made us feel good, right? I didn’t do it because I felt really guilty over how much money I’m making. I did it because it made me feel good……so I actually did it selfishly. I selfishly and greedily gave these toys, funded these toys for the kids in foster care because it made me feel good.
With more money, you can do more good.
Now that doesn’t mean without money, you can’t do any good. A lot of people that struggle with money mindset, they would determine that……”Oh you’re saying that you can just give up your time?” But I don’t think that you have enough time to make 850 toys, that’s kind of my point.
If you’re someone that likes to make a difference, that likes to make an impact and help others…. then I hope you make more money so you can do more of it. We can only donate so much of our time. We still have to pay bills and spend time with our family. I actually had our youngest kids involved in the delivering of those toys to the kids in foster care. I wanted them to see that process and be involved. With more money, you can do more good.
I want you to start seeing money differently.
It’s okay if you make a lot of money. It’s okay if you have a lot of money.
You get to choose what you do with that money. If you’re someone that likes to do good, you can do more with more capital. Now, that’s one of the ways to look at it.
The other way is to understand that people pay to have their problems solved. People pay to attain their desires.
I have coaching clients that have paid me hundreds of thousands of dollars, but you know what? It helped them make millions of dollars. I’ve had people compensate me in very amazing ways but it’s because they were getting more value than the money they were trading. That’s how you work too, right? You will pay for something that brings you more joy, fulfillment, value, solves a problem of yours, you will happily pay for that thing. Stop having this weird hang-up about money that at some point it’s too much or it’s no good or evil or whatever.
Start thinking differently about money and you’ll start making more.
Let’s hear from you!
I would love to hear from you. I gave a few examples, I talked about Titanic and It’s A Wonderful Life, what’s another example of a movie that really paints those with a lot of money in a really terrible light? You only have a bajillion to choose from….but what’s one that jumps out to you?
What is the simple exercise that helps with money mindset?
All right so what is this simple exercise that we’ve had tens of thousands of people do that helps with money mindset? We call it Wealth Wednesday.
Every Wednesday, I go into my group called Rank Makers and I give them the action step of doing Wealth Wednesday.
What is Wealth Wednesday? Wealth Wednesday is where you do a random act of kindness for a stranger involving a financial exchange. Why do I know that tens of thousands of people have done Wealth Wednesday? We actually track it…believe it or not. We actually track our Wealth Wednesday. Who does it in our community? We have a community of about 11,000 that pay a monthly subscription to be part of our group and every single week we have a lot of people do a Wealth Wednesday and over the years we’ve tracked it.
What does “a random act of kindness for a stranger involving a financial exchange,” look like? Well it could be you paying for the person behind you in a drive-through. One that really stands out (and I’ve heard so many examples of this) on a Wednesday there was a Starbucks in Minnesota that had 76 people in a row pay for the person behind them. Now, I definitely doubt that all 76 were Rank Makers or in my group but I bet the first one was. You never know what this can translate into or come from the one act of kindness.
I remember one of the very first news articles that came out from our “Wealth Wednesday” acts was many years ago and it was from Australia. Someone had done what we call “reverse shoplift” and they snuck a five dollar bill in a diaper box. This mom found the five dollars and she wrote to the paper and they did this really nice write up about it.
Wealth Wednesday could be paying for the person behind you in the drive-through, paying for the person behind you in the tollbooth, it could be you reverse shoplifting and sneaking some money in diaper box or baby formula or dog food or whatever….whatever floats your boat. But it’s you doing something exchanging money to someone that cannot thank you and you’re not getting anything from them in return. It’s just for you to have that feeling.
What are the benefits of this?
Number one, you get to draw the conclusion that with more money, I can do more good. Guess what? If you had more money, you could do more of this kind of stuff. You could be one of those people that go to Walmart and you know pay off the layaway if you’re into that sort of thing or you could give more money to your favorite charity.
Over the last four or five years, we’ve raised over a million dollars for different charities. We’ve raised money for March of Dimes, money to fight human trafficking, money for meditation research. We’ve earned all kinds of money and we’re very, very grateful to do it. We do it because it makes us feel good.
With more money, you can do more good and you get to feel good when you do it. Just doing this act makes you feel good and if you can do more of that….your life is going to improve.
Number two, you get to make someone else feel good. In today’s environment of such negative, nasty media and news and politicians and all this stuff, you may really lift the hopes of someone who’s lost their faith in humanity. There’s a lot of great ramifications of doing Wealth Wednesday. I want you to fully understand this and feel free to participate in it. I would love it if you did.
I’m going to share the link to our Wealth Wednesday video. This is a video that we share every Wednesday to get more people involved. I really believe if we (we’ve historically had tens of thousands of people do this) could get 10,000 people doing this every week, we would change the energy of this planet. This planet would absolutely change and you would see much more positivity and I would love for you to be enrolled in that vision of mine.
Here is the link https://youtu.be/OflyeQ0rP6g if you want to learn more about Wealth Wednesday and how to participate. I’ve told you a lot about it but if you want more just click the link above.