The mind is a powerful thing that never is underestimated in any circumstance.
Many successful people believe that you can also change your bank account size to change your patterns and thoughts. Here are five mental tricks that wealthy people use to make even more money. Try adopting these thoughts to see if they work as a booster to your generated income.
1. Treat Managing Money as a Game
Rich people tend to think of managing money as a game, calculating where to spend and invest. Successful people love to win, so they are continuously pushing, trying to do better, do more, learn more, and grow more. The average earner might be troubled if they become stagnant in their career and finances. If you drag yourself to work each day to receive a paycheck and survive in the world, then don't expect much more than that.
2. They Set Big Goals
Rich people are not afraid of setting big and unrealistic goals because they know they can conquer them in no time and with the right approach. So why are you afraid of setting big goals for yourselves? Is it because you don't believe they can happen or because you know you will hit your financial expectations if you put them low enough?
Set big and scary goals for all sections of your life and look at them as a challenge but always know that it is okay not to meet them. There is always going to be a possibility of setting a huge goal that you never meet, but what if you get halfway there? When you set the bar high, you force yourself to grow as a person.
For example, you can set two different financial goals this year: save Rs 1,00,000 and save Rs 20,00,000. Of course, there's a big difference between the two goals, and for some, the latter seems impossible. But what if, if you start with a Rs 20,00,000 savings goal, try your best and achieve it? Or you might even hit Rs 10,00,000 or more, which is greater than the low-expectations goal of saving Rs 1,00,000. So never be afraid to set big goals for yourself.
Also read: What are Goal-Based Savings?
3. Fear is Not an Option
One of the biggest emotions that keeps people from achieving great things is fear. Rich people block out fear and take intelligent risks. Do they fail? Yes! Every wealthy and successful person has failures attached to their name, along with more accomplishments and achievements. When you are trying to battle your fear, you need to ask yourself, "What is the worst that can happen?" Many times, the worst isn't that bad at all.
4. They Believe They Deserve to be Rich
Rich thinking people deserve to be rich. They see themselves worthy of having Money. On the flip side, those stuck in the middle class don't feel worthy of being rich. They don't consider themselves as anyone essential or of value.
This isn't just some lofty thought to have.
Think of your current job position. Can you be replaced easily in your company? If you answered yes, then figure out how you can become a valuable asset to your boss. If your company doesn't want to lose you, they will pay more to keep you. This can apply to almost any position, so don't think you need to go back to school to get a better degree to make this accurate for you.
Also read: 10 Key Ways to Improve Your Money Mindset
5. Money is Their Friend
Wealthy individuals realize the power that Money has, knowing that it can solve problems and improve their lives. Those who earn less view money as the enemy. They work to pay bills, pay bills so that they can live, and so on. The cycle never ends, and they are miserable.
Money is not the answer to happiness, but intelligent people can leverage their paychecks to better their lives.
These mental tricks aren't magic. Instead, they help rewire your brain to value yourself and your work — which in turn means you will earn more and spend your money better.
(Check out 'Learn & Grow with Wizely' 'to read and learn all about personal finance and financial planning.)