I first heard the expression about 20 years ago in Las Vegas. My “low on funds” girlfriend was using it to describe our wealthier friend who was winning at the tables.
What she really meant is “I’m poor now, and I’m going to stay poor.”
I’ve thought about that statement many times over the last 20 years. Is that really the way it is? And just by thinking that, do you doom yourself to be “poor”?
I set out determined to prove my girlfriend wrong – and prove that you can attract money – even without money to start.
Developing Wealthy Habits and Attitudes
The first thing you need to do is give money the attention it deserves. If you leave something unattended, it will wither and die. So you need to pay attention. Account for the money you are spending. In other words – focus on what you have right now.
I find it’s helpful to write down what I spend. You may find it easier to use an app on your phone or a spreadsheet to keep track of your expenditures. At the end of the week, I look it over. I’m often surprised when I add up the little amounts I sent – and see how they add up to big amounts. That $5 breakfast stop adds up to $35 after a week. Multiply that by a year – well, it’s no longer a small amount.
So start by being aware. Take notice of money in, and money out.
Second on my list is working hard. Now, a lot of people won’t agree with me, but hard work pays off. In order to respect money, you have to work hard for it. But you want to make sure you love what you do. Why?
Well, according to Barron Marketing, the average self-made millionaire in America works 59 hours per week. And they usually work 6 days each week.
Now, I can pretty much guarantee you – that those self-made millionaires enjoy their work. And when you enjoy your work, you don’t mind putting in the hours – it’s a pleasure. Once you make the money, you can sit back and relax a little bit, but you probably won’t want to.
Forget About Living “High on the Hog”
My third (and last habit for today) is to live a modest lifestyle. Don’t buy the biggest, fanciest car you can afford. And think twice before upgrading your living space.
You see, the more you spend on your housing, the more your lifestyle costs go up. When you buy a more expensive house, you have to pay more taxes, and more insurance, and you spend more to furnish it… the list goes on and on.
You might spend $500 on a kitchen table – or you might find one at a yard sale for $50. The question you need to ask yourself is how much more pleasure will you get for the extra $450. If you can’t get more pleasure and use out of the larger expense, you should choose the smaller expense.
If you feel you need to keep up with the Jones’, you will always be chasing someone. But by building attitudes and habits that encourage a wealth-filled life, you might actually find your life filled with wealth beyond your expectations.
Only you can make the change – and each change starts with one choice. I challenge you to:
- Be aware of your money
- Work hard and respect your money
- Live simply and modestly
Let me know in the comments below what your biggest challenge is – I’ll try to address it in one of my upcoming articles.