If you’ve never stopped to think about it, there is a difference between making money and becoming wealthy and most of it revolves around our mindset. Here are the differences between the two types of mindsets:
The Making Money Mindset
- You spend every penny you own and then some every.single.month.
- The sole purpose of making money is to pay the bills you have, if you have any money left over you just go spend it.
- You live paycheck to paycheck (no matter what your income is $10,000-$100,000, it doesn’t matter).
- May appear “wealthy” with all kinds of nice things but in reality you are drowning in debt.
- You disregard those who live below their means as not living for today.
- Always have to have the newest and greatest things and you have to have it first!
- Spending makes you feel better about yourself. You’ve got the credit, why not use it?
- You are never satisfied and always looking for the next best thing.
The Becoming Wealthy Mindset
- It doesn’t matter what you make ($10,000-$100,000), each month you spend less than you earn
- You consistently set money aside each month – your money works for you (saving) not against you (debt).
- You keep your car a year or two longer, pass on the newest technology and wait until you can pay cash to buy it.
- You have money set aside for emergencies and feel secure in knowing that it’s there.
- Buying on credit is appalling to you. You’d rather go without then have the TV. package with 5,000 channels that no one is ever home to watch.
Who are you today? Who do you want to be? Do you want to be the person who lives your life working everyday for your next paycheck or do you want to adopt a wealthy mindset so you can prepare for your future? It’s never too late to change your habits and the way you think about money. Why not start today?
Join the nearly 25,000 other Smart Girl's Jenny reaches each month! By taking personal finance beyond the basics, Jenny (aka The Jenny Pincher) is reaching women with a no-nonsense message about building wealth and securing their futures.
With a fun and upbeat delivery, Jenny offers solutions and tips for modern day living through her blog, podcast and social media. Sign up below to be included on updates from The Jenny Pincher!