More than anything, your thinking plays a big part in your success. This is a truism when it comes to your wealth. Money is heavily tied to our emotions, and the ways to get even more of it are usually the complete opposite of our natural instincts.
Take the time to think
In his book Rich Habits: The Daily Success Habits Of Wealthy Individuals Thomas Corley studied the habits of millionaires across the globe, and he found that wealthy people always spend 15 to 30 minutes a day simply thinking.
This might seem like a no-brainer, but ask yourself this–during a busy workday, how often do you actually spend time thinking instead of just doing?
For example, as tempting as it might be to dive straight into your emails Monday morning, take a hint from Corley and spend a few minutes prioritizing instead. And rather than goal-setting on autopilot, take the time to look at the big-picture and examine things like your career goals and business relationships.
Outside of your career, stopping to think about money in general can (literally) be incredibly valuable. Whether it’s thinking twice about buying new shoes, or looking at your long-term goals before selling a stock, taking a pause and thinking rationally about money can pay off for years to come.
Another big misconception about wealthy people is that their constant pursuit of more wealth also makes them constantly unhappy with what they currently have.
In fact, rather than being unhappy with their car as soon as the latest model comes out, wealthy people do the exact opposite. Don’t believe me? Studies have found that people who are grateful have a 10% higher income overall.
Part of this has to do with viewing luxury differently and not correlating higher income with more spending. But there are also a slew of priceless benefits that come from gratitude, such as better relationships with others and improved health (according to Harvard research).
Although you should always be reaching higher and higher, you should never forget or take your past successes for granted. You can start this today by using proven methods to increase your gratitude, such as keeping a gratitude journal or merely reflecting for a few minutes.
Want to learn more about investing? Visit my firm LexION Capital’s website for more info!
Have any mental habits of your own that can improve wealth? I want to hear from you!