Don't Chase The Money

Chasing money is what keeps us from experiencing the ongoing natural state of abundance. The need to chase after money is not a reflection of how things really are: it’s a scarcity point of view we create. It’s the place we function from when we tell ourselves: “I don’t have enough. I never have enough. No matter what happens, I will never have enough.”

When we chase money, we cut ourselves off from the infinite possibilities that are available to us. Please don't chase the money, let money chase you!

When you are chasing money you are operating within the limitations of this reality. You reject what you could have. You function with far less power, ability, joy, fun and money than you could have.

If you think that you have to work hard in order to have money and you don't have a sense of ease with it, then you will constantly create that hard work and lack of ease as your reality. Don’t chase the money, chase the dream and money will follow!

How to Generate Wealth Beyond Your Job

Generating wealth beyond your current job never crosses the minds of most people. They are focused on looking for the right job that will provide them just enough money to survive short term with steady paychecks, and never ask ‘What else is possible?’

How about you? An income from your current job, no matter how large and substantial, doesn't necessarily equate to wealth. If you are not financially aware and if you don’t know what you can do with the money you have, you will never become truly wealthy.

Do you believe you have what it takes to be wealthy?

Your current financial reality is the reflection of your points of view about wealth, money and finance.

For example, if you believe that you have to work hard in order to have money and you don’t have a sense of ease with having money, then you will constantly create that as your life. In truth, when you allow yourself to be bound to your current job (whether it be salaried, stay at home, self-employed or any other combination), you are limiting your capacity to generate greater wealth.

If this is the situation you are finding yourself in, there are some things you can do to change and create different possibilities. To escape the drudgery of living pay check to pay check, and the trap of the financial hamster wheel, you first need to be aware of your points of view that have prevented you from being abundantly wealthy, and be willing to change those points of view. Without such awareness, you’ll only be applying short-term solutions. There will be no real change.

Here are four strategies to generate wealth beyond your job

1. Change your point of view about money and wealth. Generating true wealth begins with your mindset and the way you think about finance and about making money. Are you willing to see that trying to change your financial reality will be ineffective, until you change your points of view? If you don’t believe that you can generate wealth and have a thriving financial future then you won’t create it.

2. Knowing what you would like to create as your future. Everything you do creates your future. It is essential to be aware of what you would like to create as your life and your financial future. Once you know this, you will start to generate what is required to create your financial future. Ask yourself: “What are you creating? Are you happy to just work hard for your money? What do you really want to create as your future? Where do you see yourself being in 5 years’ and 10 years’ time? What would you like to achieve? By asking these questions, you will become aware of the information you require in order to achieve a thriving financial future.

3. Understand Finance. If you wish to create the wealth you desire, it is essential to educate yourself about money and finance. Educate yourself about what having money is and to be aware of your money situation. Do you have a clear picture of your personal financial position? The first thing you need to do is find out how much money you have, how much you owe, how much you spend, and how much you need to generate each month. You must know what it costs you to live the life you desire, so you can see what kind of money will be required to be generated. This is about looking at how things really are, instead of how you would like them to be.

4. Develop multiple revenue streams doing something that you love and enjoy. The people who love what they do and do it because it brings them joy are the ones who will make money at it. Please get that the energy you create from, is what creates and generates your life. So, do you know what it is that you enjoy doing the most? Become aware of the things that you are good at. It’s very important to be good at what you love to do if you would like to make money from it.

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The Secret to Long-Term Wealth?

Creating sustainable long-term wealth is really about how to go from where we are today to where we truly want to be in the future. It's about increasing the quality of our financial future by developing the one fundamental skill that the vast majority of people have never developed: financial awareness.

The need  to be financially aware and literate is often overlooked yet an increasingly important task for all of us. We can never feel confidence about our investment portfolio as long as we lack financial awareness. Our deficiency in this capacity works at a deep level to undermine our financial well-being. This isn’t “woo-woo” stuff: it’s just how awareness works.

Very few people choose to make financial awareness their priority, and that’s why so few people succeed financially. Unfortunately, most people believe this is something we pay our broker or financial advisor to do for us. With this viewpoint, we can never be in charge of our own financial future. The good news is that it's not too late for most of us to take back ownership and begin to develop financial awareness to change our situation for the better.

In our view, financial awareness is the make-or-break ability that determines whether our financial activities will be wasted, or rewarded. If we don't understand how we will make money on investments and we can't see the risks, we certainly will not be able to create sustainable longterm wealth. Without awareness, we always put our personal finance at high risk. One of the fastest ways to lose money is to start investing our money into things we don't really understand.

Financial awareness is the appreciation and understanding of how finance and investment works in the world, and the ability to use this knowledge and skill to effectively manage financial resources efficiently at a personal-level. 

Our longterm wealth is determined by our awareness, choice, and action. With financial awareness, we know what action we need to take to have an income for life and to able to survive and thrive in any market condition.  It’s one thing to know what to do, and it’s something else entirely to get it done. That’s why the capacity to take conscious action with enough consistency and to manage money with awareness are so critical. 

Become the master of our own finance

Many of us spend our whole life doing the things that are supposed to lead us to a great life but actually lead only to more struggle, stress, and insufficiency. It’s because instead of choosing to cultivate confidence about finance and become the master of our own financial reality, we chose to operate within the limitations of this reality. We have chosen to be in agreement with everyone else about what is. We have rejected what we could have.

One of the areas most critical to creating a great life is also the area that gets the least regard. Think about that for a second. Choosing to operate within the limitation of this reality has more appeal to most of us than choosing to become the master of our own finance, and have financial freedom. How ludicrous is that? Lack of financial literacy is the one thing standing between most of us and being abundantly wealthy.  Our lack of financial literacy leads to making poor financial choices that then have negative consequences on our financial well-being.

Being the master of our own finance is about more than just making good investments. It's just as much about the behaviours, the attitudes, habits, mindset, and outlooks we possess about money that is applied to our daily life, as well as the priorities we choose to live by. 

The good news for most of us is that we can change the points of view that keep us from being the master of our own finance. The way to start off on the path is to make a simple choice to acquire the ability to understand how money works in the world,  how to manage and invest it with awareness.  The most important step in becoming the master of our own finance is to spend time to financially educate ourselves and learn to have our money make money in the way that works best for us.

Creating great wealth and being the master of our own finance is within our reach. It’s been done by many people before, and it is truly possible for each and every one of us if we choose to become prosperous and wealthy. But it requires us to be and do different to create a different reality. Many of us choose what feels familiar or comfortable. But if we’re choosing only what feels familiar and comfortable, and if we continue to choose the same things we have always chosen, we will continue to get the same results we have always gotten.

THE KEYS TO BECOMING THE MASTER OF OUR OWN FINANCIAL REALITY:

1. The willingness to step out of our comfort zone. Start looking at what else we can create and what we can do that will create a different result. Live in the question “What can I do different that will create a different result?” This question will keep us in the forward motion of creating wealth and having financial freedom.

2. Acknowledge what it means to become the master of our own financial reality. It is important to have a clear insight of our underlying vision, desires and priorities. We can start by asking ourselves, ‘What do I want to create as my life?’ What do I want to do in my life? How do I want to live my life? What does it mean to me to be the master of my own financial reality?’ Knowing what we would like to create will lead us to what we’re looking for. If we don’t have a clue about what we’d like our life to be, we have no idea what to choose or where to go. We don’t know where to put the energy to generate our life.  Everything we choose in our life is based on the energy we’d like our life to be.

3. Manage money well and have clarity about our money flows. We must know how much money is coming in and how much is going out…. how much revenue we are generating and how much money we’re spending on our expenses. Create a system for tracking our daily, monthly, and yearly expenses. To become the master of our own financial reality we have to be serious about money management.

4. Cultivate the ability to acquire multiple streams of income producing assets, as well as understand the practice of balancing and rebalancing investment portfolios.  Establishing personal investment objectives and long-term investment strategies prior to making investment decisions is the ultimate solution to achieving financial freedom. A clear investment strategy will enable us to look beyond the moment and put into perspective why we are investing in the things that we do and why we are spending our time today as we are. With clear strategy and through consistent rebalancing, we can ensure that our portfolios remain adequately diversified and proportionally allocated.

5. Discover how to build net worth by owning income generating assets and make the money really work for us, instead of just focusing on creating cash flow. It's generative assets that produce recurring income that create real wealth, because these assets grow and revenue flows from them. One of the reasons most people don't have financial freedom is they spend all their time and energy focusing on producing cash flow. Cash flow gets us through life and allows us to just survive in this reality, but acquiring multiple income generating assets will create financial freedom and different possibilities for us. In order to build a generative net worth, we must first understand the difference between an asset and a liability as well as understand how to make tax-conscious investment decisions.