10 Powerful Steps To Developing A Wealthy Mindset

Let me ask you a question:

What would happen if you won $100,000 in the lottery? The consequences would depend on your mindset.

Have a poor mindset, and that money will disappear in a matter of months.

Have a wealthy mindset, and you’ll turn your prize into millions and millions of dollars and passive income that you’ll enjoy for years to come.

The steps to developing a wealthy mindset are clear and simple, but not all people are willing to follow them to the letter.

Creating abundance requires resilience, patience, and dedication, and you’ll have to make sacrifices.

If you are ready to change your life for the better, here are 10 steps to developing a wealthy mindset that you can follow to achieve financial freedom.

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Table of Contents

10 Powerful Steps To Developing A Wealthy Mindset

10 Powerful Steps To Developing A Wealthy Mindset

In this post, I will share 10 powerful steps you can follow to develop a wealthy mindset and start your journey towards a life in which money stops being a matter of worry.

Let go of fear
Decide what you want and make a pan
Be ambitious
Become habit-oriented
Focus
Invest
Never stop reading
Accept failures
Take care of your environment
Act like the wealthy

Let Go Of Fear

Fear is not bad in itself. It protects us from real dangers—but also from imaginary situations that fill us with worry.

I want to focus on this last fact. Think of those terrifying situations you’ve imagined in the past. Have they ever come true?

The reality is that we tend to worry about things that will never happen in most cases.

The solution? Feel the fear, but don’t let it control you.

Each of us has a huge potential to shine, but fear ends up hindering us from making decisions and living the life we want.

When you shift to a wealthy mindset, you embrace change, uncertainty, and risk.

As Will Smith says: “The best things in life are on the other side of fear”.

Leaving the job you hate, making your first investment, starting your first business—or your business N°30: no matter in which stage of your journey you are at, you’ll have to take risks.

And who doesn’t take risks doesn’t win.

Decide What You Want And Make A Plan

We usually pass the days desiring and fantasizing about things, but we rarely make time to set concrete goals and come up with a plan to achieve them.

Great mistake! You start working on your dreams when you DECIDE that you will get what you want.

Yes, you CAN say goodbye to your 9-5 job, you CAN pay off your debts, you CAN pay the house of your dreams in cash, and you CAN live life to the fullest.

We usually focus on end results (luxurious cars, fame, successful product launches, skyrocketing sales), but we don’t see the hard work, the sacrifices, and all the money and time that were invested to get those results.

The foundation of any type of success is simple: a DECISION + a PLAN + ACTION (and continuous improvement).

You can define your dreams today.

Grab a piece of paper and a pen and write in one sentence what you want.

make-a-plan — By Green Chameleon, Unsplash.

Remember, your goal must be S.M.A.R.T., an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-Bound.

For example, if you want to pay off debt, your goal will be as follows:

“I want to pay off debt.

How much? $5,000 (Specific)

How can I track my progress? Through my bank account/ personal finance spreadsheet (Measurable)

How? Saving $1,000 per month (Achievable)

Why? I want to stop worrying about owing money to someone else (Relevant)

By when? In five months (Time-bound)”

Then, create your plan to save $1,000 per month. This can involve meal prepping to save hundreds per month, cutting down costs on utility bills, eliminating unnecessary subscriptions, and planning fun activities at home instead of going out.

Don’t think it twice and write down your dreams today!

Be Ambitious

It’s obvious, but so important: to achieve big things in life, you have to think big.

You’re not going to work hard and overcome yourself if your goals are easy to accomplish.

You can always be better. You can always be richer. An extraordinary life is waiting for those who are ambitious.

be-ambitious — By Shayna Douglas, Unsplash.

Think of it in this way: ambition is your motivator. It’s the fuel that keeps your inner fire intact when life throws challenges at you.

When you stop dreaming, you practically die inside.

You’ve made it. Now what? Is it worth it to say ‘I’m ok with what I have’ when you are capable of so much more?

When you develop a wealthy mindset, you know that your full potential is yet to be unlocked.

And, most importantly, you know that your biggest enemy is conformism, that toxic state that hampers your personal progress.

Set the bar high. And when you get there, set it higher.

Become Habit-oriented

James Clear said it well: ‘Success is the product of daily habits—not once-in-a-lifetime transformations.’ (Atomic Habits).

And the truth is that developing a wealthy mindset involves adopting good habits that help us take our progress to the next level.

We all have habits: whether it’s watching Netflix after work, going to the gym after waking up, or taking a nap before dinner, all activities fall into the category of ‘habits’.

Our task, then, is to analyze these activities and ask ourselves if they are leading us to where we want to be.

Are they helping us or rather making us sink?

When you switch from a poor mindset to a wealthy mindset, you become pickier with how you pass your day and in which activities you invest your time (and money).

You’ll learn sooner than later that the famous phrase ‘I don’t have time’ is just an excuse to let ourselves go.

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16 Habits Of Poor People And How To Break Them

Focus

When you switch from a poor mindset to a wealthy mindset, you understand that time is money.

That’s why you need to do the greatest amount of work in the shortest period of time.

How do you achieve this?

First, eliminate the phrase ‘I don’t have time’ from your vocabulary. You have time for your priorities.

Set your priorities and work on the tasks that produce money.

This means eliminating Netflix, the news, parties, social gatherings, and social media.

Too difficult? Try removing one of them at a time. These are the activities that drain most of your energy.

You should avoid distractions at all costs to achieve maximum productivity.

Avoid doing many things at once too. Multitasking hinders progress.

You’ll feel that you are ‘busy’, but at the end of the day you’ll end up doing nothing.

Focus on your top priorities and, for God’s sake, do the difficult tasks first!

Lastly, remember that you can always delegate or automate tasks to save extra time and energy.

Invest

If you want to live in abundance and have a wealthy mindset, prepare to invest lots of money and time to reach your goals.

Sometimes we find ourselves suffering to ‘spend’ money on things that are good for our future. Read it again.

Does that make any sense? You’re not spending money; you are INVESTING it. That money, eventually, will return to you multiplied.

On the other hand, investments do not belong only to the world of stocks and bonds.

Yes, you SHOULD pay attention to your personal finances (did you start your retirement fund yet?), but you should also invest in your mind and body.

This involves refining your food choices, working out, getting good sleep, and meditating.

Investing in yourself also entails expanding your knowledge and perfecting your skills through free and paid courses on the Internet.

Stop wasting your time and, instead of laughing at funny cat videos on YouTube, binge-watch courses on the area of expertise you want to perfect on the same platform (and for free!).

Never Stop Reading

How much money are you losing for the things you don’t know?

Ignorance is the nemesis of progress.

If you analyze the behavior of people with a wealthy mindset, you’ll notice that they have something in common: they all learn something new every day. They READ.

Take for example Bill Gates: he reads 50 books per year.

If you want to develop a wealthy mind, you’ll have to invest in knowledge.

Here are my top 10 books I recommend to get started:

Accept Failures

Part of developing a wealthy mindset is knowing that you’ll make a gazillion mistakes before getting what you want.

And it’s ok. Some people throw the towel after trying one or two times to be successful.

It doesn’t work that way, at all.

Those who persist, keep trying, and resist all punches are the ones who win the battle.

Dan Lok, multimillionaire and business mentor, failed at 13 businesses in the course of 3 years before he had his first success. 13 times! Talk about resilience! (BTW, I loved his book ‘F.U. Money’; give it a shot).

Failures are not a reason to give up. Instead, use them as motivation to optimize the way you do things and keep going.

Take Care Of Your Environment

With ‘environment’, I refer to the people you surround yourself with.

You see, when you start focusing on your goals, you want to avoid anything and anyone who drains your energy.

You’ll soon learn that the fastest way to produce abundance and wealth is learning from people who have already achieved what you want and who have the wealthy mindset you aim to have.

Surround yourself with mentors, with people who support your journey and force you to level up, not with people who envy your progress or who simply prefer to live in their comfort zone.

This type of ‘toxic’ people makes you sink with them and holds you back in life.

To develop a wealthy mindset, you’ll definitely have to be pickier with your social relationships.

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Act Like The Wealthy

‘You don’t want what you don’t know’.

This is one of my favorite quotes from one of my personal finance mentors, Juan Diego G. Gómez.

And it’s so true.

Last year, I decided to gift my husband a dinner at one of the most luxurious hotels in Buenos Aires for our anniversary.

Let me tell you, it was an experience that we’ll never forget in our lives.

The level of service, that gourmet touch, the luxury that surrounded us at all times: it was all just perfect.

What happens when you live this kind of things?

Well, there’s no turning back.

Once you surround yourself with abundance, you practically decide, that very day, that you deserve that and so much more.

So, act like the wealthy. Have luxurious experiences.

After living in that temporary state, you’ll work harder than ever to achieve the life you want because now you know that the BEST of the BEST is waiting for you.

In simple words, don’t settle for less in life and always, ALWAYS!, aim for the stars 😉

These were the 10 steps to developing a wealthy mindset! Now you have the tools to improve yourself, grow, and manifest abundance in your life.

Remember that the key here is to always get out of your comfort zone and take risks while educating yourself and making smart time (and money) investments to achieve your goals.

Enjoy life to the fullest. That’s what we’re here for!

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10 Powerful Steps To Developing A Wealthy Mindset

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