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The 3 attitudes you should have about money

April 19, 2020

Do you want financial independence? You must start to see money as your ally and teammate.

The opinions expressed by collaborators are personal.

When you see people with money who seem to have complete financial freedom do you think “Someday that will be me”? Then do you go back to your job or business and work to really achieve that goal?

The 3 attitudes you should have about moneyThe 3 attitudes you should have about money

This is most likely not going to happen as quickly as you want, and you're starting to wonder if it's possible to achieve the financial independence you've long hoped for.

You should stop questioning these things. The truth is that generating wealth is not about how much you earn but about what you do with the weights you have.

No matter what industry you are in, what is defining is the attitude you have about money and how you treat it. Here are three attitudes about money you should adopt before becoming financially independent.

1. Weights are chess pieces

Yes, you must think of your coins as if they were pawns that you must strategically move. This means putting them to work in different ways. Truly independent people are very good at doing this and with a little practice you can do it, too.

Whether you are still an employee or have your own business, your attitude towards money must be the same. When you receive a payment, you must accommodate a certain number of pesos on the “battlefield” for it to work for you. Invest it again in your company, buy a property, outsource a job that bothers you and that takes away time that you could spend on other things, invest in the bank, etc.

Treat your weights like chess pieces and place them in strategic positions so that they generate more money for you. Do you see how this works? It can be a difficult habit to generate, but with a little practice you will see that accommodating your money will become second nature.

You will see each peso as an opportunity for financial growth. In fact, it's a bit addictive!

2. Small leaks can sink even the largest ship

Many people believe that “a little weight here and a little weight here” does not make a difference. So they go through life spending because they think “how much is so little”.

Well, I have news for you. When you do accounts at the end of the month, that “little bit” adds up to a significant amount. Three hundred pesos of impulse purchases a week can become more than a thousand pesos spent in a month.

You should end all those fixed expenses that are made and that really do not contribute anything to your finances. For example, you could start by running on the street and buy some weights for your house instead of paying a thousand pesos a month for the membership of a gym you always go to or pay the Netflix monthly fee instead of paying more than 500 pesos for cable TV. All these expenses become thousands of pesos a year that you could be using to increase your finances .

The sooner you determine what small and unnecessary expenses are in your monthly budget, the faster you will figure out how you can avoid them. Think, all that money that is spent on trifles are pesos that you could have working to increase your wealth, like the chess pieces that they are.

3. Do not change the hours for pesos

You may be in an industry that allows you to collect hundreds of pesos for every hour of work, but at the end of the day you have to dedicate time to earn that money. There is nothing wrong with that, but you must learn to delegate work and still generate profit.

If you have your own company, it is time to bring employees that allow you to grow your business while they are dedicated to solving the daily operation.

For example, at the beginning of my career I used to rent properties and do all the administrative work, which did not allow me to look for other types of earnings and business options. So not paying someone who was dedicated to managing the day to day cost me large amounts of money and many opportunities for growth .

Don't let this happen to you. Simply, don't spend pesos for wanting to save pennies.

In short, you should start to see money as your ally and teammate so that it works in your favor. Adopting these three attitudes will help you change your financial future.

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