8 Key Attitudes to Success

Do you have the key attitudes and mindset to succeed in the game called life?

Having the right attitudes, behaviors and habits must be in place to prepare yourself towards financial freedom.

Here are 8 Key Attitudes to Financial Success

1. WHY

Your why is your purpose; your ultimate driving force. Figure out your main motivations, and establish a very compelling WHY. (How to Find your WHY)

Your driving force has to be meaningful. Without a ‘why’, it will be difficult to maintain the discipline to move forward.

Without a meaningful ‘why’, you’ll end up chasing that big paycheck and having fancy cars but still feeling stuck and miserable, making money for all the wrong reasons.

What are your motivations? If your ultimate drive to financial wealth is to accumulate material wealth and stuff, it would be hard to sustain efforts. Money is not usually the best motivator, nor is collecting fancy stuff the end goal. The more money we have, the more we’ll want. Money without purpose will leave us miserable and empty.

Some people are so poor all they have is money by Bob Marley

Remember: money is just a tool.

The ultimate purpose to finding your WHY is so that when you create money with purpose, you align purpose with life.

2. Personal Commitment

This should go without saying: to be successful you need to be committed to the hard work. You need to be passionate, you need to be consistent. You might not be able to see the results several years down the line. Successful people are marathoners, not sprinters.

3. Pro-Money Attitude

Stop telling yourself that money is evil.

Have you ever noticed people hating on wealthy people for no reason, angry at them just because they drive a Ferrari or own a big house? Stop thinking that money is dirty and the root of all evil. If you have a negative relationship with money, you will never attract any in their life. Embrace money in your life. It starts with a pro-money mindset.

4. Your Partner and Team

Your main team–your partner and your family–will help you realize your goal.

Find key partnerships that share the same vision. What I mean your team, your family. Your spouse will be your life partner-slash-business partner, he or she must have the same goals and values as you. Avoid high maintenance partners who will only be out to hemorrhage your bank account.

Surround yourself with money-minded friends. You are the average of the five people you spend the most time with. Expand your networks to people who are successful who also have a pro-money mindset.

You should also influence your friends to have the same goals–it will be more fun and easier if you have someone else undergoing this same journey and go through the same learning process.

5. Simple and Frugal Lifestyle

“Life is simple but we insist on making it complicated.” – Confucius 

Adopt the right habits. It all starts with living below your means. Warren Buffett said that he only had one rule: don’t lose money. Sure, frugality isn’t fabulous or trendy, but it works. The more surplus you have, the more you can use it to invest in wealth-building opportunities.

“But Being Frugal Sucks! I’ll Just Earn More!”

Sure, saving does not sound as fabulous as spending. But there are several reasons why savers win in the end.

Big spending reflects irresponsibility. Big spenders get FOMO and make impulsive purchases. Spenders are no better at money management than those who win the lottery and squander it all away.

Extravagant spending not only affects your own personal finances, it also affects the world. Big spenders imagine that they can throw garbage away and it would just magically disappear. High spending builds a world we won’t like. Indeed, high spenders build a world based on predatory capitalism–externalities such as child labor, pollution, abolished communities, waste production and more environmental externalities.

Frugality means taking responsibility. Frugality is about making mindful choices and conscious decision making. (Read more tips on How to be Frugal)

Savers focus on what’s important in their life. “I’ll start saving once I make more money” is a common excuse among spenders–but the truth is this:

If you can’t manage a dollar, you can’t manage a million.

If you can’t manage a dollar, you can’t manage a million.” | Economerienda

6. Unwavering Curiosity and Growth Mindset

Average people buy stuff, clothes, gadgets to make them feel fulfilled. Successful people on the other hand spend on education, read books, or work on learning or refining skills.

Having a curious mind leads you to constant growth. Invest in talents, skills, hobbies, and interests that will enhance your lifestyle as well as your earning potential. Broaden and deepen your mind and connect with mentors. Use valuable resources to enrich your most valuable asset: yourself.

7. Valuable Resources

Find a good mentor. A good, experienced mentor has made the same mistakes, challenges and setbacks that you have, and he will give you sound advice. Learn from the mistakes of others–it is less expensive! A good mentor knows what it’s like to be in your shoes, but can help you see beyond.

We live in a time when a lot of valuable content is now easily available–books, articles, podcasts, shows and more. Consuming content is like consuming food for your brain–you must nourish your mind with healthy brain food, not junk food.

Read, and read a lot. Do you know that an average CEO reads an average of 60 books each year? Warren Buffett himself reads up to a thousand pages a day. Aside from books, consume valuable, high quality shows, documentaries and podcasts.

8. Sound Judgment

Hard work is a requirement to getting wealthy, but it’s not the ultimate deciding factor. In the end, sound judgment matters more.

Wealthy people make important investment decisions—decisions amplified with leverage, to make sound judgment on how to allocate labor, technology, capital.

Forming good judgment is through learned wisdom from experience, knowledge and advice from mentors.

Now that you know the key essentials to financial success, it’s now time define your goals so you can finally to jumpstart financial planning journey.

Listen to the Podcast – Key Attitudes to Success

Step 1 – Financial Planning and Preparing

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