As a financial journalist for more than 20 years, I can tell you first hand that people who create wealth have a different mind-set about money than people who don’t. It may seem that it’s easy to be positive about money when you have it, but that’s actually putting the cart before the horse — the attitude and mind-set have to be there first; Â the money follows.
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When you consider that African Americans are only a few generations from slavery and don’t have much history when it comes to generational wealth and information, and the systemic and socioeconomic factors such as predatory lending, discrimination, etc., it’s easy to see how a ‘struggle’ mentality about money has set in for many. A change in attitude, however, is exactly where many of us must begin in order to create financial lives that reflect our true value and who we truly are.
Steve Siebold is one of the world’s foremost experts in the field of critical thinking and mental toughness training. He is the author of eight books, two of which are international bestsellers and have been called the gold standard in the field of psychological performance training. His book How Rich People Think is based on more than 1,200 interviews with some of the world’s wealthiest people over the past 30 years.
He says these 10 things could be keeping you from acquiring more money:
1. You have middle-class beliefs about money.
In other words, you could have all the potential in the world, but if you’re not seeing money for all the positive things like the freedom and opportunities it brings, and you focus on lack and limitation, you’re always going to be stuck in the middle class.
2. You hang around people who have no money.
Money certainly doesn’t define the type of person you are. Some of the nicest people with the biggest hearts have no money at all. But if your goal is to acquire more money, you have to get around people who have money and learn from them. Consciousness is contagious. It’s the same thing if you wanted to lose weight. You’d join a gym and start hanging around fit people.
3. You’re too comfortable.
Most millionaires will tell you that, especially in the beginning of the wealth-building process, you have to learn to operate in a state of regular uncertainty. The need for comfort, or knowing that you’re not taking a risk, will always hold you back. If you take the plunge you have to stay strong and keep your eye on the prize. The payoff is well worth the effort.
4. You’re terrified of failure.
If you want to succeed, you have to fail first. It’s how we learn and grow. Check your ego at the door and stop worrying about failure. Start to see yourself as a comeback artist and learn from every missed opportunity. Failure is necessary for building massive success.
5. You believe its noble to be poor.
There’s nothing wrong with wanting more. Yes, you should be grateful for what you have, but it’s not being greedy to strive for more. Ambition is a natural trait among human beings and is the driving force behind every great innovation. Ambition is not a sin; it’s a virtue. Never feel guilty about wanting more money.
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6. You believe you’ll have to sacrifice your family life.
Despite what you may have been led to believe, it’s not an either/or equation. You don’t have to choose between massive success and riches and a happy family life. In fact, use your family as a motivator to strive for bigger and better things in your life. Imagine being able to spend as much time with your family as you like because you don’t have to worry about money.
7. You don’t think you’re smart enough to be rich.
Being book smart has nothing
8. You don’t believe you deserve to be rich.
The average person believes being rich is a privilege awarded only to lucky people. The truth is, in a capitalistic country, you have every right to be rich if you’re willing to create massive value for others. If you want to be rich, the first step is to believe you deserve it.
9. You have a lottery mentality.
The masses love the lottery because deep down they believe it’s their only chance to get rich. This instills the belief that you have to be lucky to get rich. Stop relying on luck and start expecting more. Expect to make one-million dollars next year. You might not make that much money, but you’ll be thinking big and in the right frame of mind to attract more money.
10.  You trade time for money.
Most people think the only way to make more money is to work more hours. Stop trading time for money. Start looking at making money as a non-linear process, which is about finding solutions to problems. The linear way is the obvious. The non-linear way is the non-obvious. Non-linear thinking and ideas are the way to riches.