Adjusting your Financial Thermostat

The only difference between being an entrepreneur and being someone who dreams about it, is mindset.

If you’re unfamiliar with the financial thermostat overview concept, read this post:

How to Set Your Financial Thermostat

Whenever I needed to bring on a new team member, their resume and skill set mattered far less to me than their attitude. You can be the most experienced and knowledgeable person for the job and if you have a terrible attitude, it’s toxic to the team. But if you have the right attitude, anything else can be taught.

Unfortunately your attitude is not something that will likely be influenced by anyone other than themselves. Attitudes can change – but only if there’s an awareness and acknowledge ment that a change is necessary, and the willingness to do the work.

I was introduced to this quote many years ago and kept a tattered photocopy of it pinned on a bulletin board in my office for years.

ATTITUDE by Charles Swindoll

“The longer I live, the more I realize the impact of attitude on life. Attitude, to me, is more important than facts. It is more important than the past, than education, than money, than circumstances, than failures, than successes, than what other people think, say or do. It is more important than appearance, giftedness or skill. It will make or break a company… a church… a home. The remarkable thing is we have a choice every day regarding the attitude we embrace for that day. We cannot change our past… we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play the one string we have, and that is our attitude… I am convinced that life is 10% what happens to me and 90% how I react to it.
And so it is with you… we are in charge of our Attitudes”

In T. Harv Eker’s book, Secrets of the Millionaire Mind, Eker introduces the concept of a financial thermostat. He asserts that the difference between those who create and retain wealth versus those who struggle is a difference in the financial setting that they are mentally comfortable with.

But what determines your personal money thermostat comfort level? People tend to think that if only they would have more money then, blah, blah blah. And if they were to

Millionaires are “programmed for wealth,” their unconscious thoughts about have been money shaped by childhood experiences and role models. Their thermostat is set to high. If your personal thermostat is set to low, no matter how much money you make, you will somehow manage to spend it until your finances are more “comfortable.”

To adjust your thermostat, you will need to adjust your firmly held beliefs about money and more importantly your habit arising from any thoughts that limit what’s possible for you and your money.

In this lesson, you will confront your limited thoughts, and be given new actions to take consistent with someone whose financial thermostat is set to “wealthy.”

When I began to sort out my beliefs around money, I noticed that I righteously believe that one must to work hard for money. It must be well-earned and deserved. While that may be well and good, that’s not the kind of thinking that will translate into building passive streams of income, for example.

Scarcity or Abundance?

Modern Money Theorists organize along the value of abundance, the principal that there is enough to go around, that we can all afford freedom and dignity.

Are you operating from a “scarcity” mindset, or from a place of “abundance?”

Examine the habits of the wealthy and have you choose one or two to put into action for yourself.

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