Tuesday, March 24, 2009

Top 5 steps for building wealth consciousness

"Prosperity or poverty begins with thought" - Sri Bhagavan

"Ignorance or insights also begins with thought" - Sri Bhagavan

"Creating wealth is a spiritual sadhana" - Sri Bhagavan

Below are the top 5 steps.

(1) Eradicate Your Limiting Beliefs About Money

Some people scorn at the mere mention of money. How many times have you heard people say “Oh, I’m not doing this for the money” or “Money isn’t everything.” Well, they’re not wrong. The fact is money in itself has no absolute value. It’s the things that money can buy when in circulation that makes it valuable. It can buy material possessions yet at the same time, if you look from a different angle, once you’ve got enough of it to be financially free, it can literally buy you off from laborious work to spend more precious moments with family. You can also contribute it to charity and benefit the less priviledged.

On the other end of the scale, some people tend to overvalue the importance of money so much so that they become slaves to it. They loved money and let this passion cause their downfall.

In essence, if you never come to terms what money can bring forth into your life (i.e its value), your uneasiness with the “idea” of money will limit your ability to attract more of it. To put it simply, just imagine this, would you go into a car showroom if you’ve never had the intention to purchase a car? You may not want to buy it now, but the fact that you walked into the showroom implies that you appreciate the value of what a car brings. It can serve as a means of transport for you and your family. Or, if it’s a luxurious car, it may bring you the associated prestige with owning it in the first place. Because of your perceived value tagged to owning a car, you’ll find means and ways to get one. Likewise with money.

Remember, you can’t desire something that you’re not in resonnance with.

Therefore, it becomes imperative that before you learn about other steps to hone this wealthy mindset, you should start having a conversation with yourself to remove the beliefs that’s limiting you about money. You can make use of the following exercise to help you with this.

a) Write down the limiting beliefs

- I shouldn’t earn more than what my husband is bringing home
- Rich people don’t care about the poor”

b) Ask yourself power questions to trigger a refreshed view about money
- If money is not an issue an all, what will be the positive things that you can do for your family and community?
- Out the things that you would like to do, which one ties in closely with your personal values and goals?
- What are the reasons you aren’t rich yet?

c) Tease your original limiting beliefs to create new affirmative statements

- My husband will be delighted to know I’m earning more than him because we’ll have more income to go for family holidays with the kids
- Selfish rich people may not care about the poor but I know I’m not.

d) Pick the most sensational one and repeat it everyday

(2) Decide You Want to Be Wealthy & Justify Why

Everyone has the right to be wealthy. Yet, most of us allow a temporary lack of money eat into our minds, literally confining us into the vicious cycle of poverty. One of the colloary of the Law of Abundance states “People are poor because they have not yet decided to be rich”. So long as you manage a conscious decision to become wealthy and have utmost faith that you can achieve it, you act accordingly to what you believe. Say “Yes” to getting wealthy today! And say it with conviction.

Deciding to be wealthy only gets you started on the quest but what sustains you throughout the journey is the why. What is the reason that you want an extra $1 million into your bank account? Why do you want to work your butt off, sacrificing your weekends to man your business? Where can you seek inspiration if the going gets tough and you’ll feel disheartened? Yes, it’s all in the why. If you do not have a burning desire supporting your decision, you’ll find your motivation waning sooner that you think you can last.

Take a piece of paper and scribble down all the reasons that you can think of. Maybe you’ll like to retire earlier and travel around the world? Or you can quit your job and be a full time parent? Etc etc.

Needless to say, the one that resonates with the deepest part of your heart should be written on a index card to remind you of your bottomline.

(3) Determine How Much Do You Want

How much you want will inadvertently determine the action that you’ll need to set forth to reach it. For example, if it’s $2,000 per month that you’re looking for, working in your existing job might suffice. However, if $100,000 per month is what you intend to achieve, other alternatives such as starting your own business, investing in properties or working on your skills to get a better paying job may be more effective. More importantly, knowing how much you want prepares your mind for the potential issues you may face and keep it upbeat.

The challenge therefore becomes, how do you know how much you want? It’s tempting to arbitrarily quote a figure but this will probably do you more harm than good. If the amount is much higher than what you want, your approach to acquire the wealth may be too drastic within the same timeframe. And you may end up burning yourself out. In the event that the amount is lesser than what you need, you’ll probably have to delay your gratification longer than you expect.

Determining how much you want need not be rocket science. You can do this by taking into consideration the objective for which you want the wealth for and do a high level analysis of the costs necessary to sustain it. Say if your reason is to provide your family with a comfortable lifestyle, you can include the costs of travelling overseas for holiday twice a year into your analysis. Continuously review this list of costs to ensure that you’ve got most if not all covered.

(4) Brainstorm On How to Get There

A lot of people think having a wealthy mindset involves only constantly thinking about getting rich. It’s only part of the equation. Brainstorming on how to get there is another important element that actually exposes the mind on the many possibilities.

Suppose you want to get from point A to point B, there’s route 1, route 2, 3 all the way to n (i.e. infinity). When you’re planning how to get there, the mind starts considering the many options and may prompt you to act on one of them. Along the way, your wealthy mindset may attract different opportunities, encouraging you to change course and go through a totally somewhat exhilarating experience.

Here is a classical example of a man who became rich. Initially, his plan was to market his own music compositions through the internet. But incidentally, he stumbled on online internet marketing and embarked on a unconventional route to becoming a internet millionaire. It was not an easy route as he had to juggle learning about the new knowledge and a full-time job. But his burning desire to be rich and financially free got him through the hurdle to get him to where he is today.Only the process of learning by acquiring the relevant information helped him to get there.

(5) Imagine As If You Already Have It

That before you physically acquire the wealth that you’ve envisioned, you need to live it as if you’ve possess the amount of money that you desire! Since the subconscious mind is unable to differentiate between actual possession and mere visualization, by imagining that you already have it, you’re encouraging your subconscious mind to seek ways to transform your imaginary feelings into the real thing.

I know many people refute this step thinking that it’s impractical. But if you think about it, isn’t everything around us a true manifestation of someone else’s imagination? The Wright brothers imagined being able to fly and the reality is, we’re now able to fly in an aeroplane from 1 country to another in a matter of hours and sometimes, even minutes. Thomas Edison imagined lighting the whole room using a single source and as a result, the lightbulb was invented! Christopher Columbus imagined a new world and found the American continent. And many many more.

It’s a fact that without the imagination of these great visionaries, we’ll not be able to enjoy many of their discoveries. At a micro level, you too possess the same capability to create, improve your own destiny by constructing it in your mind. Brian Tracy said it best in his statement, “All improvement in your life begins in the improvement in your mental pictures”.

Forever at the Lotus Feet of Sri Amma Bhagavan,

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