Is Your Money Mindset Setting You Up for Failure?
My question is: Is Your Money Mindset Setting You Up for Failure?
People want to make money. You see celebrities and other famous people's lavish lifestyles and wish to have the same lifestyle. But is your drive for money blinding you to what is truly important in your life?
It is often said that if you do something you love, money will follow. There seems to be something to this because you will approach whatever you love passionately. You'll get better at it to the point where you are better than everyone else, or at least that is what you strive for.
On the other hand, if making money is your driving force, how will you accomplish that? You will chase the money from one job to the next or from one opportunity to the next. You will get seduced by false offers of riches. Over time, you will look back and see that not much has been accomplished.
You may be successful in the short term in getting that extra dollar from a new job or squeezing a quick revenue boost from your business. But, you will continuously be in search of more money. You could even put yourself into a position where you can’t handle the new job because you lack the necessary experience. In other words, you didn’t give your previous level enough time to develop a foundation. You jumped ahead, and now you are unclear about what to do. It’s a concept known as the Peter Principle, named after the person who came up with the idea, Peter Drucker.
Money isn’t as crucial as many try to make it out to be. For instance, what good is having a high-paying job when you have to work 80-90 hours a week? What kind of life is that? Many people do this look back at their lives and wonder why they did it. While they may have a lot of money when they get older, they likely don’t have anyone to share it with. Another possibility is the heavy workload to obtain that wealth brings them to an early grave. The money they earn is useless to them if that happens.
Money becomes a secondary priority if you are happy with what you are doing. People need money to live, and you shouldn’t settle to work for less than you are worth. But, when you can balance a decent amount of money with doing something that you enjoy, it will bring great satisfaction into your life.
Working on your money mindset gives you the correct foundations for wealth building, with grace and ease and less hustle and bustle.