The most important attitude for financial success is long-term thinking(i.e thinking like a millionaire) Successful people think long-term into the future and they keep adjusting their daily behaviors to assure they action their long-term goals. In the 50s and 60s a longitudinal study was done at Harvord University. They studied the upward socio-economic mobility. Their aim was discover the factors that would predict whether or not an individual or family with more upward and be weather in the near future than in the present.
The first corollary of the principle of abundance state that,” people become wealthy because they decide to be come wealthy.” They decide that that they can become wealthy because they have the ability to be. Because they believe in this completely. They act and speak accordingly. They take the necessary actions that turn their beliefs into realities consistently. Your actions clearly slows your beliefs.
The second of the principle state: people are poor because they have not yet decided to become rich.”
Why Your Past Doesn’t Matter
Factors they studied include education, intelligence, having the right connections or being born into right family. They found that there were individuals who though were born with every blessing of life did poorly. They also found out that there were individuals who though were born or come into American with no advantages at all who were extremely successful. What was the distinguishing factors?In this article ‘how to think like a millionaire’ we will look at it in details
Time Perspective Is The Key
They come to a conclusion that only one key attitude that mattered. They called it “Time Perspective.” It refers to the amount of time taken into consideration when planning your daily activities and making important decisions in your life.
Individuals with long-term perspective invariably more up economically in life. Spending weaks, months, and years developing your ability and skills and expanding your experience in order to be successful, shows you have long-term perspective.
Everything are doing today is part of a long-term continuum at the end of which you will be financially independent or unfortunate. Individuals with short term perspective think only of pleasure and fun in the short term. They have what the economist call “the inability to delay gratification. They have the tendency to spend every penny they earn and everything they can borrow.
Get Onto The High Road
If you develop long-term perspective you have succeeded to develop the discipline to delay gratification and also to save money rather than spending it. To put yourself on the high road to financial independence, you need to combine long-tern perspective and delayed gratification.
You need to think long term about your finances. Decide clearly how much you want to be with 5 years, 10yeras and twenty years from today. Write it down clearly. Make a detailed plan. Take concrete action on your plan every single day.
Also develop the ability to delay gratification. Don’t buy on impulse. Decide what you want to buy in advance buy you buy it. This will change the way you spend your money almost immediately.