Friday, April 23, 2010

Mastering Your Money Mindset

By Julie Marie Rahm

Today I’m going to blog about four metaphorical tools you need to master your money mindset and accelerate toward abundance. Mastering your money and mastering your mindset go hand in hand. Why? Because what you focus on grows. When you put a lot of thought energy behind something, you get more of it. How can you tell if you’re directing your thought energy toward abundance?


You need the first tool for today – your metaphorical level. Your level has two functions. The first function is to monitor your mood. You know you’re directing your thought energy toward abundance when your mood is in balance and you feel good. When you begin to feel bad, your level tilts, indicating your thoughts are taking you away from abundance.

Often, it’s something small that tilts our levels – someone cuts us off in traffic or someone drives too slowly in front of us; someone puts the empty cereal box back in the cupboard… So you can use your metaphorical level to monitor your mood and indicate when you need a mindset tune-up to accelerate back toward abundance.

The second function of your level is to indicate on which side of something you’re focused - the lack of it or the abundance of it, because there are two sides to everything. Did you know that fear and greed drive 95% of decisions people make about buying and selling investments like stocks and real estate? Both fear and greed focus on lack. Fear, because we think we’ll lose money if we don’t make a move one way or the other. Greed, because we think we might miss out on having more profit. Since what you focus on grows, focusing on lack brings more lack. Focusing on abundance brings more abundance.

How about noticing something you’d like to have? If I say “I would like to have a shiny new red corvette.” Is that focusing on lack or abundance? Lack, because I am noticing that I do not have something I want.

As an investor, when you focus on abundance, you have good vision for what could be. You see the possibilities. So, you make good risk management decisions and you maximize your investment potential. Even in the worst economic times, someone made money, and often a lot of money! If you have a wealth manager advising you, make sure that person has an abundance mindset. When you join in that mindset, the sky is the limit, because you are not limiting yourself to what have traditionally been good investments.

So your level is tilting. What do you do? You bring out the second tool, your metaphorical hammer, and use it to hammer out negative or lack thoughts, and hammer in the framework for abundance one thought at a time. One thought at a time is critical. If you feel rage, the leap to bliss is ginormous. It is important to believe the thoughts you “hammer in”. So if you feel rage, find a thought that moves you up to mere anger. Then find a thought that moves you to blame. Work your way up to a glimmer of hope again one believable thought at a time.

Let’s continue with the red corvette example. I will hammer out the lack thought of noticing I want a red corvette that I do not have. And I will hammer in the framework for abundance with the thought that I could buy a red corvette today, I’m just choosing to spend my money on something else.

If you really want to have some fun developing an abundance mindset for money, put a $100 bill in your pocket and mentally spend it all day as you move from store to store or on the Internet. By doing that your thinking changes from “I’d like to have that, but I can’t afford it, or it’s too frivolous” to “I could buy that, because I have $100 in my pocket”.

Let’s go back to the level again. Maybe something happens and your level tilts suddenly and dramatically. When we have a disproportional response to something that happens, it is usually because the event triggered a lifetime of negative thoughts and emotions. And, those thoughts and emotions usually are not directly related to the event at hand, but something on the periphery of it. When that happens, you need your metaphorical plumb line to point to the heart of the matter and get to the truth about the experiences and memories that are really troubling you.

Like my client in California who started getting excruciating headaches when he was laid off just before he could refinance his $600,000 mortgage, the rate for which adjusted from 3% to 7%. He went into a tailspin thinking that in addition to his financial woes, he had a brain tumor and was probably going to die just like his grandfather did. The metaphorical plumb line pointed to a cash flow problem, not a health problem. When he found another job, his headaches went away.
Then, you need the fourth tool, your metaphorical utility knife, to instantly cut the tie to the cumulative effects of those negative experiences and memories so they are never triggered again. By neutralizing the cumulative effect of negative experiences and memories, you are free to deal only with the thoughts and emotions of the moment, which is a much easier task to master and you maintain your abundance mindset.

My friend needed to cut the tie to the cumulative effects of the experience and memory of his grandfather’s death.

So, now you know about four of the metaphorical tools you need in your “tool belts” to give yourself a mindset tune-up when you need it so you can accelerate to abundance.

The level – to monitor your mood and to indicate whether your focus is on lack or abundance

The hammer – to hammer out negative thoughts, and hammer in the framework for abundance one thought at a time

The plumb line – to get to the heart of the matter

The utility knife – to cut out the cumulative negative effects of your experiences and memories

I invite you to schedule a free 15-minute consultation with me to discover the truth about what’s really causing your issues when they arise, and which metaphorical tool you need most to accelerate to abundance in every area of your life.

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