What would you do if you had a million dollars right now? Would you report to work tomorrow because you love what you are doing? Would you take your hobbies to the next level and make it a business? Would you be happy?
Having more money won’t necessarily make you happier. Having money can make you more of what you are. This is good news but also a warning. It’s good news because if you are content having a little money, then you can continue to be content with having lots of money. It’s a warning because if you are foolish with a little money, you will be more foolish with lots of money.
Are You Doing What You Want to be Doing
Don’t wait to have money in order to be in the career that you want to be in. Don’t wait to have lots of money to be a good spouse or a good parent. You can do what you are doing and be working at the job that you want to be at whether you have a little money or a lot of money. Having money can give you more opportunities, but it will not make you happy at the job that you are in right now.
What’s Holding You Back
What is preventing you from being wealthy? There are usually two sides to this equation. You are either spending too much or not making enough, and your attitude can affect each one.
Too Much Spending
When you are spending above your means, you are not being content with what you have. There is no way for you to be happy when you are not content. You are trying to obtain happiness by spending money, but it’s holding you back. It’s keeping you at a job you don’t like or maybe ruining your marriage. It’s not helping build wealth.
Too Little Income
Most of the time you aren’t building wealth because you are not living within your means. A few times you don’t build wealth because you have too little income. Whether you are content or not and making $25,000, you cannot save that much with that little of an income. It’s fine to start out your career making $25,000, but if you are not advancing above that and are able to, then you need to look in the mirror and ask yourself if you are content or complacent.
It’s not fair that others have wealth, right? Mostly, the thinking is that it’s not fair because I will never get there. Envy. I cannot have it so no one should be able to have it. That’s envy. When you are consumed by envy, you see what others have and think you can never have it. You need to turn things around and start with, “I can have wealth because others do.” Have the right attitude on building wealth. Know that you can build wealth, and then two things happen. First, you think you can do it, so now it’s at least possible for you because you will try to build wealth. Second, you no longer care what others have because it’s irrelevant to what you can have.
Money Will Not Make You Happy
Don’t wait until you are wealthy to be happy. Having a large amount of money will not make you happy. Having a large amount of money will not make you manage your finances well. If you are no good with money right now, you will be terrible with money when you have a lot of it. If you cannot control your spending and hold on to your money right now, if you ever have a lot of money don’t think you will hold on to it then. If your marriage is bad, and you have money fights all the time, then don’t think that having money will stop those money fights.
On the flip side, if you are a generous giver with little money, then you can be a generous giver with lots of money. If you are good with finances when you have a little money, then you will be good with finances when you have a lot of money. You will be able to take that money and turn it into even more. You can have a good marriage with lots of money or no money. Money isn’t what makes it good, and money isn’t what’s going to fix it.
Have a Plan
What are your dreams? Determine where you want to be in 20 years and have goals to get there. Break it up into smaller goals. Determine what you need to do in 5 years, 10 years, and 15 years in order to reach your goal at 20 years. Write the SMART Goals and detailed steps for them.
If your current job is going to get you to where you want to be in 20 years, then great! Start formulating a backup plan. What happens to your plan if you lose your job?
Don’t think that having money will fix your life. Find the job you want to be doing. Be a good spouse and parent. Fix your life now, and then build wealth, because having money can make you more of what you are.