Two common factors that you can adopt to improve your financial position
Vanessa Stoykov shares tips gained from her extensive experience in the money industry and interactions with the millionaires and billionaires involved.
I have worked in and around the money industry for more than 27 years. I have known billionaires, millionaires, and those who aspire to be. I’ve also made and lost millions running my own business for over 20 years.
During that time, I have made countless observations about people who have money. How they act, how they speak, even how they dress. And while there are many things that are different about all these people, there are two common denominators that come up time and time again.
Firstly, they believe in themselves. Implicitly. While not always arrogantly (although some are!), very confidently and totally. This belief is due to the fact that they have made it. That sort of belief is unshakeable simply because it is true. Of course, we have all heard before that you have to believe in yourself to be successful, or that to attract money you need to believe you can—and will.
The second trait they all shared was a passion or purpose that money fulfilled, but money wasn’t the reason. Particularly billionaires, I have found, actually don’t think about money much at all. They are more likely to drive older cars, and even buy bargains—most I meet don’t waste money, and in fact, are far more likely to be frugal. Why? Because their money fulfils a bigger cause for them—their passion. Whether that passion is philanthropy (and increasingly was for those with billions) or investing (which in nature creates wealth), these billionaires pursued their passion relentlessly.
So how can we learn from these two traits—belief and passion to increase your money situation? Increasingly, it is obvious that if you just do a job for money, you are doing the wrong job. Our work takes far too much of our life force to spend it doing something we don’t care about.
You are far more likely to increase your financial position, and your belief around your worthiness for it, by doing something you are passionate about. Wealth means different things to all of us, and while some may dream of yachts and bling, many people want a life where money doesn’t dictate how they spend their time, but rather gives them and their family security.
So by starting at the beginning, of what you really care about, and where you want to spend your time, you can work out the financials behind it. Can you transition from your current job? Contract at night? Hustle to save enough to focus on your passion? These are the questions you need to ask yourself if you want to improve your money situation for the long term.
Not a typical article about finances, but maybe the one that gets you thinking that change is possible and that you are worth it.
For specific advice customised to your individual circumstances, contact Carrick Aland’s Wealth planning team on 1300 466 998 or visit carrickaland.com.au/wealth-planning/.
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