Psychology is the scientific study of the mind and behavior. & if you want to master something or to achieve something, then you have to understand the psychology of that field.
& In the field of business and entrepreneurship, you have to understand the psychology of money, Because at the end of the day you want to be Rich.
But Being Rich is not about getting legacy wealth or being an insect of nepotism, It’s all about satisfaction of your hard-earned wealth, respect and fame. Research shows most of today’s millionaires weren’t born into their wealth, This proved by a recent survey of study by Fidelity Investments
Found that 88% of millionaires are self-made millionaires. Overall, the research revealed that current millionaires are, on average, 61 years old with $3.05 million in assets.
A team of six German economists and psychologists has conducted a large-scale study. They interviewed 130 wealthy individuals and used the results to derive a psychological profile, which they compared with the population as a whole. Big Five Test
So What was that they had and made them millionaire?
That was their mindset or in terms of science their psychology, which made their perception uniquer than others.
Now what are these psychologies are?
1. Becoming Rich is Not Natural, It is your Right.
Many people think becoming rich is on your destiny and you can’t do anything about it. But people who are millionaire or billionaires they don’t think this way, according to Bill Gates
If you are born poor, it’s not your mistake, but if you die poor, it’s your mistake.– Bill Gates
And if you want to be rich then you have to believe in yourself rather than some old Text written thousands of years ago.
If you believe that, you are not earning anything because that is not in your destiny then you had already cut off your self-esteem.
In his book “Rich Dad Poor Dad” Robert T Kiyosaki told about how his Poor dad used to make excuses How he was not able to make money because of his responsibilities, On the other hand his Rich Dad always say, He has to earn more because he has responsibilities.
Now you decide who you want to be.
2. Sabotage-Heal Formula-
This technique mostly uses by successful entrepreneurs in their early days. Mostly people always be in denial and decline the negativity with some addiction, and coming out from that zone is like sabotaging your mind. I
But people who wanted to be successful and rich they don’t do that, instead they come out of their comfort zone, and take responsibilities of their problems, they accept the truth instead being in denial.
Because if you want to go ahead then you have to accept the truth and move on.
And after sabotaging they search for solutions not for addiction.
Our biggest problem is, We prioritize denial over solutions@realcriticeye
Then after solving that problem, they heal themselves. With extra strength of self-esteem.
3. Your currency is TIME-
Well tell me what is your currency exactly?
Dollar, Euro or Riyal.
But if you want to be rich within 5 years, then you have to change your currency.
Rich people’s currency is TIME, when they purchase something they tell themselves it’s value in time-
You earn $20/hour, and you want to buy a T-shirt worth $80 from a shop, then
T-shirt’s value according to rich psychology is – 5 hours.
Here we literally can say-
Time is Money-Benjamin Franklin
4. There’s No shortage of Money-
Do you have grief to not making money and you are keep telling yourself that you don’t have enough money to do that or purchse that.
Then you are just wishing and telling your subconscious to make that wish true. In his book “The power of subconscious mind” Joseph Murphy talked about how we keep unconsciously telling our subconscious to do and accept things, which Subconscious make come true someday.
So use this technique of Rich people, Even when they didn’t have money at starting, but they never said to themselves that they are short in money, or they can’t make millions because they are from a small town.
Instead, they always praise themselves and said themselves that they are rich.
5. Visualize your RICH LIFE –
This technique suggested by Napoleon Hill in his Book ‘Think and grow rich’.
He suggested imagining yourself daily that you have already achieved your goal of being rich and living it right now.
This technique always used by now called millionaire entrepreneurs.
One of the example is Jim Carrey, In 1985, Carrey made an audacious decision: He wrote himself a $10-million check for “acting services rendered,” dated it 10 years in the future, and kept it in his wallet. Call it a coincidence, but in November 1995, Carrey found out he was cast in the movie “Dumb and Dumber” for — you guessed it — $10 million.
6. Make Big Goals: Reward-Penalty Rule-
Do you know why most of the people in the world are not millionaire or rich?
Because they don’t want to be. Yes! You heard that right. Not everyone thinks that they have to earn millions in life.
Mostly people think of some fancy degree and after a job then fantasize about things that society told them to.
But Rich people don’t think this way, Instead They make big goals, plan for that, fantasize about success, and most importantly stay motivated.
And to stay motivated they make Reward-Penalty rule,
You had noticed, If you are doing something then there is motivation behind that, No matter if it is motivation to get a job for money or working on money for your dreams.
But as the computer understands only binary, the same our mind understands only language of reward or penalty.@realcriticeye
You have to set
- Big Goals
- Small Goals
- Chunks in small goals
After that set time to complete chunks and if you do it properly in time then reward yourself with something you love but worthy of that time.
And if not then penalize yourself by something your mind don’t like.
7. Study to Provide value Not for a fancy Degree-
Ok, The biggest mistake ever we do in our life is by thinking that a degree means money. Wrong my friend. If you are thinking that, this means you still have wrong perception about money.
Degree or diploma means you are good at some skill, But the world doesn’t want to know what skill or medals you have, Everyone needs value to their life. and as much value you provide, that much money you will make.
So There are two perception you must know-
- Money you make is equal to the value you provide.
- Degree doesn’t mean Money