You rarely see psychology discussed alongside business and investment, but I believe that psychology is foundational to entrepreneurial success.
Your mindset matters when it comes to achievement.
In today’s episode, I chat with Pete Wargent and discuss his 6 rules for wealth creation.
Some of them may surprise you.
6 Rules for Wealth Creation:
- Increase Your Self-Esteem – People with low self-esteem may unconsciously sabotage their own success, because they don’t believe they deserve it. Work on retraining your brain to think positively.
- Think Long-Term – True wealth is built slowly over time. Follow this principle and exploit the power of compound growth.
- Study and Counsel with Wise People – If you want to be successful, learn from successful people. Mentors can help you realise your full potential.
- Pay Yourself First – Make yourself your first priority. Save and then invest a decent sum first, then pay your other bills.
- Control Your Expenditures – You need to know where your money is going. Study your expenditures and see how you can close gaps where you’re spending money unnecessarily.
- Take Action – You can’t be successful if you never make a move. Take massive and consistent action and refuse to give up.
Links and Resources:
Some of our favourite quotes from the show:
“You can change the way you think about yourself, you can change your habits, you can upgrade your financial thermostat, and that’s through personal development.” – Michael Yardney
“Most of what you do all day is unconscious, is at the subconscious level. You don’t even realize it.” – Michael Yardney
“I think the message is spend less than you earn, and then save that difference, and overtime invest that money.” – Michael Yardney
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