What is your Money Mindset? How do you approach money and making money?
I recently talked about the importance of having the right money mindset for success, and explained how there were three fundamental beliefs about money that every successful person I knew had.
If you haven’t read about the first belief, check it out here, and then come right back! 🙂
So now we’re diving into the second fundamental belief that we need to have when it comes to money.
No matter what our background or circumstances are, this belief about money is imperative to adopt in order to find true success.
Let’s dive in and dissect our money mindset even further!
Belief #2: Time is Greater than Money
Time. The seconds on a clock. In some ways it drags on, and in others, it flies by too fast.
Time is concrete, and time is limited.
There is a definite number of seconds in a minute, minutes in an hour, hours in a day, and days in a year.
Time is universally understood to hold intrinsic value.
See, belief #2 can only be if we believe that money is in abundance.
When it comes to business and life, we look for our greatest asset. If time is limited and money is in abundance, time becomes the ultimate asset.
Time is Our Ultimate Asset
The successful, wealthy people in our world understand this principle to its core.
See, even if they were to lose every single penny from their bank account, they realize that with money, you can simply start over.
Because of their belief that money is in abundance, they understand that they can figure out a way to generate more income.
But with time, once it’s gone, it is gone. You can not replicate or replace time.
Unless Apple is coming up with a new time machine or cracking the code for time travel, time cannot be replenished.
Without sounding a tad depressing, the reality is that with every moment that passes, we have less time to work with.
Time is precious.
And those who are successful have been able to take control of their time. They guard it and spend it how they see fit.
How you spend your time and who you spend it with will ultimately determine how fulfilled your life is, in my opinion.
When we truly understand that time is more valuable than money, our entire motivation for success and how we measure it shifts.
Money is a Tool
How does this belief affect our actions?
When we believe that time is more valuable than money, we can view money as a tool to enjoy our time better.
Money becomes valuable because we view it as the means to buy more time for what we want.
Rather than chasing dollar signs, we should pursue more time in our day. What does this mean?
Do I mean that we are looking simply for passive income? Sure, to some extent.
But it also means that in every decision we make, both professionally and personally, we should consider the time investment rather than the financial investment.
Ask yourself three important questions:
- Will this require more of my time than what I am willing to spend?
- How will this decision improve the quality of my time or give me more time to spend how I see fit?
- Will this investment leave me feeling fulfilled both in my purpose and goals?
Money decisions will quickly turn into time decisions, and when we shift our mindset to see that time is more valuable than money, we become wiser in our decisions.
This mindset shift may cause some discomfort at first, as we often see risk in dollars and cents.
But when we realize the true risk is in losing our valuable time, the discomfort will fade.
Conclusion
Have you always valued your money over your time? What part of this money belief challenged your current mindset?
Let me know in the comments below! I want to hear your thoughts.
Whether you have already adopted this belief as your own or not, I challenge you to come up with and write down the questions you would ask yourself when considering a business decision.
Will they be based on the money investment or the time investment? I’m curious to know what questions you would come up with, so feel free to share in the comments as well!
Next week, we’ll dive into the final belief that is foundational to a successful money mindset, and I’m excited to share it with you!
Here’s to leaving every relationship better than you found it. Cheers!
