Now how do we go about with the topic of being rich, wealthy and perhaps famous?
It is such a topic that heats up the desires, passion and dreams when it is spoken about..
Well, how do we plan for what is now and the future then?
The present pleasures or the future wealth?
This is a great article to read from!
---
One of the best known studies in the history is psychology is Walter Mischel's "Marshmallow Test"
In the 1960s, the Stanford professor, took nursery-school students, put them in a room one-by-one, and gave them a treat (they could choose a cookie, a pretzel stick, or a marshmallow) and the following deal: They could eat the treat right away, or wait 15 minutes until the experimenter returned. If they waited, they would get an extra treat. Tracking the kids over time, Mischel found that the ability to hold out in this seemingly trivial exercise had real and profound consequences. As they matured and became adults, the kids who had shown the ability to wait got better grades, were healthier, enjoyed greater professional success, and proved better at staying in relationships—even decades after they took the test. They were, in short, better at life.
Everyone longs for a lifestyle that is "better". Whether the goal is personal fulfilment, health or wealth, it is this pursuit that drives us. This is never clearer than in building wealth. Unfortunately, we tend to get misled by the myth of that "successful lifestyle" filled with sailboats, European vacations, golf resorts, beachfront condos, cars, branded bags and private jets.
But the reality of building wealth is delayed gratification. Wealth builders live modestly by spending less than they can afford (time, money, energy) so they have more to invest and create greater value in the future. They understand happiness does not result from the "stuff" they have because that would only keep them happy for the short-term rather than fulfilling the deeper cause that drives them to success.
There's nothing wrong with having these things but we have to realise that all of us – no matter how rich we are – have the same limited resources (time, money, energy) that we can use either to enjoy our lifestyle or build wealth. They are competing demands for the same scarce resources – and only one can win the battle.
Every day you make a choice between spending today or wealth for tomorrow.
If you're finding yourself in a losing battle to tame your desires, the good news is delayed gratification can be learned at any age. Here's 3 ways to help you do that:
What's Your Why
It all begins with your reason for wanting wealth. If you "WHY" is only to have a good life, then then spending your money will always be your priority and you will procrastinate on building wealth. If you're living for a cause that is greater than yourself and your desires, then your focus will be on doing whatever it takes to grow your wealth so you have the wherewithal to fulfil if.
Celebrate Small Wins
Build into your wealth plan a series of rewards for accomplishment. When you complete something that needs to be done, like a budget, reward yourself. By creating rewards you are ensuring that you are disciplining yourself to delay gratification until after the task is complete and not before. If you can do this in many areas of your life you will eventually be able to delay gratification.
Find Support
If building wealth was easy then more people would achieve it. Yet, few succeed in their pursuit of financial freedom even though it's not difficult to come up with a reasonable plan to become wealthy. The difference is consistent, persistent, focused action. Life has endless distractions that will sidetrack your plans for wealth. The solution is to create a support system that keeps you focused and on track.
Your family environment, work environment, relationships, financial habits, daily rituals and people you seek advice have to support, reinforce and keep you accountable to your wealth building plans.
source
It is such a topic that heats up the desires, passion and dreams when it is spoken about..
Well, how do we plan for what is now and the future then?
The present pleasures or the future wealth?
This is a great article to read from!
---
One of the best known studies in the history is psychology is Walter Mischel's "Marshmallow Test"
In the 1960s, the Stanford professor, took nursery-school students, put them in a room one-by-one, and gave them a treat (they could choose a cookie, a pretzel stick, or a marshmallow) and the following deal: They could eat the treat right away, or wait 15 minutes until the experimenter returned. If they waited, they would get an extra treat. Tracking the kids over time, Mischel found that the ability to hold out in this seemingly trivial exercise had real and profound consequences. As they matured and became adults, the kids who had shown the ability to wait got better grades, were healthier, enjoyed greater professional success, and proved better at staying in relationships—even decades after they took the test. They were, in short, better at life.
Everyone longs for a lifestyle that is "better". Whether the goal is personal fulfilment, health or wealth, it is this pursuit that drives us. This is never clearer than in building wealth. Unfortunately, we tend to get misled by the myth of that "successful lifestyle" filled with sailboats, European vacations, golf resorts, beachfront condos, cars, branded bags and private jets.
But the reality of building wealth is delayed gratification. Wealth builders live modestly by spending less than they can afford (time, money, energy) so they have more to invest and create greater value in the future. They understand happiness does not result from the "stuff" they have because that would only keep them happy for the short-term rather than fulfilling the deeper cause that drives them to success.
There's nothing wrong with having these things but we have to realise that all of us – no matter how rich we are – have the same limited resources (time, money, energy) that we can use either to enjoy our lifestyle or build wealth. They are competing demands for the same scarce resources – and only one can win the battle.
Every day you make a choice between spending today or wealth for tomorrow.
If you're finding yourself in a losing battle to tame your desires, the good news is delayed gratification can be learned at any age. Here's 3 ways to help you do that:
What's Your Why
It all begins with your reason for wanting wealth. If you "WHY" is only to have a good life, then then spending your money will always be your priority and you will procrastinate on building wealth. If you're living for a cause that is greater than yourself and your desires, then your focus will be on doing whatever it takes to grow your wealth so you have the wherewithal to fulfil if.
Celebrate Small Wins
Build into your wealth plan a series of rewards for accomplishment. When you complete something that needs to be done, like a budget, reward yourself. By creating rewards you are ensuring that you are disciplining yourself to delay gratification until after the task is complete and not before. If you can do this in many areas of your life you will eventually be able to delay gratification.
Find Support
If building wealth was easy then more people would achieve it. Yet, few succeed in their pursuit of financial freedom even though it's not difficult to come up with a reasonable plan to become wealthy. The difference is consistent, persistent, focused action. Life has endless distractions that will sidetrack your plans for wealth. The solution is to create a support system that keeps you focused and on track.
Your family environment, work environment, relationships, financial habits, daily rituals and people you seek advice have to support, reinforce and keep you accountable to your wealth building plans.
source
No comments:
Post a Comment