Some Ways to amp up your wealth and success.
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How to Make More Money, According to these Techniques?
Consider losing all of your savings. Consider losing your entire savings as a result of Bernie Madoff, the (late) crook who took over $50 billion in his clients' investments in a Ponzi scheme.
That's exactly what happened in 2009 to bestselling author and speaker Geneen Roth and her husband. Her friends advised her to focus on the positive, but she couldn't, at least not at the time. "This is not the time to be spiritual... This is the time to laugh," she said on my podcast.
Soon after, Roth realised that in order to pick up the pieces and rebuild her financial life, she needed to shift her focus away from self-loathing and toward what hadn't been lost: her health, home, marriage, and talents. Being grateful for the remaining riches in her life, the valuables that Madoff had not stolen from her, taught her some important lessons and gave her the courage to act. She went back to writing, a skill that had helped her carve out a successful literary career. She wrote new articles, including one about her Madoff debacle, and turned them into a book. She Said "The money started to come back".
Roth's transformation from shame to gratitude also resulted in a greater appreciation for money. "It taught me to be much more diligent, much more mindful about where I spent and invested my money... to have that be in alignment with my values, about what I really cared about," she explained.
I know many of us are sick of hearing about the power of gratitude around Thanksgiving, especially when the majority of Americans are struggling on a daily basis due to high living costs, inflation, and job insecurity. However, practising gratitude has been scientifically proven to help people move forward and attract more wealth. A well-cited 2016 Northeastern University study discovered that embracing the good in our lives today increases our value and desire to protect the future.
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When I spoke with David DeSteno, the study's co-author, he explained that gratitude promotes patience. It causes you to slow down and reflect, giving you a greater appreciation for long-term gains over instant gratification. As a result, we may make fewer rash financial decisions and instead concentrate on long-term financial goals such as retirement or college savings. According to DeSteno, developing financial patience requires consistency, so write down what you're grateful for a few times a week.
One of my favourite quotes about defining what it means to be "rich" comes from a So Money podcast episode with bestselling author Seth Godin. "If you have resources, if you have the freedom to choose, if you have the ability to not just spend money, but spend time and create things that touch other people, you are rich," he said.
Roth's experience, DeSteno's research, and Godin's words all serve as important reminders to me to be more mindful and thankful for what I have. Here are a few ways to express gratitude to yourself and others in order to improve your financial situation.
Make a note of it.
Godin believes that journaling your financial goals as well as your gratitude is "probably the single biggest change the average person can make in their life for the cost of a paper and a pencil." Why? Because, he claims, learning how to articulate goals, whether financial or otherwise, will help you undo stories you've accepted for a long time. For example, you may discover that you're carrying around an impossible goal, such as buying a nice new car, which makes you feel bad about having to take out a loan that you can't afford. Keeping a log allows you to be more intentional about what you want and helps you design goals that are actually achievable and make you happy.
Take advantage of resources and opportunities.
We can quickly identify the major things for which we are thankful, such as our job, home, and food on the table. It's also important to recognise the small, often overlooked benefits in your life that can help you achieve financial success. This could be something as simple as learning a second language or having a spare bedroom in your home. These assets are valuable and can assist you – or someone else – in bettering your life. Recognizing that you have a flexible schedule may inspire you to assist a parent in need of afternoon childcare. Being aware of these resources can motivate us to be more generous with our network and neighbours, who may one day return the favour.
Congratulations on your accomplishments.
This is something I frequently hear from people who have worked hard to get out of debt. They express gratitude for how far they've come to increase their chances of crossing the finish line. They'll reward themselves – or someone else – for a small win, such as paying off one of their credit cards or negotiating with a creditor to lower their interest rate. They might crack open a bottle of wine, make a charitable donation, or watch a movie with a friend. By valuing your small victories along the way, you recognise your willpower, stay motivated, and are more likely to stick with it. Even if you don't believe you've made any significant financial gains, looking back to assess your progress can help put things into perspective.
Turn off any media that makes you feel bad.
Practicing gratitude can be difficult in a world where we are constantly bombarded with images of how others live or present themselves on social media. Watching others show off their "perfect" house, body, car, and kids on Instagram and TikTok can be dangerous if we start comparing our worth to what they're selling. Stop being in the audience if social media accounts or reality TV shows give you FOMO, have you questioning your financial decisions, or even overspending to "keep up" with the Joneses.
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