Seven Kickass Beliefs About Money to Upgrade Your Financial Psychology

A job makes you an actor so you can get money.

My boss was a moron.

Worse than Jim Carrey’s character in Dumb and Dumber. A dude wearing an “I’m with stupid” t-shirt has more brains.

Emotionless. Lifeless. Never there for his family. He’d put on a show (presentation) in front of customers. All it took was a tiny bit of emotional intelligence to see they became bored out of their brains.

I had to come in and do CPR, frequently.

“Someone get an effing medic over here. The customer is dying. Breathe Mr Johnny. Don’t die on us now. We’ve come too far, I tell ya.”

Why was he a moron? Bad financial psychology. He worked to buy stuff to impress his parents. He earned money through fakery.

Once you make enough money to live you stop acting. You stop faking it.

Escape a life of fakery. Figure out the game of money that causes many of us to become actors our entire lives and read off Powerpoint scripts. It all starts with your beliefs about money.

Try these money beliefs to rewrite your financial future.

Believe in stealth wealth

When people become financially rich they often turn into a-holes.

It’s why you see so many articles trashing Elon Musk or Jeff Bezos. Their contributions to society are incredible. Sometimes their ego makes them look ugly though, so we destroy their reputation to even the score. Financial expert Syed introduced me to a new belief.

Stealth Wealth: When you’re richer than the rest of the block but everyone still likes you as a person.

When you’re quiet about how much money you’ve made, it lowers your ego.

I’m guilty of this.

I’ve written one-too-many articles about how much money I’ve made. The sole purpose was to educate — but sometimes it comes off as a bragfest.

New belief: make money quietly. Become a silent time-millionaire.

Bad belief: make more money

Making more money can be the dumbest goal to have. Money is relative. It’s a game. It’s a scoreboard measured by your bank balance.

You don’t want more money — you want more time.

Financial expert Brian Feroldi takes this idea further.

Great Financial Goal: Living on your own terms.

That’s what your mind forgets when you work hard. All you want is, not to end up like a doctor that’s stuck in back-to-back appointments for the rest of their life after forking out $100K for a medical degree (hat tilt: Sean Kernan).

Back-to-back meetings doesn’t equal freedom. It’s modern-day slavery.

New belief: make money to buy back your time.

The most underrated investment in history

It’s tempting when you make money to buy a new luxury item or take it easy. Writer Aaron Will smacked me in the face with this one.

Re-investment is the best investment.

I’ve been doing it subconsciously for years. When my online academy has a good month I re-invest into the business to make future students have an even better experience. As the experience improves so does the number of referrals to my academy.

The best way to re-invest is back into your skills. It’s why I’m an online course junkie. I want to keep up with every little change. I want to be at the cutting edge, not shilling SEO advice from ten years ago.

New belief: Re-invest money into your winners after a financial victory.

The mind-boggling F-up with passive income

The gates of heaven that lead to financial freedom are built on passive income.

The problem is passive income is misunderstood.

Topless instagram models sold us the #DreamLife with their pictures taken in paradise. They told us to make passive income then quit working forever, so we can stroll along walkways full of rose petals to a blue lagoon with an aeroplane waiting to whisk us off to an exotic island.

Kurtis Hanni is on a mission to help people create generational wealth. His powerful statement helps transform the idea of passive income.

Don’t build passive income to avoid work.

Build passive income so you can do the work you love.

The truth with passive income is that it starts with active income. You do the work and then that effort helps reduce future workloads. Eventually passive income can take over if you want it to. Most of us don’t though.

Once passive income exceeds the level you need to live, then the real fun begins: charitable work. A life of service rather than working for dollars.

New belief: passive income leads you to do more work you love.

Money robs you of the one thing you secretly want

When I go for a promotion or to switch jobs my heart races when the salary number comes out of the recruiter’s mouth.

For a few seconds I’m whisked away to another world where Tim lives in multiple houses and can afford floor to ceiling, double-glazed windows.

Then reality kicks in.

A new job or promotion means less autonomy. Life rarely gets easier when you get paid more money. The opposite happens. The employer wants even more time from you. In my last job search the thinking began to change.

Find a job where they leave you the f*ck alone.

So I did. The time I bought back fuelled my after-hours work. Then I quit.

New belief: consider time when calculating how much money work pays you.

Spend money like a drunk at the casino

Hold up, what? Let me explain courtesy of a thought from Dan Koe.

Spend money like a drunk at the casino on your high-quality purchases:

• Quality food to boost your energy level that ignites your passive income.
• Quality experiences you’ll remember for the rest of your life.
• Quality outsourcing of basic tasks you dislike.
• Quality of life.

There’s no point in being cheap on life-enhancers. Be cheap on luxury garbage instead. Forget about status games to look good.

New belief: things that lead to quality of life should be a financial priority.

When markets tumble your financial thinking gets revealed to the world

Crypto markets have plummeted lately.

Many have got scared out of their investments. The opposite happens to me.

My conviction on Web 3.0 is so high that market drops make me even more bullish. What causes the fright is interest rates. Interest rates are at 0%. Where do they go from here? Dah. Up. When that happens financial asset prices go down. A recession can happen too.

Market drops are the time to program your psychology to obtain discounts. Not sell the lot and throw years of your research into the dumpster because a Twitter troll is trying to gaslight you with “have fun staying broke.”

True conviction is only revealed when prices are falling — Brain Feroldi

New belief: market drops create amazing discounts on quality investments.

It all boils down to this

The number one belief you want to have is to value time more than money. Money expert Shane Parrish says:

“Rich people have money. Wealthy people have time.”

Use your financial psychology to get you closer to having more time, and further away from having your calendar controlled by morons.

This article is for informational purposes only, it should not be considered financial, tax or legal advice. Consult a financial professional before making any major financial decisions.

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