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Making Money Is All In The Mind
By Pam Kennett
When we first began networking with high income/high net-worth clients, we were surprised that for many of them, came often up as an issue. Men and women with millions of pounds were dealing with the same kinds of fears and concerns around as the people we knew with no and no income to speak of.
We would often hear phrases like:
-"I don't want to do this work, but I need the money."
-"With the economy the way it is, I don't think I'll ever be able to retire."
-"I have to worry - otherwise I might lose it all!"
-"I'm not sure what's happening to the housing market, better keep working"
For these people, having a high-income or a huge bank balance had little or no impact on feeling secure about money. To understand what lead to financial security, imagine this scenario:
The night is chilly. Your partner asks you to put another log on the fire but when you look the woodpile is empty. What do you do next?
If you're like most people, you drag yourself outside to chop some more wood or drive to the nearest petrol station to buy some more. In fact, you get extra so the next time you want to build a fire you don't have to go back out unless you want to.
Now, imagine this scenario:
You live wherever it is that you live. Your partner asks you if there's enough to go on vacation this year, but when you look in the bank account it's almost empty. What do you do next?
Well, if you're like most people, you panic. You either make up excuses as to why you can't go on vacation or lay down the law about why vacations are overrated and a waste of money. Secretly, you feel like a failure and resent your partner for bringing it up at all in the first place (even though you desperately need a holiday as well). Perhaps you vow to yourself to work harder, or find a better paying job or less demanding partner.
What's the difference between the two scenarios?
In the first, you recognize that wood is just a commodity - something you need from time to time for a specific purpose and is easy enough to get more of with a little bit
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