My financial thermometer
I have just been to Starbucks and behind me were three guys talking about investing money. One guy was saying that if he didn’t get $200k out of this one deal it wouldn’t change his life that much. If he did get $200k then he would probably just spend it on a sports Bentley. It must be great to have that sort of cash to invest. But at the end of the day, these guys are just human, like me. The one major difference (apart from having loads more money) is that their financial thermometers are set a lot higher than mine. Oh sure, I may talk about borrowing £20,000 the way some people talk about borrowing $2,000. But these guys talk about borrowing $2 million. Their financial thermometer is set about 100 times higher than mine. I must learn to set mine a lot higher.
Let’s say I want to earn $20,000. If this is a lot of money to me, then I may associate lots of hard work to getting this money and it may take me a long time to do so. If my thermometer is set to earning $500,000 then no doubt earning $20,000 will seem easy and I will be able to think of a strategy to earn this amount easily and quickly. My thoughts will lead me to have better conversations with myself and with other people who also have a high financial thermometer which will ultimately mean I will have lots of money. Off the bat, I am not going to set my thermometer at something like $5 million a month without working myself up to that point with a bit of practice. So, I have set the thermometer to $60,000 a month. I will live and breathe and believe in my head that I can’t possibly get by in life unless I am earning $60,000 a month. Anything less than this will mean I am just scraping by and not living the kind of lifestyle I need to.
So, what would someone earning $60,000 a month need to learn? Tax avoidance and investing. Not only must I be good at internet marketing, but I need to learn how to invest my money with the least tax liability possible. Live and breathe $60,000 a month. I am usually motivated by stress and crisis. If I fail at something (and am noticed to have failed by others) or I have my back against the wall, then I come out fighting and always seem to find a way to succeed. I am also motivated when I can see my path to more money (actually seeing money coming in and working out how to increase it, rather than just blue sky thinking). But when I am comfortable I seem to just stagnate. So, if I am uncomfortable at anything less than $60,000 a month then I should be motivated to come out fighting. When I get to $60,000 a month I will be motivated to set my thermometer higher so I never languish in the land of the comfortable. So I have to show myself the money and come out fighting; and do it quickly!
