Money is an abstract concept that can sometimes be difficult to understand. We all use it but it means different things to different people. The mental game of money is all about understanding how humans behave when it comes to their finances, their perspective towards it. Just like in the game of life, the mental game of money gets better with practice.
Not everyone has the same mental view about money.
To some, it’s a scarce resource while to others it is abundant. Both of them will approach the money situation differently. They will also play it differently based on their understanding. It’s actually hard to tell which one of them is right, is money really abundant or scarce?
Seen from a certain perspective, both of them are right. Think of it like the classical statement that’s associated with Henry Ford; if you think you can, then you can. If you think you can’t, then you can’t.
Quality Of Our Finances Matter
In order to achieve financial balance, it is important to have a personal finance plan, and then execute on it. But plans often get thrown out the window when circumstances change especially in this fast paced world we live in where circumstances seem to be changing in every minute.Achieving financial balance is not just about achieving a certain income or net worth. It's about feeling confident that you are doing all the right things with your money and that you will be able to meet your goals for the future.
In a world where quantity is easily achieved, quality always tends to be sacrificed in the long term. Patrick Bet David said that the current economical crisis will reveal who got lucky in the past (not so) few years and who actually built something of value with a strong foundation. Now, is like a filtering process to see what was really happening in the background while we were busy celebrating the ‘easy wins’ during the past years.
Quality of finances isn’t given much consideration but it always become self evident down the line. Often times, it becomes too late to remedy the situation and everything falls to the ground like a sand castle blown by the wind. Never sacrifice quality for quantity, you will be ‘doing the work’ in vain.
Approaching Money From An Abundance Perspctive
I thought I’ll give my perspective on the mental game of money. To me, mentality is everything. It’s able to change how we view reality. However, approaching money from a purely mental perspective is hard because were entangled with emotions and they somehow seem to be more ‘powerful’ than the former.Money is also a numbers game. And numbers are almost infinite. One cannot say that it stops at 1000 or 1 million. Likewise, it doesn’t make sense to say money stops at this or that, especially from a general perspective. So why do some people think money is scarce?
This is just a guess but I think it is the value or final product that gets exchanged for money is what looks scarce. For example, through working a job one gets paid, if there are not enough jobs people will think there is not enough money. Just because the value that gets exchanged for money is scarce doesn’t mean money is scarce. Working at a job is the traditional route to get money but it is not the only route. There are many other routes.
To have an abundance mindset, we should start thinking about money in a different way. With the help of the digital age, many people are starting to redefine their concepts about money. The evolution of money looks abundant-ish.
What is your mental view about money? Is it scarce or abundant?
Thanks For Reading!
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