Banishing
the Money Dragon
Every so often
I am asked some variation of the question, "Do you ever worry about
money?" The truthful answer to that is, "Not anymore,"
but getting free of the Money Dragon had little to do with earning more
money and everything to do with challenging my belief system about money.
Allowing the Money Dragon to rule your world is a surefire invitation
to sleepless nights and perpetual poverty. Banishing that monster starts
by answering some important questions.
Do
you live in a world of scarcity or surplus? Las Vegas legend
Wayne Newton lives on a 52-acre ranch where he raises prize-winning Arabian
horses. He's also signed a multimillion-dollar deal to continue performing.
Things weren't always so rosy. In 1991, he faced bankruptcy. Throughout
the ordeal, he continued to remind himself that he had created his wealth
and could create it again if he lost it. Four years later he was back
on firm financial ground.
Many people
create scarcity by focusing on everything they don't have. Author Sondra
Ray points out that if you have any money anywhere — even a few
coins — you actually have a surplus. How many people give themselves
credit for that?
 Thinking
abundantly comes from a healthy self-image, knowing you have options,
and an understanding of the role that attitude plays in creating wealth.
Most of us arrive at that state through conscious work, eliminating thoughts
and words of poverty. Books such as Rich Dad, Poor Dad and Creating
Money can help us get rid of our own blocks and limiting thoughts.
What
has goal setting got to do with it? Although more people are
coming to understand the importance of the goal-setting process, many
fail to make the connection between setting goals and generating cash
flow. "I'd like to travel," they sigh, without giving any thought
to making it happen.
A great way
to build your goal-setting muscle is to invent a small project —
one that really excites you — and create the funding for it in a
totally new way. Then work up to a slightly larger project. Not only will
you realize more of your dreams, you'll build a larger Option Bank for
yourself as well.
Is
it a debt or is it an investment? The media love to remind us
that credit card spending is out of control. Accumulated debts can lead
to shame and take a toll on self-esteem, of course.
An entrepreneur
needs to understand the difference between debt and investment. As Jerry
Gilles points out in his classic book Moneylove, debt can be
a sign of trust and belief in your dreams. The trick here is to know when
spending is actually an investment in your future and when it's just frivolous.
Which leads us to the next question.
Is
it ego or is it essential? People who leave corporate life often
take with them a spendthrift attitude. Doing things to create a successful
image may seem like a good idea, but you need to consider whether it's
the seductive siren song of your ego urging you to buy that luxury car
or spend thousands for a fabulous brochure or whether it's essential to
running your business. Yes, it's wonderful to have great toys and a successful
image. It's even better if you've earned them.
If it's essential,
it's an investment; if it's ego, it's just debt.
Is
it anybody's business? Several months ago, I was introduced to
a man who is working frenetically to launch a business that's based on
a terrific product he's designed. At our first meeting — and in
every conversation since — he's told me, "I'm absolutely broke."
In fact, he seems to be wearing his impoverished state as a badge of honor.
Your finances
are really not appropriate public knowledge. Besides your spouse and your
accountant, nobody needs to know the contents of your bank account. This
is also true, incidentally, when you've hit the jackpot.
What
have you given lately? Financial guru Suze Orman tells the story
about reaching the lowest point in her life after having her business
wiped out by an unscrupulous partner. Orman spent weeks at home licking
her wounds, not knowing how she'd recover. One day she turned on public
television during their fund drive. Despite having limited funds herself,
she decided to make a contribution. She credits that simple act of giving
with turning her life around. Today, Orman's seminars are often featured
during fund drive week on public television.
Money is energy
and needs to flow out as well as in. Make your own acts of generosity
count by giving money to causes that you truly care about. Selfless giving
benefits the giver by adding to feelings of abundance. Money Dragons can't
exist in that environment.
There's
more where this came from.
Order Winning Ways now!
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