The first step in the My WOW Wealth Creation Formula says to Pay Yourself First.
This is a very, very important key to building Wealth in Your Life. If you understand the concept and fully absorb it, it will virtually change the Way you Feel and Act towards money and your current financial situation.
It doesn’t matter what your current situation is . . . it doesn’t matter how much money you are making or how much debt you have . . . it doesn’t matter.
You need to Pay Yourself First.
By Paying Yourself first, you are actually creating a new “mindset”. Going from a mindset of . . . “I am broke” . . . “I don’t have any money” to “I do have money” . . . “I am not broke” . . . “I can save” . . . “I can build wealth” . . . “I have the power to change my life” . . . and
Yes, I can be Wealthy!
This one little Action will literally take you from that old, broken mindset . . . to a new Freeing . . . Empowering Mindset . . .
Don’t live in that broke mentality anymore! Nope, don’t do it!
You will be going from a point of having a “poor mentality” to having a “rich mentality”. Yes, think Rich! Don’t wait until you are making $100,000 or $500,000 a month . . . to think Rich.
No! Think Rich Now!
Pay yourself first!
Because when you do this, you will have money! You will not be broke . . . you will not have to live paycheck to paycheck. Do you see it now? Do you see that by Paying Yourself First, you are indeed buidling wealth in your life?
You have to pay yourself first to get out of the mentality of “thinking like a poor person” . . . You will be getting out of the conversation of . . . “if I only could save some money each month” . . . “if I only could have money” . . . “if I only could . . . “
By Paying Yourself First . . . you will Think Rich and then you will Grow Rich! Think above and beyond your current way of “Being”.
Rich Dad Poor Dad says: “Rich people are Bigger than their problems. Poor People are smaller than their problems.”
What does that mean to you?
Rich people already think Big, on a Large Scale . . . they think . . . Abundantly . . . they not only think they are larger than their problems . . . they KNOW they are larger than their problems.
Poor people think about their problems . . . they dwell in their problems . . .they stew in their problems . . . they let their problems consume them . . . And guess, what? They love them! They love telling their stories about their problems . . . about how broke they are . . . about how they have an old car and can’t afford a new one . . . about how they can’t go on vacation . . . . wah wah wah . . . cry me a river already!
Discover that You can Break the Cycle of How you are Thinking and You Will be breaking the Cycle of Poverty in your Life Forever!
A person having a Poor Mentality, cannot Rise Above this mentality. They cannot see that they can Make Themselves Larger than their problems. A poor person cannot see past their credit card statements, their bills, their debts and so on.
So, I want you to Pay Yourself First and get out of that Poor Mentality
Declare a part of your income that will be for you. Start off with just 10% of your income. Put it away. Save it! You deserve it! You deserve it!
What are you working for then? What are you working for if you are not rewarding yourself?
Reward Yourself
If you are the one working shouldn’t you be the first one to get paid? (Please say yes).
Is that what it means to Pay Yourself First? Yes, set aside at least 10% of your income for you. Put it in a separate account. We can call it your WOW account.
This will take you out of the Poverty mentality.
You will begin to feel different.
You will begin to Act different.
You will begin to Relate to Your Financial World with More Power.
And, you will begin to relate to your money and finances differently. You will be behaving from an Empowering Mindset . . . because, that old way of thinking - ”Poor mentality” – will be gone! Gone forever!
So, to conclude today’s lesson I want you to simply take action:
STEP 1 – Determine how much of your income you want to put away.
STEP 2 – Establish a new bank account.
STEP 3- Determine what you will do with the money in this account. Is it to set-up an emergency fund (6 months of living expenses) or for investing for the future. You declare the purpose of this account.
