Today we have more information readily available than ever before. We no longer have to go to libraries to learn. On the Internet we have access to information on mutual funds, annuities, insurance, stocks and bonds. Everything we could possibly want to learn about finances is more accessible today than it has ever been before. We don’t go to libraries anymore.
So why is it that the percentage of those who are financially free today and those who are not is still the same as it’s always been?
I think it’s because the number one reason for financial freedom is your own self image. The biggest problem isn’t the fact that we don’t know about how money works. That’s secondary. The primary problem of the financial issues we have in America is people’s perception of what they’re worth. The main issue is how you answer questions such as:
- How much money do I deserve to make every year?
- What amount of savings do I deserve to have?
- What do I want to do with my finances?
- What do I think about myself?
- Do I think I’m capable?
- Do I believe in myself?
Here’s an example to think about.
If you’ve never made $100,000 or $200,000 before and somebody comes up to you and tells you, “I believe you have what it takes to make $200,000 and you get upset, that’s a reflection of your self image. It shows you don’t believe in yourself. Do you get what just happened? I’ll give you another one.
If you find yourself being around other people that are also complaining about the economy and where they’re at financially, that’s really a reflection of you. That’s your self image, because that’s your comfort zone.
If you’re around other people that conceptually talk about ways you can improve finances and how simple it is, and it upsets you, that’s a reflection of your self image.
The good news is, all of that can be fixed. It’s not a bad problem. I was there myself just 15 years ago.
I didn’t think I was worth the amount of money I wanted to make. I didn’t think I could have a big savings account. I didn’t think I could learn those things. Once I got my mind to start thinking in a different way about my self-image, then the next step was learning how money works and what to do with the money I make.
Tax returns are a good example. What do you do with them? A lot of years when I got my tax return, I spent it for a trip or party or barbecue. Instead of doing that type of thing with a tax return, a person with a healthy self worth will say, “I want to be abundant, I want to make more, I want to be financially free.” They will then take that money and use it to start a business. Doing that is a reflection of their self-image.
Working on your self-image won’t be an overnight process. But as you work on it, you’ll see the elevation of your worth going to a level you’ve never been before. And then once you learn how money works, when money comes your way, you know what to do with that money.
So the first thing you need to do if you want to gain financial freedom is to work on your self image.