The topic for the weGrow Meetup on Sunday March 1st, 2015 was Mastering Money In Everyday Life.
It’s a topic that I’m very passionate about because I’m really committed to improving my financial habits and mindset so I can attract more wealth and abundance into my life.
Some of the areas we covered were the mindset of money, different ways to invest and save your money and how to stay recession proof. Most of the points I already knew from Anthony Robbins “Money” book, but I did gain some good insights and it was valuable to meet other like-minded people.
Here are my takeaways and opinions from the meetup topics:
Money is a means to an end. It’s energy; pure potential waiting to be expressed in either good or evil actions depending on the nature of the holder.
Money is deeply embedded into our psyche because it is connected to everything in our society. We either have a lot of pain or a lot of pleasure linked up to the idea of money or an opposing balance of both.
We need to be conscious of how we spend our money – is it from the place of reason, emotion, or subconscious deep-rooted survival mechanisms.
The more self control and awareness you have, the better you can manage your finances and the better you’ll do financially.
It’s OK to buy something emotionally, as long as your are aware of it and consciously decide this is what you want to do.
Successful people are even-minded when it comes to money – they don’t get overly excited when they have lots of it and don’t get ruffled when they don’t have much.
To manage money, you need to manage your mind. Change your subconscious beliefs and conditioning to positive empowering ones so you subconsciously link massive pleasure to money and will naturally gravitate towards attracting more of it into your life.
Best Way To Invest
I am not a financial advisor, so I disclaim any liability from my advice here – use at your own risk or seek professional advice from a qualified financial advisor. That being said, here’s what I recommend:
Diversify! Never put all your eggs into one basket and spread your investments across many different markets and sectors for maximum stability.
It’s unwise to try to “beat the market” because you will most likely lose. It’ s way way better to invest in index funds which mirror the market and make lower much much more stable returns. These are managed by you, with the upside of being much safer and steady.
The best time to invest is when the economy is in a recession or financial dip because prices drop far below the value of the assets and you can scoop up a lot for really cheap. When the economy booms, you’ll be making massive gains. Always have something to invest for these times. Don’t go with the flock and give in the mass fear of the current condition. Take the situation by the golden horns and take advantage of the amazing opportunities.
Best Way To Generate Income Even During Hard Times
In my opinion, the best investment you can make is in your education and building your own businesses. Why? Because the returns are much higher.
Think about it. If you buy one $10 book that gives you a few key insights and strategies that generate you $1000 each month, that’s a 100 times return on your investment!
Another example is creating a product – invest 50 hours of your time to create a valuable information product and sell it for $297. That’s a HUGE return with hardly any financial investment.
You could build an internet business from scratch that turns over millions a year in revenue and then sell it for $12 million. Far better than measly 1%, 5% or even 10% gains that take ages to grow.
Invest in yourself and your online businesses and you’ll be already far ahead of the general population who is content with being chained to a low-salary fixed income slave job.
I highly recommend you read Anthony Robbins new book called Money. It gives you a real in-depth view about how to take complete control of your financial future.