Is Your Mindset Affecting How You Approach Life?

THE BIGGEST FIGHT OF YOUR LIFE IS TO BE UNDERSTOOD   An important part of a mindset is to make sure that it’s not set in stone. We change, people change and life changes. It’s never good to stick your foot in the mud and live by everything you learned growing up. Your personality and beliefs don’t need to be that of your parents. This is part of becoming an adult although some people struggle to find their purpose. As we age we need to set our own foundation whether we come from money or not. Related: How A Life Changing Illness Shaped Our Financial Future If your father was a miserable man who only complained about what he didn’t have and everyone else had but did nothing about doesn’t mean you need to do the same. It’s safe to say that we learn from what we see and do and are taught from our parents. Not everyone wants to pursue those lessons as they get older but many stay in the same slump without action. I don’t understand. No one understands me. I just want you someone to listen. Most often people won’t understand why you do what you […]

The Secret Society Of Knock-Off Rich People : Our October 2016 Family Budget Update

THE SHOW MUST GO ON EVEN IF YOU’RE BROKE   I’ve had enough of playing the role of rich person when I’m not and I just want to be normal. This was part of an email conversation I had with a fan who is struggling with guilt over his debt and underlying reasons for wanting to appear rich when he’s just part of a secret society of debt clogged consumers living in Canada. Pretending to be wealthy won’t make you wealthy, it makes you clumsy with your money which can and potentially will affect your present and future. If you truly believe that you can succeed by sloshing through crowds of affluent people with a line of credit or a slew of credit cards will help achieve your fortress then follow your dream.   Upscale performance of a life-time   The most expensive position you will ever have in your career is the one that you created that doesn’t exist. So you landed a role in the movie titled, “Upper Class” and you’re the star of the show. Is that a real Gucci Bag? Heck ya, I bought it when I was travelling in the UK. Lights, Camera, Action…you’re LIVE. […]

7 Reasons People Think You’re Flat Broke When You’re Not : The Saturday Weekend Review #190

DON’T GO FLAT BROKE TRYING TO LOOK RICH WHEN YOU’RE NOT.   You’re not looking for sympathy or hand-outs when people think you’re flat broke when you’re not. It’s their perception and not your influence that guides their belief and how they choose to act around you in regards to financial status. This isn’t a bad thing if you don’t want people to know about your oversized bank account and investment portfolio. One thing we don’t typically do is talk about our finances with family, friends, employer, co-workers or strangers. They don’t need to know how much money we earn, where we’re spending it and how much we’ve managed to accumulate in the bank. Have you ever heard of people who become rich because someone in the family passes away and leaves them part of a fortune in their Will which no one knew about? It happens because not everyone shares their success with the world and not everyone values money the same either. Then there are hopeful people who think they are going to become rich because Grandma Suzie was loaded only to find out she was skint and left them a family heirloom instead of money.   Money […]

When You’d Rather Be A Fortuneless Genius Than A Rich Fool

THE TALE OF TWO FINANCIAL MINDSETS   Not everyone aspires to be wealthy because although money can take away the stress of everyday financial obligations it can turn a somewhat happy life into a dull miserable daily routine. Then again the rich fool has no interest in becoming a fortuneless genius when they are motivated to build wealth. Who’s right? Who’s wrong? Neither…   Meet the rich fool   Life should not be about gathering wealth nor having an abundance of possessions as described in the Parable of the Rich Fool. There are plenty of wealthy people who may have all the luxuries they need but daily living becomes somewhat of a low-budget movie. It’s easy to put up walls and blinders to those struggles that are happening around the world when money is no object. The rich fool may not survive life on the other side of their bank account especially if they grew up in a life of luxury. Related: How possessions ruined us and minimalism gave us freedom Having lots of money to travel the world, buy fancy toys, big houses, fast cars and all the things that will frost your life with luxury doesn’t make you […]

Should the wealthier sibling have a financial obligation to help the parents? : The Saturday Weekend Review #143

EMOTIONAL BULLYING CAN LEAVE SCARS   Dealing with financial obligation is a big deal for just about everyone because without money it’s hard to pay for all those things you have budgeted. When you have kids you have a financial obligation to care for them and make sure they are kept safe. Nowhere do I ever remember reading that we have a financial obligation to care for our siblings and parents “wants” just because we earn more money than they do. I received an email from a fan who is clearly upset about the way his brother is treating him and hopes that maybe we can all shed some light on the definition of financial obligation surrounding family and who should pay for what or if anything at all.   Family financial obligation dilemma   Hi Mr.CBB, I’m hoping you can clear up an argument my brother and I are having about our parents. Our parents are not wealthy and when they retire they will have some retirement savings and their house to sell so they can downsize so they can afford to live. The problem is they always need something done around the house whether it’s the roof or […]

Setting Goals Like the Wealthy

MAKE  YOUR FINANCIAL SUCCESS COUNT   You may never be as rich as Bill Gates or Warren Buffett, but setting goals like the wealthy is just as important for you as it is for them!   Importance of setting goals   I’m sure you’ve already heard people preach on the importance of setting goals. ‘Make your goals specific, easily visualized, and attainable,’ they often say. That’s important advice for people to hear. But it’s not really enough to be helpful. As Mr. CBB recently posted , planning ahead is a critical part of financial success. But it is just as critical to plan ahead when setting your career goals!   Planning ahead   When I was growing up, my parents constantly told me to plan. The problem is that when I tried to do that, things usually didn’t work out anywhere near the way I expected them to. It didn’t take long to figure out that my efforts to ‘plan ahead’ were useless. I don’t know about you, but I don’t like to waste my time on useless endeavors! I can hear you thinking, That’s an odd story to tell when you just said that planning ahead is critical to […]

The Saturday Weekend Review #50: Should rich kids get off easy in the legal system?

BEING RICH MAY MEAN POWER BUT NOT LOVE   I don’t know what it’s like to be rich with money but I do know what it’s like to be rich in love having both my parents teaching me right from wrong. Drinking and driving is a huge problem all over the world and sometimes we have to learn the hard way even if it means we lose our own lives from the silly decisions we make or end up behind bars for taking someone else’s life. I was reading a Yahoo article about a rich kid (well he has rich parents) from Texas who was drinking and driving with blood levels 3 times the legal limit (yes 3 ) who killed 4 people and injured 9 who were on the side of the road helping another motorist. The defense for his case said it was due to ‘Affluenza’ and so the teenager was only given probation. What is affluenza you are asking? Good question…..they say it’s the failure of his parents to set boundaries for him. So in other words they are not that great at parenting. Affluenza, a portmanteau of affluence and influenza, is a term used by critics […]

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