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Money and Confidence are Interchangeable

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https://www.mrmoneymustache.com/2018/03/09/money-and-confidence-are-interchangeable/

mrmoneymustache.com

Money and Confidence are Interchangeable
So, I'm assuming you are here reading this because you want to get yourself some more money. And since this is Mr. Money Mustache and not a standard financial publication, you're willing to think about the bigger picture: Not necessarily "Maximum money at all costs so I can have a nice, spendy retirement!"

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The Money We Need

We don't really need massive amounts of money to live a happy life.

A good level of freedom and self-confidence can be attained by a relatively small figure of money.

We can take the mi...

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Confidence and Freedom

Many 'high-achieving' people lack flexibility, freedom, and confidence to change things in their life when they want. This is due to the build-in traps and insecurity of living a high achievers lif...

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What Confidence Means

  • It means not equating money with happiness, being self-assured, to understand that you cannot change the world but your response to everything you experience determines your happiness.

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Forming good habits

Habits are little chunks of auto-pilot behavior that get burned permanently into your mind. Once you develop a habit, you can never really delete it.

Habits start with a trigger, which se...

Find the trigger point of your habit

Describe your own behavior in detail, and search for clues you might have missed before. Find your trigger.
If you have a habit of making coffee, it might be triggered by entering the kitchen. Some people eat in response to boredom or buy stuff in response to their desires.

Trick yourself

Take an existing cue you have, but trick yourself into triggering a different behavior.
If you want to quit coffee, you could give away the coffee machine and put a box of tea or a glass of water on the countertop.

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Meaning is the associations that our minds draw

Our brains invent it as a way to explain all the crazy shit that is going on in the world around us. This helps us predict and control our lives.

Types of Meaning in Life

1. Cause/Effect Meaning primarily involves the logical parts of our brain: You kick the ball, the ball moves.
2. Better/Worse Meaning has to do with the nature of our values and relies mostly on the emotional parts of our brains: Eating is better than starving.

Meaning is nature’s tool for motivation

It’s how evolution made sure we got shit done. When there is great meaning attached to something, we will go to insane lengths to make things right. 

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Time is not money

Time is not money

Even if these two share some connections, time isn't money. Time is energy, money is a thing. And they each have power over our lives.

Money is infinite but time is...

Disrupting the time-money relationship

Investing and passive income disrupt the time-money relationship.

To make money without having to trade any of your time frees up your time to ultimately do things that are more important to you.

The best investing strategy

  • Make as much money as you can
  • Keep your expenses low
  • Invest the difference
  • The more you invest, the faster your money will compound and bring you more money
  • Sit back and earn money with no effort. You are no longer trading your time for money.

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Reframing excuses we make for not reading:

  • Time: Stop thinking of it as some activity that you do when you feel like it. It should be a reflex, a default.
  • Money: Reading is not a luxury. It’s a necessity.
  • Purpose: Whate...

The purpose of reading

The purpose of reading is not just raw knowledge. Reading is part of the human experience. It helps you find meaning, understand yourself, and make your life better.  

Reading more

If you want to read more, there’s no real secret. It’s about adjusting your priorities and your perception so that reading becomes an extension of who you are and what you do.

Diffuse the fear of being rejected

... by acknowledging and expecting it can and will hurt.

To overcome the sting of rejection, stop trying to avoid feeling that stings. Stop pretending your unaffect...

Interrupting rumination

Make a contract with your partner, family, and friends allowing them to catch you in the throes of verbal diarrhea when you were unfairly treated.

Work out three or four different activities that will distract you and turn your attention to something productive. 

Regulate the number of rejection opportunities

 ... you expose yourself to.

We all have a different threshold of the amount of rejection we can handle. Wisely considering how much more you can handle is essential. 

Before you take another step forward, ask yourself if you have the right resources and support in place to catch you.

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The greatest motivation

The most motivational statement comes down to three words: “You’re gonna die.”

You get one life and one chance to make yourself happy. Instead of sitting and complaining about not purs...

The life you want

No matter your age, you have the time to make yourself happy:
  • If you’re in your early 20s, most likely you don't have major life commitments, so this is the time to take the chance on the life you want: travel, experiment with your talents, start networking.
  • If you’re in your 40s, 50s, 60s, or older, instead of retiring and taking up golf, maybe it’s time to triple down and really focus on what you want. 

Stop making excuses

There’s this tendency people have to pass over opportunities when they think they can just “come back to it later.” People are living their lives like they have unlimited time. 

The biggest poison we encounter as humans is regret, so stop making excuses and start making yourself happy.

Defining "Success"

“Success” isn’t just having lots of money. 

Success is continuously improving who you are, how you live, how you serve, and how you relate.

Lose an hour in the morning, and you will be all day hunting for it.

Lose an hour in the morning, and you will be all day hunting for it.

Putting "first things" first

Start the day with your #1 priority.

Getting up early isn’t enough. You need to put first things first. When you put your top priorities first, then you ensure they make it into the bucket of your day. After your main priorities have been completed, the rest will fill the gaps.

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“The Freedom Finder”

The freedom finders like to spend on new experiences in the pursuit of “living life to the fullest.” 

Try using a budgeting app or immediately allocating a portion of...

“The Relationship Protector”

The relationship protector is often family-oriented. If they can support them emotionally and financially, it gives them their sense of achievement at having helped. 

A relationship protector is far less likely to make spontaneous investments when others depend on them, and their conservative approach to saving prepares them for retirement. 

“The Opportunity Seeker”

They’re always looking to expand their options, and every financial decision is carefully calculated to maximize growth. 

The opportunity seeker has to watch out for taking on more risk with business initiatives or investment opportunities. Spending time with a professional to seek a second opinion can help you assess whether the newest opportunity is the best one for you. 

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