How you think about money is the single most important factor to determining whether you are wealthy or not. If more money in your life is what you want it’s crucial that you develop a positive money mindset.

However, many of us have been taught to think negatively about money. We’re told things like “money is the root of all evil,” It’s not! How you acquire/use it is – ‘Greed’. Another is “money doesn’t grow on trees”. Actually it figuratively can if you know how. No wonder we have such a difficult time thinking positively about money!

You may have even been taught that rich people are greedy and as a result you are subconsciously avoiding wealth and missing out on the great opportunities having money can provide.

As long as you hold on to negative and incorrect beliefs about money, you will never create the wealth you desire or deserve.

To change your money mindset, you must first recognize that money is not good or bad by itself. It is just a tool. In fact, money is more often used to do good than bad. Think about the wonderful charities that have been able to help people all around the world when they are given large donations of money. Appreciate all the good that money can be used for. It is important part of life and is used to make positive changes in the world. Money should be sought after, not avoided.

Recognize that money is abundant. When you were young, you may have been told by your parents that money doesn’t grow on trees. If you’re holding onto that belief now, your own mindset could be holding you back from attracting money. Money may not grow on trees, but there is an abundant amount of it for everyone, including you. However, if you believe that money is scarce, that belief will keep it far away from you.

Giving money away, such as charitable giving, is another way to develop a positive money mindset. Wanting to hang onto every cent you have is a sign of a negative mindset, reinforcing the idea that there is not enough of it. Giving reinforces the concept of abundance. Something I do every so often is pick a name/address randomly out of the phone book and. anonymously, send them some money – anywhere from$1 to $20 (or whatever you prefer). I find this a fun thing to do.

Finally, be happy for those who are successful and have money. Try to learn from them. We often remember being told that those who have money are greedy and are tempted to think negatively about them. In fact, the opposite is usually true. Rich people often accumulate their wealth by sharing what they have with others and believing in the idea of abundance.

When someone else has money, don’t resent their success. If you have feelings of jealousy, it will only hold you back from achieving your own wealth and success. Instead, be happy for them and remember that there is enough wealth for you too, and your turn will come.

Making these changes in how you think about money, will put you on your way to developing a positive money mindset. Once you begin thinking about money in a positive way, you will be on the path to achieving your own wealth.

‘The Jedi’s Grandpa’

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Some debts are more important than others and that importance will be determined by your individual situation. You need to prioritize your debt repayment and ensure that the most important debts are taken care of first.

The importance of the debt is determined by the impact that it can have on your life both now and in the future. For instance, clearing past due taxes might be one of the first debts that you would want to look at due to the penalties and compounding interest. Any type of debt that has a ‘compunding’ element to it is one you will want to tkae a hard look at. Federal and state taxing authorities have so many powers to seize assets and make life very difficult for you creates an extremely stressful situation!

A mortgage is another debt that needs to take top priority as losing your house can impact on your ability to pay all your other debts and also make it difficult for you to find accommodation elsewhere. If you don’t have your own home then you need to ensure that your rent and utility bills are kept up-to-date so you have a roof over your head and are able to live in suitable conditions to be able to work your way through your money problems.

Your budget will give you a clear indication of the total amount of debt that is owing to others and from there you can set your priority list where you can start to sort out payment plans with your creditors and your own steps to clear your debt.

Medical bills and court-ordered child support debt are also high on the priority list as failure to pay these can result in drastic action being taken that will once again make it difficult for you to work your way through your other debts.

Car loan repayments are a priority because car finance companies will quickly repossess your car if you fall behind with the payments and this can impact on so many other areas of your life such as your ability to get to your place of employment.

Don’t be forced into paying minor debts at the hands of debt collectors if you haven’t covered these priority debts first. Remember, try to work directly with your creditors, or credit agencies in your local area, rather than debt collectors.

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