If you’ve read my ebook, The Financial Freedom Formula, you know that I’m a big fan of mantras. Mantras are just short sayings and quotes that I’ve memorized, that distill a larger idea about wealth into something that I can easily carry and repeat.
Mantras help me keep rock-solid ideas about money front and center in my conscious. This is vitally important in the microwave-fast world we live in, that’s full of constant interruptions and distractions.
Of the dozens of wealth-building mantras I’ve used over the years, the very best one was also the simplest…
I’m a money magnet.
This thought occurred to me so many years ago. I had decided to become rich, and that decision had me reading and thinking about wealth building day and night back then.
At the time, I had a net worth close to zero. Not coming from a “money family”, I knew that to build wealth, I had to do just that – build it. And so my first wealth-building mantra was based on that. How can I build a large pile of wealth? What mantra could I use to constantly remind me that I was to build wealth, not destroy it?
So the idea came to me that I would be like a magnet with money, literally attracting every dollar that I could.
And a funny thing happens when you give your mind a task…like a well-trained dog it goes out and gets it done for you! It wasn’t long after I adopted the “magnet” mantra that money literally started pouring in…
Extra jobs and side hustles meant more money that came to me.
Stock dividends and real estate investment meant more dollars being brought into my universe.
Pay raises and promotions added to my swelling bank accounts.
To this day, people still approach me with business and investment opportunities that continue to grow my wealth. A money magnet, indeed.
Submitting yourself to a “commandment” like this will change the way you think and feel about building wealth. It will help you get crystal clear about what it is you’re supposed to do. It will make you less accepting of temptations and distractions that want to make you the opposite of a money magnet – a money repellent. It will make it easier to understand what it is you’re supposed to do with money – build it.
I have explained this mantra to lots of people over the years. And I don’t think more than a handful ever took it seriously. Perhaps it didn’t seem clever or sophisticated enough for them.
Which is interesting because…
Warren Buffett was once asked why more people didn’t invest in the simple way he did. His reply was telling – “There’s something perverted about some people’s brain. If it’s too simple they ignore it and insist on something that’s more complicated, to which they’ll probably fail at”.
Friends, we live in a complicated world. Things are coming at us in all different directions. There’s the job, the marriage, the kids, the mortgage, the property taxes, the cars and what to do about the family parakeet who has now become wheat intolerant?
If you don’t distill your main priorities in life down to manageable ideas, the days, weeks and years will run by you with nothing to show for them in the end. Don’t make money and wealth building an afterthought. Make them a before thought.
Here’s a fun fact: Way back then, I would make my computer passwords some type of shorthand for the financial goal I had at the time. Every day that I entered those passwords, I was literally reminding myself of what I was going to accomplish. It’s not a mistake that I did accomplish those goals. Napolean Hill taught us that “what the mind can conceive and believe, it can achieve.”
Conceive is the right word. We literally give birth to the idea that we are to be rich. And we must give that new creation a name. A label. Something to know it by. Something that makes it personal to us.
The money magnet analogy may not be the right name for you, that’s fine.
Here’s the question, what is?
Is it the mantra of “I’m get richer every day”? That’s a great one.
How about that slogan your grandfather gave you “a penny saved is a penny earned”? This is a wonderful mantra to carry around.
Or how about “fifty million by fifty” for a goal-based mantra that becomes the “name” of your commitment to become wealthy?
If you are considering creating your own mantra, I would encourage you to align it with your values. My daily mantras remind me to live my values every day.
You might also want to create a mantra focused on changing a particular money behavior or habit you want to adopt that will help you reach the goal of financial independence.
Send me a note and let me know what your top money mantras are. I’d love to hear what you repeat to yourself daily, to ensure you’re on the road to financial freedom.
Be free. Nothing else is worth it.
P.S. Why aren’t you wealthy yet? It’s because of something you don’t know. Otherwise you’d already be rich. Isn’t it time to learn what you don’t know? Consider signing-up for my newsletter below, to help you build wealth faster.
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Ready for more tips on how to achieve the free life? Check-out more articles from the blog archives below:
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