Saturday, August 13, 2022

5 Simple Ways to Attract Wealth and Good Fortune

Often, it seems like some people just naturally attract wealth and good fortune. While luck can be part of the equation, that doesn’t mean you can’t take steps to bring more of both into your life. If you’d like to improve your situation, here are five simple ways to attract wealth and good fortune.

1. Adopt the Right Mindset

Your mindset has a surprising impact on your good fortune. For example, if you’re generally optimistic and embrace positivity, you may have an easier time identifying, pursuing, and seizing opportunities as they arise. If you develop a wealth-oriented mindset, saving for the future may seem like less of a chore, ensuring you don’t interpret the activity as a form of deprivation.

Ultimately, how you view your life, your situation, and your money matters. By ensuring your mindset leads you toward good fortune, you’ll have an easier time attracting it.

2. Create Barriers to Unnecessary Spending

While hoarding every dime you earn isn’t practical or healthy, avoiding unnecessary spending can be a key to wealth generation. When you use money wastefully, you can’t capture its growth potential. That’s why it’s wise to create barriers to extraneous spending, ensuring you don’t act frivolously or splurge mindlessly.

There are several techniques that can be surprisingly effective. One strategy worth trying is the 72-hour rule. With that, you contemplate any non-necessity purchase for at least 72 hours before moving forward. That break helps you determine if the item is something you legitimately need, ensuring you don’t spend on a whim.

Putting a goal reminder in your wallet can also help. Having an image printed on or attached to your payment card that aligns with your target ensures you remember why you want to avoid unnecessary spending. In some cases, that’ll help you walk away from frivolous purchases.

3. Be Grateful for What You Have

In many cases, people spend unnecessarily when they feel they don’t have something they need. The same can be true if they’re jealous of someone else’s possessions or financial capabilities, leading them to try and keep up.

By practicing gratitude, you learn to value what you already have in your life. Often, that can help you avoid negative feelings that could drive unnecessary spending, making it easier to build wealth through sound financial choices.

4. Know What It Took to Earn That Money

Money can feel like a nebulous concept. Many people struggle to understand its perceived value, leading them to make poor choices simply because it isn’t clear what the money represents.

However, one approach can provide a surprising amount of perspective. By knowing precisely how much of your life you gave to an employer to receive that money, you can get a better grip on its functional value to you. Then, by relating that to the price of an item, you get even more context.

When you do the calculation, don’t rely on your pure hourly wage. Instead, you need to focus on net earnings, as that represents your spending power. Additionally, don’t base it solely on how many hours you work. Factor in the time you spend getting ready in the morning, commuting, and handling other necessary tasks that allow you to work effectively. By doing so, you get your real hourly wage.

Once you know your hourly wage, you can use that figure to decide whether a purchase is worthwhile. By dividing the cost of an item by your hourly wage, you can see how many hours of your life that purchase effectively costs you. Often, that can give you a new perspective, allowing you to value money in a new way.

5. Embrace Reminders and Automation

While reminders and automation won’t lead directly to wealth, using systems that ensure tasks don’t slip through the cracks makes a difference. It allows you to avoid professional, personal, and financial missteps that come with significant consequences.

Professionally, missed deadlines can lead to reprimands, demotions, and terminations. By using notifications to alert you to upcoming deadlines, you can ensure you’re on target. As you maintain a great performance, opportunities for raises or promotions become more likely, allowing you to boost your wealth-building capabilities.

Automating your bill-paying ensures you aren’t late. That preserves your credit, making it easier to qualify for lower interest rates. In turn, your habits bring good fortune in the way of reduced costs, giving your budget some room.

Do you know of any other simple ways to attract wealth and good fortune that people should know? Have you used any of the strategies above and want to discuss your experience? Share your thoughts in the comments below.

Read More:

  • Startups 101: Building Your Wealth Without the Risk
  • These Are the Top 2022 High Income Skills
  • Top 3 Lies About Growing Wealth

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Tamila McDonald
Tamila McDonald

Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.

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