Making the decision to shift to a wealth mindset is the first step of many towards building a wealth legacy. Taking action is the second step. Both steps are very important but maybe not the most important. The most important step towards a long-lasting wealth mindset is not allowing a setback to undo all you have accomplished.
Sometimes making a change is easier when everything is going right. Let’s use weight management as an example: Everything is easy as long as the numbers on the scale keep going down and you can get out an exercise regularly... then BOOM! Life throws you a curveball. You twist your ankle and end up in a cast for six weeks. Suddenly, your success isn’t as easy. Being sedentary and feeling blue, the cakes are calling and there’s no way to burn up the calories. That setback can undo your weight loss success if you don’t modify your thoughts and actions.
You may find that you are doing all the rights things. You’ve…
✔Gotten an advisor
✔Made a budget
✔Enlisted your family in planning
✔Are saving
✔Are spending responsively
✔Are being generous
Things seem to be going well and you are proud of your efforts and think your mindset is on track. Then, BOOM! Life throws you a curveball and you face a financial setback. What are you going to do?
Here are some do’s and don'ts for a financial setback:
Don’t
● Let a setback become evidence things aren’t working
● Let one issue throw you off course
● Let a setback get into your head
● Forget there is always a solution to every problem
Do
● Find someone to talk to about your issue
● Get the family in on problem solving
● Realize all success and failure is temporary
● Keep doing the next right thing
Life has a way of ebbing and flowing, and a healthy mindset allows for both to co-exist and not drag you down when things are tough. Making the right decision always wins out over time. Doing the right thing - financially and otherwise - is always the best policy. Don’t let a financial setback ruin your mindset. Things tend to work out in the end.
This content was created by Piggy Makes Bank and presented by Mountain Flower Investments & Planning.
