A lot of these guys out here like to write about mindset. Mindset this, mindset that, mindset is everything. I’m not here to disagree.
There are always at least two ways to look at any one thing. Broke mindset for example.
Some would give examples of broke mindset like
- Thinks everything’s too expensive
- Tries to avoid paying their share if you go out with them
- Saves money on insignificant stuff like tea bags, or paperclips, or laundry.
This kind of stuff is a waste of time. People who behave like this are just busy staying broke. – they put a lot of work in, to get nothing in return. I have my own broke mindset though – the good kind. Good Broke Mindset has allowed me to put a decent sum of money together across the last two years.
I started flipping in 2019 as a way of saving money to fund investments. After two years of doing business, I have enough to put a deposit on another house. Keeping a Good Broke Mindset is a large part of my success. Some of the keys to this are
- Recognize that my profits and investment growth are not for fun
- Classify my profits as “unavailable” mentally
- Continually rolling my profits back into my investments like some sort of machine.
I keep myself broke. I haven’t bought anything silly or fun (with a few minor exceptions). I buy t-shirts from K-Mart and drive my 11 year old car. I don’t go to fancy restaurants. My Good Broke Mindset keeps my money alive, and busy. In a few years, it will mean that I don’t have to be this busy. That’s the kind of broke I’m willing to accept.
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