What Are Your Money Making Fears?

Franklin D. Roosevelt declared at his historic inauguration speech that "the only thing we have to fear is fear itself". Roosevelt was speaking to an audience that was at the time experiencing one of the lowest points of The Great Depression which is probably what makes this quote both memorable and powerful. He was able to highlight to those experiencing tremendous financial suffering that your perception can form your reality and so getting rid of the fear of losing can make way for better times that could be just around the corner. Today, this message is just as truthful as it was all those years ago.

The following tips will help you to overcome obstacles to wealth accumulation.

1. Understand the law of attraction. Many people have made testament to the fact that there is a cosmic connection to your attitude and the things that come your way. If you constantly brood about how many problems you have, your problems multiply, but if you chose to focus instead on the positive things in life you will find that you begin to notice more of the same. This is also true for money. If you are obsessed with a fear of not having enough money you will constantly come up short or with just enough, but if you began to think instead of making more money, soon you will begin to find ways to do just that. If you have ever had a day when you wonder what else could possibly go wrong, you can also attest to the fact that like thoughts attract and subsequently manifest themselves into your life. Think then of the power you have over bringing good into your day instead simply by adjusting your outlook and seeking out the positive.

2. Expect to make money. People often enter into business secretly expecting to fail and then they wonder why they did. Expect instead to make money and use your energies to make this possible every single day. Success is hard work because it takes constant dedication, but the rewards are certainly great. Always be on the look out for ways to improve what you are already doing, even if your efforts have begun to bear fruit and you can record a decent balance in your bank account. There may be a way to do things better or to do things differently that may be even more lucrative. This keeps your mind sharp and your business on the cutting edge. Those who are huge successes get there by being always on. That means even when the take a vacation they are alert to the opportunities around them. You may think that this is a tiring way to live, but once you incorporate it into your life you will not even notice the difference. It becomes part of your automatic thought process.

3. Learn how to manage money. Knowledge is power, so you must ensure you are always properly armed with the facts. Learning how to manage your finances puts you in control of your financial future. It also avoids making costly mistakes because of a lack of information. Of course you cannot be expected to know everything, so it is also important to know when to hand over the reins to an expert. There is a difference between learning how to manage and insisting on an iron fist. If someone else has proven that they are better equipped then allow them to take the lead, but always be in the know about things that affect you financially.

4. Don't be afraid to take calculated risks. Taking risks is a part of making money. This is the age old trade-off. If there were no risk there would be no difference in the reward expected, because in the world of finance, your reward is directly proportionate to the level of risk you accept. Holding on to fears of risk taking cripples your ability to increase your wealth. There is a difference between speculative risk and calculated risk though, and learning the distinction can save you a lot of heartache. Risk is considered speculative when it cannot really be supported by facts, while a calculated risk is an outcome that is predicted based on solid principles. Taking calculated risks can ensure you build your portfolio in a level-headed and steady way.

5. If you fail, try again. It is important to commit to getting up each time you fall. Inevitably, you will make mistakes along the way, but it is crucial to take a lesson from each experience and then try again. The only true failure is a failure to try.

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