[Excerpts from this post are taken from Larry’s book, Beyond Peace In Christian Finances: Accelerating Past Average With Your Money Plan]
Sara Blakley and Spanx
Sara Blakely may not be a familiar name in the average American home. Some of the products she has created for women, though, would be recognized through her company called Spanx. As a young woman, Sara pursued several different business opportunities that were not working out for her. Before starting her own company, she was selling fax machines door to door. Sara recalls that this time in her career was a great learning experience for her. She learned how to handle rejection through hearing lots of “no’s.” She also learned how to get to a “yes” as well. The art of the sale was a valuable lesson she learned as she finally launched her own company. She also learned another valuable lesson—visualizing becoming successful.
Blakey says she could see her business succeeding from the beginning. She visualized herself being the successful owner of Spanx. Blakely says, “I believe you can take mental snapshots of your future and what success looks like to you. If you mentally see yourself in a scenario, you’ll start to make decisions in your life that get you there.”
Sara Blakely thinks differently than most people. As a result, Forbes Magazine has recognized her as the youngest self-made female billionaire in the world.
Wealthy People Think Differently
Wealthy people think differently at many different levels. I’m not talking about the NBA basketball player who has the $10 million crib with ten expensive cars parked out front, either. One could make the argument that many professional sports athletes handle their money like poor people who have won the lottery. But, I digress.
When I mention wealthy people, I’m talking about people who have learned to generate income through the purchase of assets and not liabilities. This is the classic Robert Kiyosaki definition that he outlines in his book Rich Dad, Poor Dad. The world has too many people running around today who appear wealthy. If one dug down into their finances, though, they would find they are actually quite poor. They have too many liabilities and not enough assets that generate income for their families.
Wealthy People Ask Questions
Rich thinking doesn’t mean driving a hoopty and living in a double-wide trailer while being the rental house king in our respective city with thousands of dollars in savings and investments. But before signing up for a book of payments on a $40,000 SUV or buying a $750,000 mortgage for the most expensive house in a great neighborhood, many questions should be asked. Wealthy people ask themselves money questions, such as:
- Am I buying assets or liabilities?
- Is this the best use of my money right now?
- Is there a better place or better opportunity to leverage my money?
- Do I need this particular item right now?
- Is this a true need or a want?
- What is the wisest thing I could do with this money, today?
For the Christian who is attempting to live according to these principles, this adds another layer of spiritual thinking. Additional questions could include:
- Would God be pleased with this purchase? Why or why not?
- Will this purchase impact my level of giving in the future?
- Have I prayed about this purchase, or am I engaged in a worldly mindset?
- Is this the absolute best use of God’s money?
- If I make this purchase, would God be able to say to me, “Well done thou good and faithful servant”? Why or why not?
There are several key differences between the rich and poor concerning financial thinking. Wealthy people process money information, ask themselves a lot of questions, and seek the wise counsel of others they trust. Poor people follow the poor money habits of the majority of people around them. The poor make emotional purchases based on popular opinion and feelings instead of an overriding financial plan.
The information shared in this post can be found in Larry’s book in the Amazon Kindle store: Beyond Peace In Christian Finances: Accelerating Past Average With Your Money Plan.