Michael Eisenga Reveals Mental Shifts You Need to Make Immediately If You Want to Be Wealthy
If you’ve ever heard the phrase “it’s all in your head,” you might think it’s an overstatement, but your mindset plays a large part in determining if and how you achieve your financial goals. Are you tired of not having enough money? In this article, Michael Eisenga lists five major mental shifts you can make to improve your finances and take control of your life.
#1. Get Over Your FOMO
What is “FOMO”? FOMO stands for “fear of missing out.” FOMO can prompt you to buy the latest gadget or the newest car just to keep up with modern trends. That can eat into your budget in ways that aren’t necessary.
Even experienced investors need to be cautious about FOMO. After all, it’s easy to make rash decisions based on fear regarding stock market trends and investments.
Instead, take a long-term view when it comes to your financial future.
#2. Be a Lifelong Learner
Have the humility to admit that you don’t know everything. This will free you up so that you can listen to the input from others. Learning from the successes (and failures) of people who have experience in the market can guide you in your journey toward financial success.
Commit to spending five hours each week learning something new. This can improve your creativity and your critical thinking skills, which are imperative for financial success.
#3. Practice Resilience
You’re going to fail. It might happen a lot. Every road to success has detours, and you’re no exception.
With this in mind, don’t dwell on the past. Instead, use your experience as a catalyst for learning and growth. After a disappointing loss, jot down some of the things that you’ve learned and ways you might improve the next time around. But that’s it.
There’s no time for wallowing in self-pity. Let failure be a course correction, but maintain your forward momentum.
#4. Let Your Critics Be Your Coaches
Every great leader will experience moments of doubt after receiving criticism. Don’t ignore it, as much as it might sting.
Input from others can expose weak spots in your character or vision, leading you to shore up your vulnerabilities. Listen the most to the ones who are closest to you. Your spouse, family, and friends have known you the longest and might have the most relevant things to say to you. But remember shrugging off the barbs tossed at you by acquaintances or anonymous online critics.
#5. Practice Gratitude
Finally, don’t let your quest for success diminish your contentment. Sure, there’s value in keeping your dreams in front of you, but finding a balance is critical for your mental health (and your social relationships).
Take time off to spend with your family. Do something you love. Appreciate the advantages you’ve been given and how you’ve grown as a person.
Learn to love what you have. Keep reaching for success, but keep your feet firmly planted on the ground.
About Michael Eisenga
Mike Eisenga is a commercial real estate investor and entrepreneur. He has served in multiple leadership roles, including as the mayor of the City of Columbus and the President of both American Lending Solutions and First American Properties. He is passionate about helping others move toward financial success and active in his community by supporting his church, local police and fire departments, and public schools.