Stop Thinking Like a Consumer and Start Thinking Like an Investor

A lot of people want the benefits of investing but they're stuck in a consumer mindset.

What exactly does that mean?

It's when you're more interested in how much something is going to cost vs the possible return on investment (ROI).

It's when you're questioning if you can afford to invest instead of looking at how you can't afford not to invest.

It's looking at the things you're spending money on and saying "I work hard - I deserve it" instead of saying "My money works for me, and I’ll pay for it with the profits from my investments.”

In part one of the Mindset Series, I'm breaking down the differences between someone who has the mindset of a consumer vs someone who has the mindset of an investor. 

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00:08:00 “How much do things cost?” Vs “What’s the return on investment?”

00:11:00 “Can I afford to invest?” Vs “I can’t afford NOT to invest.”

00:16:00 “What if it doesn’t work?” Vs “How do I make it work for me?”

00:25:00 Your test becomes your testimony.

00:26:00 “I work hard, I deserve it” vs “My money works hard for me, I’ll pay for it with my profits.”

00:33:00 “I’ll buy it with my tax return.” Vs “I’ll  invest my refund and buy it with my profits.”

00:37:00 “I was approved for this and the payments are small.” Vs “I was approved for it but it’s not part of the plan.”

00:45:00 “I could afford one of those too if I really wanted it.” Vs “What did you do to get that, and can I pay you for your time?”

00:51:00 “Why would I pay for this I can learn it for free?” Vs “I could eventually learn it for free but how much time could this save me?”

01:00:00 Which one are you? 

Click here to watch now to watch the full episode now.

If you resonate with the consumer mindset then you can start to ask a new question: 

How can I start to make some new decisions and migrate to the investors side?

And if you are already on the investors side, you can:

1. Recognize the consumers in your life (friends, family, etc) because sometimes we seek investment advice from consumers when we shouldn’t. 

2. Try to seek out other investors and push each other in the right direction. 

Getting into the right mindset is essential when becoming a successful investor. I want you to text me right now and answer these two questions: 

Which side do you resonate with and what you are doing to become a better investor?

It's time to take things to the next level and I want to help you do that.

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