7 Money Hacks to Help You Achieve Financial Freedom

7 Money Hacks to Help You Achieve Financial Freedom

Updated on October 04, 2022 10:32 AM by Andrew Koschiev

Your mind is your secret tool for making money

If you have a positive view of life, you'll probably be able to handle financial stress and other problems well. If you think badly about money, it will probably hold you back. I think that making money is 80% mental and 20% learning, knowing, and doing. You have to want to learn, be excited to put what you learn to use and be passionate about what you do if you want to stick with it. Thoughts affect what people do. What you do affects what happens. You can definitely change the way you think about money. Today, I'll show you how to do that by using "money mindset hacks."

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 Make a goal for the present

Smart goals are great, but sometimes they feel too far away or too unrealistic to keep in mind and keep things interesting. Instead, say your goal in the present tense in a positive way. If you do it right, it sounds like a daily affirmation. For example:

I'm so happy and thankful that I now make $X a year and can save X% of it for retirement.

Because I bought the right house for my family, they can live the life they deserve.

On my way to retiring early, I set up five sources of passive income that give me back my time and freedom.

See what's coming. Say it right now. Make it happen.

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Find out what makes you vulnerable

One of mine is Costco. It could be Target, Amazon, or Whole Paycheck for you (Foods). Some people are hooked on subscriptions. Or they can't say no to candy and magazines at the register. Some people deal with stress by buying little treats at the airport when they travel. Some parents love nothing more than to spoil their kids way too much. Even Instagram can be a time-waster that makes you shop because the ads are so spot-on. Everyone has flaws that cost them money. Identify yours. Own it. And decide to beat them or stay away from them completely.

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Get away from social media for a while

I gave the example of Instagram ads. The same is true for Facebook. There's also the comparison part. Seeing your friends and family go on amazing trips might make you want to take a weekend trip or plan a big trip. You can pause your accounts. If you delete your saved passwords, it will be harder to get in. I put these apps in a folder that isn't on my home screen because if you can't see it, you won't remember it. You can set your phone so that you can only use each social app for a certain amount of time each day. You can also just get rid of the apps all together.

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Think and act like a student

Many of the best business owners and investors spend a lot of time reading. Every year, Bill Gates reads 50 books. Every day, Warren Buffet reads about 500 pages. Reading a book about money is a good place to start. Choose one that can change the way you think about money and give you the drive to get out of your current situation or keep growing your wealth in new ways. Some books about money are scary and use scare tactics. Others are too long and hard to understand. Don't do those. Find something that makes you feel good. Something about you. Something with lots of useful advice that you can actually use. Also, I just told you about all three of my books, so if you're interested, you can check them out on Amazon.

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Think of money as a person with whom you have a relationship

I once heard great advice: treat your mom the same way you treat the mom of your best friend. You're nicer to other people's parents, don't you agree? What if you did the same thing and treated your money as if you were dating it? We all have some kind of relationship with money, which can be good or bad. But when you look at it from a person's point of view, you can see that you can both grow. With each other, you can make memories. If you take care of it and make sure your money is happy, it will do the same for you. Send it letters. Show your appreciation for it. I'm excited to spend time with it. And even sometimes accept gifts from it.

Give away some money

Giving even a small amount to a good cause might be the best way to remember what money is for, how it can help people, and how lucky you are. Even better, there are more benefits than that. Studies show that any act of altruism or doing something for someone else without expecting anything in return has positive effects on the body and mind. The Cleveland Clinic says that this means lower blood pressure, higher self-esteem, less depression, less stress, and even longer life and more happiness.

When you give a little, you can get a lot back. Giving makes you feel good, and it also helps your mind.

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 Find your state of flow

You know what I'm talking about if you've ever been in a flow state while working, running, reading, or doing anything else. Flow is a state of being at your best. It's when you're working at your best. You are not worried. Time seems to go by so quickly. Your output can be five to ten times what is usually possible. A 10-year study showed that when you're in the flow, you're 500% more productive. If you hit flow twice a week, you'll be 1,000% more productive. Finding flow is a mental money hack because tapping into it can often lead to financial wins, like a promotion. If you run a business, oversee a group, or have a boss at work, you know how important flow is. If you know what gets you into your flow, it can be a secret weapon for creators like me. Flow is how I've been putting out YouTube videos every week for years. I used to spend 20 hours on each video. I've got it down to between 6 and 7. I know myself and when I should work on these videos to get the best results.

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Conclusion

This list is easy to skim and move on from. But don't. Internalize each idea and use it in your life. It's the only way to figure out what works for you. As you do this, you will feel better about yourself and have more financial success. You'll realize that making the amount of money you want, getting your dream job, and getting out of debt are not only possible but also inevitable.

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