The Timeless Wisdom of Wealth Creation

Written by Barbara Huson

The year is 1926. Henry Ford announces the 40-hour work week. The first SAT test is administered. And the notorious gangster, Al Capone, is terrorizing New York.

But the real news is this. The Richest Man in Babylon by George Clausen—perhaps the best financial book ever written–hits the shelves.

This quaint parable, filled with timeless wisdom, became a classic because it demystifies wealth building like nothing else I’ve read.

When we first meet the richest man in Babylon, he is telling friends the secret to his fortune.

“I found the road to wealth,” he tells them, “when I decided that a part of all I earn is mine to keep.”

The men look at him incredulously. “Is that all?” one asks, insisting that of course everything he makes is his to keep.

The wealthy man just shakes his head. “You fool, you pay everyone but yourself,” he cries, pointing to the clothing sellers, sandal makers, and wine merchants.

Instead, the rich man counsels them, learn to spend less and pay yourself first. “For every 10 coins thou places in thy purse, take out for use but nine.”

This is the way that Wealth Builders live—a part of all they earn goes into their personal savings on a regular basis. In other words, they pay themselves first.

I’ve watched countless underearners transform small salaries into hefty bank balances by simply socking away small amounts into a savings account every month.

But now, unlike 95 years ago, you can do this automatically. Fill out a form and voila, the bank takes care of everything.

What do you do next? The rich man’s guidance is simple. Once you learn to live on less than you earn, next “seek advice from those who were competent through their own experiences to give it. And, lastly…make gold work for you.”

If you follow Clausen’s timeless wisdom faithfully—pay yourself first, learn from those with experience, and invest for long term gain–you’ll find yourself well on the way to wealth!

What gets in your way to creating wealth? Comment below and let me know

How to Have a Legendary Love Affair…with Money

Written by Barbara Huson

In the spirit of Valentine’s day, I have a suggestion. There’s no better time to start having a legendary love affair with your money.

Think of it this way…

Money is like the perfect romantic partner. All it wants to do is serve you, support you and protect you.

All money requires in return is for you to respect and appreciate it by taking good care of it.

In other words, money needs your attention. It needs your understanding. And it needs to feel valued.

Without those, neither a mate nor money will stick around for the long haul.

And as in all relationships, there are good times and bad times.

Bad times are not the time to turn your back, throw in the towel or ignore your finances. At least not if you want to grow old together.

How do you survive the rough patches? Seek professional advice. Ask a lot of questions. Ensure you are positioned to grow and flourish when the tide turns.

It all boils down to this. When money feels your love, you both will live happily ever after.

What are you doing to make sure your money feels your love? Leave me a comment below and let me know.

What Covid Taught Us About Money

Written by Barbara Huson

I’m a Wall Street Journal junkie. When I first subscribed, 25 years ago, I was totally intimidated. But I’d lay it on the kitchen counter and every day I’d pass by it figuring, by osmosis, I’d pick something up. I credit that ritual for greatly reducing my fear of investing.

The Journal is always filled with interesting and instructive articles. Last week, for example, I was riveted by the headline Personal Finance Lessons We Can All learn From a Pandemic Year.

“With 2020 in the rearview mirror,” the article began, “there’s a lot of economic damage to be assessed. But there are a lot of personal finance lessons we can learn—lessons that will put us in good stead whatever the economic future holds.”

There were 15 excellent lessons. Let me share my 5 favorites.

What is Wealth? (Hint: It’s Not What You Think)

Written by Barbara Huson

I’ve been doing a lot of interviews lately. My latest book, Rewire for Wealth, made its debut last week.

The one question I’m asked most often is this: How do you define wealth? It’s a great question. And there’s a gazillion different responses. Most people will define wealth with a dollar figure that’s at least double what they currently have.

But I see it differently. Wealth is not an amount. It’s a mindset.

I know women worth millions who are financially insecure. I know many who have far less and consider themselves bountiful. Wealth without well-being is not the aim of my book or the work I do. Financial well-being means you’re in control of your money instead of being at its mercy.

The Power of Celebration

Written by Barbara Huson

Here’s a question for you. When was the last time you celebrated or simply acknowledged yourself for making the tiniest bit of progress—despite the difficulty?

Sadly, the answer for most will be ‘I can’t remember.’ Perhaps this is why so many struggle, in vain, to change.

Positive reinforcement—anything from patting yourself on the back to popping open the bubbly—works for one simple fact. Rewarding yourself feels good.

And any pleasant sensation triggers the release of pleasurable chemicals, like dopamine, encouraging the brain to keep repeating the behavior.

“It’s no secret that we derive pleasure from doing things we enjoy,” said neuroscientist Rui Costa, CEO of Columbia’s Zuckerman Institute. “The brain learns which activity patterns lead to feel-good sensations and reshapes itself to more efficiently reproduce those patterns.”

It’s why teachers give kids gold stars and cute stickers to encourage behaviors that may not come naturally or feel good right away.

Rewiring for Wealth is anything but pleasurable in the beginning because it often requires delayed gratification. There’s no immediate reward for spending less, saving more, or investing wisely. But the feel-good payoff for dining out, buying a new pair of shoes, or traveling to Tahiti is instantaneous.

A Grand Experiment in Mind Training (And A Gift to Support You)

Written by Barbara Huson

I spent New Year’s Day mulling over goals. Normally, I come up with a fairly long list of things I want to accomplish over the next 12 months. This year, however, I decided on only one.

Neuroscience research has convinced me that this single goal is so astonishingly powerful, that if I stick to it—and I fully intend to—will produce profound changes in my life. And yours too if you care to join me.

My one goal for 2021 is: Whenever I notice I’m having a negative thought, I will immediately replace it with a loving one.

Words are powerful. Language literally shapes our brain.

Whatever you repeat often enough—whether the words are in your head or come out your and mouth, even if they are a lie—your brain will hold as truth, your words become self-fulfilling prophecies and your behavior will follow suit.

Case in point: How drastically different conversations are with high earners than with their lower paid peers.

Don’t just Resolve…Rewire!

Written by Barbara Huson

The ritual begins the morning after Christmas. I wake up wondering about the coming year. As I write, 2021 looms before me like a blank canvas and I ask myself—how do I want to fill it?

Thus begins the Annual Writing of My New Year’s Resolutions. I suspect many of you may be doing the same.

Even if you don’t actually write them down, I imagine you contemplating what you want to achieve in the coming 12 months.

We do it even though we know that New Year’s Resolutions rarely work. In fact, 80% of us give up by the second week in February.

That’s why I’m doing it differently this year. I’ve discovered another way, a better way, to bring those Resolutions into reality. Don’t just Resolve…Rewire!

The Immense Power of Shifting Your Perception

Written by Barbara Huson

“There is another way of looking at the world.” When I read those words in A Course in Miracles (ACIM), I had no idea what a game changer they would be for me.

I realize now, after studying neuroscience, the Course was telling me a profound, but simple, secret to creating miracles AND rewiring your brain.

The secret is this: whenever you’re upset, disturbed or challenged, say to yourself: “There must be another way of seeing this.”

Then consciously and consistently change, or reframe, the way you interpret an event. It makes no difference if it’s true or not.

The moment you start telling yourself a new story, your brain’s wiring will change. And when your brain changes, your world changes miraculously.

Admittedly, reframing can be difficult. I’ve found three techniques that have helped me shift my perception—and, as I’ve only recently understood—reprogram my unhealthy beliefs and behaviors into much healthier ones (which, in itself, is a miracle).

Why Your Brain Thinks You’re an Imposter

Written by Barbara Huson

I clearly recall interviewing over 150 high earners for my book, Secrets of Six-Figure Women. I expected these women to be extremely confident. And they were indeed.

What I didn’t expect was how many struggled with crippling fear, chronic self-doubt and felt like a fraud, terrified others would find out—The Imposter Syndrome

That was exactly how I felt. But there was a difference between them and me at that time. They didn’t let fear and inadequacy stop them. Their courage inspired me.

In fact, after one of those interviews, I grabbed a blank piece of paper and wrote, in red crayon: “Do What You Fear. That’s How You Succeed.” I framed it and put it on a table across from my desk where it still stands today.

Now, decades later, I look at those words and realize I need to add a critical caveat: “But Don’t Forget to Rewire.”

Thank You!

Written by Barbara Huson

Today, in the spirit of Thanksgiving, I’m taking this opportunity to say Thank You…

…to all of you who are reading this blog, even if it’s the only time you ever do, I truly appreciate you reading it today.

…to everyone who’s ever written to tell me how my work has impacted your life, you have no idea how your words have impacted mine. In fact, your notes and emails are tucked in a box beside my desk.

…to anyone who’s bought my books and perhaps passed it onto a friend, this means more to me than you can ever know.

…to those of you who’ve joined my groups or signed up for coaching, I’m endlessly grateful you trusted me to guide you while teaching me to be a better guide.

…to my amazing team—Lynda Jo, Carney, Jayme & Ben—for taking care of all the details I abhor and for supporting me in such a deeply loving way. I really would be lost without each of you.

…to my ex who gambled away my inheritance and my father who wouldn’t lend me money, you taught me that, indeed, the obstacle is the path, leading me straight to my life’s purpose.

…to my wonderful financial team, because despite current events, my portfolio has more than doubled since I first found you.

…to McGraw Hill, the publisher who said yes to my latest book, when all the other said no.

…to my kids and grandkids who are coming to spend Thanksgiving with us. Truly, my cup runneth over.

…to my beloved husband who rarely lets a day pass without expressing his love, appreciation and support for me.

Once again, from the bottom of my heart…THANK YOU ALL!

I’d love to know who’d you like to thank this holiday season. Leave me a comment below.

Blog

The Timeless Wisdom of Wealth Creation

How to Have a Legendary Love Affair…with Money

What Covid Taught Us About Money

What is Wealth? (Hint: It’s Not What You Think)

The Power of Celebration

A Grand Experiment in Mind Training (And A Gift to Support You)

Don’t just Resolve…Rewire!

The Immense Power of Shifting Your Perception

Why Your Brain Thinks You’re an Imposter

Thank You!

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