Sunday, January 30, 2011

Video: Money Mindset or Consumer Mindset?

Who are YOU making wealthy?

As long as you decide to live in a civilized world, THAT is the best question you can ask yourself, because you make that decision every day.

I was looking for something else, but as I often do, I found a video that makes a great point and makes that point really well.

It's a 2+ minute video, but it hammers home one of the most basic points of investing. You need to adjust your mindset to a money mindset--not a consumer mindset.

The video from Community Dollars addresses the spending habits of many black women. (Disclaimer: I am a white male.) However, the lessons transfers to all of us, regardless of color, gender, or ethnicity.

Making money really is not that hard, unless we don't try that hard to make it a priority.

Here is the video:

I cannot catch the name of the person who is talking, which is too bad, because she makes a lot of sense--and money.

She cites that some people spend on hair products, which makes the hair care companies wealthy.

Some people spend on a Gucci purse, which makes Gucci wealthy.

She cites that if you have money to spend on these things, you have money to spend on investments, which will position YOU to be wealthy.

She makes a great point that you can never get wealthy if you never buy things that you can pass to the next generation.

Essentially, make your money work FOR you--not the big companies.

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