One Dollar Allowance

I’m working with Keller Williams, and in a lot of ways, I see the parallel with Amway, which I also have experience with. People love to have their negative opinions about these companies, but both companies are teaching money management in a productive way if you’re coachable and paying attention. They’re teaching you to think outside the box.

I recently listened to Dianna Kokozska’s Ted Talk “Why Wealth Creation is the Ultimate Act of Love.” It makes the point that putting the effort in to being financially successful provides security, freedom, and opportunities for not only you, but others close to you in the event of a need. A phrase stuck with me: wanting money isn’t greedy; wanting money is strategic.

She shared how her son’s wife’s health was in trouble, and they needed money for a treatment. Not that everyone should have the ability to write a check for $35,000 on a whim, but do you have the ability to manage a crisis? Are you learning from others around you who have been successful? Are you keeping an open mind and actually making the attempt to build wealth?

Choose to be around people who challenge you. Look at your closest 5 people; are they where you want to be in life, or could you find a sphere of influence that can challenge you and teach you how to make money?

VICTIM MENTALITY

She quickly touches on the victim mentality. I see this around me at work often. People who seem to always have a crisis to manage. It’s in your head, and you’re focused on the negative instead of creating a positive outlook to be more productive with your money. Are you stuck in a spiral of “why does this keep happening to me,” or are you finding a path forward? Sure, we hit rough patches and things go wrong. The path forward comes in your decision as to whether you’re going to let these issues define you or if you’re going to find a way to make things better.

I have a family in one of my rentals that has both parents working blue collar jobs. He works in a kitchen and she usually works reception type jobs. I’ve known them since 2016. At that time, she delivered her 3rd child really early (I can’t remember, but it was like 30-32 weeks). There were extensive medical bills. They taught their children to work hard and to respect others. They had their own medical challenges. They lost several jobs over the last 9 years. They’ve had car trouble, making it a challenge to get to work. They ALWAYS find a way forward. If the car doesn’t work, they figure out uber and buses. If they don’t have money to pay bills, they tap into resources. They take initiative to find ways to get help with rent. I see a few splurges in their home, but they always seem like something they really appreciate. It’s not an excess of things that they’re spending money on. They communicate their challenges and let me know if something they’re working on is going to take more time. The rent they pay me is significantly under market value for that house, but I can’t bring myself to raise the rent that quickly or force them out to get it re-rented. They work so hard and are raising their kids to be resilient, and I just appreciate it so much. That’s the type of person who does not have a victim mentality.

While their efforts aren’t yielding them an extensive savings account or the ability to write a $35,000 check, they keep moving forward. Each set back is a lesson for them. They’re learning and growing. They’re not blaming others. They don’t tell me it’s someone else’s fault they don’t have money to pay rent on time.

POSITIVE APPROACH

You can be positive without being unrealistic. Optimism looks like focusing on the good in a situation, expecting a positive outcome, and approaching challenges constructively rather than ignoring them. There are many studies out there that will tell you having a positive thought process will lead to better stress management and overall well-being. It involves self-talk, reframing negative thoughts, practicing gratitude, and believing in your ability to overcome difficulties, fostering hope and improved health. 

If financials are a struggle, plug in with someone who is doing well. Surround yourself with those who are meeting the goals you have for yourself. By being around these people, you will pick up on their thoughts and actions and find a way that you can implement some of those actions in your own life to start seeing success.