Real life, not learned in school

  As a longtime entrepreneur, when I think of my previous success, I found that keeping my eyes open to all opportunities and taking calculated risks were key. Those things would have been impossible to do if I was operating out of a scarcity mindset. An article from Very Well Mind describes a scarcity mindset as a persistent feeling that there are not enough resources. This can be time, money, etc (Blanchfield, 2022). If I gave into thoughts that there are never going to be houses available, I would never find my clients their dream home. A scarcity mindset can make people resistant to venture out and make money. This article will describe a scarcity mindset in detail and the impact it can have on your life. Scarcity changes our brains  Developing a scarcity mindset in this world is completely valid because many struggle to meet their basic needs, daily. The article from Blanchfield explains research has found that growing up in poverty has been linked to changes in the brain...

                                                                                                                                                                                           One of the first steps toward financial freedom is the ability to manage your own finances (cash flow, spending and saving habits). A previous post on this page titled “How to Double Your Savings: The Rule of 72” describes how you can use compound intere...

                                                                                                                                                                                                                   Financial literacy is essentially having skills that develop your understanding of how money works-for example, how to earn, spend, and grow it. To be financial...

     The article posted last week titled “Combating Inflation with Compound interest” describes how inflation impacts the value of the money in our savings accounts and how compound interest can help reduce that. The article explains that investing your money in an account with compound interest would double the amount money made over time because you are taking advantage of the interest you earn along the way and on money you deposited.       Taking advantage of compound interest is a great way to increase the value of your money over time. It allows you to account for changes in inflation rates and potentially double your initial investment. According to the book “How Money Works: Stop being a sucker” by Tom Mathews, Steve Siebold, and Andy Horner a typical savings account is likely to have an interest rate under 1%. The same book provides a mathematical formula to help calculate how much time it would take to double the money you have invested based...