Having a Rich Dad mindset is about focusing on the financial aspects of abundant thinking, rather than just the psychological. This involves analyzing how you view certain pertinent financial questions, and swapping a scarcity or deficit thought for an abundant thought.
1. “I can’t afford” becomes “how can I afford?” when abundant thinking is applied. This is because saying you can’t do something closes down possibilities and tells the universe that this option no longer exists for you.
2. “My kids make me poor” becomes “I want to be a Rich Dad for my kids” with abundant thinking. This is not focusing on the expense of having children, but on the duty to create a more secure life for them.
3. “I don’t care about money” becomes “money is power” when abundant thinking is applied. The idea that money is somehow “dirty” is exchanged for the acceptance that money allows a person to have more choices in life.
4. “Don’t take financial risks” becomes “take calculated risks” with abundant thinking. This is about trying to put your money to work whilst mitigating the risks involved.
5. “Pay myself last” becomes “pay myself first” with abundant thinking. This ensures that there is finance available for investments so further returns can be possible.
6. “The state will provide for me” becomes “I take responsibility for myself” when abundant thinking is applied. This counters entitlement thinking by teaching financial self-reliance.
7. “Academic literacy is important” becomes “academic literacy and financial literacy are important” with abundant thinking. This provides a firm grounding for the real world.
8. “I work for my money” becomes “my money works for me” with abundant thinking. This is about removing yourself from the “rat race” and accepting that you are responsible for your own destiny.
9. “Making money is important” becomes “managing money is important” with abundant thinking. This concerns the ability to establish financial education that lasts a lifetime.
10. “My house is an asset” becomes “my house is a liability” when abundant thinking is applied. Although this may seem the wrong way around, this argues that anything that drains your finances is a liability, as a mortgage does.