You Need To Know 7 Unbelievable Ways How Confidence Makes Wealth
Are you insecure? Your lack of confidence prevents you from building wealth.
Are you single and ready to take control of your financial future? You've heard about saving money, investing, and working hard and smart. While those are all true, something is missing.
The missing piece is confidence.
I used to be insecure. I was unsure of myself. I compared myself to outgoing people. It wasn't until I began playing to my strengths that I began to develop confidence and slowly see my life change for the better. I worked to improve my writing, which led me to discover copywriting. Copywriting and digital marketing overlap. Both are high-paying skills that I taught myself over time. If I can transition from self-doubt to being self-secure, so can you!
These are seven ways how confidence makes wealth that you need to know about!
Problem: Your Fear And Self-Doubt Keep You Broke
Most people want more money, but very few ever get it. Why? Fear and self-doubt hold them back.
These are some common ways fear manifests in your finances.
You Never Ask For A Raise
You stay at the same salary for years. You're afraid to negotiate. You've convinced yourself that you should just be grateful that you have a job. You toil to make ends meet each month. You know you're underpaid.
You fear asking for a raise. You remain quiet. You stay quiet while less experienced coworkers receive promotions.
Robert Half found that:
"70 percent of senior managers said they expect some back-and-forth on salary."
Managers respect employees who know what they're worth. Companies like confident employees. Confidence then shows up in the company in its employees. They want self-assured employees.
Stop being afraid. Ask for that raise.
You Avoid Investing
You keep your life savings in a standard checking and savings account. You watch as inflation erodes your purchasing power each month. Your checking and savings accounts don't beat the actual inflation rate.
You tell yourself you'll start investing "when you know more." That day never comes. You overwhelm yourself with information instead of taking action by opening up a retirement account and investing in the stock market.
You're missing out on the long-term compound interest. You compound the value of your money by investing in the stock market.
Stop putting all of your money in a savings account. Begin to invest in the stock market.
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You Never Start A Side Business
You have lots of ideas for a side business. Negative thoughts paralyze you, telling you things like, "What if no one buys?" or "What if I look stupid?"
You watch as other creators with online businesses launch imperfect offers. They're making money while you're always "perfecting" your plan in private. You're perfectionism addiction holds you back.
Every successful entrepreneur started before they were ready. Their confidence grew through actions, not endless preparation. Each post helped them grow. Every new subscriber they got. Every new product or service they sold to their audience and customers made them more confident.
Work to build your side business this year.
The Real Cost Of Self-Doubt
Every time you hesitate and procrastinate, you lose money. Each time you choose to play it safe, you miss opportunities.
Luck does not build wealth. You create wealth by making confident and intentional choices.
Doubt is the wealth killer. Confidence is the wealth builder.
Change your mindset to build self-confidence.
Key Point: Fear keeps you financially stuck, while self-confidence creates many new opportunities to make money.
Solution: How You Can Build Unshakable Confidence
Confidence isn't something you're born with. You can build confidence.
Here are the four steps to start building self-confidence.
Step 1: Change Your Negative Self-Talk
Pay attention to how you speak to yourself and treat yourself. Do you tell yourself things like "I'm bad with money," "I could never do that," or "I'm an idiot!" Guess what? The words you say and what you think about yourself become self-fulfilling prophecies.
What you say and think about yourself becomes a self-fulfilling prophecy.
Work to replace any negative thoughts with positive ones, such as "I'm learning to manage money better every day," "I'll figure this out step by step," and "I'll be financially free one day."
Write down three wins each day. Tiny wins count! Start by making them easy and simple. Start to focus on progress, not perfection.
I had a fixed mindset for a long time. I developed a perfectionist mindset in college. It took me a while to finally commit to writing. I tried for too long to be like the people who succeeded on YouTube despite lacking the charisma and personality for audio and video platforms. After I hit rock bottom, I called myself an idiot and worse things. It took me a while to crawl out and develop an abundance mindset, but I did. If I can do it, you can too.
Step 2: Take Small Actions Every Day
Start with small, low-risk actions each day that prove to yourself you can accomplish difficult tasks. Ask for a discount on your bill. Negotiate a higher rate for a freelance gig. Create a test account on the platform where you want to create content to familiarize yourself with how it works.
Open a brokerage account with just $100. Buy a single share of stock or an index fund. Work to slowly max out your retirement account. Your goal isn't to get rich overnight. That's impossible. You're proving to yourself that you can start.
Share your goals with one supportive friend. See a counselor who specializes in career development. Accountability builds confidence. Accountability forces you to follow through.
Step 3: Surround Yourself With Winners
Review your circle of friends. If your friends constantly complain about money but never take action, their fixed mindset is holding you back.
Look for communities where people discuss investing, entrepreneurship, and financial growth. You can find these types of communities where you live and online.
Follow confident and successful people on social media and online. But don't compare yourself to them. Make a point to develop their positive financial habits and adopt their can-do attitudes. You'll notice that your mindset and habits will slowly start to shift for the better.
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Step 4: Learn Just Enough To Take Action
You don't need a finance degree. You don't need to be a financial planner or an accountant to start investing.
Read one book on personal finance and wealth-building a month, such as The Millionaire Next Door. Make notes of the key lessons from the book. Take action to apply them to your finances.
Find a side hustle that works with your skills and strengths. Focus on learning just enough to get started. If you want to sell digital products, learn how to set up one platform, such as Gumroad. Focus on growing on one or two social media platforms that play to your strengths. It's impossible to be everywhere.
Action teaches you more than academic theory ever will. Every mistake is direct feedback, not failure. Mistakes are learning opportunities for what to improve. Self-learning and action are requirements for building wealth.
Key Point: Confidence grows when you take small, daily, consistent actions.
Why This Matters: Confidence Creates A Richer Life
Wealth isn't just about the number of digits in your bank account. Wealth is about having more freedom, choices, and happiness.
Here's how confidence can change everything for you!
1. You Make Better Decisions
When you're a confident investor, you don't sell stocks when the market dips. You focus on long-term growth.
When you're a confident employee, you don't accept toxic work environments or ineffective managers. You know your skills are valuable. You'll look elsewhere. You'll ask around in your industry for a referral to a good company that is hiring.
Confident entrepreneurs don't give up after a setback. They persevere. They adapt. They find solutions. They try new approaches. They never give up. Each time, they receive feedback. They learn what to do better next time.
2. You Attract Better Opportunities
You're self-confident. You believe in yourself.
Confidence is attractive because it sets you apart from those who are insecure. Confidence makes you memorable in job interviews. Confidence sets you apart at networking events.
You speak about your goals with certainty. You have the self-confidence to believe that you'll achieve them. You set yourself apart as a leader.
People will want to work with you. People will want to introduce you to connections. People will want to meet you once you've made a name for yourself. People will want to collaborate with you because you're open to working with others. You have a vision. You don't think small.
People come to you with opportunities. You make your own opportunities. You take action and calculate risks that most people fear by seizing opportunities. These opportunities pay you dividends in the future. Your opportunities compound. Your money starts to compound.
Why?
You took risks by accepting opportunities most people reject.
3. You Build A Life You Love
When you stress over every cent, you'll miss out on the fun that you can have on your journey to increasing your net worth.
Money goes to those who treat it best. Money loves self-confidence. Money goes to the people who know how to grow it.
You prioritize saving and investing for your future. You don't overspend. You know how to occasionally reward yourself for working hard and smart.
You know that you're in a financial situation to cover the costs of your necessities. You have money saved away to cover the cost of a sudden medical emergency. You're saving money to buy a house with cash. You're consistently investing in the stock market. You're maxing out your retirement accounts each year. You're working to build an online business.
The best part?
You're looking forward to your future. You're confident that it is bright.
The Ripple Effect Of Confidence
When you're confident, three things will happen:
Your friends and family will notice it. They'll start to believe in their own growth and potential.
You'll inspire others to take control of their finances. You'll create a positive circle of support for those around you and online. You'll have people to hold you accountable to the standard you've set for yourself.
Your financial choices today can help build a lasting legacy. If you ever marry and have children, you can leave money behind for your family after you die.
Key Point: Confidence improves every aspect of your life, not just your bank account.
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Summary
You don't need a partner, a miracle, or a lucky break. You can build wealth solo. You just need self-confidence and action.
My challenges to you:
This week: Have one uncomfortable money conversation about your finances. Ask your employer for a raise, negotiate a bill, or come up with a side hustle idea.
This month: Open an investment account with $100. Set up automatic contributions. Every $20 a week adds up.
This year: Commit to learning one wealth-building skill. High-paying skills include accounting, business, copywriting, digital marketing, and stock analysis. Make it a habit to learn about the topic daily and find ways to apply what you've learned.
The more you act, the more confident you'll become. And the more confident you are, the more wealth you'll create.
Key Point: The fastest way to build wealth is to start before you feel ready because confidence comes from action.
Disclaimer: This content is for educational, entertainment, and informational purposes only. This is not business, financial, investment, or any advice. I write online about topics that interest me. I make mistakes just like everyone else. Always consult a professional before making health, life, finances, investments, taxes, or legal matters.