Prosperity Tips: 18 Ways to Increase Your Wealth

Are we headed for another recession? I don’t know. But, whether or not we are, the 18 prosperity tips below will help you to increase your wealth. Some you already know—but they’re worth repeating–, and a few might catch you by surprise.

1. Instead of focusing on trying to make money, put your time and energy into creating value for others. Remember that money is simply a medium for exchanging value. Stop focusing on the effect (receiving money), and start focusing on the cause (value creation).

2. Start a business as a way to share your passion, your talents, and your knowledge with the rest of the world. Ask yourself how you can express your talents in a way that benefits others.

3. Stop thinking of what you can “get” from others (how much money you can make), and start focusing on what you can give (how you can increase the amount of value that you give to others).

4. Do your work with love. Just as resentment poisons your work, doing your work with love adds more value to it. There’s a novel titled “Like Water For Chocolate” by Mexican novelist Laura Esquivel. The protagonist, Tita, is a woman who loves to cook. When she cooks, her emotions become infused into her cooking, affecting all those who eat it. Think of the work that you do in the same way, and make sure that you infuse it with love.

5. Look for ways to have a positive impact on society through your business.

6. During times of recession people cut back on the fluff and they become more sensitive to receiving genuine value. This means that if you sell fluff, you’ll do poorly in a recession. But if you’re providing genuine value you should do fine, even if the pundits are running around screaming that the sky is falling.

7. Stop looking for happiness outside of yourself—for example, stop thinking the following: “I’ll be happy when I have six months of expenses saved up in the bank, and when I can finally move out of this dingy apartment”. Instead, tap into the happiness that is already within you and let it flow from you through your work.

8. Be optimistic. Believe that something different from what has happened until now can happen.

9. Ask yourself the following question: When I imagine totally diving in and working hard to make more money, what thoughts pop into my mind that make me feel that I’m not going to succeed? These are your limiting beliefs; work on eliminating them.

10. Make a list of the reasons why you think that you’re not making as much money as you would like to be making. These are your excuses. Stop making excuses.

11. If you feel that you’re creating value, but you’re not making money, it’s because of one of two reasons:

a. Others don’t perceive what you’re offering as being valuable. They’re telling you, “That’s not good enough”, or “That’s not what we want.” You need to go back to the drawing board with that feedback and improve your offer.

b. You’re not doing a good job of delivering the value. For example, if you have a blog and you produce great content, but you have low traffic, you’re not doing a good job of delivering the value.

12. If people don’t want to buy what you’re selling—or they don’t want to buy it at the price that you’re selling it for—don’t take it personally. This is the marketplace responding to what you’re putting out there: it’s simply the laws of supply and demand playing out. Modify your offer accordingly.

13. In order to make more money, you have to feel that you deserve it. If you don’t give yourself permission to make more money, then, regardless of how much value you provide, you’re going to unconsciously look for ways to sabotage yourself. After all, people will go to great lengths to maintain consistency with their self-image.

Give yourself permission to stop seeing yourself as “the type of person who makes $20 an hour”, and start seeing yourself as “the type of person” who makes ten times that.

14. Over-deliver on a consistent basis. If people feel that $20 is a fair price for an eBook that you’re selling, sell it to them for that price. And add a bonus. Charge what you’re worth, but then give just a little bit more. That way, you’re adding to the value of the world with each transaction.

15. Start thinking in terms of the “opportunity cost” of money. Money that you spend today on buying those new shoes or that cute purse is money that you could have put to work for you.

16. If your income increases, don’t adjust your expenses accordingly. Instead, invest the additional money in your future.

17. Identify the things that matter most to you. What are you truly passionate about? What makes you come alive? Who are the people in your life whom you love spending time with? What truly brings you pleasure? What are the absolute must-haves in your life? What can you not live without? What do you need to thrive?

18. Elizabeth Warren—a Harvard law professor and consumer advocate– and her daughter Amelia Warren Tyagi wrote a terrific book called All Your Worth: The Ultimate Lifetime Money Plan. The authors recommend a 50-30-20 budget. That is, do the following:

• Spend no more than 50% of your income on “Must Haves”, or expenses that must be paid no matter what, such as rent or mortgage, utility bills, health insurance, property taxes, and so on.
• Then, 30% of your income can be spent on your “Wants”, such as Cable TV, new clothing, dining out, and so on.
• The remaining 20% of your income should be used toward building your financial future.

Please share your own prosperity tips in the comments section below.

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• 17 Ways to Feel Abundance During Economic Hard Times
• Seven Essential Ways to Create Wealth
• If You Had Five Dollars and Two Hours, How Would You Make as Much Money As Possible?
• 35 Powerful Beliefs About Money: From Donald Trump to the Dalai Lama
• Use Creativity to Double Your Way to a Million Dollars
• Three Unique Ways to Measure Wealth

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