A Good Read
I have always enjoyed reading. My favorite reading subjects are history, philosophy, and sports. As I have gotten older I have wanted to gain more insight about investing, building wealth, and learning new skills. I always cared about generating wealth but I am willing to learn new methods. I recently purchased this book digitally and I really liked it. The author is A.R. Morton is a sock broker, soap dealer, and wealth builder. I am sure you have seen and heard books about that provide guides on how to make money and generate wealth. But I believe this book is very easy to understand. After reading it I believe any person that is willing to step out of their comfort zone, financially and reevaluate their money habits then the right opportunity will be on the horizon.
Early on Morton informs the reader of his struggles with poverty and disparity. Morton admitted that he endured stress due to his finances; and would indulge in overspending on money, food, and alcohol. Ultimately he was able to re-invent himself and reshape the trajectory of his life. Morton began research on changing his mindset on money and took action.
The first chapter entitled "Psychology of Money: Abundance vs Scarcity Mindset," Morton explained the difference between abundance and scarcity mindset. This is one way for an individual or a group to change their financial habits. Morton supports this assertion with this statement...
"A clear example would be an alcoholic spending their last dollar on booze, drinking to down their financial sorrows, never realizing that their alcoholism is what's causing the financial sorrows. This is called the scarcity mindset where people believe they don't have enough ultimately the world doesn't have enough around. (Morton 6)." I have struggled with the scarcity mindset from time to time but I don't waste money on alcohol. Like most people it goes to bills, groceries, and gas. If have this mindset you are only hindering yourself. It will not happen overnight but based on reading this book I have noticed that anyone can make new strides if you are willing to do so. Also if you have the resources but even if not try to find a way to obtain these resources.
In regards to the contrast with the abundance mindset. The abundance mindset manifests through work ethic, monitoring your money, developing new skills, and training to obtain wealth. The strongest asset that elevates the abundance mindset is lack of fear. When you lack fear on your path towards greatness your pursuits become relentless and strategic.
Toni's Final Thoughts: I just provided a brief summary from one of the chapters that resonated with me. I really do not want to spoil the book for you just purchase it. You will not regret it. As a millennial it is no secret that my generation has amassed debt due to higher education. But I believe changes can be made to eliminate debt and restore wealth for ourselves and our families. It will not be easy but there is no harm in trying. This book can be purchased at gumroad.com/doedoobs
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