How to generate wealth beyond your present income

For many people, becoming wealthy may seem impossible and completely unattainable, but that’s simply not true.

Most of us are taught to work hard, study hard, and acquire enough money to get by. But who teaches us about wealth creation? Who teaches us to send the money out to work for us?

Generating wealth beyond your present income never crosses the minds of most people. They are focused on looking for the right job that will provide them just enough money to survive short term with steady paychecks rather than becoming wealthy. They never ask, ‘What else is possible?’

How about you? If you don’t like your current financial situation, what do you do about it? Do you have the curiosity or the interest to explore wealth creation – how to attain it and the possibilities that come with it?

An income from your current job, no matter how large and substantial, doesn't necessarily equate to wealth. If you are not financially aware and if you don’t know what you can do with the money you have other than spend it, you will never become truly wealthy.

Do you believe you have what it takes to be wealthy?

Your current financial reality is the reflection of your points of view about wealth, money, and finance.

Your point of view and how you think about money determines the role money plays in your life. It shapes what you believe you can and cannot do with money, how much money you believe you’re allowed, entitled, and able to earn. How much you can and should spend, the way you utilize debt, how much money you give away, and your ability to invest with confidence and success.

For example, if you believe that you have to work hard in order to have money and you don’t have a sense of ease with having money, then you will constantly create that as your life. In truth, when you allow yourself to be bound by your points of view, you are limiting your capacity to generate greater wealth.

If this is the situation you are finding yourself in, there are some things you can do to change and create different possibilities. To escape the drudgery of living paycheck to paycheck, and the trap of the financial hamster wheel, you first need to be aware of your points of view that have prevented you from being abundantly wealthy, and be willing to change those points of view. Without such awareness, you’ll only be applying short-term solutions. There will be no real change.

Here are four strategies to generate wealth beyond your current income

1. Change your point of view about money and wealth. Generating true wealth begins with your mindset and the way you think about finance and about making money. Are you willing to see that trying to change your financial reality will be ineffective, until you change your points of view? If you don’t believe that you can generate wealth and have a thriving financial future then you won’t create it.

2. Knowing what you would like to create as your future. Everything you do creates your future. It is essential to be aware of what you would like to create as your life and your financial future. Once you know this, you will start to generate what is required to create your financial future. Ask yourself: “What are you creating? Are you happy to just work hard for your money? What do you really want to create as your future? Where do you see yourself being in 5 years’ and 10 years’ time? What would you like to achieve? By asking these questions, you will become aware of the information you require in order to achieve a thriving financial future.

3. Understand Finance. If you wish to create the wealth you desire, it is essential to educate yourself about money and finance. Educate yourself about what having money is and to be aware of your money situation. Do you have a clear picture of your personal financial position? The first thing you need to do is find out how much money you have, how much you owe, how much you spend, and how much you need to generate each month. You must know what it costs you to live the life you desire, so you can see what kind of money will be required to be generated. This is about looking at how things really are, instead of how you would like them to be.

4. Develop multiple revenue streams doing something that you love and enjoy. The people who love what they do and do it because it brings them joy are the ones who will make money at it. Please get that the energy you create from, is what creates and generates your life. So, do you know what it is that you enjoy doing the most? Become aware of the things that you are good at. It’s very important to be good at what you love to do if you would like to make money from it.