What’s it about?
7 Strategies for Wealth & Happiness (1985) sets out an encouraging approach to help you develop your full potential through discipline and action. Instead of giving get-rich-quick schemes, it reminds us that success is a direct result of our own efforts to improve ourselves. More than that, it shows that a fulfilling lifestyle is not just about wealth – it’s about getting rid of old ways of thinking and embracing a positive mindset
About the author:
Jim Rohn was an entrepreneur, motivational speaker, educator, and author. After achieving success in the direct sales industry, he began conducting seminars and personal development workshops across America and worldwide. He was the author of numerous self-help books, such as The Power of Achievement and The Art of Exceptional Living.
Setting clear goals will help you control and build yourself to reach them:
Remember the last time you achieved one of your goals or crossed an object off your to-do list. What happened next? Undoubtedly, another responsibility cropped up to take its place.
While this is frustrating, it’s ultimately a great thing. You don’t need to hold just one goal at a time because later, when you finish it, you could become lost and without an aim.
Think about the Apollo spacemen after they returned from their life-changing journey to the moon. Unhappily, astronauts have fallen into depression because they no longer had anything to experience anymore. As a portion of their necessary preparation, astronauts develop goals to work toward after completing their missions.
You should have goals too. To start, put aside time to achieve them. Try the journaling activity which helps you imagine your long-term intentions and gets you to reach them.
“Unless you have goals, it is impossible to manage your time effectively.”-Jim Rohn
Self-led education is the key to wealth and personal improvement:
In most fields, people don’t expect to attain victory without ages of learning and training. Take medicine, for example. No one would try a triple bypass operation without first learning and training about the human heart for years. How could anyone assume to become wealthy and successful without studying something, say, financial management or running a business?
Happily, you don’t have to waste time and cash at a college to study how to increase your property. Alternatively, you can do it within self-led education.
One way to get ignited is to learn from your everyday life activities.
A different way to practice self-led education to distinguish success tactics is to draw on knowledge from texts, videos, and audio records. In particular, explore the adventures of victorious people and how-to books; Think and Grow Rich by Napoleon Hill as an example.
While you’re viewing successful people’s advice, you’re obliged to have questions. So why not ask those points to someone who can provide you with satisfying answers?
The more time you spend in the nearness of successful people, the more beneficial. So, try auditing talks or seminars to benefit from the presence of people you admire. Notice the small gestures, like the way a businesswoman shakes hands. If you can identify attitudes that successful people share, you can practice these in your own life.
Whatever way you decide to gather knowledge, it’s something worth spending a little time and money on. Set aside at least 30 minutes a day for education and a small portion of your salary every month.
Don’t limit to your growth and raise your value:
How many times have you assumed that “I can’t be on time; that’s just the way I am?” Or “I can’t help that I’m a disordered person.”
As common as comments like these are, they damage our self-esteem and make us feel like we’re unable to defeat our habitual tendencies. But in fact, your self is one of the few things you can change. And by improving yourself, you increase your worth as an employee, friend, or spouse.
Unfortunately, many people look for ways to better their statuses while avoiding the task of improving themselves. For instance, to get a pay raise, you might the idea negotiate with your boss or even go on strike. But ultimately, these arrangements can only get you so far, and soon you’ll be itching for another raise. What if, instead, you increase your value to the company through higher potency, better performance, and new skills? It would make your manager want to raise your salary. Even better, the skills you’ll gain in the method might prove valuable far beyond your current job.
To increase your value, you should first work on eliminating barriers to your personal development.
One of the most harmful barriers is procrastination. After all, self-improvement is about setting and achieving goals for yourself – but it’s too easy to put off the most challenging aspects of working toward those goals for the distant future. And because the tasks you procrastinate over accumulate, it doesn’t take long to fall behind on your plans.
Two other barriers to self-improvement are blaming others and making excuses. When something goes wrong, it’s much easier to point the finger at someone else than accept that a problem lies within you. But when you do this, you’re hindering your improvement. After all, if the failures you experience aren’t your fault, you have no reason to take responsibility and ensure they don’t happen again.
As you’re working on improving yourself, remember that it’s often best to do it one little step at a time. Let’s say you want to start being more punctual; for instance, try setting your alarm a few minutes earlier each day. Before you know it, you’ll have time for a leisurely breakfast in the morning without needing to rush out the door!
Try taking on these small challenges in any area you want to improve. Your successes will encourage you to endeavor even more challenges and to clear even more significant hurdles.
By changing your attitude towards taxes and adopting the 70/30 rule, you’ll become both happier and wealthier:
For most people, the word “taxes” conjures up a storm of dreadful images:
- Endless forms
- Calculations of expenses and deductions
- Parts of your income vanishing away
Even worse, taxes often feel like an injustice. You may find yourself thinking, “Why shouldn’t I be able to keep all my hard-earned money?”
At the beginning of his career, the author asked himself this question too. However, his mentor, Earl Shoaff, urged him to become a happy taxpayer. Why? Because, he argued, your attitude toward money is just as important as how you spend it. A more positive outlook can help you feel less frustrated and more in control of your finances, so you won’t feel the need to curse the government for stealing your money.
To get into this mindset, think of paying taxes to contribute to society and help the government improve life for everyone. In exchange for some of your income, you’re given safety, freedom, and opportunity.
Ready to take this shift in attitude one step further? Try looking at the bright side of all your expenses! For example, whenever you have to buy something, you’re putting your money into circulation and contributing to the economy. And whenever you pay your bills, you’re reducing your debts and liabilities. Once you feel better about paying your taxes, it’s time to turn to your net income. Here, you should adopt the 70/30 rule.
The concept is simple. You can spend 70 percent of your monthly income on needs and wants like rent, food, and entertainment. But before you spend any of that money, divide the other 30 percent as follows:
- First, donate 10 percent of your income to charity to give back to your community and help those in need.
- Then, put another 10 percent into savings so that you can accumulate wealth over the years.
- Finally, invest the last 10 percent into creating assets. There are traditional ways of doing this, such as investing in property. But there are also non-traditional approaches, such as monetizing one of your hobbies.
By adopting the 70/30 rule and shifting to a more positive attitude, you’ll no longer have to dread parting with your hard-earned money.
“Poor people spend their money and save what’s left. rich people save their money and spend what’s left.”-Jim Rohn
Allocate your time wisely through careful planning:
What’s your approach to balancing work and life? Are you a drifter, someone who is resistant to any restrictions on his time and only willing to take on temporary jobs? Or are you a workaholic who devotes every waking moment to your career? Maybe you’re in the middle, working nine to five but unwilling to take on projects involving more extensive time commitments.
As you may have predicted, these ideals aren’t approachable. You don’t have to choose between success with an excessive workload or mediocrity with enough time to relax. In reality, you need to make time for every aspect of your life – working hard, spending time with family, and even doing nothing. When you dedicate too much time to one of these areas, your lifestyle becomes lopsided, unsustainable in the long run.
Take a salesperson who decides to start his own business. He gets his idea off the ground, but before long, he realizes that he spends much more time in the office as a CEO than he ever did as an employee. He arrives at work earlier and leaves later than even the janitors. Soon, he decides that running his own company isn’t worth it and goes back to a regular job.
So how do you ensure that your time remains in balance and that you used it efficiently? Getting and staying organized is critical. Start by creating a project book or a binder with tabs inside. This handy tool will allow you to store important information all in one place, so you’re not wasting hours looking for the document you need.
You can use your project book in whatever way suits you best. For example, if you work with people, you can create a tab for each person and note information about their performance, strengths, weaknesses, or family history. Then, you can refer to it whenever you need it, like during performance reviews.
Another essential time management strategy is planning each day before it begins. How will you ensure that your time is balanced and on track to meet your deadlines if you do not refer to your original plans? This is why you need a calendar with lots of space to write out your schedule for each day of the week. Be sure to make room for some “do nothing” time each day!
It takes considerable discipline to get organized and stick to a schedule every day, mainly if you’re used to a more calm time management style. Putting in the effort will help you not sacrifice any aspect of your life in favor of another.
Be sure to spend your time with the proper people:
Let’s face it: our friends tend to influence us, whether or not we realize it. If you hang around people who are careless with their money, for example, you might find yourself spending frivolously as well. Or if your friends go out to see sports matches every weekend, chances are you’ll end up tagging along.
Those scenarios might not sound so bad – but what if your friends have habits that are more destructive than these? In that case, you might end up adopting similarly harmful practices. For instance, if you surround yourself with liars and cheaters, you might begin to see their behaviors as the norm. And before you even know it, you might find yourself lying and cheating too.
It’s hard to admit that our friends could be bad influences. But if you’re honest with yourself, you can deal with these relationships before they do any severe damage.
Start by thinking about the primary relationships in your life, and ask yourself a few fundamental questions: With whom do you spend your time? What are they doing to you? Are these associations okay with you? Be honest, and don’t dismiss the powerful influence your friends and acquaintances may have on you.
If you’ve answered these questions and identified some less-than-stellar relationships in your life, you’ll need to make some difficult decisions about how to continue.
If you’re dealing with destructive people, one option is to disassociate from them entirely. Or, if that’s impossible, try limited association – spending as little time with them as possible. While you’re doing that, you should also make sure you aren’t spending excessive time on casual relationships that aren’t contributing anything valuable to your life. While you might enjoy spending a few nights a week at the bar with your friends, for example, this habit eats away at your time.
After you’ve culled the negative relationships from your life, the next step is to make the most positive relationships. Here, you want to have an expanded association. That means spending more time with people who are disciplined and determined to succeed – anyone whose mindset will affect you positively.
The best way to broaden your circle is to get involved in your community. For example, join a committee, and you may find yourself invited to play tennis with some influential people in your city.
Learn how to enjoy life no matter the size of your bank account:
We often hear stories of ultra-rich celebrities and business people who are deeply unhappy despite their wealth. How is that possible when they’ve reached the peak of success? Unfortunately, although these people have amassed huge fortunes, they likely never learned how to be satisfied with what they have.
While many people already agree with the adage that “money can’t buy happiness,” they still assume that more money will make them more confident, charismatic, and generous. But in reality, money can change neither your character nor your satisfaction with life. If you’re unhappy and insecure now, chances are those qualities won’t just disappear if you become wealthy.
For instance, imagine someone who tends to drink too much at social gatherings. What would happen if that person’s wealth increases? He wouldn’t just stop drinking. Likely, the extra money would just let him buy limitless amounts of alcohol, worsening his habit.
Fortunately, there’s a bright side to this theory. If you develop a fulfilling lifestyle now, it will stay with you regardless of your bank account size. And a powerful way to increase your fulfillment is by shifting to a two-quarter mentality.
The author’s mentor once told him to imagine getting his shoes shined to illustrate this way of thinking. The person giving the shine has done an excellent job, and now you must decide what to tip him: one quarter or two. Which one will make you feel better in the long run?
If you tip one quarter, you’ll save money, but you’ll probably end up feeling like a bit of a Scrooge afterward. By being generous and tipping two quarters, however, you’ll feel prosperous and confident.
A man who attended one of the author’s seminars got inspired by the idea of opting for generosity over stinginess. In the past, whenever his daughters begged him for money to buy concert tickets, he would either say no or give in very reluctantly. He got stuck in a one-quarter mindset.
However, after the seminar, he surprised his daughters with tickets to see their favorite group. This generous two-quarter decision ended up benefiting both the girls and their father, who was rewarded by seeing his children’s joy and excitement.
So, adopt a two-quarter mindset, and you can feel rich without necessarily being rich. And if you decide to start being more generous now, think of all the good you’ll be able to achieve when you’re wealthier and more successful.