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Tuesday, April 10, 2012

8 Secrets of the Truly Rich by Bo Sanchez (part 1)

8 Secrets of the Truly Rich
By Bo Sanchez

8 Secrets of The Truly Rich
At last finally. Just completed reading Bo Sanchez book 8 Secrets of The Truly Rich. And of course I want to share here what this book is all about. In this book, Bo believed that we can gain material wealth and can be spiritually abundant at the same time. Another things in this book, he emphasize and encouraged the readers to have a bias for action in order to achieve our dream and be financially free.

Part 1: Below are the 8 Secrets of the truly rich by Bo Sanchez which he mention in his book.

1. Be totally responsible for your success. 
Bo explain and suggest, stop blaming others for what happen in your life. Stop blaming the government, your family or even God for your misfortunes. Blaming others can lead to inaction. Instead of looking at ways to improve your life. You are always just focusing on others fault and not to yourself.

Don't wait for prosperity coming from anyone. If you want prosperity, you have to create it by yourself. Your futures is in your hands. Start now by changing your habits and concentrate on the things what you can do to improve your life. Be totally responsible for your success.

2. Enlarge your psychological wallet
From the book, it says our mind has been conditioned to think, that receiving a lot of money is shameful and is against the will of God. We are uncomfortable to handle our money. When we receive more than what we are usually earned, we try to get rid of these excess amount as soon as possible.

Our parents have made you come to believe that you are poor. Subconsciously, you could be believing that money is bad, that rich people are evil, and that doing business is dirty. Subconsciously, you are avoiding wealth.

And because of these thinking and believing most of us are poor. Our minds has been programmed to resist money. Bo believes that our money problems are actually mind problems and psychologically we don't want to be rich.

How do we overcome this? 

As Bo suggested and advise. You must increase your money comfort zone. You must learn to be comfortable to receive money. One way is to visualize and imagine that we're receiving a lot of money. See yourself earning double of what you're earning now. Get comfortable with that.

Improve your self-image. At the end of the day, who you are doesn't count. It's who you THINK you are that determines your SUCCESS. Align your desires with the results that you want. Contradicting desires create contradicting results.

Rip out your negative family labels. After you've changed your mindset, it's time to enlarge your skills to match the size of your psychological wallet. Read financial books, ask financial mentors, read personal finance blogs, learn how to invest, start your own business, and reap the benefits of earning passive income.

3. Get rid of crazy religious beliefs
The number 3 secrets is get rid of religious beliefs that may be hindering us from accepting money and becoming financially free. More than we know it, our religious beliefs actually contributes in determining our wealth.

As Bo said, "Religious beliefs are so deep, so wedged to your core identity, you follow them even if you're not aware that you're following them."

Question 1. Have you romanticized poverty?
Religion can romanticize poverty. We can be led to think that to be poor is better than to be rich because God favours the poor. We believe that poor people go to heaven and that rich people go to hell. We must not think this way. Instead, Bo suggests that it is indeed true that God loves the poor and favours them but that is because God wants to accompany them in their difficult journey so that they can RISE FROM POVERTY. God doesn't want you to remain poor!

Question 2. Do you believe that the rich won't enter heaven?
God did not say that it's impossible for the rich to enter heaven. God also needs the godly people who will run businesses, give jobs, and bless the world with great services and great products.

Question 3. Do you practice the "I hate myself" Spirituality?
Some people remain poor because they believe they're being punished, they believe that's the will of God. When God sees us in poverty. He weeps. God doesn't want to see us suffer.

Question 4. Have you relied on God too much?
Bo Sanchez believes that "one of the biggest reasons why we don't receive God's blessings is because we rely on Him too much. We surrender to Him what He doesn't want us to surrender: our stewardship." Don't expect God to do the very things He expects YOU to do. Do your part.

Question 5. Do you disguise your laziness as faith?
Most of us wants God to hand us everything on a silver platter, to the extent that we do not exert enough effort to get what we want. Don't confuse faith with your laziness. Faith requires action. God usually uses the sweat, the effort, the tears and the struggle you go through to form your character and give you what you need.

Question 6. Are you obsessed with the Purely Miraculous?
Sometimes we get too obsessed with receiving miracles in our lives. We tend buy lottery tickets and ask God to let us win. Although God sometimes grant these wishes, it would be too much to ask of this everyday and simply do nothing in exchange.

Question 7. If your favorite phrase "Bahala na" (I live it up to you)?
Religion can cause us to rely on fate too much, leaving everything to God. We must learn to do our parts as well in order to allow God to do his miracles in our lives. God designed us to work and trust - not simply to trust.

Here you go, the first 3 out of 8 secrets of the truly rich. As you notice, the 1-3 secret deals about the right mindset of being truly rich. 4 - 8 secret deals about the way how to become rich which are in part 2 article.

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