May 22, 2019
Australian property markets are in a slump and the media is full of stories and headlines full of doom and gloom.
Is the media just reporting on the property market downturn? Or are they helping to create it?
That’s one of the topics I’ll be discussing with Dr. Andrew Wilson in this week’s Property Insiders chat.
Listen in to get a better idea of what’s going on in the background in the media and in our property markets.
But first, in my mindset session, I’m going to share with you five mistakes that a lot of people make that prevent them from becoming financially free.
While getting financially free is about the money, it’s more about the money habits that many people have.
You might have them yourself or know other people who have them. These habits are what stop people from achieving financial freedom.
The top five ‘financial mindset mistakes’ you’re probably making
Becoming financially free is about your habits.
It’s not about getting lucky at the Casino one night or a spectacular financial investment that went your way.
It’s about making good decisions, day in and day out, and continuing to make those decisions over a long period of time until it becomes a habit.
This means following a few rules on what we allow ourselves to think and dwell upon.
If you can avoid adopting any of the following common mindsets, you’ll already be ahead of the game:
MINDSET 1: Relying on a wage to get wealthy
MINDSET 2: Thinking investing is too hard
MINDSET 3: Thinking money just causes problems
MINDSET 4: Thinking you don’t deserve it
MINDSET 5: Being afraid of making a mistake
Ask yourself: have you ever fallen into one of the above mindsets?
I bet it’s held you back.
The good news is that there’s always time to change your mindset. Money doesn’t discriminate – it doesn’t care who owns it. So why not have your share?
Is the media creating the current property downturn?
We’re suffering a crisis of confidence and in my mind, the media has a lot to answer for.
Is the media reporting consumer sentiment or is the media’s negative sentiment creating a crisis of confidence?
You can’t buy a paper or go online without a headline warning us that property Armageddon is around the corner.
Sure, there’s a credit squeeze, but the average consumer has lost their confidence because of the media.
And the media keeps looking for experts chasing a headline.
Listen as Dr. Andrew Wilson chief economist at and I discuss:
The rabbit hole of Google – you’ll keep reading articles that confirm what you just read.
Links and Resources:
Metropole Property Strategists
Dr. Andrew Wilson – MyHousingMarket.com.au
Some of our favourite quotes from the show:
”You won’t truly get ahead by working for somebody else.” –Michael Yardney
“True wealth isn’t just about how many properties you’ve got or how much money you’ve got, but there’s no doubt that having money helps get rid of a lot of your troubles.” –Michael Yardney
“Don’t compare your Chapter One to anyone else’s Chapter 12.” –Michael Yardney
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