The power of mindset in personal finance and life

‘The Man who says he can, and the man who says he cannot. Both are correct. Source: Confucius, a Chinese philosopher whose teachings became integrated into Confucianism, which taught personal morality and correctness of social relationships.

- CORRIE KRUGER

We all accept that people’s circumstances and resources play a role. A person’s mindset plays a significant role in his/her life. Thus, what you believe is true leads you to act in one way or another, which eventually determines what happens in your life.

In South Africa, two out of three children do not grow up in the same household as their biological fathers. This phenomenon brings with it many disadvantages in growing up and in a person's development. But no setback must be seen as permanent; it is just something that one can and must overcome. Every individual must ask him or herself where in the following hierarchy they find themselves.

Ten percent: I will not.

Twenty percent: I do not know.

Thirty percent: I wish I could.

Forty percent: I want it.

Fifty percent: I think I might.

Sixty percent: I might.

Seventy percent: I think I can.

Eighty percent: I can.

Ninety percent: I did.

One hundred: I am.

A mindset is a set of beliefs that you have about yourself and how the world works. In general, your mindset is the foundation of your behaviour. An example of a set of values one can form his life around is the Freedom Charter adopted in Kliptown, on 26 June 1955.

“We, the People of South Africa, declare for all our country and the world to know: that South Africa belongs to all who live in it, black and white, and that no government can justly claim authority unless it is based on the will of all the people.