Have you ever heard the saying…
“You are the average of the 5 people you spend the most time with?”
I heard that phrase the first time about 5 years ago when I read the Compound Effect by Darren Hardy for the first time (an awesome read if you’ve never read it!). I’ve paid close attention to this concept and observed it ever since!
There are SO many areas of life that this concept bleeds into – for better or worse.
If we aren’t careful, this can stunt us pretty dramatically! We also have to be careful to not BLAME our friends for our lives – it’s just something to be aware of and bring to consciousness and review. Sometimes the answer isn’t exactly what we want, but when you have awareness, you have CHOICES.
Financially speaking, there are 3 main areas where this concept can show up – and it’s something so important that I have to bring up!
1. Spending Habits
How you spend your time is how you spend your money. We are social beings, after all, and we usually surround ourselves with people that have similar interests and hobbies as we do.
If you have a lot of friends that are into outdoor sports, it’s probably likely that you spend a decent amount on outdoor sports! This isn’t a bad thing – don’t get me wrong. But if your friends are participating in activities that are out of your price range or perhaps even your values system, that’s where it can get dangerous.
So – just check in and make sure that the activities you’re spending time and money on with friends are ACTUALLY what you want to be doing and what you can afford.
2. Income Potential
They have done studies about this… and the amount of money your friends make and their ambition level absolutely is reflected in your income and ambition level.
Friends that truly believe in you and are going places themselves can motivate you to go further, ask for the promotion, encourage you to see your value and raise your prices, and so on! The opposite side of the coin is true as well.
If you want to raise your income, the best way to do so is to hang out with people who are going places and already making more themselves. They challenge your perspective and influence you around #3 as well.
3. Money Mentality + Beliefs
This is arguably the most important point to evaluate in your circle of friends, colleagues, and business partners (and yourself – but that’s a whole separate article!)
- What are they saying about money and success?
- What do they believe to be true about money?
- Are they abundant or scarcity-minded?
- Do they want to continue learning and developing to attract more money, manage theirs effectively, and grow it?
What your friends SAY and believe about money – consciously or subconsciously – rubs off.
At the end of the day, like attracts like.
When YOU become more positive and abundant, you attract more positive and abundant friends and business partners. The opposite is also true…
It’s not all about having MORE money or being rich. It’s about the type of life YOU want to have and the lifestyle you want to live.
This is just something that I think about often and it’s SO much fun to be around people that are abundant and help you to believe MORE in yourself and your abilities!
Liked this blog? It was written by WalletGyde’s #mindandmoney coach, Jordan Youngblade! Her philosophy is it‘s not always about having MORE #money – it’s about how you view and use your money. She will completely transform your money and LIFE through her process! Stay tuned, she will be sharing her expertise all month!