Wealth-building Secret #1: Spend Fearlessly, Not Indiscriminately

Matthew R. Harris
Jan 17 · 8 min read

So, you want to be wealthy, right?! Of course you do. We all do.

If you want to be wealthy, then you must learn to do one thing really, REALLY well.

You must learn to spend fearlessly.

Say what?!?! I’m telling you that if you want to get rich and begin building wealth, you must spend more?!

It seems counter-intuitive, right?! And it is. That’s the point.

Most of the population lives paycheck-to-paycheck and they are not wealthy. In fact, most of the population doesn’t have enough saved to last more than a month or two without a job. Crazy, huh?

So, to become wealthy you have to go against the grain and do exactly the opposite of what most people are doing. This includes the way you think about money, but, this blog is primarily about changing your spending habits.

You must spend money, fearlessly, as if you are already wealthy.

I’ve always been obsessed with the principles of acquiring wealth. I’ve spent countless hours reading, studying and connecting with wealthy people to uncover secrets that would help me become wealthy myself.

I’ve always been fascinated with wealth and have always believed that it was very attainable. But I also knew that it was something of a mindset. I knew I had to begin thinking differently if I ever wanted to drink wine I couldn’t pronounce and have a mahogany bookshelf in my house… (I’m kidding, sort of).

Here are the questions I’ve been intently focusing on over the last decade or so:

1) What do wealthy people do differently from the average person (i.e. saving and/or spending habits)?

2) How does a wealthy person think (i.e. their mindset)?

3) What is a wealthy person’s relationship with money (i.e. what is money to them)?

This has been an obsession of mine for quite some time now. I was very fortunate to begin my career in the world of financial planning. I had over 300 of my own clients, some very wealthy, some not so much, but overall, it gave me insight into what actually works financially, and what doesn’t.

In that profession, I had intimate access to tons of very financially successful people. I got to peek inside the minds of these wealthy people to see their “secrets” firsthand.

My findings were incredible, yet very simple. Everything they did, seemed the opposite of what I would have guessed. I’ll dive deeper into that in a minute…

…But, before I go any further, I want to address the word, “wealth” and what it means. I know, I know, it seems like such a subjective term, right? Or is it?

I think it is in some respects, but I want us all to agree on a definition of wealth. We all see wealth differently and that’s ok. We all have different backgrounds and a different vision for the future.

Maybe wealth, to you, is something like the scene from “Wolf of Wall Street”, where Jordan Belfort is boarding his private helicopter about to lift off of his yacht in the Caribbean. That’s got to be wealth, right? Or even the couple hundred thousand dollars he was regularly spending on dinner [ridiculous, right?], surely that’s wealth…???

If this is what you envision as wealth, then I would agree with you [to an extent].

Lavishness is certainly an (aspect) of wealth. People who have developed a confidence with respect to money are much more likely to spend fearlessly, which is the first great secret to wealth-building.

But, spending fearlessly can’t come from a position of recklessness, it must come from a position of strength and unwavering faith (more on this in a minute).

Many people equate wealth to money, but they are not necessarily synonymous. So, my question to you is:

Can you be wealthy without money?

You obviously can be broke without money. But, what does being “broke” really mean?

Let me pose the question differently:

Can you be broke WITH money?

The answers are: yes, it’s a mindset, and yes, respectively.


Wealth is a mindset

To become wealthy, you must think like a wealthy person.

You must exclusively entertain thoughts of wealth, abundance and prosperity. Virtually every financially successful person I have met or studied would confirm that adamantly.

Wealth, simply put, is a creation of the mind. You can trace every great fortune to a specific idea (excluding monarchical expropriation or any sort of wealth attained by force).

The origin of every great fortune began in somebody’s mind, with a simple idea and its execution.

Every great fortune accomplished a very similar feat, simply making life easier or better for somebody (or lots of people) and providing value to the world in some way. So simply put, to achieve a greater status of wealth, you must provide more value to the world than you are today.

Now, being the salesman I’ve always been, I am constantly anticipating objections. You might say that some people have become “wealthy” without really providing value to the world (cough, cough, Paris Hilton, cough). Yes, you’re correct in saying that some people have inherited “wealth” or have obtained it by force (criminals) or through some sort of expropriation. But I would argue that anyone who attained unearned riches, whether by force or by inheritance, obtained money, not wealth.

Therefore, having money is not necessarily a product of having provided value to the world. It can simply be a function of great financial planning and wealth transfer, not necessarily personal responsibility. Now, if somebody receives a large inheritance and multiplies it many times over, they have proven themselves worthy of the fortune they received, but I digress. (That’ll have to be another separate blog).

So you can have money and not be wealthy. I know what you’re thinking — BUT, HOW?!

Think about the lottery winners of the world. They obtained money by chance, they didn’t earn it. What usually happens to them? Well, most of them are worse of financially in 18 months or less, than they were before the big pay day.

So, having money doesn’t make you wealthy. You must also have the mindset. To take that a step further, you must “feel” wealth — it’s like an emotion, or better yet, a state of consciousness.

Wealth is exactly that. It is a feeling that can be taught. It’s a very specific way of performing your daily rituals. It’s a lens through which you view the world. It’s an opportunistic mindset.

People who are “wealthy”, especially by my definition, never fear loss.

They never fear running out of money. Ever. Never, ever, ever, EVER.

They know, with 100% certainty, that they can go out in the world, provide real value (i.e. make someone’s life easier or better). Which, in return, attracts compensation.

I believe that in direct proportion to the amount of value you provide, you shall eventually be compensated.

The world seeks balance. When you go out and provide value to somebody, you create an imbalance in the world. The world, in return, seeks to adjust that imbalance through some form of compensation. This is how wealthy people are always finding ways to get paid. They are constantly tipping the scales in their direction. They go out of their way to provide value to everybody they meet, in some way, shape or form.

That leads me to the first real wealth-building secret that I want to expose, which is to spend fearlessly!


To Build Great Wealth You Must Spend Fearlessly

This means that you never get buyers’ remorse. You never regret spending money. You pay for your friends’ meals. You buy whatever you need. In fact, you buy whatever you want. You are never afraid of your supply running out. You have an internal self-confidence that understands the principles that exist in the world.

Helen Wilmans, author of Conquest of Poverty, says, “I would not be afraid to spend the last dollar I possess in property or money, for I know that more would come to me.”

This is a state of fearlessness that must be achieved to become wealthy.

So many people curtail expenses, waiting desperately for their next paycheck and expecting something else to go wrong, but this is simply a form of fear and small thinking.

It’s also the exact opposite of what you SHOULD do.

It’s sometimes unavoidable for thoughts of limitation and poverty to creep into your mind, especially if you have had an unhealthy relationship with money in the past, but if you notice these thoughts surfacing, squash them.

Don’t entertain them.

Replace them immediately with thoughts of wealth and abundance.

To build great wealth, you must believe that you are a huge asset to the world; that wealth constantly finds you from a variety of sources; that you are continuously delivering massive value to the world and ultimately, spending your money without fear is validation of the confidence you have in your own abilities.

Trust that as you continue finding ways to create value for other people, wealth will continue finding ways into your life.

All wealthy people believe this, and it is evident in the way they spend their money. They are fearless and they splurge on things that they truly desire.

They enjoy nice dinners, expensive clothing, and even picking up the tab for loved ones. They live a life of abundance.

They are never afraid of spending a little bit more for something they truly desire.

So, if you truly want to become wealthy, don’t ever speak of poverty. Don’t entertain it in your mind and do everything in your power to begin adopting the mindset of a wealthy person. Slowly but surely, you will find wealth begin to manifest itself in your life.

Quick Warning: There is a big difference between spending fearlessly and spending indiscriminately. The difference is, once again, in the mindset. If you are spending money that you don’t have to escape reality, or in unproductive ways, especially if you’re living well beyond your means (like most Americans), this will only create a serious delay in becoming wealthy. However, if you are unafraid of spending (i.e. spending fearlessly) and you have developed a powerful mindset that is full of faith, constantly scanning your present environment for opportunities and truly behaving responsibly with respect to your finances, your wealth-building will be accelerated dramatically. [End Rant]


If you enjoyed this post, I think you’ll love this one too, entitled “Conquering Fear (Once, and for all)”

I also publish work on my Relentless Forward Momentum website. And you didn’t hear this from me, but if you go here you can get all 3 of my books for free (say whaaattt?!?!), plus you’ll get regular inspiration, motivation and strategy sent directly to your inbox. Check it out. :)

Matthew R. Harris

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Author of Relentless Forward Momentum | Fitness Fanatic | Washed-up NCAA Athlete⚾️ | Free-market Promoter | in love w/ @katyperry | #RFM

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