How Your Social Circle Influence Your finances

Your social circle has a strong impact on your success. The people you hang out with, will determine the kind of success you will get. Simply said: “You are the average of the 5 people you spend the most time with”. This is also true when it comes to your finances.

Research shows that, negative emotions and moods are contagious. This explains why we tend to have the same habits as those we keep company with. Negative people have a negative impact, and positive people have a positive impact. So, if you’re surrounded by people that make poor financial decision, you may end up just like them. That’s why it’s important to understand just how your circle of influence impacts your financial goals.

How Your Social Circle Affects Your Finances

The people (and things, i.e., what you read, what you listen to, what you watch, etc.) have a strong impact on your finances whether you choose to believe it or not. If you are spending most of your time watching or reading things that add nothing towards the progress you want to make with your finances, then it’s the same. You’ll find it harder to get the motivation that you need to start making progress.

Continuously surrounded by people who think they can never save and are all about accepting what life gives them? Well, then you are very likely to start thinking the same way because there’s nothing really motivating or empowering you to do better.

When you surround yourself with people who gives you positive affirmations, you are ignited to reach your goals. So, when you change your circle of influence to those who save money and work towards financial success, you will be motivated to achieve your money goals.

When to Change Your Social Circle

Well, it’s actually not that difficult to start. It’s all about assessing the people and things around you as it relates to what you want to accomplish. That assessment will help you determine where you need to begin.

For example, if you’ve been thinking about paying off debt, but everyone around you is adopting a “YOLO” mentality, and you seem to have fallen into this same line of thought, that’s an indication you need to shift your circle of influence.

If you’ve wanted to start your own business, but everyone around you thinks you are wasting your time, then that’s another indication. Think you can’t find a better job that pays you more money, because everyone tells you that it’s not possible? For these different reasons you may find that your friendships feel forced and you are growing apart from your friends.  Well, it might be time to make that shift. Keep in mind that it’s important to address the emotion s of letting a friend go.

Shift Your Circle of Influence to the Right People

You are likely to attain your goals if you surround yourself by the right influence. Set your goals to find and surround yourself with the people and the things that will get you motivated to do better and challenge you to actually start accomplishing your goals

Once you identify the type of people you want to spend more time with, you need to start spending less time with the people who have nothing to contribute to your purpose or progress. It doesn’t mean you start cutting people off for no reasons. It means, you spend less time with such people in order to spend much of the time with people who can add value to your financial goals.

Improve your influences and mindset

You can’t allow yourself to become complacent; you can’t settle. To achieve success, you will have to take a hard look at who and what you surround yourself with. You’ll need to make positive changes, start taking action towards accomplishing your dreams of financial success into reality. Do this by attaining a positive money mindset, setting financial goals, and shifting your circle of influence to people who motivate you.