Definition: What is a Mindset, what is Wealth and Success?

Let's start with the basics. What ist a Mindset? An what do we mean with wealth?

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Every person has her own mindset. The mindset determines how we think and act, and can be defined as an "establised set of attitudes".

From the Research of Carol Dweck, there are two types of mindsets to be distinguished: People which have the one are successful, those who have the other are not.

Wealth refers to “an abundance of valuable possessions or property,” or “a plentiful supply of a particular desirable thing.”

There are four basic types of wealth to be distingiushed:

What is success?

The topic of this couse is about financial success. Hence we define financial success as reachment of financial wealth and goals.

Sources of content: Dweck, C. S. (2008). Mindset: The new psychology of success. Random House Digital, Inc., Sincero, J. (2017). You are a Badass at Making Money: Master the Mindset of Wealth. Penguin; : Yessenia Bailey. Wealthfit. Wealth Starts in Your Mind: 4 Ways to Develop a Wealth Mindset. https://wealthfit.com/articles/wealth-mindset/.

Source of Video: https://www.youtube.com/watch?v=pN34FNbOKXc

Source of image: https://medium.com/the-mission/your-state-of-mind-is-one-of-your-most-priceless-assets-1a9659cf1f8a, https://www.youngadultmoney.com/improve-your-life-wealth-mindset/