International Wealth Mentality Month is held annually throughout the entire month of January. It serves as a reminder to get our finances in order and plan our financial strategies. For those who work in the finance industry, it is a time to discuss their financial situations and goals with new clients. It is also an opportune time to touch base with current clients and make adjustments to their current strategies. Being financially prepared will bring you peace of mind and security both in the long term and short term.
History of International Wealth Mentality Month
Many people have a goal to grow their wealth and add to their assets. These goals can be accomplished by having a wealth mindset and putting several skills into practice. A wealth mindset is a set of beliefs, habits, and behaviors and it is a guide to follow so you can make the most of the money you have. Spending less, saving more, and looking for ways to improve your financial situation are some ways that can fast-track your journey to financial freedom. You should also be protecting what you have and monitoring your financial situation. This month serves as a reminder to take your finances into account.
Wealth can be categorized into three principal categories: personal property; monetary savings, and the capital wealth of income-producing assets. Financial security provides a safety net against a decline in one’s living standard in the event of job loss or other emergencies. Human capital is the estimated expected lifetime earnings of the population. Human capital is the largest source of worldwide wealth, comprising 64 percent of total global wealth. Generally, this has made up the greater share of wealth as countries reach higher levels of economic development. The exception is high-income countries that are dependent on fossil fuel wealth, which have the lowest share of human capital. It has been suggested that these countries reinvest wealth from fossil fuels into other types of wealth — for example, human capital.
Gender gaps are still causing restrictions to growth and little progress has been made toward greater gender parity over the past 25 years. Across all levels of development, women account for less than 40 percent of human capital. There is a call for governments to improve measures of economic progress and help drive policies that improve lives for generations. It has been suggested that they are more effective in measuring and monitoring wealth and investing in sustainable wealth.
International Wealth Mentality Month timeline
Modern labor-saving inventions and the development of the sciences vastly improve the standard of living for even the poorest.
Many jobs are now automated and machines replace some workers while other workers became more specialized.
The U.S. introduces an income tax which further exacerbates financial insecurity among the masses.
Income inequality continues to rise in the U.S. and reaches its peak in 1928.
The 1970s are characterized by slow growth, high unemployment rates, and high inflation.
The wealth of middle-income countries now catches up to high-income countries.
Statistics reveal that there are 400 billionaires globally.
Low-income countries share of global wealth is hardly changed, remaining at 1%.
International Wealth Mentality Month FAQs
What is wealth mindset
It means spending less, making wise investments, and looking for ways to improve financial standing with minimal risk.
What is a millionaire mentality?
It’s where you begin focusing on changing your life and accomplishing your goals by purposefully changing your mindset.
What are financial goals?
These are ways you intend to improve your financial standing. Some examples are paying off your debt or increasing your retirement savings.
How to Observe International Wealth Mentality Month
Speak to a financial professional
A professional can help you start investing or focus on your goals. Doing this will help you as you plan to buy a house, fund a wedding, or reduce debt.
Do something every day that does not cost money
Plan something that you enjoy daily to do that does not cost money. This is a great way to start training yourself to live within your means.
Work on your wealth mentality
Take time to reflect, plan, and then take action. Use this month to change your wealth mentality which will help you as you work towards improving your financial situation this year.
5 Facts About Wealth Inequality
The countries with the greatest income inequality
South Africa, Namibia, Suriname, Zambia, and Sao Tome and Principe are the top five countries with the greatest income inequality in the world.
Wealth inequality has a gender slant
Research has found that the world’s richest people are men and the top 22 have “more cash than all the women in Africa.
Income inequality in the U.S.
Income inequality is closely connected to higher levels of crime, stress, and mental illness.{[Income equality is not improving
Income equality is not improving
The U.S. has been ranked as one of the worst places for income equality among developed economies for many years now and this issue is only getting worse.
Income equality is affected by government policies
A nation's level of income inequality is substantially affected by government policies concerning taxation and labor.
Why International Wealth Mentality Month is Important
It encourages us to be responsible
We spend the month learning about finance. We also learn how to be responsible with our money.
It educates us about a complicated topic
The topic of finance isn't for everyone. International Wealth Mentality Month provides information that everyone can access and use.
It encourages us to plan our future and security
International Wealth Mentality Month reminds us to plan for our financial future. We need to be ready for retirement.
International Wealth Mentality Month dates
| Year | Date | Day |
|---|---|---|
| 2025 | January 1 | Wednesday |
| 2026 | January 1 | Thursday |
| 2027 | January 1 | Friday |
| 2028 | January 1 | Saturday |
| 2029 | January 1 | Monday |
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