Imagine you are holding a large magnet in your hand and you wave it near a bunch of metal paperclips on your desk. What happens? The magnet attracts the paper clips.

Note that it does this with ease. It doesn’t have to work hard to accomplish its task. And the paper clips will keep sticking to the magnet permanently, unless you forcefully pull them off or the magnet becomes demagnetized.

So it is with money magnetism. When you’re a money magnet, you are able to attract and retain money—with ease.

Signs of Money Magnetism

How can you tell if you’re a money magnet?

One obvious way is to look at the way in which money flows in and out of your business and your life. Do you struggle and work really hard to make the money you make? Are you always under the gun to make money? Or do you seem to have a Midas touch when it comes to making money? Does money flow into your life consistently and easily?

When you do make money, does it stick around—or is it gone before you realize it? Are you just making ends meet, barely keeping your head above water? Do you have a large or small amount of outstanding debt? Are you retaining (and growing!) money through various types of investment vehicles?

You can also recognize money magnets by certain qualities or characteristics they possess. If you suspect you are not currently a money magnet, your awareness of these qualities will support you in starting to develop them.

Interestingly, the amount of money you make is not necessarily an indicator of your money magnetism. In fact, money magnets know that it’s not how much money they make that matters—it’s what they do with the money they have. For a money magnet, making more money is not nearly as important as retaining and growing the money they’ve already made or attracted.

Money magnets use their money in ways that harness the power of compound interest. Instead of having it work against them (as happens whenever we have outstanding debt), money magnets get compound interest working on their behalf. In other words, money magnets get their money working for them, rather than getting caught in the trap of constantly needing to work for money.

An Attitude of Respect

Another characteristic all money magnets possess is that they pay attention to money with appreciation, gratitude and respect—no matter the amount, large or small.

Money magnets understand that accessing monetary abundance requires them to develop an abundant and powerful relationship with money. In many ways, the process of doing so is no different than the process of developing a powerful relationship with another human being.

If you didn’t pay attention to your spouse, children, close friends or significant other, what would happen to the quality of your relationship? If you thought that your spouse wasn’t important, or that paying attention to him or her was “bad,” or that you couldn’t wait until you never had to think about him or her again (three common thoughts people have about money), what would happen to the health, quality and sustainability of your relationship?

That’s how it is with money.

Where Do You Focus?

To cultivate money magnetism, paying attention to money is a must. Remember the success principle that tells us that what we focus on or pay attention to will grow and expand in our lives.

But more than simply paying attention, how you pay attention to money is vital. Most people pay attention to the money they don’t have or to the fact that the money they’re making is not enough. Far too often, when we focus on wanting and needing more money, we fail to be grateful for, respect and appreciate the money we currently have.

A money magnet does not make this mistake.

Imagine a garden hose with a small trickle of water flowing out the end. You might look at it and think only that it’s not enough water—or at least, that it’s not very much. However, someone with the focus of a money magnet would look at that same hose and recognize two important things.

First, he would recognize that the hose is connected to the source of water, the spigot. Second, he would note that the flow of water is turned on. With this awareness, the money magnet would simply look to find and then remove any kinks or blockages in the hose so that the flow of the water could increase.

The process of developing money magnetism is one of removing the kinks or blockages in you that prevent money from flowing to you powerfully.

That’s why money magnets are consistently and actively growing themselves. Money magnets do not separate their personal growth from their money and finances. Instead, they use money as a catalyst for personal development. By focusing on and learning to attract, retain and grow their money, they grow and develop themselves in all areas of their lives as well.

Money magnets understand that when the kinks and blocks inside themselves are removed, not only will money flow more freely and powerfully, so will joy, freedom, fulfillment, health and vitality. So will abundance.

How will you start developing your money magnetism today?

TERESA ROMAIN is founder of Access Abundance, an organization dedicated
to helping people access greater levels of abundance, freedom and fulfillment in their daily lives.
She lives with her husband, Dan, in the small town of Baraboo, Wisconsin.