When it comes to improving your personal finances your money mindset is a critical foundational piece.
Your goals may revolve around becoming debt-free, saving money, investing, getting to 7 figures in savings but without the right financial mindset, it will be really difficult to accomplish.
These days all it takes is a quick Google search and within seconds you’ll be provided with thousands of articles giving you step-by-step guidance on how to do all of the above to get you closer to your money goals.
But, if you’ve ever attempted to accomplish a difficult goal and failed, you know that it requires a lot more than a step-by-step guide of what to do in order to successfully meet that goal right?
Adjusting your money mindset to achieve your financial goals
The absolute most important part of being able to achieve your goals requires having the right mindset. Sounds simple enough right?
Well, it isn’t always that easy to keep your mindset in check while you take on the long-term task of building wealth.
Attaining the right mindset to build wealth means working on the way you think, working on discipline, getting uncomfortable, and doing what it really takes to get to your end goal.
Improving your mindset is not a one-and-done type of thing. Just like with the muscles in your body, you have to work to maintain it continuously otherwise it will begin to deteriorate.
With that being said, let’s jump into how to change your perception and attain a positive money mindset!
10 Key tips to create a positive money mindset
So, here are a few tips to help you improve your money mindset as you go along on your journey to building real wealth.
Remember, no matter what your current financial situation is you can change your mindset and money habits to achieve success.
1. Decide to be financially successful
Getting wealthy actually starts way before you open that investment account or make that first deposit into your savings account.
It starts with a simple decision, which in itself is a very profound one.
It’s deciding that you are going to be wealthy and that in turn means deciding to commit to the journey and trust the process.
Deciding you are going to be wealthy (with full conviction) is an incredible boost to your mindset.
This is because, with this decision, you are telling yourself you can do it.
Unless you believe you can be wealthy, you probably won’t be inclined to do what it takes to actually build wealth.
2. Determine your life values
Once you’ve decided you are going to be wealthy, you have to determine your reason for wanting this financial success.
That means determining your ‘why”. Your “why” drives a deep sense of purpose and helps you develop the motivation you need.
In fact, having a “why” can directly improve factors in your life that tie into overall happiness.
So why do you want to pay off your debt, save money, become financially fit and successful, financially independent, etc?
Knowing your “why” will be your ultimate motivator. Especially on the days or during the seasons when things are not going exactly as you planned.
3. Let go of standards and focus on what really matters to you
When it comes to building wealth and working on your money mindset you have to go with what works for you and it’s important to not get caught up in standards that are defined by the world.
And you also want to avoid comparison with others; it’s the thief of joy.
Again this goes back to your “why.”
You might want to retire young, having $500,000 might be your definition of financial independence or perhaps it’s $1 million.
Or your financial goal might just be to have enough money to backpack around the world.
Whatever your goals might be, focus on your own standards and what money means to you in relation to what you want in your life.
4. Get comfortable with your fears and your discomfort
Anxiety and fear are natural byproducts when you want to accomplish something big. There’s the fear of the unknown, the fear of change, the fear of failure.
And in many instances, fear can stop you dead in your tracks and can become really overwhelming.
Especially when you start making up things in your head about all the “what ifs” and “whatnots” around what could happen (that more often than not, never happens).
The thing about fear though is that since it comes with the territory you really have two choices.
The first choice is to let it keep you stuck. The second and better choice is to embrace fear as part of the journey, let it come along for the ride but let it know it’s not allowed to hold you back.
One great way to overcome fear is to remember your “why” and look back at all the accomplishments you’ve had to date and the fears you overcame to get there.
If you could get past those fears you can most definitely get past your current fears about money.
For every fear you have, there is probably one action (even if it’s just a small one) you can take to counter the fear.
For example, are you afraid you’ll never get out of debt? You can focus on making a debt payment right now or in the near future to work against that fear.
Remind yourself constantly, no matter how terrifying it can be, that you can do this and focus on taking small steps every day before you know it, you will have made big progress.
5. Express gratitude
Expressing gratitude is one of the best money mindset exercises because it is a good way to adjust what you focus on.
When you are grateful, you focus more on the things you have that you are appreciative of as well as on all the good that has come to you.
Gratitude also drives contentment in your life which is key to wealth building because when you are content with what you have, you are less compelled to spend, in order to gain material satisfaction which doesn’t always work because you’ll find that there’s always something new that you can buy.
6. Use affirmations to improve your money mindset
It’s so easy to let negativity creep into our mindset. However, you can combat those bad thoughts with good ones.
Using positive financial affirmations as part of your daily routine is another one of the top money mindset exercises to start.
In fact, studies show that practicing positive affirmations can actually reprogram your brain!
So, using affirmations will improve your outlook and give you a healthy money mindset.
7. Let go of limiting money beliefs
Letting go of limiting beliefs is another key step to creating a positive money mindset. Limiting beliefs do just that…they limit you.
You can achieve financial success if you try! So write down some big hairy audacious goals and set your sights high.
This is also another reason to use your daily affirmations.
They will help you bust through those old beliefs and set new unlimited ones!
8. Follow fin-fluencers to improve your money mindset
Getting inspired by fin-fluencers is one of the best ways to boost your financial mindset.
They help you realize that they too have made money mistakes so you don’t need to carry guilt or shame around for your past mistakes.
Listening to personal finance podcasts, reading books, blogs, and watching YouTube channels will give you the motivation to transform your bad money mindset into a good one!
You will also learn how to change your behavior with money, with tips on how to save, budget, and invest for your financial future.
9. Developing a Growth Mindset
Developing a growth mindset involves adopting a positive and growth-oriented approach to your finances.
It involves embracing challenges and viewing failures as opportunities for growth.
Some strategies for developing a growth mindset include setting challenging financial goals, learning from mistakes, and seeking out new opportunities for growth.
10. Developing a Healthy Relationship with Money.
Developing a healthy relationship with money requires effort and patience.
It involves understanding your money story, reframing negative beliefs, practicing self-compassion, setting financial goals, and practicing mindful spending.
By making intentional changes to your mindset and relationship with money, you can achieve financial success and live a fulfilling life.
Conclusion :
Improving your money mindset involves adopting a more positive and productive relationship with money.
By focusing on topics such as overcoming financial fears, mindful spending, building wealth, mindset shifts, managing debt, and building financial resilience, you can develop a healthier and more prosperous relationship with money.
