How you think about money determines the role it plays in your life. True wealth depends on your money mindset.
What Is a Money Mindset?
Your “money mindset” is simply your set of beliefs — usually subconscious — about money. Your money mindset can have a huge impact on how successful you are at getting out of debt and achieving your financial goals.
Your money mindset is like an emotional inertia – it drives you to take action. If you have a positive money mindset, you are more likely to be decisive and take the steps that you need to succeed. On the other hand, negativity breeds emotions that prevent action: Fear or intimidation, defeatism, procrastination, etc.
If you don’t feel like you can succeed then you’re less likely to act or even think about acting. It seems easier just to ignore your finances because the challenges seem insurmountable. Seen in this light, it’s not debt or a low credit score or limited income that’s holding you back; it’s your perspective that you can’t do any better.
Changing your mindset will move you from scarcity and poverty thinking to abundance and prosperity thinking. Money will no longer be a villain in your life but will become a tool to enhance your life. You will no longer see it as something that always leave, but as something that always comes back to you. A new money mindset will help you achieve your goals with confidence!”
Here are a few tips to help you improve your money mindset as you go along on your journey to building real wealth:
- 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.
- 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. And that means determining your why. Your why drives a deep sense of purpose and helps you develop the motivation you need. 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.
- 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. You also want to avoid comparison with others; it’s the thief of joy. 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.
- Express gratitude and affirm yourself to success:
Expressing gratitude is a good way to adjust what you focus on. When you are grateful, you focus more on the things you have 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, spend, 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.
Affirmations are another really amazing way to fine-tune your mindset because affirmations help you put yourself in a state of mind where you are frequently stating what you believe to be true and what you want to come true which in turn keeps you focused on the things you want and not the things you don’t.
Having the right money mindset can make all the difference when it comes to achieving your life and financial goals. It will, however, require constant focus and nurturing.
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