Money is a tough topic to talk about. We’ve been conditioned from an early age that discussing money is rude and disrespectful, not to mention vulgar.
As a result, many of us have grown up with a skewed perception of money that makes it difficult for us to manage our finances or have a healthy mindset around making money.
Budgeting and financial goals are often presented as “fix-all” solutions to money woes, but if you don’t get to the root cause of your financial situation – your money mindset – then budget planning won’t be of much use to you.
What is a money mindset?
A money mindset, or often referred to as a wealth mindset, is quite simply the emotional thoughts you have about money. Unfortunately, the most common money mindset we see in our society is a “scarcity mindset.” That is, there is never enough money to make ends meet, and no matter what happens, you’ll never have enough.
It comes from many places, including childhood experiences and personal hardships. Unfortunately, when we believe that we will always want money, our relationship with it becomes highly volatile and emotional, leading us to make poor decisions that keep us stuck in whatever financial situation we find ourselves in.
How can shifting your money mindset help you find success?
Have you heard of the law of attraction? It’s the idea that the energy and thoughts we put into the universe will attract the circumstances we find ourselves in. For example, in the case of a scarcity money mindset, if you live in fear of never having enough, you close yourself off to opportunities to gain more money.
Now I know what you are thinking: if I don’t have money now, how is believing I have enough money going to attract more?
And that’s a valid question. It’s hard to believe that the simple act of shifting your money mindset to believe you have enough money will somehow make you richer. But it can.
It’s not about physical money coming into your life. It’s about opening your mind to new opportunities instead of being closed off by fear.
Think of it this way, you’re more likely to fix a leak in your toilet if you take the time to learn and believe you can than you will by shoving paper towels up the pipes every other day.
That’s the difference between scarcity and abundance money mindsets. When you have a scarcity mindset, you’re too preoccupied with what you don’t have to see new opportunities. Let’s look at ways in which you can improve your money making mentality.
Five ways to shift your money mindset for abundance
Change the way you feel about your current financial situation
No matter how much money you have in your account, you can still cultivate an abundance mindset. It just takes a lot of self-belief and trust for changing your mindset about money.
So instead of looking at your bank account and saying, “oh no, how on earth can I survive on this” try and reframe it as wow I currently have this money, and I am open to having more.
The key here is to stop the panic reaction if your financial situation is not how you would like. Because when we panic, we act irrationally. And that can keep us locked in a negative cycle.
Stay in your lane
The number one way to feel rubbish about your financial situation is to look at how much everyone around you makes.
If you concentrate on other people’s money, you feed your own scarcity mentality that you don’t have enough to look after yourself and your family.
So it is essential to focus only on your own money and situation at all times and ignore the noise outside.
Just because you don’t have as much money as someone else, it doesn’t mean you have a worse life, and when you believe your life is good as it is, you invite a ripple effect of more positivity into your life.
Believe you can succeed
When we feel stuck in our current financial situation, we might be fooled into thinking this is an indication of our worth. But money and self-worth have nothing to do with each other. One does not matter to the other.
The most significant shift you can have to improve your money mindset is believing that you can succeed no matter what comes your way. It won’t be easy, and some people will face more adversity than others on their journey, but believing you are worth more and open to exploring that will attract more abundance to your life.
Visualise your money goals
Knowing that you are worth more is one thing; visualising it is much more powerful. Visualisation and affirmations will allow you to start changing your inner script surrounding money so that you start to move and act in line with your beliefs.
Using a vision board is one helpful way to do this. Another is to lean into the law of attraction and make money affirmations a part of your daily routine.
So, take time every day to repeat your money affirmations in the mirror or in your journal and watch your mindset switch from scarcity to abundance.
If you’re in the habit of seeing the world through a negative lens, you’re going to invite that same negativity into your life.
There are so many hidden treasures buried in your everyday life that can brighten your day and help you see how blessed you are. But it’s not easy to look for the positive, especially if you’ve been through a lot of tough situations in your past.
That’s why you need to make it a habit. Every day, you need to make gratitude a part of your habits.
Start by making a gratitude list daily that reflects the things you are thankful for each day. Seeing abundance in your life will help you see abundance in your money. Abundance isn’t about how much money you have; it’s about how you view the things you have in your life.
When you can open your mind and see everything you have, instead of everything you don’t, your money mindset will shift, and great opportunities will find their way to you.
Money Mindset Quotes
“You can change your health, you can change your relationships, you can change your income, you can change anything.”
“Formal education will make you a living; self-education will make you a fortune.”
“He who loses money, loses much; He who loses a friend, loses much more; He who loses faith, loses all.”
“Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one.”
“You will attract everything that you require. If it’s money you need you will attract it, if it’s people you need you’ll attract it. If it’s a certain book you need you’ll attract it? it literally moves into physical reality with and through you. And it does that by law.”
“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.”
“Never spend your money before you have it.”
“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.”
James W. Frick
“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”
Franklin D. Roosevelt
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
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