Every time you think of saving, investing, paying off your debts, having a stable financial life, embrace the right mindset that will take you to these goals. Setting financial goals is not enough, but having the right mindset pushes towards the goals.
If you have tried something and failed at a point, you can attest that it requires a lot more than only taking step by step guide of what to do. People will provide you with the steps to follow but can never change your feelings about money and how it works. Adjusting your mind toward money will help you achieve your goals.
What is Money Mindset?
Money mindset is the feelings you have towards money. It revolves around your beliefs and what you say about money. The beliefs may be in our subconscious mind but they affect our money decisions. Understanding your beliefs will help you understand what motivates you towards your decisions.
Most of our beliefs about money were formed when we were children. They originated from our parents or people who were around us then. The community where we grew also influenced our beliefs about money. Whether positive or negative, they affect us anyway.
If you grew in a family that were against the wealth people or a family that was spending recklessly, you may be negative about wealth people and also end up spending recklessly. Meaning you will have little to invest and save.
If you grew in a family that worked hard for money, with positive attitude you may be likely have a positive relationship with money.
Your money mindset shapes the way you feel about debt, your attitude toward people who make more or less money than you, how easily you can give, your ability to invest with confidence, and more.
How to shift your money mindset
Shifting your money mindset requires you to change your thought about money and do what it takes to get to your goals. You need to understand your mindset and decide which area to work on in order to improve the elements of it. Since money mindset works in different ways, you need to know that which is yours and how it influences your financial decisions.
Shifting your mindset may not be a one-day thing, you need to work on it continuously, and with time you will start experiencing positive result. Remember, you can change your financial situation by changing your mindset. Below are some tips to improve your money mindset that can help you build your wealth.
1. Make a decision to be financially successful
Becoming wealthy start from a simple decision. Deciding that you want to be wealthy and commit your self to the journey. Making the decision tells your mind that you can do it, therefore, it acts as a boost to your mind. Your journey and action to building wealth is only possible if you believe you can do it.
Accompany your decision by reading books that can influence your mind positively. Charles Jones said, “You’ll be the same person in a year as you are today except for the people you meet and the books you read.” If you want to give your brain the chance to change and grow, pick up a book.
2. Focus on what really matters to you
The world may set standard that is used to define people but practice that which works for you. When working on building your wealth, be careful you are not caught up by the standards of the world. Avoid comparing yourself with others because it will steal your joy. Focus on your standards and what money means to you in relation to what you want in your life.
3. Set your life values
Setting your life value means, determine what you want to achieve and why you want to get there. Knowing the reasons to get there, helps develop some motivation that you need. Your ‘why’ will act as a motivator even when things do not turn as you expected.
4. Be grateful
If you are grateful, you tend to focus on the things you already have. Exercise gratitude as it is the best way to adjust what you focus on. Being grateful brings contentment in your life. When you are content with what you have, you are less compelled to take debts and spend on materials things.
5. Affirm yourself to boost your money mindset
Negative thought affects our mindset negatively. Develop a routine where you use positive affirmation on yourself. Such affirmations will have a positive effect on your mindset. In fact, studies show that your brain can be reprogramed by practicing positive affirmation. Always say to yourself that you can do it. if not sure the kind of affirmations to use on yourself check financial affirmations to tell yourself in order to boost your money mindset.
6.. Use your past experiences to learn
Dwelling on your past financial mistakes deter your mind from progress and also waste much of your time. Failure is part of your journey to success, therefore, avoid dwelling on them and use them to learn lessons that helps you grow financially. Spend that time to enhance your financial plan.
7. Have unlimited beliefs
You can only reach where your focus can go. Allow your mind to see far by setting big goals. Do not limit yourself, set goals that are beyond your abilities and start working on them. Speak words of affirmation on yourself and will help you come out of the old beliefs that limit you.
8. Learn from fin-fluencers to boost your money mindset
Note that, for every journey you undertake, there are always people who have gone ahead. These are the people with knowledge and experiences on matters of finances. Such people have too made money mistakes and have made their way to their financial success.
You can also read books, blogs, watch YouTube channels and listen to financial podcasts that adds value to you and also transform your financial mindset.
Having the right money mindset makes a huge difference in achieving your financial goals. Wait! You just need to slightly adjacent your financial mindset positively and start working on it and not very far you will start seeing the rewards.
Don’t forget the money mindset practice such as affirming yourself, forgetting the past failures, setting your values and learning from those with experiences and knowledge. Move from your comfort zone, work on your mindset and see how your financial life will change.