A post about changing your money mindset might seem like a load of new age mumbo jumbo but bear with me.
The way you think can play an important role in how you perceive yourself and money.
I’m sure at some time in all of our lives we have had something happen or something said to us that has had a profound effect on the way that we think about things.
Whether that’s being being called names at school and wanting to prove them all wrong or trying to start a business and have it fail only to not try in business again for fear of failure.
The mind is a funny thing, which apparently can’t tell the difference between what is real and what is not and everything we think about the most can often become a self-fulfilling prophecy. I think that Henry Ford said it best, when he said “If you think you can do a thing or think you can’t do a thing, you’re right.”
The ideas below will hopefully give you some ideas how a change in money mindset and aid you on your way to financially freedom or any other money goal that you might have.
1. Stop thinking that you don’t deserve money
You might not have been born into wealth but that doesn’t mean that you’re any less deserving of the freedoms that being financially independent brings with it.
Your education or background has no bearing on your ability to become financially independent, so leave the belief that you don’t deserve money behind you and start telling yourself that nothing is going to stop you achieving your financial goals.
2. Always be looking for opportunities
If you’re closed to the possibility that you are ever going to make money, opportunities that present themselves are going to be missed.
The belief that there are opportunities everywhere opens your mind and allows you to grab them with both hands when they do eventually come your way.
3. Write down what you want to achieve and how you are going to achieve them, be realistic
Writing down what you want to achieve might seem like a waste of time, but it’s worth it in the end.
Writing your goals down provides you with a direction and something that you can review on a regular basis.
Think of it like a shopping list, if you haven’t made one, you’re likely walk around the supermarket aimlessly, getting sidetracked and ending up buying something that you didn’t need. Compare this to when you have made a list, your mind is set on only obtaining those items, you know where you’re going and your mind is focused on only buying those items.
4. Don’t let past money mistakes determine your future money self
So what, you might have failed in business or tried side hustles that seemed to work for others but didn’t work for you.
Don’t be disheartened pick yourself up and dust yourself off, what might have worked for one person isn’t always going to work for another.
5. Understand change isn’t going to happen overnight
Unless you’re inline for a promotion, inheritance or you’ve won the lottery, money isn’t going to come into your life straight away.
Depending on your current circumstances you might have to retrain to do something that is eventually going to make you more money or you are going to have to work your way up the ladder either way, this takes time and commitment but think of sense of satisfaction you are going to get when you eventually achieve your goal.
6. Change your opinion about money
If you hold the belief that the love of money is the route of all evil what do you reckon your chances of making more that you do now are? I’m betting next to none.
While it might be true that a lot of bad can come with having money, jealousy and false friendships to name two, remember that money can do a lot of good and help a lot of people.
You don’t have to be a signed up member of the giving pledge for money to do good. If you can afford it, giving a little to your favourite charity can help you see money in a different way.
7. Take inspiration from others, but don’t compare yourself to them
Your neighbours have a new car, you have friends moving to a bigger house, good for them. I’m not for one minute suggesting that you should take your inspiration from them, you don’t know their financial situation, for all you know they could be living month to month, living without an emergency fund.
Take inspiration from those that choose to live their life in the pursuit of wealth not material riches.
These people don’t necessarily have to be in the public eye, you’d be surprised how many people you know that live a wealthy existence as a opposed to a financially rich existence.
Do you know of any more useful tips?
I hope that you found some of these tips useful.
If you can think of any more useful ways to improve your money mindset, leave them in the comments below.