Everything You Need to Know to Shift Your Money Mindset and See Massive Results in 5 Steps

How is it that two people who appear to have similar circumstances and opportunities have two vastly different outcomes and growth potential?... Sometimes it boils down to one thing— mindset. Studies have shown that the way you think about your ability and possibilities really counts. Your mindset with money works the same way. 

What is your money mindset?

Your money mindset is your attitude about money. You are wired with a set of core beliefs about money. Like with other things, your mindset determines how you process and receive certain things and events. Not to get super deep on you, but your mindset determines how you make sense of the world around you. 

Why does it matter?

Successfully managing money and reaching your financial goals is just as much a mental and psychological battle as a strategy and number one. The bottom line is money is emotional, and you have to manage your money mindset, or you’ll never really feel [financially] free. It’ll never feel like you have enough if you cannot overcome the negative experiences and feelings that accompany it. Or maybe you’ll keep pushing away the opportunities for abundance because you feel like you don’t deserve it. Some of these thoughts and beliefs are so subconscious and deep-rooted that you have no idea where they came from— however, understanding where it comes from helps you shift it. 

Here’s how you shift your money mindset...

Explore your childhood with money

Your childhood with money has a massive influence on your mindset today. From how your family talked about money around you to how much money your family had impacted you somehow. Think about someone whose parents made a ton of money but worked long hours and never got to spend time with them. They could perceive money very differently from someone who grew up without money or even from someone’s parents who worked long hours just to make ends meet. 

Think about this…

What is your first memory of money?

Growing up, how was money discussed in your home?

Do you think your parents were good with money? 

Forgive yourself for your money mistakes

The famous poet Curtis “50 cent” Jackson once said, “We only human girl, we make mistakes, to make it up I’ll do whatever it takes.” I’m not a big fan of 50 cent, but he was spot on with that line. We are human and therefore imperfect. Sometimes we have to chalk it up to the game. 

For some reason, there’s a lot of shame and guilt that comes with money mistakes. We have to remember that many of the skills that are necessary for managing money were not taught directly to you in school. You’ve had to pick up bits and pieces along the way, even learning some things the hard way. 

I want you to release the shame and forgive yourself. Now that you know better, you can do better. This part is critical in the healing process and essential for moving on. 

Pay attention to your thoughts, behaviors, and actions around money

Do you get anxious checking your bank account? Do you think “there’s more than enough to go around?” Have you made comments like “they only talk to me because I have money” or “money makes people do crazy things”? While these might feel like harmless statements or actions, they subconsciously affect your behaviors around money. 

Consider this..

Do you believe money can buy happiness? Why or why not?

“Talking about money makes me feel ____”

Why do you want to have money?

Rewrite your limiting beliefs

Limiting beliefs impact the way you handle money and essentially acts as a block on the amount of growth you will achieve. Think about this, if you don’t believe you’re someone who can be a millionaire, you’re less likely to be intentional about saving and investing your money to become one. Let’s say you believe that people who work as educators or for non-profit organizations will be poor; you’ll be more likely to subscribe to that label. 

Take a moment to explore your own limiting beliefs and thoughts. Write them down somewhere where you can see them. Commit to doing this for some time. 

Here are some I’ve heard frequently:

“More money, more problems”  

“I can either be rich or do what I love”

“I don’t make enough to become wealthy”

Then go back and rewrite them with positive language and affirmations.

Here’s an example:

“I can maximize my resources to the fullest extent which makes wealth attainable for me.”

Make changes to shift your habits

Again, your money mindset is deep-rooted and engrained in your everyday life. To shift your mindset, you’ll have to be intentional about making changes to your habits. For example, if you never look at your bank accounts or only do it after heavy spending, start by setting aside 30 minutes once a week to review your finances. 

We all have some not-so-good habits we need to shift, we’re human. Start small and build from there. 

Check out one of our financial coaching programs for our proven success system for your money transformation.