The war is won in your mind before it’s won in your bank account. If you think you can, you will at least try but If you don’t think you can, you won’t even try. This is true for any journey you might be on, financial or otherwise.
So, what is a healthy money mindset and how do you go about acquiring it?
A healthy money mindset means that you don’t view money in a negative way
Some of the negative thoughts are:
- I don’t have enough: what’s enough? This is a moving target for most people depending on where you are in life. Focus on what you do have, not what you lack.
- I envy people who have more: we all have been there we see someone with a fat checking account and wish we had that kind of cash. You don’t know how long it took them to get there or if they are even happy being where they are. Comparison kills.
- I can’t earn more: when you work hard but can’t seem to be able to increase your income, it can be frustrating. Look at this as an opportunity to do things differently by changing jobs, careers, or starting a side hustle. It’s not a dead-end.
- It causes me a lot of stress: money stress comes whether you have too much or too little. The remedy for this is to have a plan for your money.
- I can’t talk about it: it’s a taboo to talk about money. Money conversation makes people uncomfortable because it is as personal as it gets. My advice is to find one or two people you can discuss money topics without giving your specific numbers. It’s a healthy way to share strategies of what works and what doesn’t.
- I don’t know how to manage it: but you can learn. You don’t need to be a financial professional to know how to handle your finances.
- I have always struggled: your past doesn’t define your future. This goes beyond finances; it reveals a lack of self-confidence. The good news is that you can change, you just have to want it bad enough.
- I feel guilty for wanting more: there is nothing wrong with wanting to make more money (as long as you do it in an honest & ethical way).
The problem with these thoughts is that they keep you in a defeated mentality. You might feel like you don’t have any control over your money which doesn’t push you to take any action.
You want to start looking at money as a tool that can help you do a lot of things:
- Save for the future: this gives you peace of mind knowing that you have something saved for rainy days.
- Invest and earn even more: money helps you make money, so you don’t have to work as hard. Who doesn’t want an additional source of income, especially the passive one?
- Buy what you need: money helps you obtain necessary things but also splurge on wants.
- Help others through giving: money is meant to be shared. If you’re blessed, bless someone else. Don’t be greedy!
It takes time to change believes, so keep a positive attitude throughout your journey. Surround yourself with like-minded people if possible, to keep you encouraged. A shift in mindset allows you to focus on things you can control and make you feel empowered. You also develop a sense of gratitude for what you do have. You might not be where you want to be now, but you are making progress. You might not have x$ in your bank account YET, but you have a plan for how you will get there. You go from a “glass half empty” mindset to a “glass half full” mindset. It’s all about perspective.
“Money is only a tool. It will take you where you wish, but it will not replace you as the driver” Ayn Rand
