Are you trying to change your money mindset?
Do you know that your current money mindset is holding you back? Maybe you dream of being a millionaire or billionaire and it feels like a million miles away? Or maybe you would just like to increase your income by 10% or 20% but even that feels impossible?
If you are to change your money mindset from scarcity to abundance then keep on reading as you’ll find out how to change your money mindset.
What is money mindset?
Your money mindset is a combination of your beliefs about money and your attitude towards money. Your money mindset informs your thoughts about money (your own as well as other people’s money), as well as having a direct relationship to the way to spend, save and invest money.
Your money mindset is influenced by many factors. From a young age, we are all absorbing information from our parents and the world around us. Then as we earn, spend, save and invest our own money we’ll be developing our mindset further.
Now that you understand what money mindset is it is now time to discover how to change your money mindset.
1. Understand your current money mindset
In order to change your money mindset, you need to first be aware of your current mindset. Now since you are reading this blog post I’m going to assume that you are aware of the fact that you have some limiting beliefs around money.
To truly understand your money mindset, it is a good idea to get a journal and write down as many phrases and stories you have around money.
To get your started here are some common money phrases that are used in society. Have a read and write down the ones you agree with.
• Money doesn’t grow on trees
• The more money you have, the more problems you have
• There is never enough money
• You have to have money to make money
• You have to work really hard to make money
• Money is the root of all evil
• You can’t buy happiness
• The rich get richer and the poor get poorer
• There is not enough money to go around
• Rich people are greedy
• I’m not good with money
• I can either make money or do what I love but not both
2. Design your new money mindset
By now you should have a better understanding of your current money mindset and you should have identified some specific attitudes or beliefs around money that come from a place of scarcity or won’t support you to receive more money and build more wealth.
For example, if you agreed with the statement ‘I’m not good with money’ then I’m sure you can see how that statement isn’t supporting you.
For every negative or unsupporting statement, you currently have you need to write down a new one. I’m great with money. I’m able to easily earn money and then spend, save and invest my money wisely.
3. Program the new money mindset
Now you should have a whole list of new statements that are written from a place of abundance and positivity. However, right now they are just statements. Whilst you may love for you to have those thoughts the fact is it will take time for those thoughts on paper to become a thought your truly embody and believe.
A great way to program a new mindset is through repetition. With the new statements you have written down you need to find a way to practice them every way. Some ways you can do this are:
• Read the statements aloud
• Re-write the statements
• Record the statements and pay the recording back
4. Keep doing the work
Changing your money mindset is an ongoing process. You can’t do this work and then expect to always have a money mindset of abundance going forward. Your current mindset has been forming over years, if not decades, and that means it is easy to revert back to your old ways. That is why it is essential that you integrate money mindset practices into your life as part of your ongoing personal development.
You will need to pay close attention to your thoughts and the words you say. It might be that you say another negative statement about money that didn’t make your original list. You’ll then need to go through all of the earlier steps.
Also, it is likely that you’ll have to repeat the process as you hit different income levels. Right now the focus was on your current mindset based on where you are at. As your financial situation improves new beliefs and attitudes may reveal themselves and again you’ll have to go through the process again.
There you have it! You now know how to change your money mindset.
Money mindset is a topic that I’m very passionate about. I’m passionate about women earning good money and being able to manage their personal finances with confidence. Your money mindset plays a key role in your ability to earn and manage money.
Each year PropelHer’s Book Club reads a money or personal finance related book.
2020 – Secrets of the Millionaire Mind by T. Harv Eker. (Join the discussion on Monday 2nd November)
2019 – Your Money or Your Life by Vicki Robin and Joe Dominguez
2018 – Money by Rob Moore
2017 – Nice Girls Don’t Get Rich by Lois P. Frankel, PhD
2016 – Get Rich Lucky B*tch by Denise Duffield-Thomas
View the full reading list here.
If you would like to join a supportive community of women who are all committed to continually improving their knowledge and working on themselves then join PropelHer’s Book Club. For more information and to become a member click here.
