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This post will be sharing three actionable steps to improve your money mindset.
A lot of us have a love-hate relationship with money which is pretty understandable There isn’t a lot of personal finance education in the school curriculum. We’re just thrown out after school into the real world to figure out stuff on our own. This of course, leads to making questionable money choices.
I like to think that I have a good relationship with money. Yes, I could definitely be increasing my income and investing more but I’m doing okay for my age. Based on everything I’ve been able to achieve from starting a business, saving up and moving to a new country before 25, I believe I’m not doing too badly. I’ve also not made any crazy money mistakes like buying stupid things that are way beyond my budget. Or taken a loan to buy something because of social media pressure. I’m a pretty content person and never aspire to things that are outside my income bracket.
It goes without saying that I have the right money mindset. After spending a lot of time educating myself about personal finance and how money works, I’ve been able to make more informed decisions and fewer mistakes. Believe me, it’s a great place to be debt-free without any money problems beyond my control.
If you have a lot of financial problems and you’re not sure whether to start from, I suggest you start working on getting the right money mindset. Like I mentioned earlier, a lot of us have a love-hate relationship with money. We don’t know how to use money as a tool to achieve our goals. We just have the Spend! Spend! Spend! mentality. Instead of the Make! Save! Invest! mentality and it is costing us a lot.
In this post you’ll learn how to improve your money mindset to achieve your money goals.
Here Are 3 Steps To Get Yourself Into The Right Money Mindset
Our mindset is such a powerful thing that I think a lot of people take it for granted. There a lot of things that you can achieve if you simply put your mind to it. There are also new perspectives to gain when you open your mind to different possibilities. Money is one of them. If you have a mindset that you would never be wealthy or you’ll never have a robust stock portfolio, you’re gonna keep operating in that mindset.
But if you change, be postive and have the right mindset, you’ll see a lot of things turning out well for you.
Let Go of your Money Mistakes
Some of us have made the worst money mistakes and you’re not even 30 yet. You have taken some loans or racked a large credit card debt for some things you even don’t need just to feel among. To make things worse, you’re stuck and not sure how to get out of the rut. While it’s not my place to judge, you have to learn to let go of these mistakes that are holding you back. Yes, it’s fine to be ashamed of your past mistakes but that doesn’t mean you should dwell on them. They’re actually holding you back.
So, how do you let go of your money mistakes?
- Write a list of all the money mistakes your adult self has made that you can remember. You can use your bank statements as a guide.
- Write out all the positive or negative lessons you have learnt from these mistakes. E.g Buying stuff that goes viral is always a bad decision for me. I will not succumb to social media pressure because it is usually a waste of money.
- Make up your mind to forgive yourself for these mistakes and let them go.
Affirm yourself to bigger money dreams.
This is one area I struggle with. Yes, I want to be comfortable enough to afford everything I want. I’m not sure I want to be wealthy, rich or famous. The pressure is way too much. Also, based on my background, what are the chances that I will actually be rich? I like to be logical in this regard. Yes, I can dream big but not too big. LADIES and Gentlemen, this is a limiting belief.
As a result of different factors, you’re limiting yourself to the potential of what you can achieve. One of the ways, you can improve this money mindset is by making positive affirmations. I recently redecorated my desk with affirmative wall art prints. Yes, I needed all the affirmations I can get around me to motivate me to achieve my goals. The great thing about affirmations is that you can have them for every area of your life.
To improve your money mindset with affirmations;
- Write out a list of all your money goals; big and small.
- Write out short affirmations for each of them and place them where you can see them regularly.
If you’re struggling with bad money habits and you want to work on your Personal Finance this year, check out the Clever Girl Finance book. It has helped me tremendously to build let go of my past mistakes, work on my money mindset and improve my finances.
Surround yourself with ambitious people who will motivate you to achieve your money goals.
I do not have that many friends. Some might call it being anti-social but I’m super picky about the kind of people I surround myself with. I have friends with specific roles in my life and they’re all doing well in their own right. I have a specific friend that I can discuss business and money matters with because we are on the same wavelength. Which is probably why I’m not making as much money as I should but that’s just by the way.
Imagine if you have just three amazing friends that hype you up and support your goals. You’re also able to rub minds together and expand your network because you all have similar financial goals. How amazing is it? I’m not saying you should dump your non-ambitious friends. I mean, some of us have one or two of them like that in our lives but there’s nothing we can really do about it.
All I’m saying is, spend more time with the right circle of friends that will help you achieve your money goals. Instead of hanging out on gossip Instagram accounts, spend your free time having productive conversations.
To ensure that you have the right circle of friends are actively helping you improve your money mindset, assess them with these questions;
- Ask yourself who you are spending most of your free time with? Who are your go-to friends that you spend the most time with on FaceTime?
- Ask yourself what you and your friends spend most of your freetime doing? Yes, it’s nice to scroll through TikTok for hours but if you’re not a creator looking for inspiration to make money from it? It’s a waste of time that adds up quickly.
- How often are you and your friends taking steps to achieve your financial goals? You might have an amazing network of friends and it is not reflecting on your finances.
I hope these actionable steps have helped you improve your money mindset. Remember, when it comes to financial freedom, it is a journey so don’t be hard on yourself and your past mistakes. Learn from it, let it go and work togther a better future.