Money mindset is a set of beliefs about money that is different for each individual. Our financial behavior is determined by our attitude toward money. Many of us have negative feelings or anxieties regarding money, such as “money is terrible,” “money only causes problems,” and “I am always in debt.” These negative thoughts can come from what we were taught when we were children or what we experienced in the past. They prevent us from making or reaching financial goals.
This blog will help you in decoding your money fear and building a positive money mindset.
Wrong/bad Attitudes toward Money
How many times have you complained about money?
How many times have you blamed money for problems in your life?
Objectively, the money itself is not at fault. If your car has a problem and you can’t afford to fix it, is it the money’s fault? Or when it took me months to pay off the huge hospital bill, should I blame the money for it? Of course not.
In fact, if it weren’t for the money, you wouldn’t have owned that car! And it’s thanks to money that I can pay the hospital bills, and it’s money that helps me stay healthy!
“More money just creates more problems.”
“Debt is just a way of life; everybody has debt.”
“I’ll never be wealthy; investing is too hard to understand.”
“Only business owners can make a lot of money.”
These are some examples of wrong/ bad attitudes toward money. You can see these are limiting beliefs or fixed mindset about how you can make and use money. In the next parts, we will discuss how to transform them into growth mindset, that will help you to be willing to change your circumstances then change your financial outcomes.
Reasons of Money Fear
Like other life patterns, our current financial attitude is strongly influenced by our childhood experiences. In the past, your parents may have said, “We don’t have enough money to buy this” or “We shouldn’t spend money on this useless stuff”, and you may have similar attitudes on money when growing up.
These fears make you hesitant to spend money, even on necessary bills. Anxiety about spending money may come from a fear of running out of it. Others lack financial management skills and stop saving and paying bills.
Money fear has another reason. When someone harms your finances. It’s even worse when it’s a close friend or family member that cheats. I know it’s difficult, but try to forgive and let go of the incident to free your money block.
Change your mindset
When you change your money mindset, it will not bring you more money immediately, but it will free you from the stress and fear surrounding money, and increase your happiness level. One of the ways is to transform a fixed mindset to a growth mindset. A growth mindset can help you to be willing to change your circumstances in order to change financial outcomes. It could give you the courage to start a new business or invest or explore new income paths.
Practice!
Write your fears down
Write down all of your negative money thoughts and emotions.
– What lessons have your parents taught you about money? Do your parents frequently tell you that “money does not grow on trees, money is the cause of evil,…”?
– What is the financial situation of your family? How do you feel about that?
– Write about your financial outlook. Why do you believe this?
Remind your good memories about money
– Write about the first time you made your own money. How did you feel then?
-Think about a time when you managed to get out of a problem thanks to money. Tell about it and how you felt at that time.
Repeat confirmations
I believe you have made a huge shift in your mindset. It’s time to reinforce your new belief with confirmations. You can write these confirmations in your notebook many times, or write them in a note and keep them wherever you can see them every day. And I encourage you to write your own confirmations that have special meaning to you.
“Money is neutral; it is neither fundamentally good nor harmful.”
“I can get out of debt; many individuals live entirely debt-free.”
“If people in my field don’t make a lot of money, I can change careers or make more money in other ways.”
“Money does not cause difficulties and is an excellent tool for dealing with many real-world issues.”
“People in various roles within a corporation can earn a great income.”
I hope this post helps you overcome obstacles and change your money mindset. And I believe you’re on your road to managing your money, building wealth and achieving financial freedom!
