You’re a smart person and you know it. It’s not that you don’t know what compound interest is or how self-care is crucial to your finances.
It’s more like you’re playing Jedi mind tricks with yourself.
Yeah, navigating around our money mindset is tricky stuff. You constantly hear that you need to be more positive and learn more ways to manifest money to be rich. Puleaze.
I’m a pretty optimistic person and I still got into debt. It took me many many years before I got a much better handle on my finances. It wasn’t until I got real about what my mindset was around money that I started to see my bank account grow.
What is Money Mindset?
Let’s dive deeper into this phrase. Money mindset isn’t just your attitude towards money, it’s also how you behave as a result of how you feel about money. Let’s say you want to earn more and are working hard on brushing up your skills. But you are so caught up in believing that you’re not a good negotiator you don’t bother asking for more. You not making “enough” then makes you believe what you initially thought was true, so you keep behaving as though you suck at getting pay raises.
Sometimes we get so anxious that we experience what’s known as a flight or fight response. We scramble and do whatever we think will solve our problems. However that can make it worse.
To get a better money mindset, take a look at the following five tips and see you can start incorporating them in your daily life.
Be Aware of Your Money Blocks and Make Plans to Deal With It
We all have them, money blocks. If you don’t know what they are, they’re beliefs you have that literally block you from bettering your money. For example, if you feel like you don’t have the skills to be a great freelance writer, then you won’t negotiate for higher rates.
Money blocks can lead to some pretty destructive behaviors if you don’t deal with them. The first step is to figure out what it is that you’re doing to block the money coming in. Is it the fact that you’re so nervous about pitching clients you don’t do it at all? Or are you spending way too much time trying to find bargains you end up tired and impulse spending?
All of these can be clues to what you believe about how you handle money. So pay attention.
Write Down Your Goals Every Day
Yes, it’s repetitive. Yes, it can be boring. However, writing down your money goals every day keeps them in your mind. When that happens you’re much more likely to work towards them. I consider myself a go-getter, so there’s no doubt in my mind that I will do I set out to do. When I write my goals down, it helps me remember and sends a signal to my brain to start thinking of ways of achieving my goal.
It may seem like you’re wasting a notebook to do this,but looking back at when I started this small habit, I found that I achieved my goals a lot faster. Besides, when you’re constantly thinking about the same thing, it can help to motivate you.
Develop One Small But Useful Habit
This habit doesn’t have to be related to money, but it can. A habit that benefits you will trickle into every aspect of your life, and you’ll definitely see it affect your finances. For example, I used to wake not feeling rested and would often forget to pull ingredients out of the freezer for dinner. When that happens, I either stop off at the supermarket or end up getting takeout. Once I made a commitment to have a better night time routine, I felt more rested and noticed I bought a lot less food. See how that useful habit helped me be better with my money?
When creating a new habit, try to pair it with an existing one. That way, you’ll automatically incorporate the new habit. It’s just so much easier. Also, do what I call the one percent rule. As in, can you start super small and work on bettering it one percent the next day? Then another one percent the day after that, and so forth?
Forgive Yourself for Past Money Mistakes
Forgiveness has been one of my best secret weapons to better my money mindset (and ultimately, my life). When you don’t forgive yourself for mistakes you’ve made on the past, you’ll start believing you’re just no good with. This is a huge money block and will definitely get you into some deep doo doo.
When you forgive yourself for your past money mistakes, you release that negative energy and allow something better to come in. For me, I harbored a lot of negative energy about my ex-boyfriend until I started forgiving myself for everything that happened with that whole situation meeting someone who I eventually married.
Forgiving yourself is really as simple as imaging the situation you’re ashamed about, and saying “I forgive you out loud.”
I’m not talking about religion or anything. I’m referring to having faith in yourself. It’s all about know that you are doing the best that you can with whatever you’ve got. So many people ask me about how to pay down debt, or earn more from a side hustle. The first thing I always tell them is that you should be proud you’re willing to put yourself out there to learn how to better your situation. Keep that fire lit under your butt and you can do amazing things.
Everyone started from somewhere. I was jobless, in debt and had nowhere to live 10 years ago. I had no idea how I was going to get out of that situation, but somehow I managed. I knew that if I learned how to be better with money, I’ll be fine.
Like they say, the journey of a thousand miles starts with one step. What’s your first step to a better money mindset?