Your Money, Your Mindset
By Tarie Manyonga
Do you feel rich, secure, and financially abundant? Or do you worry about having enough to make ends meet? Money can be related to as a source of stress, fear, and limitation. Or it can be a beautiful tool to solve problems, live generously, and change the world.
How you think about money determines the role it plays in your life and true wealth depends on your money mindset.
What Is a Money Mindset?
Your “money mindset” is simply a set of beliefs usually subconscious about money. It’s the way you approach earning, saving, spending, and sharing in your life. Your financial habits good and bad are rooted in mindset.
Your feelings of security or uncertainty, limitation or resourcefulness, victimhood or generosity are impacted by your beliefs about money.
All of the messages you’ve internalized about money over your lifetime boil down to two basic alignments toward money scarcity or abundance.
Scarcity versus Abundance Mindset
Do you live in an abundant, spacious universe? Or do you live in a world of fierce competition for scarce resources? When we talk about money mindset, it really comes down to these two belief systems.
A scarcity mindset looks something like this:
You’re always scrambling to make a few cents or wondering how to earn more money. You stress about paying the bills, complain about paying taxes, and resist giving anything away. You withhold and save yet somehow you never have enough cash leftover for a nice dinner, date night, or a movie. Whether you’re making minimum wage or a competitive salary, you have a “broke” mentality and it never quite feels like enough.
Scarcity beliefs about money sound like this:
I’m not good with money.
Someone else will take care of this for me.
People with money are greedy.
Money comes and just goes like a visitor.
If you’re thinking, “Tarie, that’s not my mindset; that’s just my life and the economy is bad. I DON’T have enough money.” That’s exactly what a scarcity mindset would say.
An abundance mindset looks like this:
You appreciate what you have, whether it’s pennies in your pocket or a Lamborghini and enjoy being generous with others.
You have confidence in your ability to make and receive money. You know there’s always enough, and there will always be more. You enjoy sharing the wealth and don’t fuss over bills or unexpected expenses.
An abundance mindset sounds like this:
I love learning about money.
I can take charge of my finances.
Money gives people the opportunity to contribute to others and make a powerful impact.
I am always enough just the way I am.
Whether or not you’re operating from an abundance mindset right now, remember, mindset is flexible. When you know where your beliefs came from, you can change them.
Where Does Your Mindset about Money Come From?
Many of your deeply ingrained beliefs about money come from childhood experiences you might not even remember. If you were raised in an environment of scarcity, you might take that mentality with you into adulthood. Maybe your parents said things like, “Money doesn’t grow on trees!” or “we don’t have money; We can’t afford that!”
If you grew up in an environment of generosity and financial security, you might have a more abundant mentality. You heard messages like, “It’s only money, you can always make more” and, “We’re so lucky to have everything we need,” “How can we afford it”
Early experiences with money, lessons taught by your family, and the habits of people around you all affect how you think about money.
Your current environment matters, too: The people you spend time with, your neighbourhood, the books you read and what you spend most of your time doing.
Research shows we’re more affected by our environments than we think. If you’re surrounded by people with a broke mindset, it’s easy for their habits to rub off on you and the vice versa is true
Before you start cursing your childhood or vowing to ditch all your scarcity-minded friends, slow- down.
The people around you matter, but it’s not really about them. Changing your mindset starts and ends with you.
Seven Ways You Can Change Your Money Mindset
Having a gratitude list or a gratitude journal is another very powerful tool the law of attraction has on offer. I write every day a full page in my journal, with all the things I’m thankful for.
This exercise is really powerful when it comes to your mindset change. Not only for your money mindset.
You should try it out and start with a gratitude list today. You can do this in your morning routine or just before you go to bed. But practicing gratitude is so much more than just writing down what you are grateful for.
Gratitude is something you should live throughout your day, actually throughout your whole life.
Start by being thankful for all the little things in life, and I’m sure whatever situation you are in right now when you start to focus on gratitude, you will find plenty of things to be grateful for.
You will soon realize that this is switching your whole mindset, your filter will be set to things you are grateful for, and you will attract more of these things into your life.
Start to Love Money
You cannot build a positive money mindset if you have any negative feelings towards money. Being wealthy is a good thing! Money IS NOT the root of all evil. It’s the people that use the money the wrong way! When evil people have money (and with the money usually comes the power), then, of course, this can have a negative effect.
But that has nothing to do with the money itself. Think about all the great things wealthy people can do, all the philanthropist do!!
You don’t need to feel guilty for loving money. If it makes you uncomfortable to have a lot of money and knowing that others have to live in poverty, then help them. Give money to charity, or even start your own charity.
Be More Confident with your Money
Most people underestimate what they are worth. Never do this; it’s the worst thing you can do when it comes to your money mindset. We all have some value to offer, and that’s what you should concentrate on. You will soon realize that you are worth a lot and you deserve to have that money and treat yourself to something good. Be confident that you are worth the money you want to earn, and it will show up.
Money needs direction
Most people know this as having a budget or a financial plan. From a practical standpoint, this makes complete sense. If you don’t have a plan for your money then you’ll never really shift your financial situation. However, the structure of this plan stems from the mindset that your money needs direction and a plan in order to meet your financial goals.
Cut emotional spending
Emotional spending is a huge issue for many people because we are often driven by our emotions depending on what’s happening in our lives. If life isn’t moving according to our plan then we can feel powerless amongst chaos and turn to money in order to make things right. Money represents power, so it’s no surprise that many use it to ease their pain and regain a sense of control when life throws a few curveballs.
Money is personal not relative
It’s easy to compare your financial situation to those in your family, friends or co-workers. This can create feelings of lack, envy and despair concerning the state of your finances.
Consider your personal financial goals for yourself, not as they should be in relationship to what you see in others.
You may see someone driving the latest car and feel jealousy, however, you may not see they are just barely scraping together the money to make the payments every month.
Yet, as you compare your situation, it shifts your mindset from being appreciative for what you have to now being insecure about what you don’t have. Money is personal and best kept that way to avoid a negative shift that will inevitably affect your financial situation.
Change your money Belief
If you’ve ever said to yourself “mari muenzi!” (money is like a visitor) or maintain the perspective that you will never be as successful as your wealthy friends then you’ve encountered a negative money belief.
Money beliefs shape the mental tape we have about money.
They are commonly referred to as money blocks. Negative money beliefs can have disastrous effects on your financial situation because what you think affects how you feel which then shapes the actions you take and eventually, the results you get.
You can see why it’s important to identify any negative money beliefs so that you can shift them into positive beliefs that will eventually shape your financial life in a positive way.
The best way to change money beliefs is doing affirmations
As you consider changes to your finances, start with examining your mindset to see how you may be sabotaging yourself even while planning fervently for your financial future.
Conclusion – What’s Your Money Mindset?
If you want to achieve financial goals, start by making peace with where you are now. Appreciate what you have. Find small ways to be generous.
Choose a more positive, abundant money mindset. When you change your beliefs, you change everything. Your money matters you must be in charge of it.
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