How to Develop a Positive “Money Mindset”
When it comes to achieving your personal and business goals, money tends to be a great focus on measuring success. The money mindset is essentially your attitude to cash, so developing a positive mindset about money is crucial for overall success and well-being.
To create a positive mindset around money, you want to rid your mind of all limiting beliefs preventing you from taking action, then start looking at the world through an opportunistic lens to fully achieve abundance in your life.
If you want to discover a positive mindset about money, here are a few actionable steps to getting there.
What is a Positive Money Mindset?
If changing your mindset about money is a priority, first you will want to understand what even is a money mindset. A money mindset is an overriding attitude that you have about your finances.
Your mindset around money drives your financial decisions every day. This can have a huge impact on your ability to achieve your goals. It is vital for success to focus on having a positive money mindset.
While money can be a stressful topic for many, if you change your mindset about money, you tend to make better choices about how to overcome challenges.
The 4 Steps to Develop a Positive Money Mindset
Money and mindset go hand and hand, so understanding it and focusing on ways to view it positively, is crucial for lifelong success.
But, here’s the secret: When you fix your relationship with money, you will transform so many other areas of your life.
Here are four steps that will help you develop a positive money mindset:
Forgive your Financial Mistakes
If you have never missed a credit card payment or bill, you might as well be a financial guru. However, for the vast majority of it is important to forgive your financial mistakes.
The goal is to shift your focus away from shame and make room for better practices and a more positive attitude towards money in the future.
To forgive your financial mistakes, first acknowledge what happened, apologize to yourself, then focus on moving forward. If you start to develop a negative mindset toward money just remember, your financial mistakes are not you. You are independent of your financial mistakes in the past.
Set Financial Goals
Once you have forgiven past financial mistakes, setting financial goals can be a great next step to money mindset mastery. When setting goals, figure out what matters most to you, and put every single thing on the table.
You will want to dive into what goals are within reach, what will take a bit of time, and which ones will need to be a part of your long-term strategy.
Once you have identified these financial goals, apply a SMART goal strategy to make sure the goals are Specific, Measurable, Achievable, Relevant, and Timely.
My SMART Goals Template will help you clarify your goals, focus your efforts, and use your time and resources productively.
Optimize Your Budget for Happiness
Achieving money mindset mastery is no easy feat. But optimizing your budget to include things that make you happy will make it a little easier.
If a gym membership or going out to dinner makes you happy, plan your budget accordingly to include these things. If you do not feel deprived, budgeting will feel less like a chore.
When budgeting, a good rule of thumb is that 50% of your earnings should go towards needs like housing, food, gas, and medicines, 30% to wants like vacations and finally learning how to play an instrument and 20% should be saved. If you’re carrying debt, the 20% may be directed to paying that off first.
Inform Yourself about Money
Finally, if you want to have a positive mindset around money, inform yourself about money. Surround yourself with people who live by those values, read books promoting positive mindsets, and make sure your social media feeds do not promote negativity around money and spending.
Your feelings about money directly affect your financial reality. While your parents and other outside influences have ingrained various money
beliefs into your head, the good thing is your thoughts around money can change.
The key is to constantly feed your mind with new and positive content that will teach you how to think of money in a whole new way.
Money mindset books encourage positive money spending habits and budgeting which are imperative to your money mindset training.
Gain Inspiration from Quotes
Surrounding yourself with motivating and informative quotes will help you get in the right money mindset. Search for quotes that make you feel good about yourself and spending and either save them to your phone or computer or print them out to keep around the house.
Follow Successful People
Keep up to date with successful people. Whether this is on social media, through a blog, or trusted news outlets, following successful people will inspire you to greatness.
These individuals do not all need to be public figures either. Challenge yourself to only seek advice from those who have already achieved what you want to achieve.
These people could be family members, coworkers, mentors, or financial influencers. Whatever the case, it’s much easier to follow in the footsteps of someone who’s already successful and emulates a positive money mindset.
Set Goals for a Financially Successful Future
Now that you know how to develop a positive “money mindset”, start implementing these tips for a more successful future. Setting goals now can set you up for financial success in the future. To ensure you set and achieve all your goals effectively, get my SMART goals template. Download my cheat sheet now and you will be on the fast track to success.
About Brian Tracy — Brian is recognized as the top sales training and personal success authority in the world today. He has authored more than 60 books and has produced more than 500 audio and video learning programs on sales, management, business success and personal development, including worldwide bestseller The Psychology of Achievement. Brian's goal is to help you achieve your personal and business goals faster and easier than you ever imagined. You can follow him on Twitter, Facebook, Pinterest, Linkedin and Youtube.