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5 Ways to Master Your Money Mindset

By Brandyce Stephenson | 4min read | Published on July 15th

Summary: Mastering your mindset when it comes to money might take time, but small changes can yield big results. Here are 5 ways you can start today!

It might be fair to say that when it comes to money people often have mixed feelings. This can be for many reasons, from upbringing to media messages, but the good news is that if you’ve been feeling lost and confused about how to create financial success you have the power to change it and it starts with mastering your money mindset.

Money mindset is simply your attitudes and beliefs when it comes to financial matters. This impacts your financial habits - both good and bad - everything from how you save, spend, invest, and even whether or not you ask for a raise. 

Chances are if you’re reading this, then you might have a sense that you could use a little boost in this area and we’re here to help because you are worthy of a stellar financial future! Here are five ways to improve your money mindset starting today! 

  1. Boost your financial education

They say knowledge is power and when it comes to finances the more you know the better your potential. We’re not saying you need to go back to school and get a degree in financial accounting (unless of course that’s your jam then by all means go for it!). What we mean is you can educate yourself on financial basics like investing, retirement options, credit scores, crowdfunding and more that will help you in the long run. 

The more you have a grasp on financial basics, the more leverage you’ll have when it comes to building your financial future whether it’s  negotiating for a house, selecting the best investment options, or changing your financial legacy. You can do this through books, podcasts, following financial educators on social media, and blogs. Let the world become your classroom and create your own financial curriculum! 

  1. Change your relationship with money

You could have received some mixed messages with money growing up or if you’ve had negative experiences with money, you might see money as hard to earn, or feel like there is never enough. Your relationship with money can have a BIG impact on your financial future from how much you earn to your ability to get a loan. 

Changing your relationship with money might take a little time, especially if you have a long history of negative experiences, but it can be done. For example, if you believe saving money is hard, you can start automatically putting money away in an online account that has a higher interest rate and have funds transferred at a set time each week or month that works within your budget. You’ll be surprised how $20 a week or $50 a month can start to add up and how little you’ll miss that money out of your everyday spending. Prove to yourself that YOU ARE WORTHY OF SAVING. 

  1. Set yourself up for success  

Keep investing in yourself by talking with a financial advisor or mindset coach to help you make a plan for the long-term.

By taking actions that support your new mindset you’re building confidence and reinforcing any new habits. You’re creating new neural pathways, we’ll save you the science lesson, but this is what helps you create real sustainable change, yes really! Neuroplasticity helps to retrain your brain to set you up for success. 

  1.  Appreciate what you currently have 

There is nothing wrong with wanting more. It’s a worthy goal to want to be able to provide for yourself and your family, contribute to organizations, or secure a better living situation. However, if you only focus on what you don’t have without appreciating all you do have, it can make the journey a little more challenging. 

One way to start appreciating your current abundance is to start a gratitude list. You might list out how grateful you are for your house, the food in your fridge, your job, etc. The more you focus on the abundance around you, the more you begin to see more opportunities for abundance. You might receive a promotion or raise, or your side-hustle might start to gain traction because you’ve been showing up more. Plus studies show that a regular gratitude practice benefits you in a multitude of ways, so what do you have to lose? 

  1. Take a look at your social circle 

We saved the hardest for last. This can be a tough one, but it’s super important and not just for your money mindset but really your life in general. Are you hanging around with negative people or friends that are always talking about how broke they are, but never doing anything about it? It might be time to set some boundaries or make some changes. 

Seek out people you can learn from and are inspired by. Yes, there is more science and psychology behind this as well. When you are with people who make good choices and are striving to be better, you can’t help but fall into that rhythm too. The opposite is also true, when you are with people who complain a lot or make poor choices, you can also fall into that rhythm. So ask yourself, wouldn’t you rather be in a rhythm of success? 

When you start to make changes in one area of your life, you may notice other areas of your life begin to change and improve too. Mindset is a major component of success in all areas of your life. It may not always be easy and there will be days when you might feel discouraged or take a few steps back, but that’s ok! As long as you just keep going and remind yourself...I AM WORTHY! 

Let’s keep the conversation going! Tell us your tips for building a better money mindset or what idea above you’re going to try. 

Brandyce Stephenson

Brandyce is a writer, content creator and strategist for Worthy Financial.