Everything in life starts with your mindset – that is, in order to change something about your life you have to first believe that you’re capable of doing so and maintain a mostly optimistic outlook to get to where you want to be.
And your finances are no different. If you want to change your relationship with money then you need to work on your money mindset first, no doubt about it.
In this post we’re exploring what a money mindset is, and some killer money mindset tips to transform your relationship with money and your ability to manifest more of it. Let’s get stuck in.
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What is a money mindset?
So first things first, what is money mindset?
Well, money mindset is simply our mindset surrounding everything to do with money.
It describes our automatic thoughts, feelings, and beliefs about what money means to us, how we view our own finances, and how we view money within our society.
It is this money mindset that determines your relationship with money and, ultimately, your ability to earn more of it, hold onto it, and feel financially free.
In other words, if you have a negative money mindset then you’re going to find you have a very negative relationship with money. The problem is that this can form an unhelpful feedback loop that reinforces your negative beliefs about money!
But with a positive money mindset you’re going to have a much better experience with money.
Let’s look at some types of money mindset a bit deeper so that you can identify your own money mindset and whether or not you need to work to change and improve it.
Types of money mindset
When we discuss money mindsets, we typically categorise our mindset into two polar categories – a scarcity mindset or a wealth/abundance mindset.
However, I would actually argue that our mindset exists more on a continuum or spectrum, rather than exclusively in either of these categories.
There is so much more to think about regarding our money mindset than just whether or not we believe it is scarce or abundant.
And there is always work to be done to improve our money mindset and to bring ourselves more into a healthy mindset surrounding money.
However, it can be helpful to have some understanding of these categories so that we can see when we are leaning towards one more than the other, and identify any changes that we need to make in order to improve our money mindset.
With that being said, here’s how you can categorise a scarcity mindset vs an abundance mindset.
Scarcity mindset
A scarcity mindset is the mindset that money is a scarce resource that doesn’t come easily.
When you operate more in a scarcity mindset, you’re less likely to be able to call more money into your life because you believe that it is hard to do so.
This means that no matter how much you want more money or financial freedom, you’re likely to stay trapped in your current reality because your money mindset is holding you back.
Here are some ways that a…
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