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Smash your Money Mindset once and for all

Updated: May 13

AI Generated image of What is Money Mindset
AI Generated image of What is Money Mindset?

What is Money Mindset?

Money is one of the most powerful resources we have in our lives.

It provides us with a sense of security, helps us to achieve our goals, and allows us to live the life we want.

However, our relationship with money is complex, and our mindset can play a significant role in how we manage our money.

In this blog, we’ll explore the concept of a money mindset and how it can impact our financial success.

What impacts our Money Mindset?

A money mindset is the set of beliefs, attitudes, and habits that we have about money. It’s the way we think about money, how we approach it, and how we use it.

Our money mindset is shaped by our upbringing, experiences, and cultural background. It influences our financial decisions and can impact our financial success.

This is why in Episode 1 of the Money, Mindset and Business Podcast I share my story with money.

Starting with when I was younger and we were living in a council house and fully on benefits, at the time there was no issue with it, it wasn't until I started to recognise that others didn't live like I did that it became an issue.

Feeling like you are standing out from the crowd, different, and not fitting in can really damage a young teenage mind.

As teenagers, we are just finding out place in the world and understanding who we are, and what we are, so to be different to your friends/peers had a huge impact on me.

These thoughts and feelings of being different carried on into my adult life.

As a Trainee Accountant, I fell into the trap of societal expectations of the profession that I was in, tell me if I am wrong when you hear Accountant you instinctively think 'rich' am I right?

This is what I thought, and because that was and never had been me, I started to believe that I was not cut out for the profession, that I wasn't good enough, and that I didn't fit in with all of the others within my training course.

Why is Money Mindset Important?

Your money mindset can have a significant impact on your financial success.

If you have a scarcity mindset, you may be more likely to make decisions based on fear and anxiety.

However, if you have an abundance mindset can lead to financial growth and freedom.

What impact have my Money Mindset had on me?

Within my personal life and business life, these beliefs I had about money, and my own self-worth have caused many issues.

As an employee I have always worked where I have had just enough, never searching or fighting for more, which has led to me living on the breadline all of my life.

Then when came into the entrepreneurial world, I was charging myself out at the rate that I was paid as an employee, which when you think about it is ludicrous, as I now had all the costs and risks!

I left myself again with just enough money to cover my business bills without paying myself a penny!

However, all is not lost... you can alter your beliefs and create a mindset that will give your everything that you want.

The first thing anyone has to do to amend their mindset is to recognise that the reason why things aren't happening for them the way that they want them to is that there is something that they need to release to see what is right in front of them.

All Money Mindset is, is a bunch of beliefs that you have around money and your own self-worth.

Like in my story, I gained a belief that I didn't fit in, and that I was only ever worth 'just enough' it took a lot of self-reflection and self-development to alter these beliefs, and it has been around 18 months to 24 months to get to where I am right now.

Here are a few things that you can do to support this mindset belief

  1. Practice Gratitude: Gratitude is a powerful tool that can help you shift your focus from what you don’t have to what you do have. Take some time each day to think about what you’re grateful for, including your financial blessings.

  2. Visualise Your Financial Goals: Visualize yourself achieving your financial goals. This can help you stay motivated and focused on the outcome you want to achieve.

  3. Change Your Language: Pay attention to the words you use when you talk about money. Avoid negative language and focus on positive, abundance-based language.

  4. Focus on Abundance: Look for opportunities to create abundance in your life. This can include seeking out new opportunities, investing in yourself, and being open to new experiences.

  5. Educate Yourself: Take the time to learn about personal finance and investing. This can help you feel more confident and empowered about your financial decisions.

In Conclusion

Your money mindset can have a significant impact on your financial success.

By shifting to an abundance mindset, you can create more opportunities, take more risks, and achieve your financial goals.

Remember that developing an abundance mindset takes time and effort, but the rewards are well worth it.

Watch the episode on YouTube below

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