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Your money mindset is made up of all of the beliefs and feelings you have about money while growing up till now. When it comes to money, having the right attitudes and framework for how you should be thinking about it is the foundation that you must first understand correctly for you to be successful. To develop a positive money mindset, you can begin by taking the following actionable steps:
Identify Your Current Money Beliefs
Whether you realize it or not, you already have money beliefs that influence the way you think about money and the world. These beliefs might be a result of something your parents taught you while growing up as a child. And if you’re finding it hard to identify what your current money thoughts are, write it out. Pick up a notebook and spend some minutes writing down everything you can think of about money. And the moment you’ve identified what your current money beliefs are, you’ll then start to identify where those beliefs came from and you’ll see the possibility of changing whatever wrong beliefs you may have about money.
Define Your Financial Goals
Before you can get to where you want to go, you have to start by identifying where you’re going. For you to do this, you have to simply ask yourself: What is that I want to accomplish in life when it comes to money. Then move on to writing down the goals you think about achieving with money. Doing this makes them more attainable for you as you put down the steps you need to take to achieve them. And then celebrate the wins and update your goals as you reach them.
Develop and Maintain Good Habits
Having clearly define some goals for yourself, it’s time to establish the habits that will ensure you meet them. If you’ve never really delved deep into your income and expenses or created a budget, this may be a good time to try that. By understanding where you’re spending your money, you will begin to determine where and how you can save more, if that’s your goal.
Build Healthy Relationships Around You
One of the simplest steps that you can take is to begin building a healthy relationship with money by surrounding yourself with others who are already living by those values. You are the average of the five people you spend the most time with, so when you actively absorb content created by those who are already deep in a strong money mindset, you’ll naturally adopt those qualities as well.
Find Positive Examples to Follow
Look for good information you need to have about money. Find good personal finance books that are available online or in your local library and also learn from good finance blogs. And then begin to think about how you can start applying what you learn to your daily life.
Finally, practice daily affirmations and gratitude for what you do have. You can start off by writing down one thing every day for which you are grateful (financially and personally). Sometimes, the simplest positive practices you keep can make all the difference. Overcoming a negative money mindset is not an easy feat. However, your success is dependent on what you perceive you can achieve. That’s why developing a positive money mindset is important!
