How To Change Your Money Mindset with Good Practices That Work

Last updated on September 21st, 2024 at 10:28 am

 

People think about money differently which then implies that how to change your money mindset with good practices that work depends on one’s relationship with money.

Everyone wants to live a better life and of which if you talk about life without money, it makes no meaning to many of us.

The ears are always wide-open waiting to hear how best one can develop a healthy money mindset.

What about a financially healthy money mindset? it is about being just mindful of money say saving, budgeting, investing, and cutting expenditures.

But to achieve all that discipline you need to know how to change your mindset about money in the first place.

Most people who have positive money mindset exercises are usually financially sound but it all comes from a healthy mindset change with money.

You must first understand your financial mindset it’s not just about getting money like most blogs, articles, and books do put out.

True we all want to hear about money because most of the things we do in life are connected with money but to get money and keep it with you there’s something that one must know first which is the mindset about money.

Being with a positive making money mindset brings you closer to opportunities with money but where one has money beliefs that are negative it’s hard to fair play with money.

Don’t say you’re not blessed and who cares if you’re not, you’re rather hurting yourself but what you must know is, it’s your money mentality that is poor and not achieving your goals.

How To Define What Is Money Mindset

A money mindset is the special thinking you have about money built around your beliefs and attitudes in your life.

Though your big money mindset change begins with you it doesn’t stop there, it’s way beyond the way you currently see it with your money skills.

people can tell how your mind is programmed toward money depending on your expenditure patterns, savings, and investment portfolio in the long and short run.

Understanding your money mindset can be a way through which you can make better the actions taken towards money and here it’s good to get to the root cause of the negative thinking to wipe out in the best way possible.

So, whether the money mindset is positive or negative it reflects how you think or how to think about money at any one time.

If you have a broke mindset you will always feel not confident enough, not worth the opportunity, you feel insecure, and many other ways that push you far from money-related opportunities.

If you have a mindset that is positive all your thinking about money just sounds right for the ear with a BIG nice YES.

Your financial situation is just the way you think life should be even during hard times when you confidently share your financial stand with your family since it requires changing habits.

It’s no worries if it’s safe for the future other than stressing life when times are hard, this is good practice when it comes to your mind and your money for the best.

Therefore, your money mindset should be free and real about what’s going on in your life financially, even during the hard times you don’t lose grip you just adjust to the situation.

You’ll always make fair decisions if you have a healthy money mindset say taking a loan when it’s right to do so and clearing your debts in time though this is where most people fail and then question why they live in debt.

Why You Must Know About Your Money Mindset in Life

Your relationship with money shows your money mindset whether it’s good or bad. This will determine the way you look at money and its channels.

Nobody cares how you use your money given it doesn’t disturb other people’s peace and it’s up to you to determine whether to keep it with you or not.

Then here it comes that you have to notice how your mindset relates to money, your financial plans, and the way you interpret other people’s financial situations about yours.

The challenge that most people have is that it’s hard for them to control money and the opportunities around money, it’s then the reason why decision-making becomes complex with unclear money mindset tips.

But if you have a pure money mindset anything that concerns money is acted upon consciously, say spending within your limit and where necessary.

You won’t go for an expensive car because you got a salary increase from $10000 to $15000 per month.

I guess you might be mean talking to people about the challenges that you face in using money, right? Anyway not you, but this is something not easy to hide since still you’ll be judged by your performance now and then.

So, you can decide to keep it to yourself and then get hurt by your poor mindset, and yet there is a way out in which you can get help and come up with healthy money mindset questions when you open up to people around you.

Think about it, if you want extra money to buy those trending tight jeans or a baby t-shirt, you’ll try your best to make sure that you get those extra dollars with you.

have you ever thought about how money can change a human being positively or negatively depending on the circumstances in life?

Don’t get locked up in your past your money mindset can change if you decide to change it and nobody will change it if you don’t want to.

Get To Know How a Money Mindset Is Formed Now

I feel the word money mindset is stuffing this blog but we need to make it clear no matter what since the more I say it, it will make sense afterward.

Your perspective on money comes from the people around you that you relate with every day in your life and how you embrace them primarily.

We all come from different communities that have unlike money mindsets and here what happens is, we’re differently affected by these mindsets be good or bad but the result is what matters to us.

What you learned from your parents is what we might be seeing now though it happened years back when you were still with them under the same roof.

Don’t be shy if there were a lot of negativities with money that affects you now, feel free it’s time to crash it and if they were positive are you doing it right?

Some families fear even talking about money since it even makes them feel not worth discussing money issues, but if you want to overpower an enemy you should face him instead of keeping away.

If the enemy is the poor money mindset, then you have to accept it such that you can find ways in which to make things better by adopting a healthy mindset practice.

Nobody is to blame for your wrong money mindset whether your parents or other people that you have been living with, it’s now your turn to play your cards right if you master your money mindset.

All you’re going through even other people have gone through it and the way they now look at finances it’s different, what about you?

Am sorry to ask again, but how do you feel when you see your colleague getting better with money every day yet your progress is still poor?

How I think, I assume you feel demotivated but it doesn’t save you unless you accept changing your money mindset.

And it should be by feeling good for other people’s progress which will make you even learn from them the best mindset practices.

A positive or negative money mindset that you have is linked to the marriage relationship that you have, the immediate neighbors that you had, the schools that you went to, and what you heard most from people talking about money the list is endless.

You Can Change Your Money Mindset in These 7 Ways

Money mindset can be changed anytime in your life and you can tell that something has changed.

If you’re an adult you have memories of how good you were if so at shopping way back at your parent’s house and they trusted you in that, I guess.

But it doesn’t mean that you were very concerned about your mindset it might have been your actions that then made you a better person at just that.

You might have now developed maturely with a lot of discipline about money but usually, from the start, it’s always not easy for most people with these sweet figures that most hate in school.

With a clear mindset when it comes to money sometimes you have to think in advance to plan for your income and expenditures for example, you decide on what to buy or not and how much to save for your plans.

This is what most people don’t like if they have an uncontrolled mindset of not working on a budget yet it’s good at showing you the right path for your money.

Let me clarify this, spending on a budget could also be done wrongly in that some people may exhaust their paychecks on non-basic items though put on a budget and this isn’t what you want.

When one has a positive money mindset in life even in times to spend, he or she is mindful.

Let’s assume you plan for a drink up with your longtime friends who’re so positive about money, the discussions will be about the best money practices.

And so, those who’re too mindful of money won’t spend beyond the agreed limit but others with a poverty mindset will do the opposite.

You will find it hard to convince a healthy mind to act against the usual money practices hence such people set a threshold in different situations and that makes them feel they’re in control while on budget.

It mayn’t be that easy for you to dive into budgets and limits at this time but there’re some ways in which you can kick start the journey a lot easier to allow you to change the mindset that you have with money. So, here we’re

• Through Money Affirmations

Up to now this is one of the best practices that I also personally use to envision the best ways in which I can do well with my finances, it keeps me focused with a positive mindset.

Talk well to yourself like today am making more money, this year am cutting my expenses, I will always stick to my budget, I do luxuries only when it’s necessary and many others to keep you positive.

There’s no hidden trick about talking good to yourself though it works like magic due to its amazing benefits where you just find that you always get better when you keep practicing.

I mean that if you had a poor money mindset related to spending you then surprisingly see that your expenses are cut and your account gets better since you decided to withdraw from the poor mindset.

The affirmations will work if you also put in the action every day such that you can keep positive throughout your life with a positive money mindset. Do it as many times as you want if you’re really after success and growth.

• Believe That You Can

It’s your past that makes you think you can’t which kills your confidence about money with negativity, with all this, it might be hard for you to change your mindset about money. But then who’s responsible for the change?

If you fail to believe in yourself then it’s your past behaviors that are controlling even up to now and will keep in charge of your life thus living miserably with a poor mindset.

The truth is you will continue believing that since you come from a poor family then that shows that you can’t make a difference.

So, you see people making big losses in investments in the financial markets then you also say you can’t put your money in any investment and it’s just that you don’t believe in yourself.

I say it again, who do you think can change your money mindset? It’s only you who can do what others failed to do though you might not be very educated or even not at all but at least you can read this blog it’s just enough.

Don’t underestimate the power of believing in yourself if it’s about money, such that you can adapt to the right behaviors about money, I know it’s kind of hard to adjust but that’s the way to go.

With time you will continue surely to believe in yourself when you start seeing results though they’re not immediate as you would want them, when you continue believing in you expect a difference in how you think about money.

• Let Go of Your Past

It’s normal to have a paycheck at the end of the month but it’s not true that you can’t survive without depending on a paycheck.

No doubt people get paychecks every week or at the end month which is fine and still many have done great things out of their paychecks and got rid of living a paycheck kind of life by saving and investing wisely.

Since some people saw their parents live a credit card debt kind of life surely believe that it’s impossible to get out of it and which makes them think they will also never have an extra in their accounts.

If until now you believe that since your parents lived a credit card debt kind of life and that is the path you’re taking, then it’s your choice but if you say no to it won’t stick to your mind and you can do better.

You used to hear most people around you say that you can’t live without debt which might be true but how true is that in your life now that you’re living the reality?

Most of us have had debts in reality but the discipline you have with money puts you in a position where you belong that’s the fact, you can be debt free if the money mindset is changed to think fit with money.

Maybe you’ve seen many people in the past pass on without reaching their money goals which is why you don’t think about saving and long-term investments thinking that you’ll fail also to get there.

Death is a must and you can’t stop it when your time comes whether you save or you don’t save, whether you invest or you don’t invest.

Many people have saved and invested for many years but they are still alive now and doing better than before.

It’s therefore your choice to decide whether to live with a negative money mindset throughout your life or to change it to work in a way that can make you live a good life.

You’re not any different from those that are doing it but it’s just the mindset about money that you need to change such that you can save, invest and grow your wealth to secure your future.

• Always Try to Question Your Actions

This is not being so strict about you but it’s being mindful whenever you intend to do something. You can very well develop a healthy money mindset whenever you have reasons as to why you spend, save and invest.

If you take some time to look into what you’re going to do it’s best practice, most especially things concerning money.

And you know what? understand that sometimes not doing something is doing something say buying what you don’t want.

So, whether you want to buy something you need to question or want to get a bank loan ask yourself why? your financial situation is alarming question yourself, you may be planning to save, and in reality, it is boring that’s the fact. But the fruits are really sweet you can’t believe just try it out.

Questioning yourself is a very powerful trick because you’ll stop deciding uncontrollably which will help you make wise decisions with your finance hence developing a healthy money mindset over time.

The things you didn’t focus on before are prioritized because at first with poor practices our finances are easily eaten up by things that we should think about last say unnecessary luxury spending.

Therefore, when you open to the real world and question, the propensity to save and invest will be high which then makes you meet your future financial goals in time.

It’s very simple but it has failed many and changing your mindset about money is a journey that you don’t have to move halfway.

You can do a lot of great things with the right mindset in your life and in that, your goals will be met given you emphasize questioning your actions throughout your money life.

What normally happens is this, you’ll put up emergency savings, clear your debts in time to be debt free, invest for the future and also cater to children’s education early enough which implies you’re financially safe and decisive.

• Make Use of Motivational Finance Books

The mindset that you adopted could have come from people that are not professionals in money practices and what you need now is expert guidance.

There’re some detailed finance books that you can use to give you a broad perspective on money and then change what could be the wrong thinking that you have about it.

Some of the books that you can use to help you work on your mindset with money include a switch on your brain by Caroline leaf, love your life not theirs by yours truly and 7 habits of highly effective people by Stephen covey.

Don’t accept to be the same person next year as you’re today let finance books open up a new world for you today then ensure you meet the right people to guide you financially.

And you can’t be the same person when you believe in changing for the better, that tells you that even a broke mindset can be surely transformed and live right.

Reading these books by experts you’ll know that it doesn’t need much to get good at money matters as others think but you just have to get control and this enables you to do things yourself without any challenges in money.

• Commit To Financial Freedom and Stability

Don’t mind about your background all you have to do is focus on how you can get financially free and standing in your lifetime, but if you’re not committed to doing what it takes you may walk half the journey and then give up.

Nothing is going to come easy but you stick to your goals and as you push further things will get easier than you can imagine in the long run.

I also once saved but before reaching my target I withdrew the money though later on I made it and now with saving always meet my target.

You could have started a business and it’s not performing as you wish, the solution isn’t closing though you know in your family there’re no business models just stick to it then find out where you’re going wrong.

You can apply this in many situations in life so you don’t waste time moving from one idea to another, you may then fail to achieve your goal because you don’t stick long enough to the strategy you use to give you an edge.

It’s true that when you commit yourself, you’ll stick long enough to the goal say saving and investing which pays you in the future.

Being financially free and stable can only be achieved when you commit to your goals with a clear-headed money mindset.

• Be Thankful and Mind What You Have in Life

Even though you don’t have as much as others it’s not being fair to you to feel out of place, this at times makes one spend unnecessarily when he gets some money to get recognition.

Instead of focusing on what can change life to become better, you end up wasting time on what others have in life competing with them.

It’s natural you won’t feel good about yourself and this happens to most of us believe it or not, I know you can’t control it coming but you can accept it and then deal with it in a way that, it’s not you alone everyone feels it and this will relax your mind for the best.

Finally

You can decide whether to change your money mindset or not.

And next year you won’t be the same person you’re today or you’ll still be the same person you’re today who has not read any motivational blog, or finance book or engaged the right people.