How To Have A ProperMoney Mindset

You’ve heard of the money mindset but the what you have to know is — ‘What is the Money Mindset and how can we develop a proper one?

A money mindset is an attitude that you have towards how you see, feel and spend your money.

Every financial decision you make is base on that mindset, and it can have a big impact on your lives. The truth is, a money mindset can either keep you poor or make you rich.

Everything little thing we do in our lives, every decision we make all happens because of the mindset we choose to have.

Ever wondered why some times we make poor decisions and other times we make great decisions?

Well, that is because of your mindset.

So if you find yourself feeling rich one day and then broke the next 30 days. Your money mindset is at an imbalance and you need to make a shift before you can even start thinking about the car you want to buy.

So here are some thought shifting ideas to have a rich money mindset.

If you want to know more about this, you can always do so by studying the rich. They have got it figured out.

Cut Emotional Spending

You and I have been guilty of this. There are times we let the emotions get the better of ourselves and end up spending more than we could afford.

It probably happens at a low point in your life. It could be a loved one’s death, a broken heart or a loss of a job.

Another form of emotional spending is when you are too excited of something that tips you overboard. This could be times when you get a promotion, strike the lottery, got married and the list goes on.

Either way, you will always end up spending more. Yes, it is important to celebrate certain winnings in life but is important to know your limit and not go overboard.

One of the great money lessons — “is not about how much you are making but how much you are spending”

So if you are always spending your money emotionally, then you won’t get anywhere close to your financial goals.

Have A Direction

This is crucial if you have a financial goal in mind. For example, you want to have $100,000 in the bank by end of next year.

What you need to do now is to map out how you are going to reach that goal.

Are you going to take a specific job?

Are you going to invest?

Are you going to save a certain percentage of your income?

See the problem is most people have this big dream of the amount of money they want to make, but how many of them actually have a plan?

Answer: less than 10%

So whatever goals you have, make sure you have jotted down a plan on a piece of paper, and make sure to place that paper somewhere you can look at it every day.

Constantly reminding yourself of that goal and make a commitment to see it through.

Change Your Money Language

This will take some time for you cultivate but it is absolutely necessary. Instead of saying sentences like “I can’t afford this”, say “ How do I afford this?”

Just by a simple change in the statement can bring a whole new world for you. When you start asking yourself “how” instead of “I can’t”, your mind will be put to work and find whatever ways it can to help you buy the thing you want.

Steve Harvey said and I quote — “I do not live within the confines of my paycheck”

What this means is, if your paycheck is $2000, you don’t go living like you only have $2000. No. You start looking at cars that cost $200,000. Why?

Because if you keep telling yourself that you are a $2000 man then that’s all you are ever going to be.

On the other hand, if you would just ignore the number on your paycheck, and start looking at yourself as a $200,000 man — then that is what you will be.

So the next time you see something you know you can’t afford. Start asking yourself,” How can I afford this?”

This works wonders. Try this for 30 days and see the shift in your mindset.

Those are some simple 3 tips to keep in mind. Having the right money mindset can make a change in your life.

You can go further by buying books that can help stimulate that mind of yours.

A great book to start with — “ Rich Dad, Poor Dad by Robert Kiyosaki”

It is one of the best financial books out there, and it can definitely shift your mindset tremendously after reading it.