The Link Between Your Mindset and Your Money

The Link Between Your Mindset and Your Money

We all have our mindset about money. It often stems from our upbringing and what our parents taught us about money. The link between your mindset and money is a factor that influences your financial life.

More importantly, it comes down to either having an abundance mindset or a pessimistic mindset. 

For example, if you grew up in a low-income family, your parents might have taught you there is never enough money to go around. You may develop a mindset characterized by negative thoughts, fear, and scarcity. In other words, you think there’s only so much to go around.

However, if you grew up in a wealthy family, your parents might have told you that money is something you can easily obtain at any point in your life. You may develop an abundance mindset. As a result, you believe that there’s plenty of money for everyone. 

One way or the other, your mindset about money will play a huge role in how you live your life and how financially successful you are. 

The good news is that no matter where you are in life, you can take control of your mindset and create a better financial future for yourself and your family. 

How to Develop the Abundance Mindset

So how do you develop an abundance mentality? Here are some tips:

Change Your Narrative

Instead of saying, “There’s never enough money,” try thinking about how you’re already successful and the things you already have. 

If your mind is constantly focused on scarcity, then guess what? You will feel small, too. 

But if you train yourself to focus on what you have and not what you lack, your brain will seek ways to fulfill the promise of abundance.

Practice Gratitude

When thinking about money, practice gratitude first. Think about or write down two or three things you’re grateful for every morning or at night. Expressing gratitude is an important part of being happy and growing your wealth.

Keep Good Company

Surround yourself with people who have an abundance mindset and a positive attitude that uplifts you. You can’t expect to develop feelings of abundance if you’re spending time around negative people — because, most times, they have a mindset of fear and scarcity.

Take Action

Mindset is just part of the path to wealth. Take action by creating a budget, a savings plan, and a way to trim unnecessary expenses. 

At the same time, budget for things likely to bring in more wealth, like an educational course that teaches you new skills.

Related: Why You Should Always Have A Budget.

Having an abundance mindset regarding money and wealth will set you up for success monetarily and could also potentially propel you towards other positive things in your life.

By helping yourself out of a state of scarcity, you will activate a mindset change that can lead to better health, a more positive outlook on life, and greater peace of mind—not to mention a better shot at achieving financial security or wealth down the road.