5 Failsafe Ways To Influence Your Positive Wealth Mindset

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wealth mindset - character depiction5 Failsafe Ways To Influence Your Positive Wealth Mindset

 

According to the Wealth Distribution Pyramid half of the world’s net wealth belongs to the top 1%.

Of these high net worth individuals, only 16% inherited their wealth meaning a large percentage of the “New Millionaires” are totally self-made.

What does the wealthy believe differently about money?

In this article, we will cover how your money mindset actually affects your financials as well as some tips on how to develop a positive money mindset.

 

A Wealth Mindset Defined

A wealth mindset is a set of beliefs, habits, and accompanying behaviors that separate the wealthy from those with a poverty mindset. A wealth mindset will allow you to think about abundance and the role that money plays in life in a very different way from that which you have been taught to believe. This definition refers to the making of, spending, investing, and gifting of money.

How Mindset Can Influence your Financials

Many people struggle to make changes in their financial lives because they’re stuck in a fixed mindset. That is, you believe your financial situation won’t change.

It could be you believe there’s no way to increase your income right now. Or, you might feel like your particular skillset holds you back.

Whatever it is, this fixed belief of how your financial life is and will be can dramatically hold you back.

It’s easy to stay stuck in a fixed financial mindset; especially if you’ve been struggling for a long time.

However, the key to progressing financially is to develop a growth mindset.

With this, you open yourself up to the possibility of becoming more financially stable.

 

Changing Your Money Mindset Involves:

-Eliminating impulse spending

When you have a healthy money mindset, you’re less likely to partake in impulse spending. You’ll be careful about the money you spend, helping you to achieve much greater financial freedom.

With impulse spending, you don’t really think about whether or not you need the item you’re buying. It could be that you’re trying to make yourself feel better, or you’re just reckless with your spending. So, by training the brain to have a healthier relationship with money, it’s going to avoid overspending and making impulse buys you don’t really need.

-Recognizing self-sabotaging thoughts

Self-sabotaging thoughts can significantly impact your financials. These include statements you tell yourself such as “I’ll never get out of this debt” or “I’ll never make as much as I want to”. These thoughts can really hold you back. In fact, if you allow them to continue, there’s a good chance they’ll actually come true.

What you tell yourself makes a huge difference to your mindset. So, if you want to get better with money, you’re going to need to start replacing those negative thoughts with positive ones.

-Worrying about finances can make it worse

If you’re struggling with your finances, worrying about it is only going to make it worse. Worry doesn’t actually change anything, but it does add significant stress to your life.

The trouble is, the more you worry, the more stressed you become, which in turn affects your motivation and productivity. Consequently, you’ll be less able to turn the situation around than if you were to remain calm and focused.

-How you view money makes a difference

Did you know that how you view money can also make a difference to your financials? If you avoid money matters, worship money, or focus solely on money status, it could be really damaging your money mindset.

Instead of viewing money as the most important thing in life, it’s a good idea to view it as a tool. The less power you give it, the more positive your relationship with money will become.

These are just some of the ways your mindset can impact your financials. It’s common to feel helpless when it comes to improving our finances. However, this is often just a negative mindset you’ve got stuck in. If you can figure out how to change it, you can work on getting into a better financial position.

wealthy mindset

5 Failsafe Ways to Develop a Positive Money Mindset

Now that you know the importance of mindset when it comes to your financials, the question is how can you change it? If you want to become more financially savvy, you’re going to need to develop a positive money mindset.

The great news is, there are numerous tips and tricks you can try out to turn that mindset around. Here, you’ll discover 5 failsafe ways to develop a positive money mindset you can start using right now.

1. Forgive yourself for money mistakes

It’s hard to develop a positive money mindset when you’re fixated on your past mistakes. For example, if you’re in debt now, it’s pointless blaming yourself and beating yourself up.

You can’t change the past and holding onto it will only limit your future.

So, forgive yourself for those past financial mistakes.

You can’t change them and moping over them isn’t going to make your finances any better.

Let it go so you can start to develop a healthier money mindset.

2. Recognize and stop emotionally spending

Another way to develop a better money mindset is to recognize and stop emotionally spending. This means, not spending money to satisfy an emotion.

It could be that you use spending as a way to lift your mood. Or you could be spending money to try and impress others.

Not only is this dangerous to your financials, but it’s also not going to make you any happier in the long term. The initial joy you feel from the purchase is quickly replaced by guilt, shame, and worry.

Start to recognize when you’re spending money to satisfy an emotion. Then, you can figure out healthier ways to handle how you’re feeling.

3. Let go of limiting beliefs

Are you guilty of having limiting beliefs?

Many of us have limiting beliefs that we aren’t aware of. For example, do you tell yourself you’ll never be able to afford something? Or, that you’re limited to how much you can earn? These types of beliefs can really hold you back from reaching your full money potential.

You need to believe you can achieve something to actually achieve it.

So, instead of listening to those limited beliefs, start to tell yourself you can achieve all of your financial goals. Say it as your mantra every day until you start to believe it.

4. Don’t compare your finances to others

As easy as it is, it’s important not to compare your finances to others.

Just because you see someone you think is doing much better than you financially doesn’t necessarily mean they are.

That new shiny car they’re driving could be on finance, and the lavish lifestyle they’re funding could have pushed them into a debt they’re now paying off.

What you see isn’t always as real as you think it is.

Even if someone is doing better than you financially, that doesn’t reflect on you. Everybody’s situation is different.

You need to remember that no matter what your current financial situation, you can turn it around.

5. Start developing good money habits

Finally, a surefire way to get a positive money mindset is to develop good habits.

That means saving money where you can, working to pay your debts off, and not giving in to impulse buys.

Start with one habit at a time and be consistent.

You may find it takes a while to alter your negative money mindset.

The more you persevere, the better you’ll become at building up those good habits.

 

So, there you have it – 5 surefire ways to develop a positive money mindset:

1. Forgive yourself for money mistakes

2. Recognize and stop emotionally spending

3. Let go of limiting beliefs

4. Don’t compare your finances to others

5. Start developing good money habits

 

Remember, you’re going to need to be persistent when trying to develop new habits.

While each of the methods above can help, you’ll need to be dedicated to working on them for them to be effective.

A great tool I recommend to help you develop a wealthy mindset easily and effortlessly is Power Life Scripts:

 

Power Life Scripts for Affirmations and Visualizations

 

Related Articles You Will Love:

 

25 Money Affirmations that work Fast

Overcoming Limiting Beliefs About Money is Super Easy To Do

5 Powerful Self Improvement Tips for Everyday Use

 

 

 

5 Failsafe Ways To Influence Your Positive Wealth Mindset

 

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