For many, money and the discussion of finances brings insurmountable amounts of stress. This is why so many people tend to avoid thinking about their finances, but doing so certainly won’t contribute to personal growth and professional success.
Achieving your dreams without paying attention to your finances will be incredibly challenging, which is why transforming your beliefs and attitude towards money can be very beneficial. By having a strained and tumultuous relationship with money, you could be repelling opportunities to help build your bank account!
If you’re feeling overwhelmed with debt, constantly worried about running out of money, or think you spend money quicker than you earn it, a money mindset makeover is needed.
Move on from previous financial mistakes
Remember when you treated yourself to a specialty latte every morning for an entire year? Yes, you likely burned through a lot of your extra spending money, but we all make mistakes! When it comes to finances and most other things in life, nobody is perfect. If you find yourself feeling down about the debt you’ve accumulated, think about the happiness that debt brought you — likely, you spent some of that money on dinners out with friends, weekend getaways, or trips.
Instead of dwelling on the past, focus on the income transition you’re about to go through, stemming from a change in your belief system. With time and effort, you will get out of debt and follow healthier spending habits.
Remember that comparison is the thief of joy
Whether it’s your coworker, friend, sibling, or someone you follow on social media, comparing yourself to others is rarely productive. It’s important to be thankful for what you have, and to constantly remind yourself that you are on your own journey.
You never really know other peoples’ situations, and there’s a good chance that they have their own struggles going on behind the scenes. Everyone has difficult financial decisions to make, which is why it’s crucial that you focus on your own financial growth and remain grateful for all that you have been blessed with.
Find enjoyment in budgeting
Think of budgeting like a game — every month, you’re challenged to responsibly allocate your income to the things you need. Avoid thinking of budgeting as confining and restricting, and think of it as boundaries that will allow you to achieve financial abundance. As a rule of thumb, set aside half of your monthly income for bills and then divide the other portion for spending money, debt repayment, and savings. Budgeting may also shed some light on spending patterns that should be addressed, like buying lunch every single day.
Stay focused on your financial goals
This money mindset makeover tip will require some thought. Think about your financial goals, prioritize them, and connect each of these goals to a motivation. It’s important to revisit these financial goals regularly as this can keep you on track. With a wealth mindset, you could be buying a home, paying off debt, growing your business, saving for retirement, or simply building a nest egg in case of emergency.
If you’re looking for support along your journey to achieving your financial goals, attend the Becoming Truly You Experience: The Ascension this month. This Atlanta-based event will provide attendees with a platform for enhancing personal and financial growth.
Work through your negative emotions surrounding money
It’s common to have negative money beliefs, especially if you grew up in a family that experienced financial struggles. A good way to address your emotions surrounding money is to write down every financial decision that you make over the span of a week. After jotting this down, write the thoughts and emotions connected to that decision. At the end of the week, go through your notes and address the financial decisions that stressed you out or made you feel guilty.
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