enhance your money mindset with these 3 steps

In a world where there are so many things competing for your time and attention, how do you carve out the necessary time to tend to your finances? On average, Americans spend less than two minutes a day managing their household finances. In order to transition to a place of thriving, we must change our personal views of money. See the tips below and learn more about how to master your money mindset. 

Determine what’s most important to you

When you think about where you want to be financially, what comes to mind? Is this financial freedom, being able to pay your bills ahead of time or having the ability to take vacations throughout the year? Identify 2-3 financial goals and make sure everything you are doing aligns with the overarching goals. 

Drown out the noise – identify your “financial family”

Everyone will not understand the sacrifices you are making to secure your financial future. Honestly, you may be greeted with looks of confusion or lack of understanding from those closest to you. Don’t let this become a deterrent or a major distraction! Lean on the support from family and friends that have also set financial goals and are working toward them. This community can serve as an accountability group to keep you focused when things get tough. 

Unlearn childhood habits and forgive yourself

Growing up, many of us were taught that money was a scarcity – almost viewed as a luxury instead of a true resource. Take the time to write down any negative thoughts and opinions that you’ve subconsciously accepted as it relates to money. Replace these false assumptions with positive, affirming statements. For example: “I don’t make enough money to pay for that” should be replaced with, “I’m unable to afford it at this time, but it is not outside of my reach. My current financial situation is temporary.”

Build the habit of replacing pessimistic thoughts with encouraging, uplifting ones. This will drastically shift your perspective, leaving you empowered to continue on your financial journey. 

…and then try this:

  • Step 1: Set a specific goal with a detailed action plan (working backwards) on how to achieve it. Be as specific as possible; this will give you a great guideline and guarantee a successful follow through. 
  • Step 2: Create your ‘Future You’ identity and write it on 1-2 notecards. Make sure it’s placed somewhere you can read every day. On days where you need that extra dose of encouragement, think about how you will feel when you’ve achieved your goal. Visualize yourself already there.
  • Step 3: Recite your notecards before bed and in the morning, when your subconscious mind is most susceptible.
  • Step 4: Take action when your thoughts are most positive and you’re in a healthy space mentally. 
  • Step 5: If you’re not feeling the best, give yourself time to reset. If possible, refrain from making heavy financial decisions until your mental space has improved.
  • Step 6: Pay close attention to the words you are repeating in your head and speaking every day – make your statements positive and know your subconscious is always listening.
  • Step 7: Reaffirm your living space to reflect where you want to be. Post things around the house that continue to remind you of why your dedication to consistency truly matters.
  • Step 8: Share your personal goals with others (such as family and friends) that are important to you. Having accountability partners on this journey allows reinforcements to be in place when you may feel off balance.
  • Step 9: Don’t forget to keep up with your progress! Revisit your detailed action plan and get excited. You are so much closer than where you were when you started.
  • Step 10: Pay it forward – use the things you’ve learned on mastering your money mindset and share with those around you. You now serve as an example for others to follow. Help others to work their plan to thrive in their career and/or business.

Stay the course and stay well!

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, and serves as an Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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