10 Ways to Change Your Money Mindset

Money StackedI’m often asked how to change people’s financial status. Love and money – those are the top two reasons people come to me for help.

Over the years I’ve compiled a list of basic tools you can start using now to change your money mindset. You either come from a poverty mindset or a wealth mindset. If you’re in a poverty mindset it’s time to make some changes. Just adapt one or two of these items to your life and see what kind of changes you make.

Here are 10 things you can do to change your money mindset:

  1. Understand time is more valuable than any other resource you have. I often say time is really the only currency we have, and when you begin to truly understand that you learn how to spend it differently. For example, early in my career I worked a part-time second job to afford “luxuries” like vacations and having housekeeper.
  2. Focus on wealth building rather than budgeting. Anytime I wanted something that didn’t fall within my immediate means, I figured out a way to earn more money. I didn’t choose to scrimp and save and sacrifice to make it happen.
  3. Spend your time engaging your brain, not mindlessly entertaining yourself. Most of my free time is spent researching and developing process improvement for my business and self-development personally. I cannot see sitting in front of the television for 3 to 4 hours a day losing that potential time for improvement.
  4. Invest in yourself. Whether education, coaching, or health you have to be comfortable with a financial outlay for you. If you fail to invest in yourself you tell the universe you are not worthy.
  5. Live within your means. Many many years ago credit card interest was in fact tax-deductible. If something is not within your means, DO NOT PUT IT ON A CREDIT CARD. Stop throwing away money.
  6. Think bigger. Stop living small. Your goals should make you uncomfortable, because if you’re comfortable you’re already doing it.
  7. Do what you love. I tell people all the time one of the smartest wealth-building strategies is to find a way to make a profit at what you would do for free.
  8. Stop looking at what could have been. Start looking at what could be. That means get your focus off of what happened in the past. I don’t care what your experience is or has been; if that’s what you’re focused on you’re never going to go anywhere.
  9. Put yourself first. If your life is spent meeting other people’s expectations and needs you have nothing left over to devote to you. If you focus appropriately on you, you have the ability for building unlimited resources to lavish on others.
  10. Surround yourself with successful people. You cannot be motivated, inspired, coached, mentored or educated to your fullest potential by people who are not living theirs.

Those are just 10 of my favorite tips. Pick one or two; adapt to new way of looking at things. It’s that new perspective that’s going to help you make changes. If you need help, find a coach, a mentor, or just read a good book; I suggest Think and Grow Rich by Napoleon Hill.

Small Business Owners: Are you making the kind of living you really want?

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One Comments

  • how to be mindful

    November 3, 2014

    Aw, this was an exceptionally good post. Finding the time and
    actual effort to create a good article… but what can I say… I put things off a whole lot and don’t seem to get anything done.

    Reply

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