Are you tired of experiencing financial hardship, fatigue, and being overwhelmed with work?
Feeling like you have been trapped at the same income level for years?
The sole requirement for becoming a prosperous and empowered business owner is to address your money mindset.
What is the only thing that should be done?
Indeed.
Once you change your money mindset, everything else will align accordingly.
You can have a strategy or create a to-do list, but if you lack a strong money mindset, your business will be sabotaged.
Regardless of your current situation, it doesn’t matter where you are right now. This applies to both individuals who are in the early stages of their journey and those who are experiencing financial success in their business but are feeling overwhelmed.
When your mindset regarding money changes, everything undergoes a transformation.
What is Money Mindset?
Every single day, you most likely witness money mindset issues being demonstrated.
It’s highly probable that the difference in success between one of your friends who is incredibly prosperous in their business and another who consistently works long hours and faces continuous challenges is primarily attributed to their mindset regarding money.
Your beliefs about money can exert a significant impact on your life.
Your perspective on money, wealth, and success is shaped by a collection of beliefs that you have developed since childhood, known as your money mindset.
This one-of-a-kind set of beliefs, which can be so individualized that even siblings can have different money stories, impacts all aspects of your finances, including saving, spending, and money management. Furthermore, these beliefs also manifest in your business. Continue reading to discover more.
Healing generational issues around wealth constitutes a significant portion of the work involved in clearing money blocks.
Money stories come in various forms, yet they all share common themes that ultimately reflect our identity and the narratives we have embraced concerning money.
Understanding Your Money Mindset
Your money mindset today is influenced by all of your experiences throughout your life, starting from when you were very young.
When reflecting on your own childhood, what emotions did you experience regarding money?
Did your mom conceal the purchases of new clothes or shoes from your dad, because she was not permitted to spend money?
If this is the case, you likely experience guilt when spending money on yourself, or potentially engage in the same behavior by concealing expenses from your partner.
Did your family experience alternating periods of abundance and scarcity, where you would enjoy extravagant indulgences for one month, only to have to make do with old clothes in the following month?
Perhaps you find yourself engaging in repetitive patterns. For instance, one week you splurge on champagne only to end up accumulating debt the next week due to everyday expenses such as groceries and bills.
Do you perceive the need to put in significant effort to earn your income? Do you hold the belief that only through hard work can one achieve financial success? Perhaps you tend to delay tasks and then resort to staying up all night in order to convince yourself that you deserve to earn money.
How Is Your Money Mindset Formed
From your earliest memories up until today, your money mindset is shaped by your experiences with money and success.
The belief system that you most likely still carry as an adult was shaped by the way in which your parents or caregivers talked about money while you were growing up.
By considering your family’s money story, you can gain insight into how your own money mindset has evolved. This is known as your Origin Story, which provides valuable information about your current approach to handling money matters.
Did your family have a motto about working hard or money? What was the arrangement for pocket money in your family like? All of these fundamental experiences have the potential to influence your beliefs and self-value within the business realm.
Types of Money Mindset
The money mindset can be categorized into four main types.
The mindset of abundance is about thinking step by step.
Having an abundant mindset means feeling lucky enough to believe that there is an abundance of everything, from money to love, business opportunities to success.
If thinking step by step doesn’t come naturally to you, there are methods to strengthen your abundance mindset muscle.
There are three methods to develop a mindset of abundance.
Step 1: Create a list
Create a comprehensive inventory of all the things present in your life that inherently bring a sense of wealth and abundance.
Consider the possibility that you currently possess an exceptional dwelling, enjoy a wonderful connection with someone, and maintain excellent physical well-being. Compose a record enumerating all the aspects in which you already possess ample abundance and good fortune in your life.
Having that list will instantly improve your mood and help you gain some perspective.
Step Two: Modify Your Thinking
Have you ever observed that when you are experiencing a strong sense of positivity and abundance in your business, that’s when an influx of clients tends to occur?
Alter your current thoughts and emotions without incurring any expenses.
Follow these steps to create a luxurious atmosphere: ignite your high-end candles, utilize specifically designated guest towels, adorn yourself with makeup, perfume, and those fancy outfits you have been reserving for a special event.
Step number three involves taking action.
Start implementing the income-producing activities that you can today and begin putting them into action.
You might need to follow up with certain clients who have outstanding debts to you.
Maybe you should consider generating an offer.
Witness how effortlessly you can alter your perspective on money, transitioning to a mindset of abundance.
b) Adopting a mindset of scarcity.
If you have a scarcity mindset, it means that you are experiencing a sense of insufficiency. When it comes to money, having a scarcity mindset can make it challenging for you to earn or retain it.
If you possess this quality, you might experience envy towards the achievements of others or feel as if there is always a scarcity of resources – be it money, success, or anything else.
An alternate way of expressing this text while maintaining the same meaning, without adding or removing information, is as follows: It can also appear in the form of anxiety. Maybe you perceive yourself as inadequate, thinking you are undeserving of accomplishment.
Beginning the work of breaking free from this scarcity mindset is of utmost importance.
Do not be concerned, as I have tools and tips available to assist you in developing your wealth mindset.
c) Adopting a positive attitude/ mentality
Operating from a positive mindset involves focusing on the positives in life, which can make life feel easier.
Are you the type of person who always looks for the positive side in any situation? Your focus is on the good aspects and you typically have an optimistic perspective.
You anticipate positive outcomes coming your way.
As we work through how to change your money energy, the positive mindset you have cultivated will be very beneficial to you.
d) Having a mindset of a millionaire
Becoming a millionaire typically only necessitates a change in mindset! Isn’t that fascinating?! You might just be one adjustment away.
I have four keys that will guide you in adopting a millionaire mindset. These four key beliefs and affirmations can be utilized to assist you on your path towards achieving millionaire status.
First of all: There will always be additional funds available.
In our world, there is always enough due to the abundance we have.
Opportunities are always plentiful.
There are endless ideas available at all times.
If your practice business didn’t work out, it doesn’t mean you’ve failed as an entrepreneur. Consider the numerous Virgin offshoots that Sir Richard Branson has attempted, such as Virgin Brides or Virgin Cola. If one idea doesn’t succeed, there’s always another waiting for you.
The world possesses abundant resources and there is always an abundance of money available.
Number Two: There exist simpler methods to earn money.
I have a mindset affirmation that states: Making money can be done through simpler methods.
When pursuing the entrepreneurial dream, we frequently choose the most challenging path.
Perhaps you are making things more complicated than necessary; maybe you are entering the wrong field, attempting to assist the wrong individuals, or chasing after a business that is not suitable for your abilities and gifts.
To find a path of least resistance, you simply need to identify it.
The third point is to have self-awareness and thrive.
Discover your own unique abilities and utilize them to build the life and business you desire.
I carefully consider each step, ensuring that it aligns with my personality and minimizes any unnecessary obstacles or difficulties. I am aware of the importance of finding a logical path that suits me and avoids going against my nature.
To start, it is important to have a clear understanding of your own identity. Next, it is crucial to fully embrace this, acknowledging that your unique personality aligns perfectly with both yourself and your business.
Self-acceptance proves to be significantly more advantageous compared to self-help.
You are sufficient. Just the way you are.
Number Four: You resemble a wealthy individual.
Suze Orman, a highly influential speaker, took to the stage and made a deliberate and slow declaration, “I am an incredibly affluent woman, addressing you all today.”
Bragging is usually viewed negatively, but what made Suze’s statement particularly powerful was its straightforwardness and lack of remorse.
Grant yourself the freedom to embrace wealth and accomplishment, just as you currently exist.
Identifying your money stories and limiting beliefs is a part of the process of working through your money blocks and shifting your money mindset.
The majority of individuals hold a preconceived notion of how someone who is “rich” appears.
In reality, what a wealthy person resembles is YOU.
Here are my top four lessons on developing a millionaire mindset. It’s as straightforward as that!
7 Signs You Need to Work On Your Money Mindset
Every one of us will experience a wake-up call regarding money at some point in our lives.
Do you ever have the sensation that you are held back from success by an imperceptible barrier?
Perhaps you have remained at the same income level for an extended period of time!
Perhaps you are convincing yourself that you are currently too occupied or that money doesn’t hold much significance to you.
Perhaps you have mixed emotions regarding wealth, fearing that it may not be suitable for you or that you will have to compromise your values in order to attain sufficient financial means.
If you have been putting in maximum effort but are still unable to achieve the financial breakthroughs that you believe you can attain, it is essential to change your approach. You must reset your mindset about money.
If you’re struggling with undercharging in your business and finding it difficult to understand why it’s so challenging, I have some possible solutions that could help you unravel the mystery.
Here are 7 signs indicating that having a money mindset is, in fact, the essential next step.
Reason 1: You are aware that it is currently your time.
Every year, you establish ambitious goals with the expectation that this will finally be the year when all your aspirations materialize.
You might have a book or a course that is nearly completed, sitting on your computer, but there might be something preventing its progress.
Every day when you wake up, you believe NOW is the opportune moment. However, once your earnings fail to align with your intellect, potential, and the contributions you bring to the world.
You’re growing weary of depending on others to select you or consider you eligible for earning a higher income.
Reason 2: Despite your love for personal development, the money has not yet manifested.
Right now, you might be experiencing the feeling of being a fraud because you are performing all the correct actions, yet you are not achieving the desired results.
It is highly likely that you have a dream board and regularly write down your goals, indicating that you are a positive individual. Chances are, you have explored a plethora of abundance books, yet you still have a sense of something crucial missing.
Feeling unjust and being truthful to oneself, it is common to have sabotaging money behaviors that seem unchangeable.
Reason 3: If you suspect you’re worth a lot more, it’s because you don’t earn what you deserve.
The idea of ‘charging what you’re worth’ is negatively perceived. While you are undoubtedly valuable, it’s important to acknowledge that your business has a different monetary value.
Every day we encounter individuals who are actually not setting a proper price for their services.
They are aware of it, yet they have a sense of helplessness regarding taking any action. While you may also be aware of it, you consistently receive feedback indicating that you are too costly, even though you are well aware that you are actually significantly underpricing. Typically, this is the issue at hand.
It is frustrating when you undercharge since it attracts clients who will never be satisfied, which is energetically draining.
Reason 4: If you aspire to live a luxurious life, but are currently restricted to a lower-class lifestyle.
I have personally experienced it and it is terrible. You are tired of making concessions in various aspects of your life, such as your residential location, clothing choices, or mode of transportation.
It can be tiring having to provide reasons for every amount of money spent – wouldn’t it be great to be confident that you can continually earn more money? You observe other business owners swiftly growing their income and you feel a bit envious that it’s not happening for you. It’s alright to acknowledge this fact.
Reason 5: It is already known that you require a money mindset makeover.
This might not be your initial encounter with my work or reading my blog.
There may come a time when you find yourself needing to resolve something, possibly resulting in feelings of anxiety or worry. Discussing financial matters with an accountant or any authoritative figure may make you feel uneasy or nervous.
If you find yourself sitting and delaying the task of sending out invoices, it’s quite common for people to admit their fear regarding money matters, especially when it comes to discussing it or requesting payment.
The practicality of money manifesting may surprise you, as it does not involve simply making wishes under the full moon while lighting a candle. Instead, it entails conducting a practical assessment of your previous experiences and thoroughly examining your beliefs and habits regarding money.
Reason 6: The sensation of pushing money away is experienced by you.
Perhaps you have a fluctuating relationship with money, experiencing either abundance or scarcity. You possess the ability to generate wealth swiftly in times of necessity, yet it lacks predictability and entails significant personal repercussions such as stress or exhaustion.
It can be really frustrating to always go two steps forward – one step back when you have a good month, due to the frequent occurrence of unexpected bills or fines that end up wiping it all out.
Reason 7: Although you desire to increase your earnings, you are also experiencing apprehension.
Even millionaires experience surprise when they realize that they too have fears. The presence of fear does not diminish when one earns more money or changes their mindset about money.
Due to your grand vision for your life, you might find yourself fearful of your own potential. There are moments when you fret about the repercussions of achieving true wealth, fearing that it could somehow have a negative impact on you or that you might inadvertently undermine it.
- You worry about tax bills – you worry about getting into trouble.
- You worry about losing your privacy or safety.
- You worry about friends and family asking you for money.
- You worry that it’s actually going to be a huge negative experience.
Do you notice these conflicting things and how much they are limiting you? It is quite common to experience this.
Here are seven significant signs indicating that you should focus on improving your mindset towards money.
How to Change Your Money Mindset
1. Read books that will influence your mind in a positive way.
If you want to give your brain the opportunity to change and develop, take the advice of leadership speaker Charles Jones: “You will remain unchanged in a year, except for the individuals you encounter and the books you immerse yourself in.” Therefore, picking up a book is the key.
2. Think about your life up until now and ask yourself:
- What did I hear and see about money growing up?
- What’s one thing my parents did with their money that I want to replicate?
- What’s one thing my parents did with their money that I want to do differently?
In your journal, record your responses by rephrasing the given text step by step, ensuring the meaning remains unchanged. Specify the alterations you have made without introducing new information or omitting any existing information.
3. Give away some money.
When thinking in a logical manner, restate the following passage without altering its meaning. Refrain from introducing fresh information and do not eliminate any information. Engaging in giving is the most enjoyable way to utilize money. Moreover, it is a verified method for altering one’s perspective on money, transitioning from self-centeredness to selflessness. I understand that you may initially have reservations or perhaps not take me seriously. However, I encourage you to give it a try! Dedicate yourself to contributing a portion of your money to assist an individual or an organization in need once a week.
4. Dream about your retirement.
If you can envision your future life in clear detail and use it as inspiration while preparing for retirement, you will be motivated to achieve your goals. Chris Hogan, a bestselling author and my friend, suggests that having a clear vision of your dream and focusing on it will give you the drive necessary to reach your financial targets.
If you are still in debt or do not have an emergency fund, it is still highly motivating to have a vision for your retirement. Allow that dream to inspire you to work towards a point where you can invest at an even faster pace.
5. Have the belief that success is possible for you.
Regardless of your race, religion, or level of income, you possess the ability to achieve success. As the Backstreet Boys once philosophically sang, it doesn’t matter who you are, where you come from, or what you have done. While individuals may encounter varying degrees of challenges, the initial step is to believe in yourself. Your actions will align with your beliefs, facilitating the adherence to positive habits. Ultimately, your overall outlook will gradually improve.
