Money plays a significant role in our lives. It’s something we love when we have it, and we hate when we don’t. Most people have no idea how their thoughts and belief about money are affecting whether and how it comes to them. Often, people think the only ways to get money are by working hard for it, inheriting it, or winning the lottery.
There are an infinite number of ways money can flow to you. Yes, you read that correctly. If you stop dictating the only ways you believe money can come to you and start entertaining the possibility that it can come to you in ways you cannot even imagine, you will open yourself up to more abundance.
What is Money Mindset?
Your money mindset is your set of beliefs around money. These beliefs can be formed before we even enter this physical life (i.e., past lives, events taking place in the womb, at birth), and they continue to develop and change as we have different experiences with it. In the same way we have relationships with people, we all have a “relationship” with money.
We’re constantly bombarded with messages about making money, managing it wisely, and investing for the future. But amidst this frenzy of financial activity, there’s a crucial aspect that often goes overlooked: our relationship with money and the mindset that shapes it.
Think about it: how often do we stop to consider our attitudes, beliefs, and emotions surrounding money? We may work hard to make as much money as we can, meticulously track our expenses, pore over investment portfolios, and strategize for financial growth, yet neglect the very foundation upon which all these actions are built—our mindset.
Our relationship with money is deeply ingrained and profoundly influential. It shapes our behaviors, decisions, and ultimately, our financial outcomes. Yet, it’s a realm often overshadowed by the allure of material wealth and financial success.
But why does our money mindset matter so much? Simply put, it holds the power to either propel us towards prosperity or hold us back in a cycle of scarcity and limitation.
Money Mindset Affects Everyone: Rich or Poor
Even individuals with substantial wealth can be impacted by a negative money mindset. Consider this: someone with a scarcity mindset may constantly fear running out of money, leading to hoarding, over-saving, or avoiding risk altogether. I know this because I went through it myself.
In addition to being a Mindset Coach, I’m also a Tax Attorney. I currently only work part-time as an attorney, but when I was working full-time, I was making multiple six figures. I had more than enough money to pay for all the things I needed and wanted. Yet, I still had a scarcity mindset. I was constantly living in fear that something would happen, and I would no longer have money. I certainly had times in my life where I was living paycheck to paycheck, unsure how I would pay for things, but I always figured it out. I had not lived through anything (at least that I’m aware of in this lifetime) that would have instilled such great fear in me.
I learned about this mindset while on my journey to healing the chronic lower back pain I’d endured for over seven years. I spent huge amounts of time and money trying to find a solution, not knowing it was this mindset around financial scarcity that had manifested in my body in the form of chronic pain. When you look at a mindset and the reason you have it, there’s usually something about it that’s keeping you safe. I honestly believed this mindset had served me, more than it harmed me. It made me a meticulous planner with my money. It allowed me to feel safe when I thought of all the money I’d saved (which isn’t that much, by the way).
The reality is that it was harming me in so many ways I didn’t see. It was costing me my physical and mental health, freedom, joy, and it was preventing me from making more money. In hindsight, I can see the ways that the mindset kept me locked in the box of making the same amount of money I’d been used to. If I’d freed up that energy, I can see how I would have made so much more money. That’s why this work is important, even if you already have what you believe is enough money.
Within months of working on my money mindset, my back pain was gone. And money started flowing effortlessly into my life—I received a large sum of money (five figures), as well as many things of value. And no, nobody died, and I did not win it gambling or playing the lottery.
The Universe was showing me that when I change my mindset, the things around me start to change and I can have more abundance. It felt like magic! It is magic. You have the power to change what’s happening in your life by simply changing the way you think about things. It’s really that easy. The hard part is reprogramming your mind so that you have a mindset of growth and abundance, not lack.
Awareness is the First Step
So, how can we cultivate a healthy and empowering relationship with money? It begins with awareness—recognizing the beliefs, attitudes, and behaviors that shape our financial reality. You need to recognize where in your life you are expressing lack. This most often happens with time or money: “I don’t have time.” Or “I don’t have money” and “I can’t afford that.” Any time you focus on where you are lacking or don’t have enough of something, you are experiencing lack. And you are calling more if it into your life.
Have you ever heard the saying “Worrying is like praying for what you don’t want to happen?” It’s true. Any attention you give to the things you don’t want to happen (i.e., lack of time, lack of money, being unhealthy, lack of love, etc.) creates the very things in your life you’re trying to avoid. Everything is energy. Your mindset and energy dictate the things happening around you. If you focus on abundance instead of lack, more abundance, including monetary wealth, can come to you.
Where in your life are you expressing lack? Take an inventory and reframe the statements or beliefs into ones supportive of an abundance mindset. “I don’t have time” becomes “I am not going to make time for that.” “I don’t have money” becomes “I have money to pay for all the things I need.” These are just examples. The more awareness you have about areas of lack, the easier it becomes to change the beliefs.
From there, we can challenge limiting beliefs, redefine our relationship with money, and adopt a mindset aligned with our goals and values. Practices such as gratitude, mindfulness, and abundance affirmations can help shift our perspective from scarcity to abundance, fostering a sense of empowerment and possibility.
Ultimately, it’s not just about how much money we make or how we manage it—it’s about the mindset we have. By cultivating a positive and empowered relationship with money, we unlock the true potential for abundance, fulfillment, and freedom in all areas of our lives. So, let’s shift our focus from dollars and cents to the transformative power of our money mindset.
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