How to Build a Healthy Money Mindset

Making money and saving money can be the cause of stress for many and is actually the #1 reason why couples dispute and divorce. This stands especially true nowadays, considering America has hit an all-time high in credit card debt. With money being a difficult topic to grasp or discuss for many, the future may be hazy or evoke fear. Of course, it doesn’t have to be or stay this way. There are steps and lifestyle changes that must take place in order to crack down on out of control money habits and superfluous spending.

If you’re interested in discovering financial well-being and building a healthy money mindset, follow and commit to the tips below. 

Tips for developing a healthy money mindset

  1. Understand what money is, your current personal relationship with it, and what you would like the relationship to be like.

Many believe that money can hold power. Afterall, it does open doors for you to do everything you would like to do, right? 

Well, the reality is that even though you can do anything, doesn’t mean you should. At the end of the day, you’ve got the power, so don’t let money run you. Allow yourself to tell the money where to go, when to go there and how much of it needs to go. Take time to truly understand all about money, whether its investment opportunities or simple savings, and build a personal, safe relationship with it where you still remain the boss. 

Remember to also be honest with yourself and outline your current habits and detrimental thoughts that you have been clinging on to that cannot positively propel you into the future.

  1. Value yourself first and foremost.

As John Assaraf mentioned in his “4 Valuable Tips for a Healthy Money Mindset” article, “The money results you’re experiencing are a reflection of your internal framework. When you change your mental blueprint and financial self-image, you transform your external results. When you value yourself first and foremost, you increase your deserving level through a self-worth vibration and resonance.” 

Implement an entrepreneurial and “millionaire” / “billionaire” mindset by always seeking urgent ways to improve yourself in the monetary aspect while putting a high value on yourself. Watch your words by substituting phrases like “someday”, “one day” or “in the future.” 

  1. Align your emotions with your goals.

At times it may be difficult to go against a want, but you must remember that it is not always what you need. Feelings can be deceiving and you must realign yourself to have every cell of your entire being to be working towards and for your financial goals. This where we distinguish between a financial need vs. a financial want/desire.

Take it one step at a time by saying or writing your initial intents out loud and then doing it. Don’t let your emotions take over.

  1. Pinpoint what drives you.

We’ll always need money for the typical life expenses, but truly pinpoint a big enough motive in order to take action on your goal/dream. Remember your goals and why you want to achieve them.

In order to always be goal orientated, it is best to write down your long term financial goals and monthly budgets as well as why you’re working towards them (i.e., save $2,000 for the flight to visit my parents) and display them somewhere you can see daily, almost constantly. Be as detailed as you’d like. Paint the whole picture to yourself everyday if you have to in order to snap your emotions back with your goals. 

All in all, in order to have more, aligned income, you must have the right mindset and know your limits. The same stands true for managing, investing and saving money. Once you implement these vital understandings into your life, you can start to work towards your ideal stable, healthy future. I encourage you to share this blog to help others build a healthy money mindset, as well as reach out to me for financial and organizational counseling and goal-setting.

Resources: RuleOneInvesting “4 valuable tips for a healthy money mindset”

The Fund Sized Life, “Creating a Healthy Money Mindset. Tips for Abundance”

CNBC “Credit Card debt in the US hits all-time high of $930 billion–here’s how to tackle yours with a balance transfer”

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