What is your relationship with money like?

Do you find yourself associating it with negative emotions — like guilt, fear, shame, stress, and anger? 

Or do you feel rich, financially secure, and ready to open your bank account at a moment’s notice?

Whatever the answer is will give you a lot of insight into the current state of your money mindset…and believe it or not, how much you make has very little to do with it at all! 

All of the thoughts, feelings, and beliefs you associate with money (especially the subconscious ones) contribute to your money mindset. Your financial habits are all rooted in this mindset, as is the way you approach saving and spending. 

So, what does this mean?

Your money mindset will fall into one of two basic orientations toward money: scarcity or abundance.

A scarcity money mindset is the one most adults are familiar with — you know, getting caught in the endless rat race of trying to pay the bills and still have enough left over to enjoy yourself. People in a scarcity mindset always feel “broke.” 

And here’s the kicker…a lot of people who fall into this mindset think they feel this way because of their financial circumstances. For example, a person with a scarcity mindset might say, 

 “Of course I feel broke…I never have enough money to go on a vacation” — without realising that this very statement is actually contributing to their scarcity mindset and cementing the belief in their head that they will never have enough money to go on vacation!

Now, let’s take a look at the other side of things.

If you have an abundant money mindset, you’re going to look at the glass as “half full” when it comes to money. You always appreciate what you have (even if it isn’t much) and you feel confident in your ability to make and receive enough money to live the life you want to live.

Somebody with an abundant money mindset might think, “I don’t have a lot of money right now, but I know there is money coming my way, so I’m totally relaxed about it.” The idea behind an abundant money mindset is knowing that there is always enough money and there will always be more money.

The good news is that mindset can be improved and shifted, so if you identify more with a scarcity money mindset, it doesn’t mean you have to feel that way forever.

In fact, you can start reprogramming the way your brain thinks about money TODAY.

Here’s how to get started:

  • Find a money affirmation that works for you.
    Whenever you find yourself in a money-related situation that would usually cause you stress (like making a big investment), just remind yourself there’s always more where that came from. You don’t have to use those words exactly, but coming up with a mantra to repeat that is similar will help you retrain yourself to adopt new, more empowering beliefs about money.

  • Start learning more about money and money mindset.
    One of the best things you can do for yourself is get comfortable learning about money and money mindset. Developing basic financial literacy can go a long way in helping you achieve your money-related goals — whether that means getting out of debt, increasing your income, starting an emergency fund, or something else entirely — and diving deep into money mindset can help you understand and let go of your limiting beliefs. There are endless books, podcasts, newsletters, and blogs on the topic of managing money and money mindset, so there’s really no excuse to not start learning more today. (A personal recommendation about money mindset is “How to Be a Badass at Making Money” by Jen Sincero — this is a must-read!)

  • Start a gratitude practice.
    As cheesy as it sounds, it is SO easy to forget how blessed we are when we don’t make the active choice to practice gratitude. If you have a roof over your head, access to clean water, and food on the table every night — you’re doing better than a large population of the world. The idea behind this isn’t to dismiss your existing money problems or make yourself feel guilty for wanting more…but a positive money mindset starts with appreciating what you do already have. Take the time each day to appreciate some of the little luxuries in your life that make you smile, and you’ll start feeling more abundant in no time.

Your money mindset is like a muscle: the more you work on developing it, the stronger it will become. But before you can dive into improving it, you first have to discover it. Ask yourself the following questions, or write them down in your journal:

  • How do I feel about money? What reaction does it immediately elicit when I think about it?
  • How did my childhood environment influence my opinions and feelings about money? 
  • How do I want to feel about money?
  • What are some scarcity-based beliefs that have prevented me from making those feelings come true? What are three reasons that each of these beliefs isn’t true?

It’s time to start taking control of your relationship with money, and it starts with your mindset. You can experience abundance beyond your wildest dreams when it comes to money…it’s just up to you to do the work and start transforming your beliefs!