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8 Tips for Creating a Confident Money Mindset

Money, whether it’s related to income or wealth, can weigh heavily on the mind.

And with financial health being one of the four major components of mental fitness, it’s crucial to cultivate and sustain a confident, positive money mindset to help support your overall well-being.

Contrary to some negative thought patterns you might be carrying around, you don’t need a degree in finance or an unexpected windfall of cash to improve your money mindset.  You can achieve greater financial confidence and a more positive money mindset by beginning to adjust your thoughts.

Before you dive into the actions of saving, investing or any other aspect of becoming more financially disciplined, it’s important to address your money mindset.

Here are 8 tips for creating a more confident money mindset:

1. Commit to your financial success

Make the conscious decision to commit to your financial success.  Be careful not to confuse commitment with the act of trying.  Committing to something or someone involves dedication and devotion versus trying, which is simply an attempt.  Acknowledging the difference and deciding to truly commit to your financial success is the first step towards building a confident foundation for your mindset.

2. Determine your why

Develop a personal connection to your money mindset.  What is important to you about feeling more confident around your finances?  Make a list and keep it somewhere you can easily access it as a reminder.  Assigning deeper meaning to your “why” makes it more difficult to veer off course or even abandon ship. Your “why” serves as your compass…it is always there guiding you towards your destination – or in this case, more confidence around your finances.

3. Acknowledge any limiting beliefs

Those pesky, negative stories we tell ourselves fester and keep us stuck.  Staying stuck wastes time and since we have all heard that time is money, well, I guess you can also say that staying stuck wastes money too.  Whether it’s fear, self-doubt or any other myth you harbor it’s time to move beyond those limiting beliefs and make space for more positive thoughts about your financial future.

4. Accept your past money story

If your previous money story includes mistakes such as running up credit card debt, making poor investment decisions or ignoring your retirement plan, accept that these things have happened and choose to see them as learning opportunities.  Recognize that those events or choices no longer support your future vision and stop holding space for that negativity.  It happened, it’s ok!  But it doesn’t need to continue.

5. Access free resources

Build up your confidence through positive information gathering.  Search for popular podcasts, books or television shows that focus on cultivating and maintaining positive money mindsets along with actionable tips.  Clever Girl Finance has a ton of free and simple resources to help empower women to achieve financial success, including worksheets and courses.  Dave Ramsey, a popular personal finance personality, also provides free resources such as apps, guides and live streams.

6. Practice gratitude

Choosing an abundance mindset can have multiple benefits. Flipping perspective to realize what you do have will shed light on more choices, resources and eventually lead to more of what you want. It’s important to note that a thankful mindset does not involve denying reality.  Practicing gratitude does not erase your circumstances but it can offer the opportunity to navigate with a more positive approach and create a lighter perspective.

7. Develop personal mantras

Quick, yet intentional, reminders such as quotes or affirmations can be a great way to start your day or provide a motivational reset, especially when you catch yourself slipping back into those limiting beliefs.  Keep a list of supportive quotes and affirmations in the Notes app on your phone, tape them to your bathroom mirror or hang them on your fridge – repeat them frequently and keep your “why” in mind!

8. Address your circle

Perhaps Oprah Winfrey said it best when she stated, “Surround yourself only with people who are going to take you higher.”  Your circle is valuable real estate.  Who you choose to allow in affects your mood, self-talk and your ability to succeed.  How do the people in your circle align with your values and elevate your money mindset?

Adjusting your money mindset is entirely achievable and can yield significant benefit.  Start by incorporating a few of the exercises above into your routine and build a more confident foundation to help reach your financial goals.