How to Transform Your Money Mindset
Updated: May 11, 2018
Your bank account is more than just the money (or lack thereof) that appears on your monthly statements. In fact, your bank account is a mirror that reflects your money mindset.
Accountants have discovered that people who are scared of their finances (perhaps they’re in debt, or living paycheck to paycheck) tend to ignore looking at their statements or reviewing their bank accounts.
“They are commonly referred to as money blocks”
There are actual, true limitations in life. Maybe you’re busy staying at home caring for your young children, or maybe your hours at work got cut due to things outside of your control. Fighting or resisting what IS only directs your energy towards the negative.
Don’t cast judgment on the situation.
Take stock of what’s going on in your life, financially, and accept what IS. That means looking at the plain, simple facts and acknowledging them. However, don’t label those facts. Don’t cast judgment on the situation. Simply let it be, which allows you to grow into the situation.
Then, begin to change your story. Phrases like “I’m bad with money” or “I’ll never dig myself out of this hole” simply keeps you in the financial rut you may be in, or cultivate the fear or anxiety that you currently feel.
“They are commonly referred to as money blocks,” says Ginger Dean, a licensed psychotherapist in a column for Forbes. (1) “Negative money scripts can have disastrous effects on your financial situation because what you think affects how you feel which then shapes the actions you take and eventually, the results you get. You can see why it's important to identify any negative money scripts so that you can shift them into positive scripts that will eventually shape your financial life in a positive way.”
Start to be open to change. Be open to new ways of thinking. Look for the positive. Sure, you might be struggling with sticking to the budget, but wow! You have a budget! Or maybe you’re only making minimum payments on that bill: But you’re still making regular payments!
Let these small wins build your self-confidence and your sense of empowerment and control over your financial picture.
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