How To Develop A Positive Money Mindset To Create Abundance
What is your relationship with money? Do you look at it as a friend or foe? Developing a positive money mindset leads you to abundance. Here’s how!
Hi Trish Davies here and I want to focus on your relationship with money. Also, to help you develop a positive money mindset so that you can create a life of abundance.
Much of the world has a relationship with money that sees them in a state of constant worry. How to pay the bills, how to put food on the table and how put clothes on their back.
You may be able to relate to some, if not all, of these but there is hope. I want to help you transform you money mindset from a place of scarcity to abundance.
Positive Money Mindset – Is Money A Friend Or Foe?
So, is money your friend or your foe? We all need money to survive, there is no getting away from that fact. However, for the majority of the world’s population money is something that they have a love hate relationship.
Most people live from paycheque to paycheque. When that deposit hits the bank account at the end of the month there is a profound sense of relief. However, over the course of the next 30 days that sense of relief slowly diminishes.
The account balance gradually gets smaller and smaller because you must have the basics in life. This leads to a sense of not having enough and what are you going to do in the case of emergencies?
What if the boiler breaks down so there is no hot water or heating? If the car goes bang how are you going to get to work? It is that time of year for new school uniforms and new shoes, how are you going to pay for it?
All of this stress and worry is not good as you. You, just like millions of people all around the world have fallen into the scarcity money mindset. Let’s look at some ways that you can make that mindset shift from scarcity to abundance and develop a positive money mindset.
Start Showing Gratitude For What You Have
Everyone feels If there was just a little bit more coming in then it would go a long way. That is a natural feeling to have but before I go any further then I just want to say something that may have a sobering effect on you. Well, I hope it does.
At this point I want you to feel grateful for what you have got, look at your life. Take stock and consider the following questions. Have you got a roof over your head? Have you got food on the table and clothes on your back? Do you have heating to keep you warm in the evening?
Maybe you have a nice phone, cable television or an iPad? If you answered yes to any of these then I am afraid it is time for a reality check as your life is not that bad.
Did you know that 80% of the world’s population live on $10 a day or even less! There is such a huge disparity between people’s income all around the world.
Around 40% of the world’s population only accounts for just 5% of the world’s income and 20% of the richest people in the world account for three quarters of the world income.
This is a shocking statistic I found while doing a bit of research for this article, over 20,000 children die every day due to poverty! I am sure that when you think about that then it puts things into perspective.
One step to shifting your money mindset is acknowledging that there are people worse off than you. There is nothing wrong with wanting nicer things, but it is not the be all and end all. Just show some gratitude for what you do have in life right here, right now
Financial Planning & Budgeting
We all need direction in life and when it comes to money there is no exception. Creating your own financial plan will help your money mindset shift from scarcity to abundance. Many of us don’t have a clue how much money we have coming in and going out during the course of the month. Just maybe it’s not as bad as you may think.
Sit down and take some time to analyse your finances. A straightforward way to do this is to have two columns, one for income and the other for expenses. List down all the expenses that you need to survive, mortgage, rent, food, clothing, heating etc.
Then list down all the non-necessities you that you spend money on. The other side of the page is your income so compare that to all the essential commitments. The chances are that your income is more than enough to cover those so instantly you have moved away from scarcity. The pressure of worrying about how you are going to survive is gone because it is down there in black and white.
A sense of abundance will come over you because you have what you need. Then you can look at what else you spend your money on and decide whether you need those things in your life anyway.
Maybe you can put that money to better use for yourself or the people around you. Abundance is not always about the money you have it is what you can do with it. Maybe look at investing some money so it then works for you passively in the background.
Don’t Compare Yourself To Others
Live is not a competition about what you have as opposed to what others have. Unfortunately, human nature sometimes turns it into a competition though. What this means is that in general people try and compare themselves to their neighbours, their friends and their family.
You may see your neighbour come home one day with a brand-new car. The same car that you may have had you eye on. For many people they think that they must be the same as others but stop for a moment and think of this.
Your neighbour may have just signed up to a hire purchase or lease purchase agreement for the next five years. They may be paying hundreds every month for that luxury and at the same time purchased a liability.
What they have also done is set the seed for a scarcity money mindset. Eventually they will start to worry how they can afford to meet the payments. Is this what you want for yourself?
Set Up A Piggy Bank
There are some little things in life that don’t cost a lot but can mean everything. With a scarcity money mindset, you may be scared to contemplate going out for the evening. Therefore, you never get to do it.
We all have lose change. Even in this digital age where we tend to do a lot of our transactions through plastic. Physical money is still around us so when you go to the shop and buy something for cash you will get some change back.
When you get back home put that change in a jar, tin or bottle. It doesn’t really matter as over the course of a few days and weeks that will build up and you won’t miss the money.
At the end of the week or month crack it open and you will be amazed just how much you have saved. Then go out for the night and enjoy yourself. A trip to the cinema, a nice meal out or even something as simple as an ice cream at the seaside. You will experience abundance in your life and have that feeling of gratitude. Priceless!
Positive Money Mindset – Change The Way You Talk About Money
I don’t mean how you talk to other people about money. No, I mean what you say to yourself whether aloud or in your head. For example, we have all said to ourselves that “I will never be able to afford that”, why not?
Negative thinking only results in negative things happening. What you should be saying is “what can I do to be able to afford that?”. When you enter this positive money mindset then things will happen.
You start to take action. This could be getting another job with a goal in mind (what you want). Or you may look into creating your own additional income streams by working for yourself part-time.
Opportunities to work from home are endless and there will be something that is perfect for you. When people start to think what they can do they instantly enter the abundance money mindset. Opportunities become clear and the can see endless possibilities.
Let Go Of The Past
Habits that you have formed in the past has manifested a scarcity mindset. You must let those go and start to form new habits. If you don’t then you will never change the way your life is.
Write down things that have given you a terrible experience about money. See if there is a particular pattern that has been formed. Then work out how you can change that pattern.
The important thing is not to beat yourself up about it. Don’t let it form a chip on your shoulder. Forgive yourself so you can get over it and move forward.
Money can be destructive if you don’t control it. Creating a positive money mindset will give you the control you are looking for. Once you have this control money can then be something that you can have a great relationship with.
You will experience that feeling of abundance. I hope that this article has helped you understand more about money and how you treat it along giving you some great insights on how to change your own money mindset. I would love to receive your feedback on what I have shared with you today so please leave your comments below.
A life of freedom and choice
Trish Davies
Trish Davies International
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