Money Mindset: How to Change Your Mindset for Financial Success


There’s a quote attributed to Einstein that says, ‘Not everything that can be counted counts, and not everything that counts can be counted.’ This holds true for personal finances; not everything that can be counted (clothes, cars, jewellery, or cash) truly matters, and not everything that truly matters can be counted – your money mindset.

Our money mindsets—an intangible but significant factor in achieving our financial goals—defies easy calculation.

Let me share a bit about my money story.

Over the past few years, my financial life has undergone a remarkable transformation. Reflecting on this journey, I take great pride in my achievements.

However, life wasn’t always this way.

I struggled with budgeting, debts, and savings challenges throughout my entire life due to the lack of a solid financial foundation.

Feeling helpless and hopeless, I chose to ignore my situation, and educate myself on financial matters.

I used to believe that money was the root of all evil and that there were more important things than financial wealth.

Yet, the constant worry about money lingered, leading to impulsive purchases and mounting credit card debts.

Eventually, I reached a breaking point, deciding it was time for a change. Fed up with the cycle, I resolved to transform my financial situation, knowing I could achieve anything if I put my mind to it to it.

However, merely adopting good financial habits proved insufficient. Frustration mounted as my efforts did not yield the expected results.

It was during this time that a close friend suggested, I examine my mindset around money. Initially sceptical, I decided to give it a try, realising I had nothing to lose.

Embarking on a journey to reshape my money mindset, I discovered a profound truth – my mindset was the decisive factor between my current financial life and the life I aspired to achieve.

With the right mindset, I successfully paid off £32k of debt in two years and concentrated on achieving my other significant financial goals.

Why You Struggling Financially


Many people grapple with their financial for years due to their mindset about money.

The way we think about money, learned from family, friends, and experiences, significantly impacts our financial wellness.

Our money mindset often shapes what we can accomplish financially.

What is Money Mindset?

Your money mindset is how you see and think about money. It includes your beliefs, opinions, views, feelings, and attitudes regarding money, basically shaping your approach and attitude toward money matters.

Practical financial advice, such as steps to getting out of debt or saving consistently, is crucial, but without the right money mindset, financial success will remain elusive.

Personal experience has taught me that attempting to improve my financial situation without addressing my mindset led to slow and discouraging progress.

For example, I tried getting out of debt for many years but couldn’t, the process was sluggish and gloomy, until I worked my mind-set. 

What Are the Benefits of a Positive Money Mindset


Recent research by financial firm Aegon highlights that one in six people have a positive money mindset. The study suggests that the most powerful improvement we can make to improve our financial well-being is in the area of mindset.

Here is why? Our money mindset determines our actions with money. A negative or scarcity mindset leads to poor financial choices, while a positive mindset aids wise decisions.

A positive money mindset can yield various benefits, including:

  1. Impact on beliefs and actions: Your thinking influences your beliefs and actions, guiding what you pursue or avoid.
  2. Increased motivation: A positive mindset keeps you motivated, seeking solutions to financial challenges instead of dwelling on obstacles.
  3. Better wealth-building habits: Positive money mindsets promote healthy financial habits, such as budgeting, saving, and investing. These money habits contribute to long-term wealth accumulation.
  4. Change perspectives: Transforming your money mindset enables you to view your finances differently, believing change is possible and identify opportunities.
  5. Alignment with your goal: A positive mindset is foundational for staying on track with your financial goals while overcoming challenges.
  6. Build financial confidence: The right money mindset instils confidence, encourages you to seek help instead of struggling in silence.
  7. Abundance mentality: Adopting an abundance mindset allows you celebrate small victories, recognising their contribution to the bigger picture.
  8. Breeds gratitude: Developing the right money mindset fosters gratitude for existing blessings, attracting positivity and good fortune.
  9. Curbs emotional spending: A positive money mindset helps control emotional spending, which leads to contentment.
  10. Overall well-being: Financial well-being is interconnected with overall well-being. A positive money mindset contributes to a sense of security, satisfaction, and fulfilment in life

What is a Scarcity Money Mindset

In simple terms, a scarcity mindset is the belief that there will never be enough, leading to feelings of fear, stress, and anxiety.

Regrettably, many people harbor a pessimistic money mindset, subscribing to notions such as:

  • Debt is a necessary part of modern survival.
  • Perpetual paycheck-to-paycheck living is unavoidable, with no financial advancement in sight.
  • Attaining wealth is an unattainable or unrealistic goal, a belief I once shared for years.

Common Limiting Money Beliefs

signs your money is affecting your mental health

Common limiting money beliefs can significantly hinder financial success. These are some common limiting beliefs I often observe with my clients.

Here’s an exploration of these beliefs:

Money is Scarce:

  • Limiting Belief: Believing that money is scarce can lead to a constant fear of not having enough.
  • Impact: This belief may result in hoarding money, avoiding investments, and missing out on opportunities due to a scarcity mindset.
  • Positive money mindset: Shifting to an abundance mindset involves recognising opportunities for growth, seeking out investment opportunities, and realising that money can be earned and multiplied.

Money is Evil:

  • Limiting Belief: Associating money with evil can create guilt or discomfort around wealth.
  • Impact: This belief may lead to self-sabotage, preventing wealth accumulation due to subconscious negative associations.
  • Positive money mindset: Reassessing the positive impact money can have, such as supporting loved ones, charities, and personal growth, can help reshape this belief.

Accepting You Are Not Good with Money:

  • Limiting Belief: Believing you’re incompetence with money can result in a lack of confidence in making smart financial decisions.
  • Impact: This belief may lead to avoiding financial responsibility, neglecting budgeting, and making uninformed choices.
  • Positive money mindset: Acknowledging that money management is a skill that can be learned, seeking education, and taking small, manageable steps toward financial literacy can inspire and empower change.

Assuming You Need Plenty Money to Make Money:

  • Limiting Belief: Assuming that you need substantial capital to make money can hinder the pursuit of your financial goals.
  • Impact: This belief may discourage you from starting small, investing, or taking entrepreneurial risks.
  • Positive money mindset: Recognising that many successful individuals began with modest resources, and embracing the idea of incremental growth and learning, can alter this belief.

Believing in Predetermined Financial Fate:

  • Limiting Belief: Believing in a predetermined financial fate can lead to a sense of powerlessness.
  • Impact: This belief may discourage your efforts to change your financial circumstances, assuming everything is beyond your control.
  • Positive money mindset: Embracing the idea that your financial future can be shaped by intentional actions, perseverance, and continuous learning can challenge this belief.

Feeling There’s Never Extra Money:

  • Limiting Belief: Feeling there’s never extra money can contribute to a scarcity mindset.
  • Impact: This belief may hinder you from saving, investing, or pursuing your financial goals due to a perceived lack of resources.
  • Positive money mindset: Learning how to create and stick to a budget, identifying areas for potential savings, and realising that small, consistent efforts can accumulate over time can reshape this belief.

Overcoming these limiting money beliefs involves self-examination, challenging negative thoughts, seeking financial education, and gradually implementing changes in financial habits.

How to Determine How You Think About Money:

money lessons i wish i knew opt | Advice to My Younger Self
  1. Outcome: Identify your biggest money challenge, e.g., struggling to save or make enough money.
  2. Actions: Understand the actions contributing to your challenges, e.g., insufficient income, lack of motivation, poor budgeting.
  3. Feelings: Recognise your feelings about the situation, e.g., fear of never achieving your financial goals, apprehension about committing to a saving plan.
  4. Thoughts: Pinpoint the thoughts causing these feelings, e.g., reluctance to ask for a raise, perceived lack of time for job applications, budgeting struggles.
  5. Beliefs: Identify the beliefs leading to these thoughts, e.g., associating asking for a raise with ingratitude, believing you’re not good with money.

How to Change Your Money Mindset

Identifying the belief that hinders your progress is a significant achievement. The next crucial step is to learn how to change these negative money beliefs and thoughts.

This process is essential in helping you adopt more positive actions and achieve the desired results.

Regardless of your current beliefs, thoughts, and feelings about your financial situation or money in general, there’s encouraging news—you can cultivate a healthy, positive money mindset that propels you towards financial security and, ultimately, freedom.

5 Ways to Change the Way You Think About Money


1. Embrace the Journey to Financial Freedom

Determine to take proactive steps towards financial success; this requires a willingness to change and an unwavering commitment to the journey of enhancing both your finances and life.

Choosing to decide involves breaking free from the notion of waiting for perfection—whether it’s the perfect job, ideal relationship, or the right moment.

Instead, initiate your journey from where you currently stand. Even if your initial savings are modest, begin there.

Why? The focus isn’t solely on the amount you save but on developing sound money habits and maintaining consistency.

The key to progress lies in your consistency.

Over time, as your income grows or additional funds become available, you’ll naturally make more informed financial decisions rooted in the positive money mindset and habits you’ve cultivated.

2. Forgive Yourself of Past Financial Mistakes

Granting forgiveness for your past financial mistakes is crucial for your journey toward financial success.

Is okay to recognise these mistakes, however, you need to forgive yourself by extracting the lessons learned, and keep moving forward.

Understand that everyone makes mistakes with money, including yourself and even the wealthiest individuals. Many of the most prosperous people have encountered significant financial blunders on their paths to success, just like you.

So, cease the self-condemnation and view your mistakes as valuable learning opportunities.

A quote from Dave Ramsey resonates well with this perspective: “Success is just a pile of failure that you are standing on.”

Acknowledge where you went astray, devise strategies to rectify the situation, or seek the necessary support to break free from the cycle of self-judgment and self-sabotage.

Remember, your journey involves learning and growth, and forgiveness is a key component to propel you forward.

Success is just a pile of failure that you are standing on.

Dave Ramsey

3. Find Your Motivation for Financial Success

Cultivating motivation is crucial, especially as initial excitement may wane over time when working towards financial goals. Sustaining continuous motivation and focus requires tapping into your core reasons for seeking financial freedom.

How to find motivation and focus:

Robert Kiyosaki emphasises that understanding your “why” is more critical than the “how” when it comes to achieving financial freedom.

Identifying the reasons behind your desire for financial freedom and wealth is a powerful tool for transforming your perspective on money and your current financial situation.

Ask yourself:

  • Why do I want to change my financial situation?
  • Why do I want to eliminate debt, save more, invest, or increase my income?
  • What are my ultimate financial goals and dreams?

Carefully contemplate these questions and write down your answers. The act of putting your whys and wherefores in writing allows you to review them regularly.

Focusing on your “why” serves as a constant source of motivation, propelling you to alter your perception of money.

Ensure your reasons are deeply rooted and emotional, as wishy-washy motivations may not withstand the challenges that may lie ahead.

Your “why” will act as a motivation to move forward with determination and resolve. The strength of your “why” is pivotal, as it determines your resilience in the face of obstacles on your journey toward financial goals.

Regularly remind yourself of your “why”—whether it’s pursuing a higher-paying job, adhering to a budget, or conquering debt.

4. Cultivate Gratitude: A Powerful Tool to Shift in Money Mindset

Expressing gratitude for what you have is a potent strategy to transform your approach to money. This practice deeply influences your mindset, emotions, and motivation.

Embrace gratitude as a transformative tool for reshaping your money mindset:

  • Start by acknowledging the abundance in your life: a home, clothes, food, and a support system of family and friends.
  • Gratitude shifts your mindset, feelings, and motivation, breaking the cycle of financial worries.
  • Appreciating current abundance accelerates the path to financial freedom and goal achievement.
  • Consistent gratitude attracts ongoing blessings, creating a positive energy cycle.
  • A grateful attitude elevates your mood, providing the energy to take action steps toward abundance.
  • Gratitude opens your heart and mind, making you more receptive to opportunities and positive outcomes.
  • Deliberate gratitude counters dissatisfaction, fostering contentment and motivation for future achievements.

Take a moment to reflect on what you’re grateful for:

  • Whether it’s life, health, or the support of a community, expressing gratitude creates a positive shift.
  • Recognise and appreciate the privileges in your life, fostering motivation to achieve more.
  • Document your gratitude regularly to witness positive changes in your financial situation over time.

5. Transform Your Money Mindset with Affirmations

Affirmations are powerful tools for reshaping your mindset. They involve stating positive truths to counteract negative beliefs.

Affirmations serve as daily reminders of your financial goals and motivations, keeping you inspired and focused.

  1. Definition: Affirmations involve stating something as true, fostering a shift in perspective.
  2. Rich vs. Poor Thinking: The difference lies in their perspectives on money. Affirmations swiftly guide you away from negative to positive thoughts.
  3. Language of Financial Freedom: Affirmations is the language of financial freedom. They attract, magnetise, and magnify positive energy. Speak about your financial goals as if they’re already happening.
  4. Consistency is Key: Repeat your empowering affirmations at least twice daily, ideally in the morning and evening. This consistent practice will transform your thought patterns.
  5. Speak Your Financial Future: Express your aspirations confidently. For instance, say, “I am wealthy, and I am a good money manager.” This instils confidence and abundance in your financial mindset.

Maybe you’ve thought or currently believe:

  • Living paycheck to paycheck is normal and acceptable.
  • Perpetual financial struggle is inevitable.
  • Debt is a constant in your life.
  • Perhaps you’ve viewed debt as a necessary tool for navigating today’s society.
  • It’s possible you’ve believed that someone else or a fairy-tale figure will magically resolve your financial concerns if you don’t save, invest, or plan for the future.

However, the reality is that none of these scenarios have to define your life—unless you choose to make them a reality through your decisions and words.

  • You have the power to end the cycle of living paycheck to paycheck.
  • You can break free from the burden of debt.
  • Initiating a savings plan is within your reach.
  • You have the capacity to start investing and create a successful financial future, and you don’t need a fairy-tale figure to make it happen.

How to Let Go of Limiting Beliefs with Affirmations

  1. Craft Powerful Affirmations. Your affirmations should be
  • Short and Concise: Keep affirmations brief for easy recall.
  • Personal and Deep-rooted: Connect affirmations to your personal financial goals.
  • Present Tense: Phrase affirmations in the present to reinforce their immediate impact.
  • Positive: Frame affirmations positively to fuel optimism.

Examples of positive money affirmations:

  • I make smart money decisions.
  • I am debt free.
  • I have paid off my £5,000 bank loan in full.
  • My income is constantly increasing.
  • I have saved £40k for my house deposit.

2. Incorporate Affirmations into Your Daily Routine:

  • Keep them visible as phone screensavers, on bathroom mirrors, or fridge notes.
  • Repeat them consistently to reinforce your new positive beliefs.
  • The more you affirm, the more your mindset evolves, fostering lasting change in your financial habits and bringing you closer to your goals.

5. Continue to work on your money mindset


Frequently revisiting and cultivating a positive mindset is essential, as it forms the bedrock of your financial success. Your thoughts about money serve as the foundation that propels you toward achievement.

To Nurture this Mindset

  • Recognise the Power of Your Mind: Understand that your mind is a powerful force in steering your financial journey. By consistently nurturing positive thoughts, you create a fertile ground for your financial goals to flourish.
  • Compile you Favourite Money Quotes: Create a list of quotes that resonate with you and read them out often. Here are a few examples:
    • “A budget is telling your money where to go instead of wondering where it went.” – Dave Ramsey
    • Anytime you borrow money, you are robbing your future self – Nathan Morris
    • If a person gets her attitude towards money straight, it will help straighten out almost every other area of her life. – Billy Graham
    • “Develop success from failures. Discouragement and failure are the two of the surest stepping stones to success.” – Dale Carnegie
    • It is not your salary that makes you rich, it is your spending habits – Charles Jaffe
    • Money grows on the tree of persistence – Japanese Proverb

Continuing to work on your mindset through reading personal finance books, revisiting affirmations, and staying motivated will help you focus on financial success.

By actively cultivating a positive mindset, you lay the groundwork for a more fruitful and rewarding financial journey.

Remember, shaping a positive money mindset is the first and most vital step toward achieving financial goals.

In the words of Mark Twain, ‘The secret of getting ahead is getting started.’ Your journey to financial success begins with transforming your money mindset.

Ready to Transform Your Money Mindset?

If you are READY to transform your money mindset and looking for an actual step-by-step plan, my eBook: The Money Mindset Makeover for Wealth, Abundance, and Financial Freedom is the best place to start!

This article is basically a 20,000-foot overview of what is taught in depth in the guide and so much more.

the money mindset makeover

In this guide, you’ll discover:

  1. 🔑 How to Unlock the Abundance Mindset: Embrace a mindset that attracts prosperity and opportunities effortlessly.
  2. 💡 How to Overcome Limiting Beliefs: Identify and break free from beliefs that may be hindering your financial growth.
  3. 🌟 Practical Steps for Lasting Change: Implement actionable strategies into your daily life to transform your mindset over time.

Get Your Copy Today Here.

Risk-Free Guarantee: We’re so confident in the impact of this eBook that we offer a 100% money-back guarantee. If you don’t witness positive changes within 30 days, we’ll refund your investment—no questions asked.

Money Nuggets

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

20 − 19 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.