Adapting your attitude for financial success
Growth Predicted Next 12 Months
There’s a common saying that states your life is only as good as your mindset. And as simple as it is, it’s true. Mindset is a set of beliefs that shape how you make sense of the world and yourself. It influences your thoughts, feelings, beliefs, behaviour and opinions, often without you realising it. While your thoughts, feelings, beliefs and opinions have power, they are constructs of your mind and, therefore, you have the ability to change them – and your behaviour. And this is where it gets interesting. When you change your behaviour, you can gain control over aspects of your life that perhaps previously seemed uncontrollable, like your finances.
How mindset relates to money
Our mindset forms between the ages of two and 12 and is adopted from people we’re influenced by. These beliefs generally stay with us for life, unless challenged. Money mindset is your relationship, attitude and beliefs about money and how they impact your financial decisions. It’s the narrative you tell yourself and how you view others. Have you ever heard yourself saying, “I’m no good with money”, “Money doesn’t grow on trees” or “I always make silly financial decisions”? These throwaway comments can give great insight into your money mindset and how the money messages you inherited from your influencers are impacting your decisions.
Identifying limiting beliefs
The first step to financial freedom is identifying your limiting beliefs. Only then can you start to change them. Pay attention to your thoughts, language and behaviour relating to money. How do you look at people with money? Is it your belief that rich people are evil or people with less money don’t work hard enough? These perceptions will greatly impact your decisions and have the power to move you closer or further away from realising your financial goals.
New mindset, new results
Once you’ve identified your limiting beliefs, you can move from a fixed mindset to a growth mindset. A fixed mindset is when you believe your basic qualities, such as intelligence or talent, are fixed traits that cannot be changed. With a fixed mindset you’ll lose interest when things get too challenging. This impacts your ability to achieve your goals, limits your financial literacy and prevents you from growing your wealth. With a growth mindset, you believe you have unlimited opportunities that are always evolving. You actively seek to learn more about money management and take steps to build wealth. Often this is achieved with support from a financial coach.
|Fixed mindset||Growth mindset|
|Failure is the limit of my abilities
I stick to what I’m good at
I prefer the old methods
I live paycheck to paycheck
I give up when it gets too hard
Scarcity mindset: I focus on what I’m missing instead of on what I have
|Failure is an opportunity to grow
I can learn to do anything I want
I like to try new things
I live well because I have a steady income
I want to learn more about money Abundance mindset: there is plenty of money out there for everyone
Your thoughts shape your reality, so why not make them awesome? When you change your mindset, you change your behaviour. And when you change your behaviour towards money, you’re on your way to achieving financial success.
Dreams don’t work unless you do”. So, are you ready to work for what you want?
Book a free consultation with a Reventon Money Coach today!
Talk to the Reventon team and we’ll give you all the guidance you need to be a successful at investing your money.