What is your money mindset? Do you realize that this is actually a thing? Well, it is, and in this episode, we are getting practical about how you think about your money.
Here’s the scoop from Episode #59:
Money mindset is a real thing and we don’t always recognize what ours is. Basically, it is how you think about money. It is shaped by many things – how you view the world; any religious views you might have; how you have been raised, etc. We are going to talk about what some of our favourite ways (that we have actually done!) to improve the way you think about money.
Surround yourself with like-minded folks and talk about money:
- Most likely in a business setting to start, this will help you get comfortable with the subject.
- Often taboo in our society, this will allow you to start getting to the root of your feelings.
- Have a small group of people that you really trust, and who are in the relatively same position financially. If you don’t have a trust fund, then don’t jump in with a bunch of people who do.
- Maybe it’s weekly. Maybe it’s daily in your planner. Regardless of how you choose to do it, practice it in all you do.
- Even changing your language from “we can’t afford it” to “we choose to spend our money elsewhere” can make a huge difference.
Revisit your goals daily:
- If you don’t stick to your goals are, the world is going to try to move you in a direction that you may not want to go.
- By revisiting them daily by either writing them out or posting them somewhere you can see them all the time, you will keep them top of mind and focused on achieving them.
- This includes clear income goals. Track them and keep moving towards them. Make a thermometer and color it in as you bring in more money – it can be very motivating and rewarding and plays into the gratitude.
Take right actions every day:
- Focus on what you need to do to move towards your goals. Procrastinating or distractions won’t help you achieve what you really want.
- We are talking about the right actions, not just busy work. If you need to book clients, then go book those clients.
- Take the initiative and educate yourself on your money mindset. Check out the books linked below and learn more about how you process the concept of money and what some of the ins and outs are.
Identify your money blocks:
- This is something that is blocking you from a new level of income.
- Common ones include hangups with negative feelings about wealth, or with making more money than your partner, or even that making lots of money is really hard. The thought that “If this is easy for me, then I shouldn’t charge more money for it.”
Get your personal budget in a good place:
- We’ve talked about this a lot – if your personal finances are in order, then this puts you in a better place mentally for your business.
Invite more abundance into your business:
- Build towards a buffer or a profit margin in your business. This is hard, especially as your business gets bigger, but it is key. The size of your buffer is something you can work towards over time.
- You don’t have to hoard this buffer either. Treat yourself with a reward. It doesn’t have to be huge – but do something that makes you feel good. Go out to dinner, get a mani-pedi – that sort of thing.
- Even if it is just a little bit, it is so important. It’s so powerful to see your money going towards something good. Things like micro-lending or scholarships, or whatever it is that makes you passionate – big or small – get involved.
- This can be different for everyone but it can be really helpful in terms of getting your thoughts around how you are feeling about things. It can be about your goals, or where you are stuck, but it puts your mind in the right place, especially when it comes to money.
Links for this show:
- To see all our planner reviews, check them out here.
- To work on your money mindset check out these books
- Want to learn more about micro-lending? Check out Kiva.
- Five Minute Journal
- If you missed any podcasts and want to get caught up, you can click here to find all of our previous episodes on the Podcast landing page.
- Join the Services Business Success Facebook group for all of the latest updates here.