How to change your outlook on money, and how a Money Mindset Coach can help
Are you tired of living paycheck to paycheck? Tired of feeling anxious when someone so much as mentions the word “money”? Are you ready to break the cycle and take control of your financial future? Let’s dive into the mindset shifts you need to develop the relationship with money you’ve always wanted!
Money is a tricky subject for most of us. Whether it’s struggling to make ends meet, not knowing how to prepare for the future, or not knowing how to achieve our goals, our relationship with money can impact our overall well-being. Below are FIVE things you can do to change your relationship with money, and how a Money Mindset Coach can help you!
1. Develop a Growth Mindset
The most important thing to remember about money is that it is a tool; a neutral entity. When it comes down to it, money is simply something that we use to exchange goods and services. Our beliefs, experiences, and emotions greatly affect how we interact with money. A majority of us have been conditioned to think negatively about money and have what is called a “scarcity mindset.” A scarcity mindset is when someone believes they will lose because others have already won. Negative beliefs, like this one, can limit our chances of success when it comes to achieving our goals.
In order to combat this, it is important to develop a growth mindset. When someone has a growth mindset, it means that they don’t see failure as an end, but as a springboard toward success. One great way to make that shift from a scarcity mindset to a growth mindset is to reframe negative thoughts and situations (reasonably). Another way to put this is to “look on the bright side” or to seek the “silver lining.”
2. Set SMART Goals
After developing a growth mindset around money, the next step would be learning how to set proper goals around your finances. Whether your goal is buying a house, paying off your debt, building an emergency fund, or even just saving for a video game you want, you need to have a plan! Creating financial goals and tracking your progress will help you stay motivated and focused. A great system you can use is the SMART Goal framework. If you set goals that are Specific, Measurable, Attainable, Relevant, and Time-Bound, you will have a much higher chance of reaching them!
This is also the time to push your personal boundaries. What do you REALLY want? What will that give you? Why is it important to you? These questions will help you solidify your dreams and push you to reach for them.
3. Let Go of the Past, Focus on the Future
Another aspect of forging a healthy relationship with money is learning to let go of past financial mistakes and anxiety (which is easier said than done!). These negative feelings can stem from being overwhelmed by bills, loans, or any other financial obligations. Having these negative feelings revolving around money, combined with our actual situations, can lead to further poor money management decisions.
While it is important to acknowledge the past and your mistakes, it is infinitely more beneficial for your future to start implementing good habits. One example of a good habit could be starting to budget monthly.
Focusing on the past will only make it difficult for you to see the future and what it can be! With that in mind, be sure that you LEARN from those mistakes!
4. Know that it Will Take Time
That said, another important thing to remember about changing your relationship with money and achieving your goals is that it is a process. It’s going to take time and effort to change your long-held habits and beliefs!
It may be beneficial for you to keep track of smaller successes on your journey. Consider writing them down on a piece of paper that you stick on the wall, which also has your larger goals written out. This can act as a daily reminder of not only your goals but of the work you’ve already accomplished!
This is why it is so essential to create a solid “WHY” for your financial journey. This will help you ensure that you are focused on moving toward what it is you want.
5. Believe that it is Possible!
The most crucial step for changing your relationship with money and achieving your goals is simply believing it is possible. This can be a difficult action for some, especially those with negative experiences regarding money. It is important to not only believe but to act in a way that solidifies those beliefs as well.
A few actionable items you could do to make this shift is to break down your main goal into smaller steps, focus on progress (not perfection), and surround yourself with a community that supports you.
How can a Money Mindset Coach help me?
A Money Mindset Coach can be a valuable member of your team as you take on your biggest financial goals! A Coach can help you identify and reframe your limiting beliefs about money. This will help you understand how your thoughts influence your financial behaviors so you can handle your money in a way that lines up with your goals.
A Money Mindset Coach can also help you reframe your limiting beliefs to create a growth mindset. This will help you stay on track, feel supported, and remind you of that “WHY” so you can do what you want!
At Within Range Life Coaching, we use a series of “Declarations”, alongside the Baby Steps, so that our clients have tasks to accomplish after each session. By using a system of Kind Accountability, we hold our clients to their word so they can reach their full potential.
Conclusion
Changing your relationship with money is difficult, but it is possible! By creating good habits, developing a growth mindset, and the other tips in this article, you can be well on your way to achieving your goals around money. Achieving the life, success, and stability you’ve always wanted starts with your mindset- and only you can control that!
If you are having a difficult time reaching your goals, working with a Money Mindset Coach can help to demystify your journey. A coach could help you identify your limiting beliefs, develop different strategies for money management, and provide accountability and guidance as you work towards your goals.
Take the first step towards financial independence by scheduling a 15-minute consultation with me today. Together, we’ll unlock your money mindset and set you on the path to achieving your financial goals. Don’t wait, book your consultation now and start your journey to financial freedom.