Money Mindset: How to Create More Abundance and Wealth

Andrew Deen  |


When it comes to money, people have a lot of different opinions and attitudes. Some people hate having to earn money, while others seem to magically attract more and more of it. Even if you think you’re “bad with money,” you don’t have to feel that way forever. Your attitude and mindset affect the amount of abundance and wealth in your life. The more positive we can be, the easier it is to manifest and create wealth. The power of your own thoughts can have a big impact on how you show up, behave, and think, which can directly affect your bank account.

Dr. Erika Rasure, Assistant Professor from the online MBA in financial services program at Maryville University, states, “mindset and attitude tend to mirror a person’s financial success. If you've got a negative mindset, your finances are likely to reflect that bad attitude. Sometimes when a person feels that they aren't making headway toward meeting their goals, they find themselves in a very crowded negative headspace.”

Rasure stresses that personal financial success is a continuous learning process. We all must be flexible, make changes, and adapt as we go along. Ultimately, Rasure says, “Confidence and faith in yourself to make the right decisions no matter what life throws at you is a huge part of financial success. It's trusting yourself to get out there and find the answers to your questions, the people that can help you, and the tools that make it easier for you to do what you want to do. People who can't seem to take that initiative and put their ego away will have a hard time finding themselves successful.”

Why Should You Change Your Money Mindset?

You might not be aware of just how much your thoughts and attitudes are affecting your ability to gain more wealth and abundance. Sometimes you need inspiration to overcome life’s toughest challenges, especially when it comes to money. Money itself is neutral, but our attitudes about wealth and money can help or harm our ability to create abundance. You may be avoiding the actions that will earn you more money without even realizing it! To build real wealth, you must change your mindset and your behavior.

Not sure what that looks like? To start, learn from the examples of others who have successfully created long-term sustainable wealth. Quotes from public figures, wealthy individuals, and even ancient proverbs reflect just what kind of thinking it takes to create real abundance.

It's Never Too Early to Develop a Money Mindset

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The best time to start working on your money mindset is…now! Whether you’re fifteen or fifty-five, it’s always good to start thinking about how you can create more wealth. Ideally, your parents taught you lessons early in life to get you on the road to financial security. If not, don’t worry! If you’re in your college years and you haven’t even started developing your first budget, know that you’re not alone. In fact, in one recent survey, 58 percent of college students revealed that they don’t maintain savings. But remember--it’s never too late to change your attitude and behavior and it’s never too early to develop a money mindset!

With a Money Mindset You're in Control

If you’ve ever felt like you don’t have control over your finances, then developing a healthy money mindset could be life-changing for you. Money needs to be given a job, and you’re in control of deciding what that job is. Don’t give money the control—it’s nothing but a tool. Budgeting and giving all your money a job will help you stay in control.

Many people have negative thoughts surrounding money. Thoughts like “I’ll never be successful or make a lot of money” often end up as self-fulfilling prophecies. If you believe those negative thoughts, they’ll inform your actions and can create self-sabotage. Change the scripts to be more positive, and your actions will help you make more money, not live in a constant state of fear over your financial future.

Rasure also recommends taking charge of your own finances, and being accountable for yourself. Don’t’ compare yourself to others, and focus on taking care of your money and your own goals and needs.

Developing a Money Mindset Takes Growth

Most people aren’t taught to have a positive money mindset. We’re not supposed to want to make a lot of money, and most people are conditioned from a young age to expect nothing more than a modest income. Unfortunately, most people haven’t developed a positive money mindset by the time they leave school and enter the “real world.” Transitioning from academia to the workplace is a big change, especially in how you think about finances, and your own self worth.

Developing a money mindset takes personal growth. Give yourself the time you need to figure out what works and helps you find the motivation to create more wealth. It’s important to remember that money is personal. Everyone’s upbringing and financial situation is different, and you don’t know what anyone else is going through. Comparing your own finances to someone else’s is a recipe for disaster. Understand that your financial goals and your values are what matter—not anyone else’s.

Attitude and Mindset Creates More Abundance

Let’s make one thing clear: a money mindset alone doesn’t make you rich. But it is the foundation for creating wealth and driving the actions that foster new levels of abundance in a person’s life. You can always develop a better attitude about money, whether you’re making $100 per week or $10,000. Attitude and mindset are the first step in creating the life you want and ensuring your bank account stays full.

DISCLOSURE: No compensation, and none needed


The views and opinions expressed in this article are those of the authors, and do not necessarily represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

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