4 Ways to Fix Your Money Mindset To Reach Your Financial Goals

If you are worried about your money and find yourself living paycheck to paycheck, you’re far from being alone. Now more than ever, people are worried about their money and the right money mindset.

In the past year alone, many people lost their jobs, businesses and this sadly cultivated a scarcity mindset in their relationship with money. This wave of anxiety has covered the globe and recently I have found myself stuck in that anxiety bubble.

I am what you would call a late bloomer to money management and it took me being stressed and knee-high in debt to finally understand money. I’ve found myself afraid to spend money or spend it the minute it hits my account.

My triggers and stressors surrounding money certainly have emotional elements associated with them, but most importantly it came down to my money mindset and me believing I never had enough or would never be successful with money. 

What Is a Money Mindset

Your money mindset is your unique set of beliefs and your attitude about money. It drives the choices you create about saving, spending, and handling money. Your financial habits whether good or bad are rooted in your mindset. Your money mindset powers your thoughts, attitudes, and perspectives toward your finances. 

People who have a healthy money mindset believe things like:

  • I have the freedom to spend, but I can also tell myself no to a purchase.
  • I enjoy helping others who are struggling by giving generously.
  • It’s possible to achieve my financial goals
  • Comparing myself to others is not necessary

Remember, you’ll control how you view, approach, and manage your money. By understanding your current money mindset, you’ll be ready to create positive habits that assist you to accomplish your goals. 

RELATED: 5 Ways to Improve Your Relationship With Money

Where Does Your Money Mindset Come From

Not many people grew up with an abundance mindset when it came to money. In my household, I was constantly told things like: “money doesn’t grow on trees” or “do you think we are rich?” It was statements like those that shaped my core belief about money.

Your money mindset is influenced by your early experiences with money, lessons taught by your family, and the habits of people around you. 

Our current environment also shapes our money mindset. The people you spend time with, your neighborhood, the books you read, and therefore the podcasts you hear. You are more affected by our environments than you think. If you’re surrounded by people with a broke mindset, it’s easy for his or her habits to abrade on you. 

Let’s take a glance at a couple of ways in which you’ll start shifting your money Mindset.

1. Forgive Your Money Mistake 

We all make money mistakes. And on top of our mistakes, we feel horrible about them. We can be overly critical of ourselves over a money mistake. Let’s start off by shifting the focus away from shame and create new habits that will bring you closer to a more positive attitude towards money in the future. 

Where do you start, first, acknowledge what happened, apologize to yourself, then move forward. If you start to develop a negative mindset towards money just remember, your financial mistakes aren’t you. You are independent of your financial mistakes within the past. 

2. Set Financial Goals 

Now that you have forgiven yourself, the next step towards a positive “money mindset”, is to start setting and implementing goals. When setting goals, figure out what matters most to you, and write these down

One of the best things that you can do to change your money mindset is identify and then focus on your financial why. 

Ask yourself these questions: 

  • Why do you want your financial situation to change? 
  • Do you feel you need to pay off debt or start saving more money or investing for retirement? 
  • Why would you like to earn more money? 
  • What are your ultimate financial goals and dreams? 

One of the first steps to help you create the financial future of your dreams is to start to budget. Because love it or not, you almost certainly have limited resources, so you would like to inform those dollars the way to the best work for you. 

RELATED: Here’s How You Should Set Your Financial Goals For 2021

3. Be a Giver 

Start by giving to a cause you believe in, or treat friends or family or even a stranger to lunch or dinner. This doesn’t have to be a huge amount. The point is just to adjust your thinking from scarcity to abundance. When you’re generous, you’re reinforcing the truth that there’s plenty to go around. There’s always more where that came from.

If you’re surrounded by a scarcity mindset you being generous to others can demonstrate how confident, secure, and fulfilled you are with your money.

RELATED: Why Giving Makes You Better With Money

4. Educate Yourself About Money

Finally, if you would like to possess a positive mindset around money, inform yourself about money. Surround yourself with people with similar values and beliefs, read books promoting positive mindsets, blogs, and articles. There are lots of resources to help you become financially savvy and increase your financial education.

These resources can broaden your perspective and assist you to improve the areas where you’re struggling. Talk with family and friends about the questions you’ve got.

Seek out a professional such as a financial advisor or money coach who can help address your money mindset and provides you with practical tools to enhance it. Knowledge is power and making the foremost of the resources available to you’ll assist you to shift your perspective. 


Changing your money mindset is a lot of self-work. But with practice, you’ll see your life change in ways you can’t even imagine. In order to have money flow to you, you have to believe that not only are you worthy of more money but that it’s so easy for you to get it.

Understanding your money mindset and where it came from, helps you modify it. You don’t have to be stuck in that scarcity mentality, changing your mindset starts and ends with you. You can break out of it. Start by making one small goal that you can work toward. Celebrate each small success that changes your financial trajectory.

This will assist you to realize that you simply are on top of things in your financial life which you’ll change your financial situation.