Some people make building wealth look easy.
But their secret?
A lot of their accomplishments came from simple but impactful changes to their mindset. Here are five examples of things you can tell yourself to fix your relationship with money and have a more secure financial future.
Practice Abundance
The scarcity complex will only hold you back in life, but it’ll be particularly hard to build wealth if you don’t think there’s enough to go around. It also puts you on your back foot and more likely to make decisions out of fear rather than rationality.
But when you believe in abundance, you’ll start to see that possibilities are everywhere. And when you finally believe there’s enough, you’ll be open to sharing, collaborating, taking healthy risks, and giving yourself hope that it can happen to you.
Stop Instant Gratification
It’s easy to blow cash on things you want now. Today’s society even encourages it, constantly finding new and exciting ways to get you to part ways with your money. The real wins almost always come from thinking ahead and planning.
Adopt long-term thinking and limit your exposure to situations that might cause you to impulse buy. Remember that wealth isn’t built overnight; you have to stick with things even when they seem boring or slow.
Knowledge Over Fear
Many people are actively afraid of talking about finances. But that’s an easy fix: you have to build financial literacy. Follow your curiosity instead of shutting down when learning about finances.
Letting overwhelm win every time because you don’t understand a concept is going to keep you and your bank account from growing.
The more you know, the more confident you’ll feel, and the less stressed you’ll feel about money.
The world is a wealth of knowledge about virtually any topic, so it won’t be hard to find financial content that resonates with you, whether it’s a textbook or a podcast.
Failure and Risk are Part of the Deal
It’s totally normal to worry about losing cash or making bad investments. But with no risk comes no reward. Instead of feeling paralyzed when making money moves, learn how to manage risks and learn from your decisions as you go. Start small with lower-stakes decisions and build confidence that way.
Even if you fail, that’s all part of the process. There isn’t a single successful person who hasn’t failed a lot before they found something that worked for them.
Embrace a Growth Mindset
The growth mindset involves seeing things as opportunities to grow rather than the black and white thinking of success versus failure. Nobody comes out of the womb knowing how to invest or budget.
Remember that these are skills, not personality traits. Instead of seeing budgeting as some kind of punishment, treat it like what it is — something you can practice and get better at! Just remember to keep adapting. Life changes, priorities change, and your mindset should change along with your circumstances as needed.
