I’ll be honest: I used to have a toxic relationship with money. I would regularly say things like “Money is the devil” and “Money stresses me out” — and I didn’t realize it at the time, but that was only adding fuel to the fire that was my bad money mindset. Eventually, I got tired of having no money in my bank account at the end of each month, and I decided it was time for a change. If my goal was to attract more money, I would not reach that goal with a negative mindset.
I wanted to create more stability in my financial life while also enjoying more flexibility and independence in my day-to-day life, and that’s exactly what I did.
In this article, I’m sharing 4 of the most important changes I made as I cultivated a more positive and abundant money mindset. You’ll walk away prepared to implement these 4 habits and shift your own money mindset, and in turn, you’ll be set up for future financial success!
1. Choose a New Money Mantra
As I mentioned earlier, I had negative money mantras that were rooted in scarcity. I realized this was where I had to start if I wanted to change my relationship with money because if I continued to say and think “I hate money,” it was going to hate me right back. As a result, I would never easily attract more money so this is a first essential step.
As a result, I adopted new mantras, including:
- I love money and money loves me.
- I can always make more money.
- Money flows to me easily and often.
Thinking and speaking negatively about money does you no favors. If you want to improve your money mindset and attract more financial abundance, you must first change the way you talk about money — both internally and externally.
The takeaway: Respect money, and money will respect you.
2. Create a Money Buffer
When I was researching ways to improve my money mindset, I came across some incredible advice: Create a money buffer.
The idea was to have €1000 physically near you — and not do anything with it — to teach yourself to allow money to exist without spending it so you could stop going back to a €0 (or negative) balance in your bank account.
I put this into practice by keeping €1000 in an envelope in my bedroom, and it helped me build trust with myself around money and become more financially responsible. I had to teach myself to save money, not just spend and invest, and it gave me a feeling of abundance and safety.
That way, no matter what happened, I had that €1000 available as a buffer — this helped me shift out of a scarcity mindset, which was key in improving my relationship with money.
3. Save 10% of Your Total Monthly Income
Once I created a money buffer, I was able to put something else into practice that I learned from George Clason’s book, The Richest Man in Babylon. He wrote that if you aim to save the money that’s left over at the end of the month, you won’t have anything to save, so it’s better to put your money into savings at the beginning of the month.
Clason also wrote that people can usually continue to pay for their basic needs with 10% less than they have available, so he suggested saving 10% of your total monthly income (obviously, there are exceptions to this rule, but this is a general statement).
Following this advice, I’ve been able to save a lot of money. At one point, I had €10.000 saved up — that came in handy when I had unexpected expenses pop up.
Even if you can't save 10% right away, start somewhere; it doesn’t have to be all or nothing. Imagine how €30 a month would build up over time if you never touched it.
Also: If you have more than 10% of your total income to spare, consider investing to build up additional wealth.
4. Thank Your Money as You Spend It
This tip may sound strange, but if you get angry when you spend money, you’re only strengthening a bad money mindset. Instead, try thanking your money as you spend it.
- When you pay a bill, thank your money for giving you the ability to enjoy the service you’re paying for.
- When you buy something, thank your money for allowing you to have those goods or services in your life.
- If you have employees, thank your money when you pay them because it’s allowing you to receive support as you also support others.
Rather than resenting the fact that you have to spend money, you can feel grateful that your money allows you to purchase things that improve and enhance your life, whether you’re buying material items or paying for travel.
The next time you’re feeling upset, angry, sad or resentful about spending money, remember something very important: You can always make more money.
So in order to attract more money, be thankful what it allows you to do in the first place.
BONUS: Balance Your Energy to Improve Your Financial Well-being
Money is simply a form of energy, so if you are energetically imbalanced, you will likely have a money problem.
You may notice you have an energy imbalance if you are working hard but not making much or enough money. If this is happening in your life, you may want to consider raising your rates — but you’ll definitely want to take back your control over money.
Do you want tips on how to increase your income without working harder? Sign up for my free (Dutch) “10 Hacks om je Omzet te Verdubbelen” webinar.
In this webinar, I share 10 hacks that you can apply to your business TODAY and will help you make more money. Sign up here: https://fastforwardamy.com/10omzethacks.
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