What is Money Mindset and why is Money Mindset so important for YOU?

Your Money Mindset is how you view the world, it’s your paradigm about how you think money works and how your interaction with the world works and controls everything and not just about money, but the way you view the world.

Your money mindset is how, you use your time, your energy, your contribution and what you see in your life. You know what if you think of yourself as somebody who's got more than enough resources to do whatever you want, achieve your goals and you'll act that way you'll become and I think with money in particular.

Our money mindset is influenced by everything we see growing up and around us. Your mindset is influenced by whatever culture you're born into, you tend to take on those views or paradigms. For example, if you grew up seeing your mum and dad or siblings fighting about money then this will likely lead to the belief that there was never enough money in the world. This will likely lead to a behaviour of scarcity around money rather than believing that money is abundant. You may believe that you can't afford what you desire and that all those people who are rich, are snooty or stuck up. There may be shame around money or a belief that you are not good enough or that you believe that you don’t deserve to have money.

The good news is that it is possible to change your mindset. However, a lot of our money mindset and beliefs are held in our subconscious minds. This is part of the brain that you're not even aware of. Your subconscious mind will impact how you handle money and handle everything else in life. For example, if you end up getting a bigger and bigger wage, but always feel like there's not enough money at the end of the month, then it's probably how you interact with money.  It’s often down to your beliefs and money mindset that impact behaviour. Money Mindset is so important and drives everything else in your life.

You have your inner game, which is your money mindset, and you have your outer game which is your asset allocations meaning how you allocate your assets. An example of asset allocation is do you keep money in savings, you put it into investments in the stock market, do you buy a house?

Your money mindset is your inner game, how you think and feel about money. Your money mindset is how you view the world.  This is known as your paradigm which is really important. There's a really good book called Seven Habits of Highly Effective People. And he also talks about paradigms. He talks about a paradigm like putting on a pair of glasses. So wearing new glasses is like changing your paradigm,  you can now see things you might not necessarily be able to see that far ahead previously.  

Changing your money mindset means you can now see 10-20 years ahead in your life. By changing how you think (or by changing your paradigm), you can appreciate things much more you might not necessarily have appreciated a bit like putting up a glasses so you can see the trees growing and you can see you can see dangers as well like a car approaching this is a change of paradigm. You can actually improve your life by avoiding this danger or avoiding this kind of how you think and feel around money.

Money mindset is impacted by our environment or how you grew up is super important to us. So we are influenced by our environment, the area we grew up and also by our parents. Our money mindset is also impacted by our friends, who we choose to associate with, our work culture, and the books or TV we watch.

The good news is that we can actively change our money mindset, by reading successful people, finding a mentor or coach or focusing on personal development.

A great start to improving your money mindset is investing in yourself by reading Millennial Money Mindset. This book aims to change how you think about yourself, money and the world around you.

You can buy this book now by clicking this image or link below

Millennial Money Mindset by Neil Doig

 https://www.amazon.co.uk/dp/B09S5YCHVL

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