What does money mean to you?  If you sit still with that question for a few minutes….what words come to mind? Freedom or restraint? Abundance or scarcity?  We all have a money story – our own unique set of feelings and beliefs around money.  These feelings and beliefs build our money mindset, one experience at a time, over the course of our lives. It decides, often subconsciously, how we make our money work for us in our life’s day to day.

So…Does your money mindset work for you? Let me ask that again…Is it working for you?

Did I hear you say it’s not? Don’t worry, you are not alone!  Most people in one way or another, at one time or another, struggle with their money mindset.  Our money mindset is deeply ingrained in us and can start as early as childhood. Reflecting on the environment you were raised in can often be the first step in beginning to unravel where your beliefs around money came from.  What is your first money memory? Who were you with? Did you view it as positive or negative? What can you learn from it?

As we grow into adulthood, our experiences with people, friends, coworkers, anyone you spend significant time with, continue to reinforce and further deepen these stories that we’ve created around our financial life.

Does this mean there is nothing to be done?  No, not at all.  Recognizing and understanding the reasons behind our decisions surrounding money is the first step to taking control and shifting your mindset.   It is the first step towards a healthy and positive relationship with money that will allow you to start crafting a life that sits in harmony with your values and core beliefs.

If you are stuck in a scarcity mindset – how can you ever make the leap to an abundance mindset? What happens when you fall off track?  It’s not that you are not committed.  It is that there is often a disconnect between who we are today and who we want to be tomorrow.

Simple tips that help you transform your money mindset and level up your financial future

Let go of limiting beliefs – I am just not good with money.  It’s selfish to want a lot of money. What beliefs around money do you maintain that no longer serve you?  There needs to be a shift to I am capable of achieving this from I can’t or won’t ever achieve this.

Focus on the future – See your future success and live as if you were already there. The old self-sabotaging habits will continue to creep in if you are only able to see yourself as your current identity and not as the person who has already achieved your desired goals.  When you hit a snag, ask yourself, what would my future self do in this moment?

Stay connected to your why – There needs to be a strong connection to the “why” or as roadblocks pop up along the way, as they most definitely will, you may lack the resolve to get through them.  Planning the course and staying the course are two different things. Focus on your why – what are your ultimate financial goals and dreams? What will your life look like? How will you feel when you achieve them?

Become intentional with your money – Make decisions around your finances that serve YOU.  Ask yourself, “Does this align with my goals and values?”  Keep in mind your financial goals, get systems in place to help you create habits around money that help you achieve what you want.

Practice daily gratitude – Being grateful for what you have can help you want less, remain disciplined and maintain consistency.

 

Part of what makes Lighthouse Financial Advisors, Inc. unique is that beyond being your financial advisor, we are also your financial coach.  We work with you on a continual basis to help with whatever challenges you face so that you can achieve your goals.  Make your money story work for you, be deliberate with your choices, experience change.  As our name suggests, we are your lighthouse, there to help you clarify your direction and always operate in service of your journey.

 

“How did you accomplish that?”  “Same as everything else. Gradually, then all at once.”

  • James Clear