Three Steps to Change Your Money Mindset

Oct 16, 2018

This is a fun topic, huh? Money is such a hard topic for people to discuss and the main reason we feel icky about it, I believe, has everything to do with how we grew up around money. Whether we had a lot or whether we were scraping pennies together to buy groceries. It’s understandable why we feel the way that we do. BUT, we don’t have to continue feeling that way. We can change our money mindset and I’m here to help you do just that.

Today I am going to talk about why you let money stop you from making changes in your life and how you can change your money mindset moving forward.

You think you don’t have enough. In other words, you have a scarcity mindset. I’d guess that most of us feel this way. Maybe you work a corporate job with a salary that is average, at best. Or you might work a job where you are paid commission, and you’re hustling hard but you may have a cap on how much you can make. And some of you are likely creative business owners scrambling to work with as many clients as you can to make enough money to get that delicious lavender vanilla latte, ya feel me?

I’ve never had a salaried job, but I have had my fair share of hourly wage and commission jobs, neither of which made me a whole lot of money. So I know what it feels like to look at your bank account and think, “I hope I can pay the bills this month on this tiny bit of cash.” It’s funny, and yet, it’s definitely not.

Let’s talk about how we can make some changes here.

First of all, while you may barely be able to pay your bills, you probably still buy expensive coffee drinks and eat out more than you’d like to admit. You may find yourself buying that new pair of shoes or the latest fall sweater. Maybe you have more subscriptions than you can count. And yet, you can’t figure out where your money went. I’d advise you to take a long hard look at your bank account. Maybe even print it out and highlight the areas you are spending that are considered “extras”.

Then, here’s the important part, pay attention to how that makes you feel.

Do you feel better temporarily but regret it later? Do you wear the shoes twice and then find another pair you like more a few weeks later and buy those? Do you follow fitness accounts on social media wishing you worked out more but can’t imagine paying $100/month on a group fitness class membership? Do you read healthy food blogs and see all of those gorgeous meals and think about how there is no way you could afford those healthy foods? Do you see an opportunity to work with a life coach to change your life for the better and wish you had the money but think you can’t afford it?

I have a feeling you do. I have a feeling you could probably come up with the money IF you changed your priorities. There’s the kicker. What are your priorities? New clothes? Looking stylish? Being part of the Saturday Brunch Club with bottomless mimosas? Attending every social event and spending way too much on appetizers? OR…being in the best shape of your life? Starting that business you dream of? Finally paying off the last of your student loan debt? Saving up for a dream vacation?

This is where things can change. This is how you make things happen, my friend.

You first begin to notice, then you shift your priorities, say no more often, choose yourself and your goals over what the crowd is doing. I could go into ways to save money by working out at home, shopping at grocery stores like Trader Joe’s and Aldi, and finding free resources online. Those things are helpful. But what I’m wanting you to do is shift your mindset.

You want to make changes in your life and money is an easy excuse not to. But it’s just that. An excuse. If you want something bad enough, you’ll find a way. You always do.

You found a way to pay for those shoes. You found a way to pay for brunch. You found a way to buy that online course you haven’t finished. I know this because I’ve been there. Changing money habits and a money mindset can be tough at first. But doing so for the sake of your growth and to make your life so much better is absolutely worth it. I can guarantee that.

I’ve been reading the book Loving What Is by Byron Katie and I came across this quote last night:

“Who would you be without the thought ‘I need my money to be safe’? You might be a lot easier to be with. You might even begin to notice the laws of generosity, the laws of letting money go out fearlessly and come back fearlessly. You don’t ever need more money than you have. When you understand this, you begin to realize that you already have all the security you wanted money to give you in the first place.”

Let’s go through the steps to make some changes.

Step 1:

Pay attention to your spending. Seriously. Everything. Notice what you’re buying. And notice how it makes you feel.

Step 2:

Decide your values. Do you value simplicity? Do you value adventure? Time with family? Vacations? Organic food? Wellness? Choose five. The five things you value most.

Step 3:

Match your spending to your values. It will help you shift your mindset around money and give you the kick you need to prioritize what matters most. If you value growth but aren’t spending money on anything that helps you grow, you might want to change that. Maybe switch the coffee orders to a new book. Maybe save on the clothes and choose a month of working out instead. And once you start spending from your values, suddenly you’ll want to spend more in those areas because you will FEEL better.

Perhaps that was a little harsh. But I think you needed to hear it. Heck, I needed to hear it. If you have questions or comments, let me know. I’d love to talk more about it. Head over to my Instagram (@_kristenelrod) or comment below to let me know your thoughts.

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