Changing Your Mindset to Grow Wealth

Changing Your Mindset to Grow Wealth

Clear Your Money Hang Ups

You will have to dig a little deeper to work on this one, but it can take you far in terms of adjusting your mindset. What are your money fears and beliefs? Pay attention to your earliest memories about money and your family’s wealth beliefs. Did you or your family deal with any financial traumas, like a failed business, divorce or unemployment? Are you aware of how that has affected your current relationship with money? Maybe it has made you too risk averse, or you squander your finances because you don’t believe you can hang on to them. Working through some of your deepest money hang ups can make hitting your goals much more possible.

Check Your Emotional Money Connection

How closely are your spending habits aligned with your emotions? Do you spend excessively when you’re dealing with emotional turmoil, or are you so afraid of losing your money that you hoard it? Dealing with your finances is supposed to be rational, but for most people, they have a hard time separating money from emotions.

Looking closely at the motivations behind your money decisions can help you realize whether or not you’re making the right choices. Make sure you work with your spouse on this, as well.

Assess Past Mistakes

For a lot of people, certain resolutions show up on their list year after year but never get resolved. If you have a goal that you can’t seem to clear from your resolutions list, look closely at your past approaches. Have you implemented a similar plan every year without making any headway? Look for the ruts you get stuck in and do something new to shake up your approach.

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