11: Rewire Your Brain for Abundance: Why Mindset is Your #1 Financial Tool
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Today I want to talk about your mindset. Specifically, your money mindset. Or, how do you think about money? What are you subconsciously saying to yourself? Why is this important and how does it affect your relationship with money? These are all things we are going to explore today.
Ok, be honest, what was the first thing you thought of when I mentioned mindset, specifically your money mindset? Maybe you were a bit skeptical or doubtful. Mindset? What does that have to do with achieving my financial goals?
To which my answer is – everything!! I believe this is one of the key pieces to your success with finances and I talk about it with clients all the time! Just stick with me and I’ll explain.
First, let me tell you about the text I got from a client last week.
“You know what is a really awesome feeling? Being able to pay a surprise tax bill with money already budgeted. I was able to pay it with gratitude instead of despair. Truly, it’s not about the amount of money, it was about the mindset. You helped me shift that to one of gratitude.”
Wow. That’s a powerful shift in the way she felt about a tax bill. I can’t say I know anyone who actually enjoys paying taxes, but having a gratitude mindset around a tax bill? That’s an entirely different way to look at an unpleasant situation.
Ok, so what is your money mindset anyway?
Your money mindset is the set of beliefs, attitudes, and thoughts you hold about money. It shapes your financial decisions, influences your behaviors, and ultimately has a profound impact on your ability to achieve your financial goals. Having a positive money mindset means viewing money as a tool for growth, abundance, and opportunity, rather than a source of stress or limitation.
This isn’t about gaslighting yourself into thinking everything is perfect, but rather paying attention to the words you are saying to yourself.
Don’t believe me? Take it from this quote from Henry Ford: Whether you think you can, or think you can’t, you’re right.
Because, the way you talk to yourself about money can either empower you to keep moving forward on your journey or hinder your financial success. Negative self-talk, such as I'll never be good with money or I can't afford that, reinforces limiting beliefs and keeps you stuck in a scarcity mindset.
On the other hand, when we practice positive self-talk, like affirming I am capable of managing my finances wisely or declaring I attract wealth and abundance, we begin to rewire our brains for success. By adopting this empowering mindset, we open ourselves up to new possibilities and opportunities for growth.
There is an entire book around this concept that was originally published in 1937 and is still in print today. It is called Think and Grow Rich by Napoleon Hill (affiliate link). In my opinion, it is a bit of a dense read but the concepts he talks about are exactly what I’m sharing with you today. The CliffsNotes version of the book is that you first have to believe what you want is possible. Truly believe in yourself, deep down. Then, focus on thinking about your goals daily and making a plan to get there, and you will be successful. I will go ahead and link to the book in the show notes anyway, in case you want to check it out!
So if you think about Napoleon Hill’s theories in combination with the Henry Ford quote, why would you not choose words that uplift and inspire you on your journey towards financial well-being?
That being said, you might be unintentionally sabotaging yourself. Many people don’t realize this but, our subconscious minds play a significant role in shaping our financial outcomes. It's fascinating how deeply ingrained beliefs about money can impact our behaviors and ultimately affect our financial success. If you find yourself constantly struggling with money or feeling like you don't deserve wealth and prosperity, it may be time to examine your money mindset.
Negative beliefs surrounding money can lead to self-sabotaging behaviors that hinder your financial progress. Procrastination, overspending, or avoiding important financial responsibilities are all signs of an unhealthy relationship with money. By becoming aware of these patterns and working on shifting your mindset towards abundance and positivity, you can start to take control of your finances and create a more prosperous future for yourself. This is one of the four areas of money that I work on with my clients. If you haven’t listened to episode 3 yet, go back and take a listen. In that episode, I talk about the other three areas that also impact your financial wellbeing.
Ok, so how can you work to improve your mindset? One of my favorite tools is money affirmations.
Affirmations are powerful tools to reprogram your subconscious mind and shift your money mindset towards abundance. By repeating positive statements about money regularly, you can begin to rewire your thoughts and beliefs. It’s important to note that this will be a process. The things you say to yourself and others about money are things you’ve likely been thinking or saying for decades and it’s not as easy as flipping a switch to turn those thoughts off. Like I said, you are literally rewiring the response your brain automatically brings to the surface when something triggers it. But, by beginning to become aware when those thoughts do pop up, and gently repeating a positive affirmation instead, you will begin to feel a shift over time.
Here are a few affirmations to get you started:
I am worthy of financial abundance and success.
Money flows easily and freely into my life.
I am in control of my finances and make wise financial decisions.
Every dollar I spend comes back to me twofold.
I am grateful for the wealth that surrounds me.
I am open to receiving money in my life.
I am worthy of the wealth I desire.
The key here is to find ones that resonate with you and then repeat them to yourself throughout the day. Here are two ways I personally do this. The first is by putting daily reminder notifications on my phone. I have 4-6 different affirmations sprinkled throughout the day. It’s just a little reminder to myself to pause and sit in the space of gratitude for a few seconds.
The second is while I’m going to sleep at night, I will repeat an affirmation to myself. Not only does this help with the affirmation repetition, but it gives my mind something else besides my endless to do list, to focus on so I can fall asleep easier.
I encourage you to find a few affirmations that feel good for you right now and start repeating them to yourself. I have a free list of 30 affirmations that you can download on my website to help you get started. Go to TEE.com/affirmations. I’ll link to that in the description/show notes as well.
The key is to make sure they do in fact resonate with you. Because it very well may be that some of these are hard to believe when you are first getting started. For example, I am a debt free millionaire, might feel like a goal you’ll never be able to achieve. Instead, start with something you can believe and that is in fact true. What about, every payment I make brings me closer to a debt free life. That is true, even if maybe it doesn’t feel like it if you’re also paying interest! But every extra payment you make, will help bring you closer to that debt free life.
Remember, changing your money mindset is not an overnight process; it requires consistent effort and practice. Money affirmations are just one tool. You could also incorporate daily habits like reading personal finance books or blogs, listening to podcasts (hey great job on that one!), or journaling about your financial goals and aspirations. You can make changes to who or what accounts you follow online. Pay attention to how different posts make you feel and unfollow anything that doesn’t feel supportive for your journey right now.
And finally, you could also surround yourself with positive influences and seek support from like-minded individuals who can uplift and inspire you on your journey.
One of the four keys to achieving financial success starts from within. By adopting a positive money mindset, changing your self-talk, and practicing money affirmations, you can start to break free from limiting beliefs and unlock your full potential. It's all about consistent effort and embracing the journey of transformation. As you do so, watch how your relationship with money evolves and opens doors to a brighter future filled with financial abundance.
Because, at the end of the day, money is simply a tool. The more positive you feel about it, the more effectively you can use it to build a life you love. Because remember, your biggest, wildest dreams are within reach. Go make some money moves so that you too can start to experience financial freedom.
RESOURCES MENTIONED IN THIS EPISODE:
30 Free Money Affirmations: https://www.theexuberantelephant.com/affirmations
Think and Grow Rich by Napoleon Hill: https://amzn.to/48FFPzT
All Book Recommendations: https://www.theexuberantelephant.com/books
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DISCLOSURES
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YNAB Disclosure: I am a YNAB Certified Budgeting Coach, which means that I have been trained to coach people on using YNAB software and the YNAB budgeting method. I have met select requirements of You Need a Budget LLC in order to receive this certification, which means that I have the ability to competently coach YNAB to others. I am not an employee of YNAB, and all non-YNAB related opinions and recommendations are my own. My views do not reflect the views of YNAB and its employees or affiliates.
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