How to create a positive money mindset
Your money mindset is a critical aspect to what happens with your money, so Glen and John shared their tips for how you can set up your mindset to achieve your goals, and make a difference in the world at the same time. Have a listen to money mindset part 1 and 2 for all the fun:
John’s tips
Look at your childhood values around money – for example, the dinner table conversation growing up – what was it about and how has this fed into how you view money now?
Spend, save, give – find that balance – work out a balance with these 3 things that works for you based on your belief around money – you may need to increase or decrease an area as time goes on, but use this as a guide.
Analyse your history of purchases – has that purchase served you well and was it in line with your interests, or was it for serving others? Go through each of your purchases in the same manner and make sure these align with your values.
Understand what you value – for example, I value having a good bike to ride and a quality pair of running shoes, but not concerned about buying a brand new car. The way I spend my money on both of these things is determined out of these values.
Talk about money with those closest to you. This doesn’t need to be about how much you or they have of it – simply just talking about money ensures you understand it and how it can work for you.
Don’t be afraid to invest in yourself. This doesn’t mean buying flash shoes, but rather it’s about investing in your mindset of life, your health and your wellness which leads to overall benefits in life.
Glen’s tips
Be pragmatic, balanced and humble. There’s always someone worse off than you and always someone better off.
Make contentment your goal. Comparison is the thief of joy and it will rob you if you let it take hold – aim to be content where you are no matter how much cash you have.
Be a champion of others’ success. Celebrate with them. Even if they’re in the same industry or profession as you – there’s enough limelight for everyone, so celebrate and share the success!
Don’t be a tight arse. You know if you’re one. It’s ok if you’re a saver by nature but you must not hold on to everything you get – there will be more. Spread the love and enjoy life with others.
Aim for relative success and define your own. Don’t compare your success to someone else’s. Create your own goal, based on your level of achievement so far, and aim for that. Success is how YOU define it.
Be an investor – not a saver. Change the way you think about dollars being directed to a project or goal – invest that money – don’t just save it if you don’t have a solid goal. Put it to work.
Delay gratification. Do the you of 5, 10, 20 years a favour, today. The you of tomorrow will thank you. Don’t expect everything now – it’ll be sweeter when the things want finally do come true.
Do not be held ransom by material objects. Homes, cars, boats, bikes, Gucci handbags. It’s just stuff. Unplug from commercial TV, radio, and social media if you have to. Don’t get distracted or weighed down by “things” that in the long run really don’t matter.
Be focused on helping others. The more people you help and inspire, the more money that will come in. All good things come back around.
You gotta be doing what you like. This is a long term play, but you’ll be more fruitful with your thinking and life if you are doing what you like. Not even love . . . just something you don’t hate or that sucks your joy.
Get in a position to dream for the future. This is so important for your money mindset. You need to be able to be clear minded without any other life stressors. This is not always easy. With a clear mind and no general life stressors – what can your future look like? You may need to unplug from your day-to-day at least yearly for “mindset maintenance”! Press pause on the madness of your life, step back, and assess. Then, get excited for the change!
It might not be environmental. Mental health is a real problem that affects someone you know, if not yourself. Take care of yourself. If you haven’t been feeling “right” or having trouble sleeping, with worry, anxiety – talk to your GP. Rest assured there is no judgement from your GP and in fact if you do need some help – they will be your champion.
The three P’s: patience, persistence, perseverance. Come back to these 3 principles – these will get you where you want to go, don’t give up!
Choose faith or fear. Only one can exist in your situation. What will you choose?
