June 11, 2016

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Last week we talked about the health of your money mindset. You learned how to determine if your money mindset was in good shape or bad. So now that you know the health of your money mindset, what’s next.

So, you’re beginning to suspect that you might have a poor money mindset and you’d like to change that. But first you have to get to the root of your money mindset. Until you understand why you think the way that you do, you can’t change it. Here are four common reasons you might be struggling with a poor money mindset:

Your parents had poor money mindsets.

For better or worse, families impact our relationships with money. If you grew up in a home where money was scarce, your attitude toward money may reflect that. You might constantly worry about money and stress over everyday spending, like buying groceries. You always look for the cheapest option (even if it isn’t the best value) and you focus on how everyone is trying to take money from you (the government, the big corporations, the health care system, etc).

There’s nothing wrong with being frugal and wisely considering your budget. But there is a problem when you adopt a poverty mentality. You can struggle with a poverty mentality even if you’re in a great job and make plenty of money. This is because your attitude toward money is steeped in the belief that there’s only so much to go around. As a result, you hold onto your money tightly.

You’re bitter about your financial hardship.

Sometimes, people experience financial hardship because someone else made poor choices. For example, if your spouse walked out on you and your kids, you may struggle to pay the bills on a single parent income. Maybe a relative stole your college fund or fraudulently used your credit cards.

No matter what your struggle is, you didn’t cause it. It’s understandable to be angry in situations like these. You were wronged and you deserve justice. But if you become bitter over the injustice, it clouds your thinking.

You begin to tell yourself that you’re a financial victim and that things will always be this. But your situation can’t improve until you’re open to improvement. As long as you think of yourself as the victim, you’ll have a hard time developing a healthy money mindset.

Your friends have poor money mindsets.

You and your friends get together and eventually; the topic of money comes up. You and your friends complain about the cost of gas, the mortgage, and groceries. Then the conversation turns to all of the things you can’t do – afford that fancy vacation, send your kids to that private school, buy a big house, etc.

Before you know it, the conversation is over and you’re left feeling horrible. The reason you feel bad is because you spent the past hour focused on everything you don’t have and can’t afford. That’s because a poor money mindset is contagious. The people you surround yourself can help you achieve all of your financial goals or they can hinder you.

You lack self-confidence.

Sometimes, a poor money mindset can be traced back to a lack of self-confidence. Maybe you had a teacher that told you were stupid when you were young. Maybe you don’t understand what certain financial terms mean. Rather than tackling these issues, you try to avoid money altogether, so you worry that you’re spending it wrong. You don’t think you have the intelligence to set up a budget or save for retirement.

If you suspect your lack of self-confidence is affecting your money management, then you need to reach out to someone else. Don’t be afraid to buy a book on budgeting or taking an online course about retirement funds.

It’s time to take control of your money and develop a healthy money mindset. You can start this process by discovering what’s holding you back and actively working to let go of your toxic money beliefs.

Shift Your Mindset Change Your Life!

 

Ready to shake your poor money mindset for good? Download your free Money Mindset Workbook filled with tips to change your money mindset!

About the Author

Valerie Priester

Helping women entrepreneurs go From Overwhelm to Profits™!

Valerie Priester is a powerhouse business and mindset coach for women entrepreneurs. She helps them to eliminate confusion, frustration, and overwhelm so they can confidently grow profitable and sustainable businesses.

Through her company, Victorious Life Coaching LLC, She provides mindset, money mastery, and personal development coaching. She has years of experience and a proven track record of empowering women to achieve their goals and create the lives they desire. Valerie is a certified Master Business Mindset Coach, a certified Sacred Money Archetype™ Coach, a certified Money Breakthrough™ Business Coach, a certified Les Brown Coach-Trainer-Speaker, a certified Christian Life Coach, and a Motivational Speaker.

Valerie understands what it means to struggle. She's been through some of life's most painful challenges, including unhealthy relationships, failed businesses, and years as a struggling single parent. But Valerie doesn't give up easily. She fought her way back and discovered her confidence and self-worth.

Now she helps other women do the same. Her coaching style is transformative, and she helps women address their self-limiting beliefs, negative self-talk, low self-esteem, and lack of self-confidence.

Valerie knows what it takes to overcome adversity and live victoriously. She is living proof that anything is possible when you have the right mindset and are willing to do the work required for success.

Valerie has been mentored by some of the top leaders in the Business and Personal Development industries. This has equipped her with the expertise to specialize in helping women who are ready to see real change in their lives.

Her approach enables her clients to gain clarity on the business and lifestyle they most desire. Valerie is compassionate but firm, loving but demanding – her desire is to see her clients win in business and in life, not just exist.

Valerie is passionate about empowering women to Design Their Victory so they can Live Their Dreams.

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