6 Ways to Build a Positive Money Mindset 

How you view and think about money matters a big deal. Your thoughts can attract or dampen any effort to create money. 

If things haven't been working for you recently in the financial department, you most likely need a positive mindset to see positive changes, moneywise. 

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But What's a Positive Money Mindset?

As implied, a positive money mindset is a productive, optimistic, motivated view of money, your efforts in making money and positive beliefs about your ability to improve your financial position. 

This is as compared to a negative money mindset which is a defeatist attitude, readiness to accept failure, thinking the odds are stacked against you and a general reservation to “fate” - that you may not be able to change your financial situation no matter what you do. 

Of course, past stresses or mistakes surrounding your money can be the primary reason you no longer have the motivation or the energy to improve your financial situation. Perhaps you aren't earning as much as you aspire. If too much debt weighs you down, it's understandable why money conversations and thoughts may give you anxiety.. 

Whatever the case, being negative can lead to even more significant money issues. Only an enthusiastic attitude can help you heal and begin an upward surge towards a better relationship with money.

Tips to Build a Positive Money Mindset

1. Reflect on and Forgive All Your Past Money Blunders

Letting go of past financial mistakes can never be easy as the regrets, guilt, and shame keep nagging at you, yet it's the only way to move forward and create better plans. Shifting your mindset is about giving yourself compassion as you would another person over mistakes they would have made. There is always something to learn from the hang-ups. 

The first step is to examine the learning points. If possible, note them down and carry them along. Since you are on the other side of the mistake, the only option is to start to make better choices once you have identified the faults. 

You also become self-aware if the possible triggers can push you into another mess and avoid them. If your triggers are overspending or failing to budget, you have to recognise them and dodge them quickly. 

But that is not all. The path to forgiving your past money mistakes also involves taking responsibility and modifying any bad money habits that were the reason for your financial mistakes. 

If you keep getting upset about that failed business or huge debt, it's time to stop beating yourself up. Instead, create a plan with steady steps toward healing and starting afresh.

Of course, you might see starting small as futile and almost humiliating. Yet the best way to start building healthy money habits is to help you reach your financial goals. 

Read Also: 5 Ways to Practice Financial Self-Care - Money Psychology 

2. Stop Comparing Your Financial Circumstances to Others

Some people can't help but look at their friends and feel they are doing much better than them. Such a feeling can be so defeating, to feel lesser and not be in a better place. 
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The funny thing is that the same people you are comparing yourself to are doing the same to others, poisoning the air with too much jealousy, negativity, and self-loathing.

Read Also: Feeling “money envy?” Here are 7 Ways on How to Get Past It

The thing about comparison is that it slows your progress. You spend too much time thinking about your struggles and less time being creative. The comparison also leads to more spending because you want to look like the other person. 

Yet the truth is that your priorities are unique. See it this way. Your friend's goals might be short-term, but you can make yours long-term. As they go for one vacation after another, you can create a retirement fund and investment fund. 

As they buy the most expensive clothes and jewelry, you can decide to establish your own emergency savings fund.

To stop comparing:

•  Set financial goals that reflect your priorities
•  Remind yourself daily of those goals
•  Create a schedule to act on the goals 

Whenever the comparison thoughts creep in, do things that enable you to move closer to your goals. It could be as simple as updating your budget.

Additionally, examine the actual reasons for this comparison. Is it that there are some missteps that made you lose on some opportunities? Do you need to network more? Are there habits you need to dith. Instead of letting the apparent progress of your peers put you down or force you into unproductive habits, use it as motivation to make some changes that will reward you in the longer term. 

Read Also: Is Social Comparison Slowly Making You Poor? - Money Psychology 

3. Establish and Maintain Healthy Money Habits

A positive money mindset involves making changes to how you handle money. It's about your relationship with money, moving from fear and anxiety about your bank account to feeling at ease. But you can only feel at ease if you visualize success. Things to envisage could include: 

•  A healthy savings bank account
•  Zero balance to your high-interest debt
•  Having some extra money in every paycheck to help others
•  A comfortable and financially secure retirement

 Such a vision leads to better money habits such as: 

• Attaining more money management skills
• Reducing/eliminating unnecessary expenses
• Weighing every financial decision you make
• Saving before spending
• Shopping smarter
• Paying off your debts
  Read Also: Consistency Versus Intensity: Building Life-Changing Money Habits

4. Surround Yourself with Inspiring Money-Positive People

It can be challenging to surround yourself with people who do not share your vision. People stuck in a certain money comfort zone won't help you make better choices. Identifying what you want and the right support system can help the way you feel and think about money. 

The right mentors in your corner can change your perspectives and inspire you to make the right financial decisions. You tap into their thoughts and actions to help you achieve what they already did. 

But it also begins with a process, including your innermost desire for financial success. For example, do you want to grow your investment to certain levels? Are you eager to ramp up your earnings to boost your savings?

Perhaps your primary goal is to save up for a house or any other financial goal. It's all about gaining clarity on what it is you want. Only then can you actively seek out like-minded people with the knowledge and skills to show you the ropes.

The thing about mentors is that some of them might also have made various money mistakes. They might have walked your exact path to reach where they are. And so, they teach you to drop the nervousness and stress surrounding your money situation and to take steps toward a better life instead.

Read More: Want to Achieve Your 2022 Financial Goals? Get a Money Buddy - Thank Us Later

5. Practice Gratitude for the Little Positive Steps You Take

A brilliant positive money mindset is to be grateful for your current circumstances and every step you take to improve your money situation. While you may consider some of the actions you take as small and insufficient, persistently doing them can lead to immense positive results in the long term. 

• Being grateful enables you to focus on the positives you are doing.
• It also motivates you to do even better than now.
• Gratitude is an essential driver of contentment. You see no need to compare yourself to others, which helps you avoid things like overspending. 

There is more to having gratitude even when your finances are bleak. For example, 

• You can be grateful for the huge debt burden because it disciplines you into making better personal finance decisions.
• You will be okay even after having overspent on your grocery budget 

In this case, what could have been a negative thought about an overwhelming debt or overspending, turns into a positive thought. The positive thought then trains you to make a better choice next time.

Read Also: Money Mindset Shifts That Pay Off - Money Psychology

5. Love Your Money as Much as You Can 

Talking about money is taboo to many people. It's almost weird to say you love money or make tons of money openly. People will think you are either greedy or bragging. 

Yet how can you ever have a positive money mindset if you fear the thing that helps you, provides security and allows you to afford good things? 

Good feelings about money will prompt you to make choices such as careful and loving handling of your finances.
Loving your money helps you evade all the shame and guilt surrounding it. It also allows you to exercise your generosity, helping others. Money-love should be your priority because: 

• It helps you meet your financial responsibilities
• Money provides security in many aspects of life
• It allows you to do good in the world

Read Also: 7 ‘Taboo’ Money Topics We Should Be Openly Discussing

Wrapping Up

The foundation of your financial success depends on how you relate to your money. A healthy, positive mindset with excellent money habits is all you need to help you create a functional, happy budget that enables you to reach your financial goals without fear, guilt, and thousands of restrictions.