5 Simple Ways To Understand Where Your Current Money Mindset Is At
- Brainz Magazine
- Apr 25, 2024
- 5 min read
Natalie Naaman is a Mindset Coach (and Personal Trainer), and her absolute passion and purpose is to help individuals become Healthy, Happy & Strong, both mentally and physically. Over the last 5 years, Natalie has been coached by some of the leading experts in the Mindset & Personal Development field, including the Godfather of Personal Development himself, Bob Proctor.
Let’s talk about Money. How does that short statement make you feel, initially? Does it make you excited? Are you calm? Does it make you uneasy or scared? Does it make you embarrassed? That initial feeling that you felt when I wrote those four short words, is something you should be paying very close attention to, as it will be shaping what your success either currently looks like, or what it WILL look like moving forward. How you feel about money is always going to be detrimental to what success you see financially.
As individuals, we either have a “Rich” mindset or a “Poor” mindset when it comes to money. A lot of the time, many individuals get very close to creating the success that they’ve always dreamed of, and sometimes they do actually create that success… But, it doesn’t last, and that is down to the “poor” mindset that they obtain. Somebody with a poor mindset cannot achieve (or if they do achieve, cannot sustain) a rich reality, & it all comes down to the conscious & subconscious thoughts that they have about money.
With the above in mind, I’ve come up with 5 simple ways to help you understand where your money mindset is at today. These key indicators will tell you whether you have a “rich” mindset or a “poor” mindset, which in turn will help you understand where you need to do some work / make some changes to get closer to those goals.
1. What's your current money mentality?
Do you operate from an abundance mentality? Or do you find yourself operating from a scarcity mentality?
Those with a “rich” mindset will almost always be operating from an abundance mentality; you believe there is an abundance of opportunities, wealth, & resources available for yourself and everybody else! You see possibilities for growth, even when challenging situations come up. Oppositely, those with a “poor” money mindset almost always come from a place of scarcity & fear. You believe that resources, opportunities & wealth are, in fact, limited and that there is not enough for you or anybody else. With that in mind, you often feel anxious about not having enough money, or about money running out; you operate from a place of lack.
Question for you to note down & think about: would you say that you operate from a place of abundance or a place of scarcity & fear?
2. Are you investing in personal growth?
Are you somebody who tends to prioritise investing in yourself and your education? Do you tend to want to gain new skills & take action on those wants so that you can enhance your earning potential? If the answer is “yes”, then you are on track towards success! This is part of the “rich” mindset that those who achieve sustainable success almost always possess.
On the other side of this, those with a poor mindset tend to have a real fear of failure… a fear of loss, and this fear of losing will usually paralyse any form of decision-making that needs to be made. Due to this, these individuals avoid anything that could mean that they will lose money, such as investments, or any form of opportunity that may be seen as a financial risk. We all know that where there is a risk, there is always an opportunity for huge success, too, even if it feels scary. If we are fully avoiding this risk, we are also fully avoiding the opportunity to succeed!
3. Is your relationship with money positive or negative?
Those with the “rich” mindset view money as a tool, and a tool that can be used for positive impact. They feel very comfortable talking about money, and they feel mostly confident in making financial decisions. This takes us back to the very first paragraph of this article, where I asked how those 4 words “let's talk about money” made you feel. If those negative feelings such as discomfort, anxiety, maybe even anger, popped up, then this is a sign that your relationship with money isn’t currently in that positive bracket.
Individuals with a “poor” mindset will have negative associations with money. Do you ever find yourself saying things like “money is the root of all evil” or “money doesn’t grow on trees”…? Maybe you don’t even say those things yourself, but maybe your parents or teachers would say those things to you when you were younger. That will have had an impact on what you also believe, especially if you have never questioned those phrases & made changes to your mindset surrounding this topic, because subconsciously, you will have taken in those negative phrases & they will have shaped your money paradigm which currently is shaping your reality. Those with a “poor” mindset usually feel guilty for spending money, too.
After reading these first 3 indicators, you should be getting a clear vision of where your money mindset is at today.
Let’s move on to the last 2!
4. Do you embrace risk & opportunity?
I touched on this briefly in point number 2. Are you open to taking calculated risks in order to achieve financial goals? Or do you avoid taking risks? Do you avoid conversations in general which are related to anything to do with finances and money?
If you want to see sustainable success, I encourage you to really start (if you’re not already doing so!) embracing risk and opportunity. As stated above, risks should be calculated, and you must always listen to your gut feeling/intuition, which will always speak volumes. But you have to take that leap sometimes! If you don’t, you could be holding yourself back from some of the biggest successes that are out there for you.
5. What do your current financial habits portray?
Our financial habits reflect our money mindset quite drastically. Those with a rich mindset usually prioritise intentional spending on assets. They also invest in saving for the future. In contrast, a poor mindset usually involves impulsive spending habits and have difficulty with saving. If you can evaluate your spending habits in areas such as those I’ve just mentioned, it will help you gain an insight into your money mindset & help you identify areas for improvement.
So, hopefully, now you’ve got a clearer idea of where your money mindset is at! Understanding your money mindset is crucial for achieving not only financial success, but your overall lifestyle and fulfilment. Hopefully, this article has encouraged you to reflect on your current beliefs, challenge those that are limiting you & your success, enhance the ones that are already serving you, and use this as a pivot to get closer to your wants and goals.
Natalie Naaman, Mindset Coach & Personal Trainer
Natalie Naaman is a Mindset Coach (and Personal Trainer), and her absolute passion and purpose is to help individuals become Healthy, Happy & Strong, both mentally and physically. Over the last 5 years, Natalie has been coached by some of the leading experts in the Mindset & Personal Development field, including the Godfather of Personal Development himself, Bob Proctor. Natalie is dedicated to teaching others how to reach their full potential, by giving them the tools & techniques to access their subconscious mind and in turn, create their own reality through their own thoughts and feelings. Natalie is certain that you are capable of achieving the life you truly wish to live.
