A person’s money mindset affects every aspect of his/ her financial life. People who don’t save money but spend everything they have or those who stay deeply in debt are often acting out of these unconscious mindsets. A negative money mindset affects the filters through which life is viewed; this causes people to literally not see financial opportunities that are in front of them.


Fortunately, a person’s money mindset can shift. As a Forbes article points out, a person’s money mindset is influenced by a relationship with the self. The better a person treats him/ herself, the more this negative money mindset changes because financial health becomes a form of self-care.


Financial Beliefs = Financial Decisions?

Mint.com suggests that people look at the entire thought process involved in each financial decision they make. It may even be helpful for them to keep a money journal. They should write down the financial decision they made, what they considered when making it, etc. They money journal can also be a place where they write down their purchases. Often people’s spending is unconscious, particularly when it comes to using credit cards. Putting a financial decision in writing makes the unconscious conscious.


Read Financial Books and Blogs

It’s nearly impossible to change a habit or belief without replacing it with another one. Reading books and blogs about money helps a person understand how money works. For example, books like The Millionaire Next Door, they learn the spending and saving habits of people who became millionaires in one generation, without having won the lottery or inherited money.


The truth is most people who have money aren’t movie stars on TV. They have money because they spend less than they earn and invest a lot. However, people who do not read about this and other money topics don’t know that. Reading about money helps a person understand that being wealthy isn’t an accident or a matter of luck. With the right tools, a person can become quite wealthy.


A Person’s Acquaintances/ Friends Matter

It has been said that we become most like the five people we hang around with the most. A person who wants to change his/ her financial mindset may need to also change who he/ she spends a lot of time with. This isn’t about being better than. It’s about seeing how people who are better with their money think and behave. As has already been stated, it’s impossible to change an old money mindset without having a new one to emulate. Hanging around people who are good with money allows that emulation to happen.