Sign in to follow this  
ShayB

How can you develop a "Money Mindset"?

Recommended Posts

I grew up with very little money. Probably poor, truth be told, but usually we had enough to eat and we never had our lights/water shut off, so we had it pretty good compared to some.

But money has been a difficult topic for me. Lots of negative stuff ingrained from childhood.

"Rich people are evil/horrible/dishonest."

"Rich people go to hell."

"Money isn't important."

"I'd rather be happy than rich."

"Trying to get rich is a sin."

And a lot more. :wacko:

So how do you get yourself into a mindset of making money? How do you learn to see what you're worth?

For me, it was a few things:

  • Reading tons of books
  • Getting to know wealthy people (a real eye-opener) and hearing how they got wealthy
  • Reading articles about how businesses were started and then sold

There's a HUGE amount of money in this world, and I look at things differently now. I still have work to do, but I am beginning to see my true worth and the potential for my business. (One example: There was a time when I was grateful for $6 an article. Now I would laugh at that rate.) 

Did you always have a positive money mindset, or is it something you worked/are working on?

What do you recommend for people to change their way of thinking?

Share this post


Link to post
Share on other sites

Good Lord Shay!  BIG Mike and I were just talking about this on Skype!  

I, too, grew up with very little money.  Same as you, we always had food, lights and heat (never enough imo!  LOL.), but we were taken care of.  My father worked 18 hour days, I never saw the man.  Our weekends, though, were dedicated to family time, period.  We went camping, to the lake, or just had a water fight inside and outside the house!  .. there's more, but it was always about family.  

My parent's mind sets were 'work hard for the man and save your money!'  It was really hard for me because I've never thought that way.  

I have always made money, so has my husband.  When our financial meltdown happened, I went from being the 'rich aunt, daughter', to 'I told you so!' in their eyes.  Most of my friends disappeared, too.  

I've beaten the crap outta myself the last few years with guilt.  Lately, I've realized that I know I can rebuild my 'empire', and I have been doing so.  My huge change was what BIG Mike and I were talking about and that's working to just make money.  Sure, we all go through it, you have bills to pay, but I have started to realize I know and can do more than most and I needed to stop taking on problem clients.  They were sucking the life out of me. 

The biggest one, was to stop panicking when a bill needed to be paid!  I kept finding myself reaching out for help when all the help I needed was right in my silly little head, but I just wouldn't believe it.  <-- shout out to Mike Friedman for that one!  :wub:  

Anyone that is struggling right now, I would recommend you stop whatever you're doing and really consider what Shay asked.  What exactly is your money mindset?  

There really is a ton of money out there, now more than ever.  Let yourself go get it!  Stop thinking about the 'what ifs' !!!  Roadblocks and disappointments are going to happen!!  How you get through/over them is what makes the difference.  

Trust yourself!  Surround yourself with successful people and never stop learning.  Don't forget to give back... 

Share this post


Link to post
Share on other sites

I grew up in a very poor, highly dysfunctional family - the best meals I had most days were the free school lunches during the school year. I won't go into the sordid details, but I learned from around the age of ten or 11 that money does matter and if you want it, you're going to have to work your ass off for it, taking huge risks at times and continually looking towards and planning for the future!

Setting aside all the cliches about money, it does one critical thing - it buys you security and nothing can beat that. Like pretty much everyone, I've had my high and low points in the pursuit of wealth, beginning in my mid-twenties. At the risk of sounding arrogant, it was at that point that I finally realized just how smart and talented I really was. As my confidence grew, I realized that there was no stopping me :D

Like you Shay, I'm an avid reader, devouring 4 to 6 books a week - that laid the groundwork for me in terms of understanding that absolutely nothing could hold me back. I grew up in a household replete with negativity, being told over and over that I'd never amount to anything, yet out my eleven siblings, I'm the only one to complete a university degree (I have 3 now), had a wildly successful professional career and retired at the age of 39. I would attribute much of that success to my interest in reading - the education never ends. 

What I think worked best for me is taking the long view - everything I do is designed to keep moving forward, whether through education, networking or just waiting for the right opportunities to present themselves. 

 

Share this post


Link to post
Share on other sites

I was raised in a very well off family.  My mom didn't want to work, and didn't have to. (Don't take this wrong - she worked hard, she just wasn't paid for it.  My father's career flourished because of her entertaining skills and their financial solidity had much to do with her investment cunning).  

I was raised to be a wife to a politician or doctor, etc.  There was no thought about "what if she wants her own money or career".  I was not allowed to work in high school.  If jobs were mentioned, it was understood that they would be traditional female, office level, and of course, just be something I did until I was married.  After that I'd be minding my husband's career and family stash.  

Yeah - that worked well.  

Yet - once out of college I started figuring it all out.  Had I been taught more about business, I'd not have made the worst mistake of my financial life.  Might also have been a little wiser choosing the men I chose. 

For me the money mindset was a matter of knowing what I wanted to do.  I've also always been an avid reader, too.  

Right now I feel like a squashed bug on a windshield, but finally have some medical help that will put me back together again so I can get up and run with things again.  When wondering about how to get a money mindset -- never forget to include your health.  Keep yourself as fit as possible because it takes a lot of energy to really achieve.  If you're dumpy and out of shape, it's gonna be harder for you.........if you get sick, you're going to be stopped in your tracks.......make it as temporary as possible. 

 

 

 

 

Share this post


Link to post
Share on other sites

I grew up in a financially comfortable family.  Money wasn't often discussed, but my siblings and I all got the message that too avid a pursuit of money messed you up, and if you had enough it was your duty to help others who were less fortunate.  I still regard these as sensible principles.
It's interesting to see that once I calculated a few years ago that I had enough to sustain my lifestyle, my earnings declined so that I wouldn't have "extra".

I do think that we acquire a "financial set point" rather unconsciously while growing up, and it takes a LOT of effort to change or replace it.

Share this post


Link to post
Share on other sites
1 hour ago, marciayudkin said:

I do think that we acquire a "financial set point" rather unconsciously while growing up, and it takes a LOT of effort to change or replace it.

^^^This!

My parents (and my sister) were/are very proud of being middle class.  They've all worked hard their whole lives (very proud of them!), and they're all comfortable in their lifestyles.  Nothing at all wrong with that. 

While my mindset is and always has been, you work hard to get what you want, I have a different map to getting there.  I have no desire to work in a 9-5 all day.  While I do put in more hours a day than that, I still have the freedom to go riding if I choose to do so, or whatever else I want to do.  

It also takes a whole new set of discipline to work for yourself.  I was a great boss when I worked for someone else, but being my own boss .... I HATE MY BOSS.. SHE'S MEAN!  

 

Share this post


Link to post
Share on other sites
2 hours ago, Khemosabi said:

It also takes a whole new set of discipline to work for yourself.  I was a great boss when I worked for someone else, but being my own boss .... I HATE MY BOSS.. SHE'S MEAN!  

She is a mean boss - a real bitch kitty of one :P

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.