Your Money Mindset Matters
Having the right mindset in almost any aspect of life goes a long way toward success. When it comes to your personal finances having the right money mindset is essential to achieving a good result.
One of the first and most important money mindsets is to get money motivated. Here are tips to help you do just that!
How to Get Money Motivated
Draft a Financial Vision Board
You need motivation to start adopting better money habits, and if you craft a vision board, it can help remind you to stay on track with your financial goals.
Set Specific Financial Goals
Use numbers and dates, not just words, to describe what you want to accomplish with your money. How much debt do you want to pay off—and when? How much do you want saved, and by what date?
Adopt a Spending Mantra
Pick out a positive phrase that acts like a mini rule of thumb for how you spend. For example, ask yourself, “Is this [fill in purchase here] better than Bali next year?” or “I only charge items that are $30 or more…”
More Tips To Help You Get The Right Money Mindset
Now that you are on your way to a great money motivation and a bright financial future, here are just a few more tips to help you make it all the way! You really can begin making positive changes in your finances in a very short time and if you stay committed big results lay ahead.
…Make Bite-Size Money Goals
One study showed that the farther away a goal seems, and the less sure we are about when it will happen, the more likely we are to give up. So in addition to focusing on big goals (say, buying a home), aim to also set smaller, short-term goals along the way that will reap quicker results—like saving some money each week in order to take a trip in six months.
Banish Toxic Money Thoughts
Hello, self-fulfilling prophecy! If you psych yourself out before you even get started (“I’ll never pay off debt!”), then you’re setting yourself up to fail. So don’t be a fatalist, and switch to more positive mantras.
Get Your Finances–and Body—in Shape
One study showed that more exercise leads to higher pay because you tend to be more productive after you’ve worked up a sweat. So taking up running may help amp up your financial game. Plus, all the habits and discipline associated with, say, running marathons are also associated with managing your money well.
Learn How to Savor
Savoring means appreciating what you have now, instead of trying to get happy by acquiring more things. – The Muse
How motivated are you to have a healthy and balanced financial life?