We all know that old habits are tough to break, but the first step in doing so is acknowledging you have them. Some habits are good – even great – but others can shut down your optimism and act as an obstruction to whatever you are hoping to accomplish.
Having a stable and positive money mindset will not only turn things around for you, it will motivate your purpose and illuminate your path. Don’t worry, changing your point of view about isn’t as complicated as it sounds; not when you understand how negative outlooks take shape.
What exactly is a Money Mindset?
It is frame of mind that defines your expectations for financial success or failure – your line in the sand, so to speak. Our subconscious develops feelings and thoughts about the things that have impacted our lives; forming a preconception, an attitude if you will.
Just as your beliefs affect the actions you take, your money mindset will filter the way you respond to opportunities as well as barriers. A positive one is a critical element to a happy life and business stability, while a negative one can keep others at a distance cause and destroy your confidence.
Is my Money Mindset negative?
Do you find yourself regretting the financial decisions you make? Is your lack of confidence in your earning power getting in the way? Is your business treading water or are you shackled with anxiety about how to pay the bills? Then it’s time to take a step back and look at the big picture.
If you see yourself in one of these self-sabotaging money mindsets, then take heart – you’ve made the first step (acknowledgement) to reversing the behavior.
1. Emotional vs. Rational Thinking – When emotions come into play, good sense can drift right out the window. Use what you know to be true, and research the facts; because making a financial move based on calculated risk isn’t something you need to stress over.
Pilots have a saying before they take off, “Keep your wits about you!”
2. Procrastination vs. Implementation – There’s one constant in life that you can predict, and that’s “change.” Putting all your want-to-do-someday’s up on a shelf you built all by yourself isn’t something to be proud of. Sure, refusal to act in the moment is a method of control – but getting things done will give you far more power, and validation.
Ask yourself what the best use of your time is and don’t hesitate to do it!
3. Fear vs. Confidence – When your desperation is showing, others can see it a mile away; it’s one of the quickest ways to lose traction on the financial position you’re seeking. Join networking groups of people with similar interests or in your same industry. Theodore Roosevelt said, ‘When you’re at the end of your rope, tie a knot and hold on.” Share your story with others, and learn from theirs. Work with a mentor, to build your knowledge and boost your power.
Change your response to doubt and fear from isolation to outreach – get support!
4. Indecision vs. Conviction – Does negative self-talk have you waffling between what you should do and what you want to do? If your intentions are not clear, then your goal will be elusive. How can you possibly focus on an obscure purpose? When you have honest and grounded belief in what you’re doing, it will empower you, as well as others.
Knowing what you stand for will give more weight to your decisions!
To learn how a positive money mindset is one of your best strategies for real estate investing success, please listen to my audio from BlogTalkRadio: