Money Mindset

05/31/2016

 
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Chances are you have a money mindset and don’t even know it.  The money mindset is the way you view money.  Either you come from a place of abundance or a place of not enough.  Think about it for a moment.  How do you view money? Do you view money as a tool to accomplish the things you would like to do or do you see money as an obstacle that prevents you from doing the things you want to do?


Regardless of how you view money, it’s all about perspective, and that perspective can change over time.  Every experience you have, every decision that you have made about your finances has developed that money mindset.  Some lessons you learned long ago, in adolescence.  Think back to being a kid and being faced with the prospect of needing new shoes.  Lots of children may want a $100+ shoe.  Now your parent may be able to buy you the shoe with no problem.  For the sake of argument, your parent counters the single hundred dollar shoe purchase by showing you that you are able to get two to three of another shoe.


Now you are faced with the dilemma of being practical or just going for the top thing you desire.  In this situation, neither is the wrong choice.  However as you become an adult deciding between competing offers becomes a slippery slope.  There are people who will have higher salaries than their peers but still manage to have less money than the people that make less than them.  How is that possible?  It’s because of the money mindset.


Some people as they have increased wages, also tend to have increased expenses.  So even though you make more, you simply find more ways to give it away.  Things like saving, investing, and budgeting should be important to everyone.  Especially if you want to have a good money mindset.  Once again money is a tool to do the things you desire.  So if you mismanage your money it means you are bad with your tool.  Also, if you have an abundance of money, but are afraid to use it for the things you need you are still bad with your tool.