Before you can have wealth in your wallet, you need to have wealth in your head.
I’m not into super woo-woo, law of attraction stuff. I’m into get sh*t done, make it happen kind of stuff.
That said, my money philosophy has completely changed over the last five years as I’ve gone from knowing nothing about money to becoming a financial planner and now an entrepreneur.
What I’ve learned about money has helped me go from feeling terrified about having enough money and living in a scarcity mindset where there’s never enough, to having an abundant mindset where there’s always more than enough.
What is it that I’ve learned? Exactly what I started this post with: before you can have wealth in your bank account, you need to have wealth in your mind.
Before you can make and have all the money you want, you have to think and believe that you will actually earn and have that money.
What I’m saying is wealth is a state of mind before it ever becomes a reality for anyone.
This is kind of what [easyazon_link identifier=”1585424331″ locale=”US” tag=”financegirl05-20″]Think And Grow Rich[/easyazon_link] is all about, but there’s more to it.
You can do practical things to really set yourself up for the best money mindset.
As I talked about in the mindset blog post, your thoughts drive your feelings, your feelings drive your actions, and your actions drive your results.
Want to attract more money in your life? It all starts with how you think and feel about money.
Here’s a look at how you can attract money into your life, and also how you can be sure you’re not pushing it away.
1. Get familiar with your money
Notice how you feel when you log into your bank accounts.
- Are you squinting hoping for the best?
- Do you feel good, bad, something in between?
- Do you feel empowered? Dis-empowered? Frustrated? Embarrassed?
- Are you ignoring or avoiding paying close attention to your money?
I don’t just mean notice what you’re thinking. I actually mean notice how you feel when you log into your bank accounts.
For the record, money is just money. And in fact, you are just looking at numbers on an online platform on a screen.
There’s no reason to feel embarrassed or ashamed of your money – even if you don’t have a lot of it.
I think one of the most dis-empowering things is to feel bad about your money because you don’t have a lot of it. When you do this, you perpetuate the cycle of scarcity around money – you continue to think there’s not enough and therefore you avoid your money, overspend, and have so much fear around it.
Money is just money. Whatever amount of money you have is perfect for you right now. You don’t have to have any shame about money.
When you can accept your money as it is, without feeling bad about it, you can start to love money. I don’t mean love what money can buy you. I mean actually just love the money as it sits there in your bank account. I also don’t mean love it from a place of scarcity where you’re hoarding it and afraid of losing it. I just mean flat out feeling energized by it. Proud of it. Happy about it. And loving it.
When you love your money, you’ll love the having of it and it will grow.
Here are tools to help you get familiar with your money…
2. Notice how you think about being rich (and about rich people)
Pay attention to how you think about the idea of being rich, and also how you think about rich people.
- Do you think you’ll be rich? Do you think things like “yea, must be nice she’s rich.”
- Do you think rich people are lucky and you’re not?
- Do you plan on becoming rich? How?
- Do you make “harmless” jokes about people who are rich?
How you think (and feel) about rich people now will determine how much money you have (or don’t have) in the future.
If you separate yourself from rich people in a negative way, you’re telling yourself it’s not possible for you. Whatever you think and believe is what you’ll turn into your reality. If you think you won’t ever have money, if you think you’ll be broke forever, your brain will go to work to make that happen for you.
Regardless of your financial circumstances right now, how you think and what you believe about being rich in the future will determine whether you are rich.
Here are tools to help you with how you think about being rich…
3. Figure out what you fear about money
Fears are real. But they don’t have to continue to be real.
You can fear something today, check the fear, and work through it so it doesn’t affect your future.
I want you to do this for your money.
- What was life like in your family growing up when it came to money?
- What do you fear when it comes to money?
- Do you think you’ll run out of money?
- Are you afraid you’ll never have enough money?
- Did your family act from a place of scarcity, where there was never enough money?
If you have fears about losing money and never having enough money, you are going to act from a place of scarcity. You’ll want to hoard your money just for the sake of protection.
When you build wealth from a place of fear, where you’re afraid you’ll never have enough, you approach the world with fear. It’s no place to live.
You don’t have to be afraid you’ll lose money. You don’t have to be afraid you’ll never have enough.
If reading this sounds crazy to you, do some mindset work and really acknowledge and address your fears so you can work through them.
Your money fears will have a huge impact on your future unless you acknowledge and change them.
4. Change your money mindset
Once you’re aware of your money mindset, you have to change it if it isn’t serving you.
- Do you think there’s not enough money?
- Do you act from a place of scarcity?
- Are you worried about money?
Think about all the possibilities for money. You can choose to believe anything you want about money.
You don’t have to listen to me or to anyone else.
You don’t have to worry about money (I love the Eckart Tolle quote, “Worry pretends to be necessary). It’s true. The emotion of worry is not useful. You can stop worrying if you want to.
Want to make a lot of money? Do it. Like your reason for it. Don’t apologize.
I don’t use credit cards. I quit my job to become an online entrepreneur before all my student loans were repaid in full. I do what I want how I want to with my money. I’m proud of my choices. I always have a reason for doing what I do, and I like my reasons.
When I learned (funny, I needed to learn this at all!), that I could choose to believe whatever I wanted about money, I felt so empowered. I started making the best decisions for me – that no one else could possibly make for me.
When you own your financial life and make change your money mindset to support you, you attract money and it’s super empowering.
Here are resources for your money mindset…
5. Practice wanting money (aka saving money)
You have to want money. Not what money can buy. Not for protection. Just to have.
This is super weird if you’re a spender. Usually, as a spender (speaking from experience), you want money because of what money can buy.
But if you want to save a lot of money from a place of abundance, you have to just love the having of money on its own.
This is hard. Money is just paper we’ve all decided has meaning.
I also want to mention that if you’re a natural saver, check yourself. Are you saving because you love money and feel good about the having of it? Or, are you saving out of fear of not having enough and wanting money to protect you? The underlying emotion between the two is very different. If the underlying emotion for why you’re saving money is negative, you also need to do some mindset work and practice letting go of that fear. You can save a lot of money this way, but it’s not a good place to be in mentally.
With intention, you can practice wanting to have money from a place of abundance. When you do, you’ll hold on to more money.
Here are resources for saving money…
- 4 Ways To Save $3k In Your Savings This Year
- 75 Money Saving Tips
- 10 Habits That Will Help You Save Money
6. Provide value to make more money (not time)
If you want to attract money from a place of earning more money, you have to understand the most valuable money lesson I’ve learned to date.
Value creates money, not time.
You don’t go into the Apple store and ask how much time it took to create the iPhone, how many hours it took for someone to develop. You ask what features it has. You want to know the value of the product.
In the same way, you pay money in exchange for the value of a product, someone pays you money for the value you provide. This applies regardless of your profession.
You’re paid for the value you provide in your job or business, not the actual hours your work (even if you’re paid hourly).
Think about it. You don’t actually hand over your hours to someone. You don’t go to a job and literally sit and exchange hours. You have job duties. You’re paid for producing value to the company.
Whether you’re working at Madewell at the mall, whether you’re practicing as a dentist in a practice, whether you’re a freelance writer working from home – you’re always paid money in exchange for the value you provide.
When you switch from living in the time economy to the value economy (this is what I call it), your entire world shifts.
Instead of picking up more hours, you start to think about how you can provide more value in your job.
When you provide more value, you will attract money. It may not be for this boss and it may not be tomorrow. But if you put more value into the universe, you will have more opportunities and you will attract more money.
Try it. It works.
Here are resources for making money…
- 45 Ways To Make Extra Money
- How We Make Thousands Every Month Freelance Writing
- How To Start A Profitable Blog While Working Full Time
7. Stop rejecting money
Most people are living in “I don’t need that,” and “no thank you,” and “that’s okay.”
When you do this, you’re literally pushing money away.
I see this most often when people don’t feel worthy of having money. They don’t have a lot and they come from a place of scarcity, so they don’t “want to take any handouts”.
When you switch your mindset to one where you over deliver in providing value, you will give so much that when someone gives back to you, you’ll gladly accept.
You not only have to be good at giving, but you also have to be good at receiving.
Notice if you push money away and reject it when it’s offered to you. This is no small thing. Start accepting money.
You’re missing the money available to you by not receiving.
Practice feeling worthy and saying yes to money that’s offered to you.
A Final Note!
I wouldn’t talk about this mindset and feeling stuff if it wasn’t the way the world worked.
I see it in my life and in other people’s lives all the time.
I went from literally knowing nothing about money and having such a scarcity mindset about it (living in “there’s never enough money”) to actually thinking and feeling money to the point where I’m now attracting soo much money into my life.
Yes, I’m doing specific actions to generate that money, but it wouldn’t be possible without the right mindset and feeling work first.
Before wealth exists in your bank it exists in your mind.