Money, finances, investments… it’s clear why financial success might seem like a numbers game. Yet, true financial success demands more than just crunching numbers. It craves passion, drive, perseverance, and a positive outlook. That’s why mindset is a key ingredient for financial success.
Discover six steps to boost your mindset and cultivate a healthier money relationship for a brighter life today:
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Discover Your Core Values.
When did you last ponder what truly matters to you?
Your core life values play a crucial role in managing your personal finances. If your spending doesn’t reflect your values, you might sense discontent or a feeling of something amiss.
Let your values guide your decisions like a lighthouse, ensuring your financial choices and life are in line with what matters most to you.
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Envision Your Future
Once you’ve pinned down your core values, the next step is to crystalize your big picture – also known as your vision.
The keyword here is ‘your’.
It’s a breeze to fall into the trap of comparing yourself to others, but chances are the Joneses don’t share your values, priorities, or vision… so trying to keep up with them will likely not only burn a hole in your pocket but also lead you somewhere you never really aspired to be in the first place.
Keep your values, priorities, and vision in mind, stick to your own path, and relish the journey towards realising your personal aspirations, at your own pace.
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Check out your Belief Systems
You’ve probably come across these phrases before: ‘Money doesn’t grow on trees’, ‘Money is the root of all evil’, ‘Money can’t buy happiness’. These common sayings reflect beliefs about money. Our belief system shapes our views on right and wrong, true and false. Often rooted in childhood experiences, these beliefs influence our lives. Lacking positive money role models, many struggle with their financial mindset. If you feel restricted by money beliefs, it could be time to rewrite your money narrative.
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Strike the right balance for a healthier you.
From what we’ve learned in diet culture, following an overly strict diet or exercise routine is not good for you and is usually hard to stick to.
Balance is crucial for a healthy lifestyle, just like it is for your finances.
If your budget is unrealistic, it will only lead to disappointment. Therefore, be truthful when planning your budget and find a good balance between enjoying the present and saving for the future you.
This could mean taking a step back and making sure your goals are practical and reachable.
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Get Moving
Nothing occurs without taking action. Both successful and unsuccessful individuals frequently have similar objectives. The pivotal point lies in establishing a continuous system of small enhancements to yield different outcomes.
While goals serve as valuable compass points, it’s the systems you put in place that propel you towards those directions. To achieve superior outcomes, direct your attention towards your systems (or habits). Habits serve as the building blocks of our lives, with each one acting as a foundational element contributing to your overall advancement.
Your current level of success holds little significance. What truly counts is whether your habits are steering you towards the path of triumph.
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Express Gratitude
Practicing gratitude isn’t just another new age concept. Positive psychology and the effects of gratitude have been scientifically researched, with most studies finding a link between gratitude and improved well-being.
According to research by Robert Emmons, author of ‘Thanks! How Practicing Gratitude Can Make You Happier’, regular grateful thinking can increase happiness by as much as 25 percent.
Next time you’re feeling down about your financial situation, take a moment to acknowledge the positives in your life to shift your thinking!
The key to financial success is more than just about numbers, just as achieving your financial goals requires – more than a well thought out financial plan.
You can take steps to align your plan with your values to improve your beliefs around money, and take action to live a grateful and balanced life, and you’ll be well on your way to achieving greater financial success.
What action will you take to get started on improving your financial mindset and creating a more successful relationship with your money today?
The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional. We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.
