3 Money Mindset Tips for Mental Health

Use these money mindset tips to improve your relationship with your finances

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Money is an issue for many people across the world. The success of Squid Game on Netflix has to be in some part due to its narrative about how far people will go for money and survival. Money dictates how well we’re able to provide for ourselves and others around us and in some part dictates the quality of life that we’re able to live. Yes, you can be happy without making $100,000’s per year, but a certain quality of life can’t be maintained without sound financial practices. 

It’s less about how much you make, although a larger income helps, and more about how you use the money that you have, which dictates your level of safety, security, and satisfaction in life. For many people, money is often a sore spot. A place that causes anxiety and unhappiness to even think about. Money comes and money goes… but there’s no plan for success because the story being told is that “success” is unattainable. 

Let’s look at 3 money mindset tips for mental health and how they can be used to create a better life for yourself over the next 6 months:

  1. Money Doesn’t Have a Voice Beside The One You Give It
  2. A Plan Is Necessary For Success
  3. Start With Small Goals

These three money mindset tips will help you create a better life for yourself and those around you by helping reshape your mindset and relationship with money itself.

1. Money Doesn’t Have a Voice Beside The One You Give It

For many people, emotions and money are intertwined. When we have money stresses, it gives us serious mental and emotional stress. When you don’t have a lot of money in your bank account, it can cause your mental health to spiral out of control. Stories run out of control in our mind about what the number in our bank account means about us as a person. 

Something I often see is that people will redefine themselves in horrible ways just because they feel like they can’t make enough money to provide for themselves, their wants or their lifestyle. People do need to accept that their choices lead to the outcomes they’re living, but becoming overly critical of ourselves because of the decisions we make surrounding money can be one of the worst things we can do, especially for our mental health and ability to make better financial decisions. 

One of the best things you can do is to separate yourself from the nasty voices in your head. To look at the numbers objectively and realize that you can’t shame yourself out of a bad financial situation. You must realize that money can’t talk, it’s an inanimate object, and that you are the one that’s tying all of these terrible stories to the voices in your head when you look at money and your financial situation. Once you do this, you can create space between your emotions and the reality you’re living. 

The next step is to make a plan…

2. A Plan Is Necessary For Success

Once you’re able to separate yourself from the stories you tell yourself about money, the next step is to make a plan for success. If you look at things objectively, you’re able to see that not only are most of your stories about lack of money are based around emotions, so are the decisions you make with your money. 

Oftentimes people fly by the seat of their pants with their money decisions. They make decisions based on shorter timelines than they should. Whether in business or in personal life, they’re making decisions that don’t include their true end goal in mind. 

What needs to happen is an examination of the vision that you have for your business or your life… 

Answer questions like:

What kind of life do you want to live?

What do you want from your career or your business?

How do you want to be known when you die? 

Create a plan and a budget that you’re going to stick to in order to see the success that you’re looking for. Stop making decisions that are based on short-term emotions and knee-jerk decisions. Start looking at the long-term vision for your life, business and relationships. What do you need to do to achieve those visions? What decisions do you need to make to get there?

That’s where the next step comes in…

3. Start With Small Goals

When you start thinking about your vision and what you want out of life, it’s easy to see big scary goals that seem like they’ll be permanently out of reach. You’re not going to purchase a house before you pay down other debt… You’re not going to have a million dollars in your bank account before you have $10k or $100k. It’s just not going to happen overnight. 

You have to start with small goals and build up from there. If you have debt, you need to work on paying that off. Especially if it’s high-interest debt. Focus on creating a plan to pay off your debts. This will help your credit score and your self-esteem… Next look at raising your credit score with the right types of credit. Educate yourself on how to improve your credit score and create a plan to improve it. 

Start off with small goals that will allow you to achieve the bigger ones. Look at what needs to happen along the way in order to achieve your large goals. Make a list of small goals that need to be accomplished in order to achieve your large ones. Start checking off those small goals and see what it does to your momentum, emotions, and self-worth… You’ll see how the stories that you told yourself about money when it was a plague in your life can also be super positive when you understand how to use it as a tool to achieve what you want in life. 

It’s important to realize that you’re not stuck where you’re at and that you’re only a few good decisions away from a different life. Try implementing these 3 money mindset tips in order to change your life and achieve what you’ve always wanted. It doesn’t have to be emotionally difficult, remove the shameful stories and start finding the freedom you’ve always craved. 

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