Money Mindset

It is fascinating to observe how differently people engage with the topic of money. As with most things, it is a learned behaviour, usually from parents, extended family, family friends and primary school.

As with other habits and patterns of thinking, a person, with a little curiosity, an open mind and a growth mindset, can change their views and relationship with money to improve all things money related in their life.

They will, of course, have to do their own pushups on this one. Though there are loads of useful resources to help with a money mindset transformation. T Harv Eker and Jen Sincero have good and enjoyable books on the topic to get people started.

My challenge to you today is to think about your money mantras for a few minutes. Figure out your earliest memory of those mantras, as well as who said them or reinforced them, and then consider how they might just be impacting your life. Hint: It may not be in a good way.

Here are a few common phrases to get you started:

1. Money is bad (it is not good or bad, it’s just a thing),
2. Money is the root of all evil (Is it? Or is it just a medium of exchange? Is your paycheck evil? Besides, the phrase is often misquoted from 1Timothy 6:10 For the love of money is the root of all kinds of evil. – Here it seems to be referring to greed or avarice – one of the seven deadly sins – whereby greed is an intense and selfish desire.
3. We can’t afford it (Try asking, ‘How could we afford it, or something similar?’ – It’s much more empowering)
4. Rich people are jerks (or crooks). (Now some may be, and some won’t be. There’s no point being richist. Is your commentary based on a sample size of one? Are you just parroting what the journalist/paper wants you to think?