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What is a Positive Mindset?

What is a Positive Mindset?... How You Can Start Changing Yours Today?

So, what is a positive money mindset? Do you know your money mindset can

determine whether you have a profitable, sustainable business–or not? It’s true: While

you obviously need to do basic market research, produce stellar work & deliver a high quality customer experience for your business to do well, you also need to work on your

own internal thoughts and beliefs about money.

Let’s back up. If you’ve been in the entrepreneurial world a minute, you’ve probably

heard the term money mindset. But do you know what a money mindset is and how it

affects you and your business–and lifetime earning potential?

If not, no worries. Here, you’ll find a brief overview of what a money mindset is and how

to cultivate a positive one to create a better financial future for you and your business.

OK, what is a Money Mindset? Money mindset–put simply–refers to your beliefs and

attitudes about the "almighty dollar." It's the internal, mental framework that shapes how we think about money, including how we earn it, spend it, and save it. It influences all our financial decisions and behaviors–from how you price your services to how much

you spend on business-related apps each month.

In short, it can directly impact whether you make money in your business…or not.

If you have a healthy money mindset (sometimes called an abundance mindset), you

innately believe that you deserve–and can–earn good money. You're open to new

opportunities and willing to take risks. You understand that making more money

requires hard work and dedication, but you also aren’t afraid to ask to be paid what

you’re worth. You generally view money in a positive or neutral light, and you see it for

what it is: a tool to help you achieve your big dreams and goals. You’re not afraid to

spend where you need to (especially if it will directly or indirectly lead to more money),

but you also know when to snap your wallet shut instead.

On the flip side, if you have a not-so-great money mindset (sometimes called a scarcity

mindset), money is usually a major source of stress, anxiety, or fear. You might struggle

with managing your finances, from sticking to a budget to letting go of those old money

stories that keep you stuck. It also usually means that you struggle to charge prices that

align with the value you provide. Big One for women!

You, think of money as something that’s hard to make and even harder to hang onto

(yikes!) Our money mindset isn’t something we just come up with on our own, though.

We develop our ideas about money early in life, thanks to family, friends, society and

our unique experiences.

The good news? Our money mindset is not fixed. You can change it over time–with

intention, awareness and, of course, action.

So where do you start?

There are many ways to work at changing your money mindset so it’s more positive.

Here are a few options to get started:

1. Cultivate self-awareness about your beliefs, attitudes and self-talk around money.

You can do this several ways, including carrying around a journal and writing down any

money related thoughts for a day.

2. Surround yourself with positive money influences (my favorite). You know how they

say you’re the combination of the five people you spend the most time with? One way to

naturally start believing more positive things about cash is to surround yourself with

people who already have it and tend to it well. This might include befriending other

entrepreneurs or colleagues rocking it in your field (or outside of it), financial advisors or

mentors or even your favorite rich relative.

3. And of course, be smart, learn about finances (not my favorite to do but necessary).

Knowledge and the application of knowledge is power, especially in this case. Learning

more about basic financial principles can also help you see money in a more positive

light. By simply soaking up new knowledge and practicing healthy financial habits (like

budgeting, saving and investing), you can develop newfound confidence in your

financial decisions.

When you do one (or all) of the above, you’ll not only learn loads about yourself, society

and money management–you’ll also be well on your way to cultivating a positive money

mindset, owning your worth and putting any money stress, sweat or struggle in your

rearview mirror!

Interested in learning more about how you do money, check out my Money Quiz

Author: Barbara J. Hulin, Women Own Your Worth Newsletter

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