Wednesday 24 July 2013

4 Ways to Change Your Money Mindset


By Julie R. Feuerborn
Have you ever heard the saying "If you always do what you've always done, you'll always get what you've always got."?
So when we are feeling stuck in a rut when it comes to our finances, how do we not get what we have always got? It requires a shift in mindset to make the changes that are needed.
There are ALWAYS new ways to look at things so it means making a change in our perspective and have a willingness to be creative.
Here are 4 Ways to Change Your Money Mindset:

1. Relationship with Money
Take the time to reflect on your relationship with money. How do you feel when you spend? How do you feel when you save? Are there money memories and triggers that make you act that way that you do? Become aware of the role that emotions play in your money life. Track these emotions to see if there are patterns.
2. Spend Consciously
Are you aware of where your money goes? Take the time to look at your spending habits. Are you consciously spending your money or does it just slide through your fingers until there is nothing left? Track your expenses, even for just a week. This will make you think more about where you spend money. You may be surprised to see where it really goes.
3. Share Your Plans 
When we bring our thoughts and plans out into the open, they are much more likely to happen. Share your plans and dreams with someone. Not only will you create a support system, you will also increase your chances of success. You will be less likely to always do what you've always done if someone knows that you want to make a change.
4. Money Games 
Make a game of saving money. I have a friend who never spends £2 coins because they are saved for holiday money. This is a game she plays with herself to make savings easier. Label jars, set deadlines, dream crazy dreams! Make it fun! Before you spend money, chant three times to yourself whatever it is that you are dreaming about (house, house, house) and your savings will be personal and more real.
There you have it! When we consider these four mind shifting steps, we begin to look at money differently. Change your money mindset and the possibilities are endless and great things will happen.

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