HOW TO DEVELOP A RESILIENT MONEY MINDSET
BY : CHRISTINA MORRIS
Are you one of those people who dislike talking about money ? The fact is that money is the cause and solution to many of the problems that we face daily . In this article , I will explore what we all need to do to get our money mindset right and how to keep it that way when things get tough .
For this article , I will define a money mindset as , the beliefs you have about money and your attitude towards earning , spending , saving and investing money . I am no financial advisor , and my knowledge of money comes from the school of hard knocks . I always encourage anyone who wants to learn more about money to become a student and seek the advice of professionals . But what I know for sure is that no financial professional can give you a resilient money mindset ; that is work that you will have to do on your own . I hope that this article is at least the start . Keep reading ...
Become clear about exactly what you want
The hardest thing for people to define and explain is what they want . Don ’ t believe me ? Ask yourself this question . What do I want out of life ? Go ahead , do it . Then write down exactly what you want , be specific . You may even divide it into categories . What do I want out of my family life , business , career , friendships , etc .? I have asked myself this question , and it is not as easy to answer as I first thought .
What I have come to realise is that what we want changes , which is ok , but what is not ok is never having defined what you want in the first place . Not knowing exactly what you want your life to be like could be why you do not have control over your money or your money mindset . You know the old saying that if you do not know where you are going , any road will lead you there . The same is true about your life and your money .
What you do with your money says a lot about who you are
This is a tough statement to make but take a moment to examine it . What you spend your money on and how you spend your cash , tells the world what you value . If I have no interest in jewellery , I would not be found browsing jewellery stores frequently , nor would I have a fully stocked jewellery box . If you want to know what you value , look around your home . What do you have an oversupply of ?
If you are unhappy about the way you are spending money , don ’ t adjust your budget ; adjust your mindset . Start looking at the things you value . Are they the right things ? Are they your
52 Term 3 Apr - Jun 2022 After the Bell