I have to say this before we go any further. Ok… Here goes nothing. Before you can get your money straight you must adjust your money mindset. BOOM. Drops mic..exits stage left. Profound right?
Uh, Nicole…really?? I thought we were going to talk about budgeting?? That’s what I came here for. Patience, my friend! All in due time. The first thing that you should know is that…
Personal finance isn’t difficult
Most of the principles are easy to understand and implement. I can almost hear what you’re thinking. If that’s true, why can’t we get it together financially? Sometimes it is faulty thinking. Ever wonder why so many multi-million dollar jackpot winners end up broke again in a few years?
Or how a star athlete with a huge signing bonus and contract can’t make ends meet shortly after retiring or getting injured? Even with millions of dollars, it is often difficult to escape that broke mindset, also known as poverty mentality.
I want each of us to get out of debt, STAY out of debt, and build wealth for the future. Period. In order to do so a change in mindset is needed.

Attitude influences behavior
Have you ever really sat down and thought about your money mindset and why you relate to money the way that you do? Are you anxious whenever you have to spend money? Or is it the opposite….
Do you get a rush when you spend? Do you place a high value on material possessions? Are you too comfortable with debt and applying for credit?
Did you grow up not having much and now feel like you have to make up for lost times? Do you make a good salary but never feel like you can get ahead? Our money attitudes and behaviors often stem from our childhood and upbringing.
I’m not suggesting that we point the finger at our parents and blame them for our financial mistakes. Instead, I am recommending that we try to understand how our money habits originated so we can create healthier habits, and avoid repeating the same money mistakes in the future.
Don’t you want to break the cycle of debt and set your children up for a better future? The financial apple will not fall far from the tree. So it’s time to change the financial family tree!
3 Common Toxic Money Mindsets
Money Mindset #1: “I’ll get my money straight once I have more money”.
WRONG. If you can’t manage your money now, you will not be able to manage it later. The truth of the matter is that when you earn more, you spend more. It’s called lifestyle creep. What happened to that big raise you got last year? Did you decide you needed a new wardrobe or a better car to reflect your new earning level? If you have bad money attitudes, a windfall, such as a lottery win or inheritance, will solve nothing.
If you’re afflicted by this toxic money mindset, make a commitment to being a good steward over what you currently earn. Do the absolute best that you can with what you have now and as you earn more you’ll be better equipped to handle the increase.
Money Mindset #2: “I work hard. I DESERVE it”.
Whatever IT may be. IT is usually something material, some possession. This is the one that got me into trouble so many times. For me, IT was expensive spa days or spending $400 on shoes I didn’t need.
If you suffer from an ‘I deserve it’ mentality adopt the mantra-“I deserve to be debt-free, I deserve to have financial peace”.
Money Mindset #3: You only live once (YOLO), so enjoy it.
I firmly believe that we should get the most out of our time on earth, but that doesn’t give us an excuse to overspend and buy whatever we want. It is true you can’t take your money with you. I personally wouldn’t want to because I want to leave an inheritance to my children when my time is up. It’s totally selfish to blow everything and leave nothing for them but a stack of bills.
Live ‘in’ the day, instead of ‘for’ the day. Living in the day means enjoying the present and not making yourself miserable as you seek to achieve your financial goals. Living in the day is all about enjoying the view on the way to financial freedom.
What financial lessons did you learn growing up?
As a child, was money a source of conflict in your home? What money attitudes are holding you back? If you have children, what lessons are you teaching your child based upon your current actions with money?