How To Shift Your Money Mindset?

Have you ever heard the term money mindset? Is it a term that only applies to people who are well off? How does it benefit you and what does it have to do with personal finance? In this post, you’ll learn all about having a money mindset. Also, you’ll learn how to shift your money mindset.

What Does It Mean To Have A Money Mindset?

A money mindset is your unique set of beliefs as well as your attitude about money or personal finance.

When you have a positive money mindset, it can have a powerful effect on how you behave toward money. However, a negative mindset can be equally powerful.

How Is It Created?


Money mindset is created and influenced by past experiences you may have had about money or finance.

It’s possible that your parents or grandparents taught you about money. Also, it’s possible that when you grew up money was a taboo topic. Other factors affect money mindset.

Other Factors Include:

  • Culture And Personal Beliefs: A huge factor that plays a role in money mindset is culture as well as personal beliefs. Attitudes toward money varies widely between different groups or even classes of people. Some people may be cynical about money or finance, others see it as the root of all evil, while there are others that see it as something positive.

  • Mental Health: A factor that’s often overlooked in money mindset is your mental health. It affects how you manage and deal with money and finance. Many people suffer from depression, anxiety as well as diagnosed mental disorders such as bipolar disorder. For example, someone who suffers from bipolar disorder can have problems with binge spending.

  • Limiting Beliefs: A popular limiting belief about money mindset is that it’s only for the wealthy or for entrepreneurs. Also, many people may think money is bad, they’re not good enough to make money or they may feel stuck because they work for a living.

  • The Media: Money mindset can be affected by the media, especially social media. Many people say they’ve made impulsive purchases because of content they saw on Facebook. Also, they share their latest purchases with their friends. Social media creates something called FOMO or the fear of missing out, this happens when you have a sense of urgency to buy something because you friends on social media are buying it too.

Here’s a related post if you’re interested: “How To Overcome Limiting Beliefs?”

What Are The Effects Of A Negative Money Mindset?

Negative beliefs as well as negative emotions influence your money mindset.

When you’re anxious or jealous toward someone that is doing better than you, it affects how you see yourself and how you see money and finance.

It’s possible that you have a scarcity mindset when it comes to money. It happens when you’re obsessed by the lack of something. As a result, you mainly focus on short term needs and put off planning for the future. Also, you may become very stressed and anxious toward money and finance in general.


Having limiting beliefs about yourself can manifest itself in how you manage money. It’s possible that you’re making bad short term decisions such as buying something you can’t afford or making bad investments to keep up with others.

The stress and anxiety that comes with having a negative money mindset can adversely affect your decision making about money and finance. As a result, you may end up not only with have poorer mental health but also poorer financial health.

How To Shift Your Money Mindset?

Here’s some good news!! It’s not too late to shift your money mindset.

Tips For Shifting Your Money Mindset:

1. Take A Look At Your Cultural And Personal Beliefs:


Look at your cultural and personal beliefs that shaped your money mindset. By doing this, you become aware of these beliefs shaped your behaviors.

For example, you may become anxious and fearful toward having a side hustle, along with working for someone else. There may have been a belief you’ve held that you’d fail at it or it’s only greedy rich people who had side hustles. Also, you may have had a belief that money was the root of all evil and you felt guilty for wanting to make more of it.

2. Take Care Of Your Mental Health:


In a previous post, “The Link Between Bipolar Disorder And Money Problems”, it explored the link between a mental disorder such as bipolar disorder and money problems.

Bipolar disorder is marked by severe mood swings of extreme highs and lows. When it’s untreated, bipolar disorder causes sudden urges to spend money and it also leads to a lack of motivation. Also, finding and keeping a job is hard as well.

Poor mental health in general adversely affects your money mindset and vice versa. When you’re being treated for a mental disorder and you learn how to cope your symptoms better, you’ll find that your mind becomes clearer.

Mental health problems can cause a lapse in judgment when making decisions. When your mental health improves, your ability to make informed decisions improves.

3. Challenge Your Limiting Beliefs:

The beliefs that affect your mindset are not fixed, they can be challenged and replaced.

A common belief about money mindset is that it’s only for the wealthy or entrepreneurs and that it’s not for you because you work for a living.

Another good example is having a belief that you’ll never get past a bad situation no matter how hard you try. As a result, you feel powerless and lose interest in taking responsibility for your finances.

Reframe the negative belief that you’ll never get past the situation that makes you powerless. Start by believing that you have the power to change your situation one step at a time.

4. Shift Your Attitude:

The most important aspect of shifting your money mindset is shifting your attitude.

When you take a look at your personal beliefs, it helps to let them go and start forming new ones that are more positive. It helps to stop comparing yourself to others and forgive yourself for past financial mistakes.

A positive attitude helps to shape your money mindset by giving you an abundance as well as an optimistic mindset. People with a positive money mindset generally spend less than what they earn as well as manage their credit. Also, they save for the future, give to others and are mentally prepared for unexpected expenses.

Have You Ever Shifted Your Money Mindset?

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If you suffer from bipolar disorder and you’d like to learn how to live a happy and productive life, click here!



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