You’ve read all the books and listened to the podcasts on financial freedom, so why haven’t your finances improved? The answer is simple—it’s your mindset. We caught up America’s Money Maven, Patrice Washington to break down why your mindset plays a key role in living an abundant life and how you can transform your thinking to live the life you desire.
Why Your Mindset Is Key To Having An Abundant Life
Your mindset is the number one thing. A lot people think their issue with money has to do with all these external things—“I don’t know how to budget. I don’t know much about credit. I don’t know how to invest.” They make it so much about the skill set and the things that are outside of them. If you take that approach, you’ll never have true control over your finances and you’ll never feel empowered to get to whatever financial success you’ve defined for yourself. Building wealth has nothing to do with building money. It has everything to do with our mindset. That’s important because you can know what to do all day long—you can know how to budget, you can know how to invest—but your mindset is what dictates your behavior, your actions and your habits. You can’t change anything in your finances until you make up your mind.
Three Keys Habits For Abundance
Gratitude. Your words are so powerful. Your words shape your mindset. Anything you say, your mind is going to try to prove it right. Your mind is going to look for ways to justify. When people say it rains, its pours—if that’s what you verbalize, that is what’s going to magnetize. That’s what you’re going to bring more to yourself. What I’ve learned is that the people I’ve interviewed, there’s an underlying spirit of gratitude. Everybody has a story, a valley they went through or a defining moment they [experienced] and one of the things I believe is a common thread between them all is that they chose gratitude over whining and complaining. They chose to find the good in any situation.
Know Your Numbers. This is about being very clear about what comes in and what goes out. A lot of times people are just too vague. Whatever you nurture, grows. What you have with money is a relationship, and any relationship you have in your life will grow if you nurture it. If you take time, if you look at it. If you open the mail, if you talk with your creditors. If you’re more proactive that relationship has to get better. It’s law. How could it not? Think about those relationships where you are ignored. The relationship eventually fizzles away. In the same respect if you don’t check your mail, if you are not checking your statements, why do you need more money? You’re not even managing what you have. It’s not a thing where, “If I get some money, I’m going to do [better]. Absolutely not. You are who you are. Who you are with $100 is who you are with $100,000.
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