Top 2 Ways Your Money Mindset Is Stopping Your Dreams (2024)

I used to have issues with my money mindset. I worked with my parents in their trucking business, and made only $24,000 a year. During that time, my mind often held me back from taking control of my life. I felt empty and craved a life that was not my own, so I regularly took trips with my girlfriends to various places just to bring some thrill to the days.

But, then my life changed. Instead of craving a different life, I became aware of the fact that I would never ever get it, unless I began to make some changes. You see, my mom has always been an investor of sorts.

She has bought and held several properties for investing, but she always did it with cash in hand. There were many times I remember when she received her “mailbox money,” as her renters would send in their monthly rent.

“I want mailbox money, too!” I thought.

And, it was then that I began to make different choices about my future. And it changed my life in more ways than I can count.

The last few years have been quite an experience. Not only do I now own several properties with renters, but I also teach other women how to do what I’ve done. It’s the dream, but it didn’t start out this way.

While I had the desire to change my life, I had no idea what I was doing. And, there were two constant struggles I had to learn to navigate along the way.

I have learned, while teaching and training my ladies, that we are very much the same. The struggles I have had to navigate are the same ones they do, too. In fact, these struggles are pretty much the same for all of us, for anything we want to do.

But, we’re talking about our money mindset, and unblocking ourselves from moving forward in our dreams. Here are the top 2 ways your mind is stopping your dreams.

FEAR

Whenever we want to make some big change, the dark little weight of fear will usually come to greet us. It might be fear of failure, fear of success, fear of the unknown, all of the above, or another fear. Fear has a way of stopping us right in our tracks. It puts the brakes on before we even turn on the engine.

But, here’s the thing about fear: it is destroyed best through taking action. This is why courage is what it is. Without fear, you cannot have courage, because then you’re just confident.

But, courage, on the other hand, must go along with fear.

Yes, you might feel like you have no idea what you are doing. And, yes, this might be scary. Do it anyway. Get up and get moving and take that massive action that is needed. Even tiny baby steps of forward movement count. Forward movement, even in small amounts, is better than no movement at all.

When it comes to making money, and lots of it, you are going to have to do some things that will be new and uncomfortable for you. While fear might feel yuck and gross, it is actually something to embrace and accept. It is part of the process towards success.

Don’t wait until you are fearless to take action. Become fearless by taking action in the face of fear!

PERFECTIONISM

The second way that your money mindset stops your dreams is when perfectionism is in charge. Perfectionism is what leads many of us to get stopped by analysis paralysis. We become students of study, rather than action.

It is the thought that you have to do it right and not make mistakes (which is just another way of extending fear to the fear of making mistakes). It blocks a healthy money mindset because it rejects one of the most critical elements of success that exists: failure through mistakes.

Thomas Edison did not invent the lightbulb on his first try. On and on it goes that we see the necessity of failure in order to achieve success. Failing forward is the goal, not living without mistakes and failures.

Let me tell you something: you learn more through your failures than you ever will with success.

It might suck for a while, but in the end it will be a great teacher, if you let it be.

You gotta get rid of perfectionism and accept that you ain’t going to do this perfectly, and that’s okay. It is likely that you’re going to stumble and trip through the whole thing, but that’s perfectly fine! Just make the decision to not give up in that process.

Keep taking steps forward. Decide now to learn from every failure and mistake that you make along the way.

Get a Money Mindset Makeover

I am so thrilled to say that just this month I am releasing my first ever Mindset course. I love to help other women just like me to learn to become savvy real estate investors. But, I also want to make sure that the pesky mental games we play get addressed, too.

Time and time again, I hear my ladies struggling with these same things. So, I decided it was time to put everything together into one place. And, now it’s available for you.

The brand new Money Mindset course will take you through one step at a time the ins and outs of your mental journey to unblock your mind so your dreams can be achieved. You’ll be connected with a community of other like-minded ladies who are serious about addressing their inner world so they can dominate in the outer one. If you’re ready to find out more, check it out here.

Manage Your Money Mindset and Achieve Your Dreams

Fear and perfectionism are loud and annoying struggles we all have. You are able to face them and shut them down. Make the decision right now that you aren’t going to let them get in the way of your dreams. Instead, decide that you are going to take action, even in small steps, and embrace your failures and mistakes as they come. And, girl, I can’t WAIT to hear all about what you accomplish! You got this.

What is your biggest block from achieving your dreams? Comment below to share.

Top 2 Ways Your Money Mindset Is Stopping Your Dreams (2024)

FAQs

What is a bad money mindset? ›

The lack of money or the presence of too much debt can cause a person to develop a negative and destructive thought process when it comes to finances. Once this way of thinking is instilled in a person's mind, it can affect their finances in ways the person might not even be aware of.

How do you overcome money mindset? ›

How to shift your mindset about money
  1. Remind yourself that you're in control. ...
  2. Be willing to do the work. ...
  3. Acknowledge incremental progress. ...
  4. Commit to being successful. ...
  5. Express gratitude. ...
  6. Cut off negative self-talk before it spirals. ...
  7. Keep moving forward. ...
  8. Adopt an abundance mindset.

What is your money mindset? ›

What is a “money mindset”? Your money mindset defines how you think about money and influences how you save, how you spend, and how you manage your debt. It's your core beliefs about money and your attitude towards it.

What is a fixed mindset about money? ›

Fixed money mindset: “There's never enough money to go around, so there's no point in me trying to save or earn more money.” Growth money mindset: “Other people might have more money than I do, but I can learn how to manage the money I do have and make it work for me.”

What is poor mindset vs rich mindset? ›

Poor mindset immediately sees a surplus as an opportunity for consumption. Rich mindset seeks to spend their time, resources, and energy on work that continues to pay off long after the effort has been invested. Rich mindset is all about getting a flywheel spinning. Building momentum.

How is money a bad master? ›

Money can be used to fix many problems for many people. In this capacity money serves our needs. But money also possesses a lure that captures the imagination, imprisons the soul, and corrupts our very nature. In this capacity money takes one over and becomes the very bad master we serve.

How to get a millionaire mindset? ›

How To Develop a Millionaire Mindset and Get Rich
  1. Cultivate a Growth Mindset. ...
  2. Set Clear Goals. ...
  3. Invest in Education. ...
  4. Embrace Calculated Risks. ...
  5. Develop Multiple Income Streams. ...
  6. Live Below Your Means. ...
  7. Network With Like-minded Individuals. ...
  8. Stay Positive and Persistent.
Oct 6, 2023

What is a positive money mindset? ›

People who have a healthy money mindset believe things like: I have the freedom to spend, but I can also tell myself no to a purchase. I enjoy helping others who are struggling by giving generously. I don't have to compare myself to others. It's possible to achieve my financial goals.

What is the opposite of a broke mindset? ›

First, let's discuss what an abundance mindset looks like. As you may have guessed, an abundance mindset is very much the opposite of a scarcity mindset. An abundance mindset keeps in mind every possible favorable outcome for your financial situation while allowing you to be open to each one.

What are the traits of a money minded person? ›

7 traits of people who are good with money
  • They don't deny that money is important. ...
  • Their expenses don't grow with their income. ...
  • They use their money to create more personal time. ...
  • They don't make emotional purchases. ...
  • They create and stick to budgets. ...
  • They automate their savings.

What is a millionaire mindset about? ›

The millionaire mindset is a framework or a mental model. It's a way to think, which guides every decision you make. The term “millionaire” in this context just means you are a free individual that does whatever they want. You get to choose the work you do and it doesn't feel like work.

Is money minded good? ›

There's nothing wrong with being money minded as long you don't forget your morals and ethics. But sadly when money dominates your mind you can't think of being fair and honest always.

How is money mindset created? ›

Our money mindset is shaped by a complex interplay of factors, including upbringing, cultural influences, past experiences, and personal beliefs. These factors combine to create a set of attitudes and beliefs about money that guide our financial decisions. Your money mindset is usually established early in life.

Why does money mindset matter? ›

Developing a good money mindset can help you build stronger personal finance habits, create more financial stability, and can leave you feeling better equipped to handle economic challenges that may come up in the future.

Why is money mindset important? ›

A money mindset is an overriding attitude that you have about your finances. It drives how you make key financial decisions every day. And it can have a big impact on your ability to achieve your goals. If you change your mindset about money, you tend to make better choices about how to overcome challenges.

What causes people to be bad with money? ›

If you're feeling low or depressed, you may lack motivation to manage your finances. It might not feel worth trying. Spending may give you a brief high, so you might overspend to feel better. You might make impulsive financial decisions when you're experiencing mania or hypomania.

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