What does the word "money" bring to mind? Are the associations positive or negative?
Beliefs about money are complicated. It's a symbol of one's self: respect, love, freedom, control, power, worth, and much more (depending on the person).
Having a healthy relationship with money and using it to create success require you to understand the beliefs and internal scripts driving your behavior. Trying to build strong financial habits without the right mindset is like driving down the highway with your emergency brake on.
As a financial professional, I think about wealth in terms of the opportunities it offers and as a tool for good. But, I've realized that everyone who walks in my office doesn't view money the same way. For some people, money is uncomfortable and something they'd rather not think about. Others tie wealth to their definitions of success and self-worth.
I don't think one mindset is better than the other.
What's important is understanding your own beliefs and identifying how they drive your decisions and your behavior. If you can recognize the negative aspects of your money mindset, you can manage your emotions and fears better—and you can recognize and start to change bad habits.
Identifying and changing negative behaviors associated with your mindset are key to making the best financial decisions.
If you're looking to understand how to shift your money mindset and improve it, I'm here to help. One of the best services I can provide is that of a financial coach and accountability partner.
I'd be happy to chat with you and shed more light on your money mindset. Give my office a call at (609) 818-0068 or shoot me an email at victor@palantewealth.com.