Money is Mental
What’s your relationship with money? Think about it for a minute. Is your money mindset one of “there’s never enough” or “there’s plenty”? What if I told you you’ll never be wealthy because your negative attitude surrounding money will play a role in keeping you poor? Would you think I’m some bullshit guru? Because becoming a bullshit guru is my backup plan.
Studies have shown a negative attitude toward money can cost you big time. People who see money as “evil” or if they “don’t care about it” will inevitably make financial decisions which will adversely affect them. It’s the poor mindset versus that of abundance. The book Rich Dad, Poor Dad by Robert Kiyosaki discusses this extensively. If you want to see how your views of money might be keeping you broke, it’s definitely worth the read.
Another example of a poor money attitude is the common phrase “I’m not good with money.” A lack of money skills is not the same as “I was born with webbed toes.” The former is an excuse and the latter is an unfortunate, but slightly comical, trait. Not possessing money skills is remedied through education and discipline. Webbed toes are remedied by scissors. That visual sent shivers down your spine didn’t it? What I’m trying to say is this, webbed toes are a frog-like characteristic you are born with and money beliefs are cultivated and groomed by our experiences and education. It’s nature vs. nurture.
It’s important to evaluate our personal beliefs and relationship with money in order to see how it may be impacting our bank accounts. Therefore, because I care about you so much, I made this quiz. It’s not as fun as the Buzzfeed test I recently took that told me which celebrity is my soulmate based on my favorite animal, but it is as equally important.
Ask yourself what you truly believe about money:
Do you believe money is the root of all evil?
Do you believe money will always leave you instead of come to you?
Do you believe money is the most important thing in life?
Do you believe the rich get richer and the poor get poorer and there’s nothing you can do about it?
Do you believe you have to be as frugal as possible in order to hang on to and build wealth?
Do you believe you’re good with money?
Do you believe money is a limited resource?
Do you believe the harder you work the more money you’ll have?
Do you believe investing is only for the wealthy?
Do you believe because your family was poor, that you are destined to be poor as well?
Now for the follow up questions:
Why do you believe what you believe?
Do your money beliefs come from specific experiences in your formative years?
Were your parents good/bad with money?
When you read about money and personal finance, what are your sources?
Do you feel confident in your ability to pass a financial literacy test?
Did anyone ever teach you the basics of personal finance?
Do you believe your relationship with money can evolve?
Do you believe people who accumulate wealth are inherently bad? If so, why do you believe this?
Do you feel confident in your own ability to accumulate and keep wealth? Why or why not?
What are your strengths and weaknesses when it comes to handling your personal finances?
How did that feel? Did you have any Oprah-esque “Aha!” moments? Your views about money and it’s utility in the world can evolve. In fact, it should evolve. Yes, there are bad guys on Wall Street and greedy jerks who don’t give a shit about your financial situation. Forget them. This isn’t about them. Your financial situation can get better, and much of it has to do with your knowledge of how money multiplies mixed with a positive outlook. I know you’re rolling your eyes and think I’m trying to be a miniature Tony Robbins, and to an extent you are correct. What do I have to do to get people to pay $10,000 per ticket to see me speak?! But ask yourself this: If you have a cynical or negative outlook of money, why not try to have a positive relationship? If you’ve been poor your entire life, why wouldn’t give a new approach a shot? This is about personal accountability and understanding how our psychology affects every facet of our life, including our wallet. What do you have to lose?