How To Build A Positive Money Mindset

At Ingressive for Good, our mission is to increase your earning power. We want you to experience financial freedom and we believe it is possible. You just have to believe it too. Financial freedom starts from your mind! 

Your mindset plays an important role in determining the outcome of your life. Your money mindset makes up your beliefs and attitude towards money. It affects how you make decisions about money. If you truly want to achieve financial freedom, the best way to start is by examining your money mindset. Is it positive or negative? Do you have an abundance mindset or a scarcity mindset? 

A person with an abundance mindset is not afraid to take risks, believes there’s no limit to what they can achieve and seeks opportunities to learn and grow. A scarcity mindset is limiting; this makes you think you can’t get beyond a certain level financially. Most times, our mindsets are as a result of our background and life experiences. Don’t let these prevent you from achieving the best. Your only limitation is you!

A typical example is investments. Some people think investments are only for the rich. This is not true! As long as you earn some money, you can invest. How you treat a thousand, will determine how you treat a million. The financial life you want is possible. You just need to believe it is and embrace the right money mindset.

But before we go forward, you need to examine your current money mindset. Ask yourself these questions, write your answers in a journal and review when you’re done reading this article. 

– What are my fears about money?

– Do I believe I can be successful?

– What are my financial goals?

– Do I believe I can live a broke-free life?

– What would I like to change?

Now take these steps to build a positive mindset;

1.  Allow yourself to dream: It’s okay to dream big and want great things. You can be wealthy even if you’re not from a wealthy family. We know it’s possible and here’s why we think so. You’re probably the first or only techie in your family. Isn’t that something no one else has done in your family? That’s proof that you are limitless and you can achieve anything you want. You’re working towards your dreams of building a successful tech career even if it’s probably something no one in your family has done before. Dream big!

2.  Declutter the lies: Growing up, you’ve heard all sorts of things about money. These things have been practiced by others and passed on to you. Some are good and some aren’t. For you to move forward, you need to let go of the money myths. Some are; “I can always save later”, “it’s normal to have a lot of debt”, “If you can’t stop thinking about it then buy it”, “you don’t need an emergency fund if you don’t want bad things to happen to you” . The list is endless! You need to let go of these limiting beliefs so that you can grow. 

3.  Get educated: How do you make the right decisions if you don’t know the right thing to do? Financial literacy is very important in managing money and that’s why we partnered with Money Africa to empower 10,000 women with financial skills. There was also a session where the founder of Money Africa taught on managing personal finance as a techie. If you missed it, you can watch the webinar here. Don’t make decisions without informed knowledge.

4.  Plan based on “You”: Your lifestyle, goals, income, needs, wants are factors you should consider when making decisions. It shouldn’t be about what others are doing but what works for you. Don’t let societal standards, family, friends dictate how you should manage your finances.

5.  Know your “why”: Why do you want to build wealth? Why financial freedom? Write it down somewhere and have it in mind so when you need to make decisions, you can think about your “why” and let it motivate you to do the right thing.

6. Make a decision: You need to decide what you want. Have it in mind that it’s a process you need to be committed to. Being financially successful doesn’t happen by wishful thinking. Understand that the decisions you’d make would pull you closer or away from your financial goals.

It’s very possible for you to achieve whatever you want to achieve. You can live a broke-free life and your background should not limit you. Think about what you want and start doing things that can help you get closer to your goals.

Henry Ford once said “Whether you think you can or you think you can’t- you’re right!