I didn’t use to believe in the power of an abundance money mindset. I remember thinking ‘How on God’s earth can changing a few thoughts and beliefs actually lead to receiving more money?’
I thought that the only thing that could actually change my money situation, was me taking on a second job, winning the lottery, or asking my boss for a raise.
So whatever this money beliefs BS was, I didn’t believe in it.
But especially when I took the leap and became an entrepreneur, my curiosity peaked and I started realizing the importance and power of money stories and an abundance mindset.
Especially as an entrepreneur, I noticed that money stories can have the power to either scale and skyrocket your profits or hold you back from growth and potential income streams.
I became aware of the money stories I was told and taught as a kid, which was basically the story that money shouldn’t be spent, it should be saved.
As an accountant, my dad always told me that I should save save save as much money as possible for when I retire, for when I buy a house or car, and for when I have kids.
That’s why when I grew up, I noticed that I didn’t enjoy spending money.
All these decisions I had to make, gave me so much stress…
Do I really need this? Is it worth its price? Can’t a find a better deal elsewhere? Is it the right moment to buy it? Do I deserve this?
So what I tended to do, was buying the cheapest option and feeling really guilty about it if it wasn’t something I absolutely needed.
And then, most of the time the thing I chose to buy didn’t really bring me joy, since it was sh*tty quality (pardon my French) or just not my favorite option.
And the ironic thing was, that I actually didn’t end up saving money, because in the majority of cases, the thing I bought only survived a couple of months and I then had to go through this whole cycle of stress, guilt, and paralysis by analysis all over again.
The only thing I did splurge on was make-up, I could easily buy an eye shadow palette of 90 dollars, while a pair of sneakers of 40 dollars was just too much.
When I started studying and immersing myself in money stories, the law of attraction, and an abundance vs. scarcity mindset, I started realizing that I needed to change my money stories and live more abundantly, in order to attract more financial wealth, freedom, and joy.
The joy that this amazing quality eyeshadow palette with vibrant colors gave me, was just priceless. And I used it every single day for years.
So for me personally, adopting a more abundant mindset meant applying this makeup palette mindset to other areas in my life as well.
I learned that the cheapest option isn’t always the best option.
On the contrary, in most cases, it’s financially smarter to invest in something of amazing quality and then use it for life (or for a really long time).
Want to find out what I’ve learned through this whole journey?
Then keep on reading, my friend!
Let’s talk MONEY.
Here are 7 steps that I took (and that you can take as well) to change your money stories and start living a more abundant lifestyle.
Other Reads:
- Overcoming Perfectionism: 7 Steps to Silence Your Inner Perfectionist
- 12 mistakes you are probably making that are killing your productivity
- Why Working Long hours isn’t the Answer to Productivity
- Losing Motivation? 7 Bullet-Proof Ways To Regain Your Passion And Stay Motivated In Your Business
- 3 Key Mindset Shifts To Stop Letting Fear And Anxiety Sabotage Your Success
- How I Avoid Feeling Overwhelmed As A Solopreneur: 3 Simple Steps
Step 1: Becoming aware of your money stories
The first step in order to creating an abundance mindset is the most important one.
Becoming aware of the money stories you currently have and how these are influenced by events you have experienced and observed in your childhood can be quite confronting, but are absolutely key in order to create new stories and beliefs that actually serve you.
Take your fav notebook, sharpen your pencil and start doing some intense journaling about the following questions:
- What is your current relationship with money?
- What are some money patterns you have? Do you tend to overspend? Underspend? Or avoid money?
- Which thoughts, feelings, and beliefs do you have when investing in yourself and your business?
- Do you feel like you have an abundance mindset and lifestyle? Do you feel like you’re attracting wealth in your life?
- Which stories were you told as a kid about money? How did your parents or extended family talk about money? How was their relationship with it?
- Which specific events that involved money did you observe when you were growing up?
Step 2: How are these money stories and beliefs affecting you RIGHT NOW?
Try to really dig deep and think back about everything you have written down in the previous step. Now think about your current situation, business, financial decisions, and your overall relationship with money.
Make a list of all the ways you can think of, where your money stories that you have adopted as a kid have translated themselves into specific decisions,(lack of) actions, or money blocks and beliefs you experience in your life and business right now.
Step 3: Forgive yourself for not having had an abundance mindset in the past
Now that you have identified the money stories you adopted as a kid and have a better idea of how these have influenced the way you are currently handling money and making financial decisions, it’s KEY, you guys, to not skip the third step, which is all about forgiveness. (:
Forgive yourself for the negative beliefs and feelings you have about money.
Forgive yourself for all the times you have overspent, impulsively spend, avoided money or bought something of sh*tty quality because you didn’t think the quality justified the price.
Forgive yourself for all the times your money blocks have held you back in your business.
Forgive yourself for all the decisions you have taken out of a scarcity mindset.
Forgive yourself for all of it.
Forgiveness and self-compassion are absolutely essential to truly change your money stories and heal your ‘money wounds’.
Step 4: Create new money beliefs and stories
Take the list that you have created in step 2 and draw a line next to it. In the second column, we will now start writing our new beliefs that actually serve you and will lead to a more abundant mindset and lifestyle.
For example, in my case, I wrote:
‘I shouldn’t feel guilty for spending money on things that spark joy’
and
‘Investing money in myself and my business is important and necessary in order to scale my business.’
These replace the beliefs I wrote in the first column:
‘I shouldn’t be spending money on things that aren’t completely necessary, because I should be saving for way more important things’
‘I can only invest in my business when I have reached a certain point of profit, otherwise, I can’t afford it.’
These lists are super powerful because they help you with identifying when an old belief pops up. Whenever this happens, pause and correct it with the new belief you have created.
And when you do this consistently, you will train yourself into having an abundance mindset.
Step 5: Create action plan
In order for your new money beliefs and stories to really stick, there are a few things we can do.
One of these things is creating an action plan that goes together with your new beliefs.
Ask yourself what the new abundant you will do differently.
What does an abundant lifestyle specifically look like for you?
Which actions or financial decisions will you take in a different way than before?
Where will you be investing more or less money in your life and business?
If you think about it, money, in the end, is all about spending lots of money in the areas that are the most important to you and spending less in the areas that you don’t care about.
Maybe you LOVE investing money in automatizing your business and outsourcing parts of your work, but you don’t care about having the same computer and phone for the last 5 years.
Or maybe you don’t mind doing your social media the old-fashioned way without scheduling tools, because you prefer spending that money on a fancy co-working space with an epic view (and amazing coffee).
These decisions aren’t right or wrong, it’s really about personal preferences about what you, as an individual, find the most important.
So think about this and write down a list of 5 things you will do differently from now on.
Step 6: Remind yourself of these new beliefs
Another thing to do for these newly created beliefs to actually stick is to remind yourself of them as often as possible.
Use them as your daily affirmations, write them down, put them wherever you can see them often, and read them out loud.
Most importantly, remember that it’s a process. You won’t adopt these new beliefs overnight and you probably will have to journal a few times more about new experiences you have had, how old money stories have shown up, and how you can do things differently the next time something similar happens.
So don’t give up. Consistency is absolutely key here (:
Step 7: Visualization is essential in order to create an abundance mindset
We will take the last step a little further and start with visualization.
Visualize where you want your life and business to be in one year from now.
In one year…
- What kind of profit would you like to earn? Write down your magic number.
- What do you want your business to be like and feel like?
- What lifestyle would you like to have?
Now take it a step further than only visualizing. Journal about it, draw it, or make a vision board.
Think about 10 steps you can take right now in order to move closer to this goal number and the kind of business and lifestyle you would like to create for yourself.
The next questions can help you with creating these 10 steps:
- What other income streams could you create in your business?
- With who could you collaborate in order to mutually grow your audience and traffic?
- Which digital product could you create and sell that could result in earning money on autopilot?
- What things you are currently doing bringing in the most profit? What can you automate or outsource in order to carve out more time for these profit-bringing activities?
And when you have your list of 10 steps, take your planner or calendar and start actually planning these in. Because if it isn’t planned, it probably won’t happen.
Other Reads:
- Overcoming Perfectionism: 7 Steps to Silence Your Inner Perfectionist
- 12 mistakes you are probably making that are killing your productivity
- Why Working Long hours isn’t the Answer to Productivity
- Losing Motivation? 7 Bullet-Proof Ways To Regain Your Passion And Stay Motivated In Your Business
- 3 Key Mindset Shifts To Stop Letting Fear And Anxiety Sabotage Your Success
- How I Avoid Feeling Overwhelmed As A Solopreneur: 3 Simple Steps
That rounds up 7 steps you can take today in order to change your money stories and create a more abundance mindset and lifestyle.
If you haven’t already, grab your FREE copy of my signature Abundance Mindset!!!
Love,
Thanks for the great reminder, hopefully I achieve my goals this year adding more investment and sticking to money saving goals mantra.
This is a brilliant article. I really need to change my money mindset – I’ve never really been very good at things like that, so I need to look into it.
Thanks for the great tips!! I’ve always been big on saving but I want to be more aware of what i’m saving and WHY!!
Thanks for sharing such an interesting tips
What a thorough and informative article! Thank you so much for writing this. I really need to work on visualization.
Good tips! I liked what you said about investing in something quality that will last. I do this with things as big as my car to my cell phone, running them into the ground! But you have the right idea here, organizing thoughts and behaviors on paper, committing goals and making action plans. Smart.
Great post! Thanks for sharing! I still live in a paycheck to paycheck mindset. It serves me in some ways because I tend to be more frugal but it also prevents me from investing in tools or resources that could improve my business or productivity!
This was such a great read, thank you! Practical and easy to understand tips that make so much sense!
This is wonderful advise. It is amazing how much your mindset can change things.