Three Financial Mindset Strategies for When You’re Stuck in a Rut

Shifting Your Thought Process Can Help Solve Your Money Issues

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Improving your money mindset is a great way to invest in yourself and your future. If you’re stuck in a financial rut, read on for some simple strategies you can use to adjust your thinking in a way that pays dividends.

Why Your Money Mindset Matters

Do you ever find yourself thinking about money and feeling stressed? Do you worry, feel unprepared, or have a hard time envisioning a way you can finally feel financially secure? If you answered “yes,” then know this: you are not alone. Plenty of people around the world don’t feel like they’re getting what they need or want when it comes to money.

But often, it’s not actually about the money. Yes, you read that right! When you focus on what you think you want—money—you often ignore the bigger picture. You might be better served if you stop focusing on the size of your bank account and start focusing on the scope of what’s possible instead.

As the Buddha said, “All we are is the result of all we have thought.” Nowhere is that more evident than in your finances, and the roots of that thinking are as deep as you are old. Whatever money story you began to hear or tell yourself when you were young has likely shaped how you handle those matters now. (For more on this, check out Episode 2 of my Flourish Financially Podcast: Your Money Story.)

Think about all the idioms we hear about money: A penny saved is a penny earned. Money is the root of all evil. All that glitters is not gold. Bring home the bacon and make sure you have a nice nest egg. There are so many conflicting messages. And it’s easy to believe them all and become understandably confused, especially if you began internalizing them at a young age.

But here’s the good news: it’s not too late to turn it around! These three tips can help you rewire your financial mindset, build a better relationship with money, and establish a solid foundation for future growth.

SEE ALSO: Six Money Moves for Women Who Want More Financial Security

1. Be Honest with Yourself

The first step is often the hardest, especially when it comes to improving your financial mindset and moving toward wealth and wellness. Take a good, long look in the mirror and ask yourself: what do I believe about money? The answer will not only give a good insight into your attitude about finances, but it can help dismantle the stubborn beliefs that often underpin our financial behaviors. Are you a spender, a saver, or a bit of both? Finding out what informs those decisions can lead you to the clean slate you need to rewrite your own story.

To get to the next level of self-reflection, ask yourself what you believe you’re worth. Frequently, the real thing standing between you and success is how you both view and value yourself when it comes to business. Do you think you’re worth $100, $10,000, $1 million, or even $100 million? Whatever your figure, it likely isn’t high enough. That number represents not only what you believe you’re worth, but also what you will allow yourself to earn.

Here’s a handy exercise to figure out what your number is. Give yourself an amount that feels comfortable and attainable. Whatever that amount is, multiply it by ten and see how that feels. Then keep going. When you get to an amount that feels more uncomfortable than attainable, you’ve gone too far. When you’ve reached your limit, it’s time to have some fun.

2. Be Unafraid to Fail

You know what your financial limits are, and now it’s time to think bigger. What would you dream of taking home in earnings at the end of this year? What number would thrill you, make you feel satisfied, make you feel like you’ve finally broken the cycle? If you weren’t afraid to fail, just think of all you could achieve.

Now write that ultimate goal number down somewhere you’ll see it regularly—on a Post-It note on the mirror, as a sticky note on your phone, or affixed right to your computer screen. The constant reminder will help you reframe your money story every time you see it—the more frequently the better.

SEE ALSO: Personal Finance Habits That Lead to Financial Freedom

3. Be the Change

You may believe that a paycheck is a result of hard work. And you’d be half right! It also comes from adopting the right attitude before you ever make it big. Your financial mindset isn’t a result of your success—your success is a product of your financial mindset.

To get where you want to be, envision yourself as successful and act accordingly. For instance, if you dream of charging your clients $1,000 per hour, try this exercise. Envision yourself already charging clients that figure, and ask yourself – how would you walk into a room? How would you negotiate differently? How would you handle it if they passed on your services? Chances are, you’d feel confident in your worth at every step of the way.

Is Today the Day You Adopt a New Money Mindset?

The stories you tell yourself about yourself are powerful. If you haven’t accomplished the financial goals you’ve set for yourself yet and you’re feeling stuck, take back control by examining your money mindset. Even if you don’t see any other way forward at the moment, changing your inner thoughts about money – and your relationship with it – can bring about the change and opportunities you’ve been looking for.

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A decade ago, we embarked on a journey to empower and serve you with values-based financial planning. In 2024, we celebrate our 10th anniversary with immense gratitude for your trust and support. Here’s to many more years of flourishing financially, together!

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