The Connection Between Mindset And Money
Your mindset has a direct connection between you and money. The negative things that you tell yourself create a negative feedback loop. A growth mindset can help you make more money.
Mindset plays a direct role in your success. There are three common mindsets that you could have: victim, fixed, and growth. You will continue to remain stuck where you are with the first two. The third will allow you to grow. The growth mindset also directly relates to making money.
Mindset Is Everything
Your mindset is everything. If you believe that you are a victim. You will be a victim. If you think you are fixed and stuck where you are, you will find you cannot improve. If you are focused on growth, then you will work to find ways to improve yourself.
Victim Mentality
When you have a victim mentality, you believe that bad things always happen to you. You think there is nothing you can do to change it. You think that bad things will only continue to happen. You remain a casualty of your own making with the victim mindset.
The victim mindset places the blame on others and circumstances you have no control over. You continue to make excuses by criticizing other people and your current circumstances. By placing blame on things that are outside of your control, it frees you from self-responsibility.
Self-responsibility is the kryptonite of the victim mentality.
The victim mindset believes there is no reason to work hard and put in any effort because it will fail anyway. This immediately does away with wanting to achieve any type of goal. You think that you will not succeed, so why even try?
The victim mindset comes down to believing that you have no control over your life and circumstances, blaming things outside yourself, and accepting failure without trying.
Fixed Mindset
A person with a fixed mindset believes their skills and intelligence are fixed at birth. Someone with a fixed mindset falls for the black-and-white fallacy by thinking they have the skills to do something or do not. A person who suffer from a fixed mindset tells themselves negative statements.
Some of these negative statements may include:
“I can’t do it or I can. If I can’t do it, why bother?”
“I prefer to play it safe by sticking to things I know.”
“I don’t like learning new things.”
“I am afraid of new challenges.”
“I am unable to change my abilities.”
“Failure sets the limit of my abilities.”
“My skillset is preset and cannot be changed.”
“I’m either great or terrible at something.”
“I easily give up once I encounter a challenge.”
“I take criticism and feedback personally rather than learning from them.”
The fixed mindset views things in black and white. This severely limits oneself from being able to experience self-growth. You think that you cannot improve your skills, knowledge, or abilities in any way.
Growth Mindset
The growth mindset accepts that there are challenges, but they can be overcome. Skills and knowledge are not fixed. A person can continue to improve one’s skills and expertise.
Someone with a growth mindset embraces challenges. The person gamifies challenges to psychology and equates rewards to their hard work. Someone with a growth mindset never gives up, even when they consistently encounter setbacks.
Someone with a growth mentality will learn from their failures rather than give up. A person with a growth mindset understands they can develop talent and new skills. The skills that they are not proficient in can be outsourced.
Self-education and self-development are vital characteristics of a growth mindset. Self-study is one of many defining characteristics of many self-made millionaires.
They are always looking for ways to do more to improve themselves and grow their businesses. They think to themselves, “What else can I do?” “What is the only product or service I can come up with to provide to my customers?” “What area of my life needs the most improvement?”
My Mindset Shift
One of the main things that helped me to develop a fixed mindset was that I lacked confidence due to my speech issues. I thought to be successful, I must be charismatic and be entertaining. I allowed my speech issues to get in the way of developing my self-confidence. It also got in the way of me finding ways to monetize Secure Single.
Fear held me back from figuring out my core strengths, which would become the first products for the business. I am now in the process of slowly working to come up with those products. The first is my book, which will be available on Amazon later this month. There will then be workbooks to go along with the main book.
Fear keeps many people from reaching their goals and attaining their full potential. Social conformity is another major problem that keeps people back. They are afraid of being different. They do not want to be distracted from other people. They are so scared of being the crab that leaves the bucket.
If I can change my mindset, you can too!
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Mindset Relationship To Money
Your mindset is directly related to your relationship with money. If you have a victim mindset, you will think that there is no way that you can get out of debt or find ways to increase your income. If you have a fixed mindset, you will fear doing something different and learning new skills. Even though you likely will need to learn new skills to find ways to grow your income or evolve as the economy changes.
The growth mindset accepts that one must continue to learn, adapt new skills, and continue to evolve as a person. You will work to find new ways to improve yourself, from living a healthier lifestyle to sticking to a budget and finding ways to invest money to grow your income.
Unlike the other two mindsets, the growth mindset does not fear taking risks. A person with a growth mindset knows they will learn something at the very least when they take a chance. They may learn new skills that they could use later. They may make new connections.
They are open to discovering new investing opportunities. They want to learn how the stock market, marketing, and business management works. They want to learn how to be stewards of their finances so they can prudently use money as a tool.
They also recognize that taking risks is where the highest rewards are. If you are afraid and only do what you are comfortable doing when investing, you will only get marginal returns. Someone with a victim or fixed mindset may stick to keeping their money in a savings or money market account rather than investing in the stock market or another venture that could generate a higher return on investment.
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Summary
A victim and negative mindset will help to keep you where you are. You may complain that you make too little money, live paycheck to paycheck, or do not own your home. It would be best if you worked to change your mindset and habits. You will then start to see your life change day by day. You can then start getting your personal and financial life in order.
Become A Secure Single.