Have you ever heard of working on your money mindset? There are programs, coaches, books and more that will tell you that one of the keys to bringing more money into your life is focusing on your mindset. If you can visualize yourself with money, it will happen. If you change your mindset from “money is the root of all evil” to “money is good and helpful,” you will attract more money.
This can sometimes sound strange, and many people have a tendency to be skeptical about this, but it really can help. Often it makes people focus on their money goal and it helps them realize other ways that they can make money, whether that’s reaching out to new clients, finding a side hustle or cutting back on an extra purchase every month.
There’s another aspect to money mindset, though, and it’s not about bringing in more money. It’s about keeping the money you already have.
Gratitude Brings Patience
Have you ever made an impulse buy and then wished you hadn’t later? If you are able to look at the money you have and feel a true sense of gratitude, you might be able to avoid that cognitive dissonance in the future. It turns out, according to a study in Psychological Science, that people who actively practice gratitude for the money they have are more likely to delay gratification.
Increase Your Generosity
This one sounds counterintuitive when it comes to keeping money, I know, but stick with me. Oftentimes we are more likely to want to donate to causes we care about if we’re grateful for the money we have. If you include charity in your budget or make it a priority in your life, you will need to keep track of your finances so you know you’ll be able to make that donation comfortably. (Not to mention that charitable donations are tax-deductible, which is also nice!) Many financial experts allocate 10% of their budget for charitable contributions, and while that may seem out of reach, a budget may help you get there.
Be More Content
Money sometimes gets looked down on too much. “Money can’t buy happiness” is one of the most common phrases we hear. And that’s true, we shouldn’t rely on money to solve our problems and make us truly happy. If you get used to buying expensive things, sooner or later you’re going to want things that cost even more. Gratitude can help. If we shift our mindset to be grateful for the money we have, our happiness and contentedness is no longer associated with buying expensive things, it’s associated with being grateful for what we have. Whether you choose to buy fancier items or stick with what you have, you’ll be facing each scenario with gratitude.
As we mentioned, visualization of goals and having a positive money mindset is key, but an integral part of that is practicing gratitude for the current situation while we strive to make improvements.