Mindset Matters: Beliefs & Attitudes Of The Wealthy

So many of us want more than to simply be rewarded for our work. We want to experience the freedom that comes with financial independence. Many times, we block the financial abundance we desire because of the mental models or mindset (the attitudes, beliefs, values, and stories) we hold about money and people who have lots of it. Outlined below are five attitudes, actions, and beliefs of the wealthy:

1. Take ownership for their financial success.

Wealthy people recognize the direct connection between their thoughts, actions, and financial status. They recognize they are in control of how they respond to life’s circumstances, opportunities and challenges and are committed to designing their future.

2. Value Financial Education.

Wealthy people have wealth mentors, a financial education plan, and are continuing to learn about existing and emerging investment opportunities.

3. Be financially responsible with the money you currently have.

Wealthy people understand the importance of money management. They understand their current financial situation and have a plan to improve it. They understand that increasing their net worth is the goal and are always looking to increase their appreciable asset holdings.

4. View every situation as an opportunity.

Wealthy people are skilled at assessing situations, seeing the opportunity in them and creating a solution that brings them additional wealth. They focus on what’s possible and believe that anything they can conceive, they can achieve.

5. Value both giving and receiving.

Wealthy people understand the value of both giving and receiving. They can graciously accept a gift as easily as they can give one. Many people are more comfortable giving than receiving – if this is you, you may be limiting your ability to receive the financial abundance you desire. The wealthy also understand that givers gain. They live out this principle supporting the people and causes they are committed to. After reading these, you may have noticed that you have some beliefs or attitudes that may be limiting your ability to achieve your desired level of financial success. Here is an exercise you can complete to get a “sneak peak” at your money mindset and begin to shift it:

Financial Exercise

Grab your journal, notebook, or a piece of printer paper, and create the table below with as many rows as you think you will need. In the first column to the left, think about your life in 10-year blocks (0-10, 11-20 etc) and write down the messages you received about money (what happened, what was said, etc.). In the second column, write down what beliefs you created out of that experience (based on how you felt and experienced). In the third column, capture how this belief shows up in your life today and if it supports you creating the financial life you desire. In the last column, if your belief is no longer supporting you, write down the new belief you are choosing to replace the old belief.
Money Message Belief or Story You Told Yourself As a Result of What Happened How That Belief Shows Up in My Life Today and Does It Support The Financial Life I Want Now Your New Belief About Money
0-10 – I heard these messages
  This simple exercise may give you a “sneak peak” into your beliefs about money and help you understand your money behaviors like: why you constantly spend, can’t save, are afraid to pay your bills, won’t invest or vice versa, why you pay your bills on time or early, why you never keep a credit card balance and why you always have more than some magic number minimum (for many it is $10,000) in a bank account. The clearer you are about what you believe about money, the easier it is to understand why you haven’t asked for that raise or promotion or started that business you have always wanted. With your new found insights, you can now make a new choice – choose a belief about money that will empower you to create the financial freedom you desire for you and your family.

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