For starters, mindset is about how you think and feel about something. Financial mindset therefore is about how you think and feel about finances or money. Have you ever recognised that what you know gives you the results you have or the results you can get?
The reality is that you can change the results you have or the results you can get by changing what you know. You have the power to change what you know through changing your thoughts or learning.
Through changing thoughts and learning, you start to directly influence your mind. When the mind is strongly convinced, actions begin to be triggered, causing changes in your results. Nurturing financial mindset, therefore, is a systematic approach to activate your financial thoughts through learning, influencing your mind, and triggering actions that result in changes in your financial results.
Let’s for instance look at Josephine, a single mother’s story. Josephine was not happy with how she was spending her money (activated her financial thoughts). She went further to find out how to improve her financial situation (learning). She started to observe some ways she could improve her financial situation (influencing the mind). From the lessons learned, she noticed things she could implement (triggering actions). She started to implement some of them and then began to witness positive financial changes in her life (results).
Find detailed discussions on:
- What influences financial mindset
- Strategies for nurturing financial mindset