Simple thoughts, actionable steps, and success principles to accelerate your path to a wealthier life.

How Your Mentality Affects Your Reality: Understanding The Science Of A Money Mindset

May 15, 2023

Today I want to break down how your mentality affects your reality, specifically, how your money mindset shapes your financial situation. As renowned motivational speaker Jim Rohn once said, "You are the sum of the five people you hang out with.

Your circle of friends can influence your habits, and this applies to your finances as well. If you surround yourself with people who live beyond their means or don't prioritize building wealth habits, you may unwittingly adopt these behaviors. 

In this article, we will dive into the science behind how your finances and the way you think about money are directly linked, shedding light on the powerful connection between your mentality and your financial reality.

1. Growing Your Bank Account Requires Growing Your Mindset.

 Part of growing your bank account requires you to grow your mindset, change your beliefs, and develop new habits. Negative emotions around money create a vicious, unconscious cycle that can sabotage your efforts, no matter how many wealth habits you practice. 

It is essential to become aware of the thoughts and emotions directly tied to money because, without self-awareness, your subconscious wiring will override your conscious desires and rational thinking. Those old thoughts and beliefs that aren’t serving you will end up driving your actions, behaviors, and habits. By understanding the power of your mindset, you can take control of your financial situation.

2. Identify and Change Your Negative Money Associations.

 There's no shame in having negative money associations. It's something that needs to be addressed and changed because it creates a vicious, unconscious cycle. 

Perhaps you fear not having enough, looking stupid, appearing greedy, being exposed, or feeling guilt or shame. Regardless of what negative associations you've learned about money, the truth is that money simply magnifies a person's virtues and flaws. The goal is to identify the beliefs you have and see if they’re giving you the financial future you want. If they aren’t, it's crucial to change them.

3. Confront Change Head-On.

 The only way to break the pattern of avoidance is to confront the dreaded task. By facing the facts and moving forward with the task, you can break through the cycle of avoidance. Your anxiety may temporarily increase, but if you stay with it, it will steadily decline. 

You have to tolerate short-term discomfort to achieve long-term gain. Remember that you are stronger than the whims of your brain and have the capacity to overcome challenges.

4. Rewire Your Brain and Choose a Different Script

 Scientifically speaking, you can rewire your brain and choose a different script about how you think of money. Our brains have the remarkable ability to form and reorganize connections between neurons, a process known as neuroplasticity. 

Studies have shown that our attitudes and beliefs about money are shaped by our experiences, upbringing, and the messages we receive from society. However, by changing the way we think about money, we can create new neural pathways that support our financial goals.

Here are 3 effective ways to rewire your brain.

  • Affirmations

Affirmations are positive statements that help you visualize your financial goals and shift your mindset. By repeating affirmations such as "I am wealthy," "I am financially secure," or "I am a money magnet," you can cultivate a positive attitude towards money.

  • Visualization 

Visualization is another powerful tool to rewire your brain. By visualizing yourself achieving your financial goals, you can train your brain to focus on positive outcomes and increase your motivation to take action.

  • Direction

Our attitudes and beliefs about money are not fixed; they can be reshaped. When we find ourselves stuck in mental loops or self-sabotage, one effective method is redirecting our brain towards a more positive path. This could involve incorporating elements like music, meditation, reading, learning, or reflecting on the positive aspects of our lives. Through the remarkable power of neuroplasticity, we have the ability to rewire our brains and adopt a new mindset towards money.

By using techniques like affirmations and visualization, we can shift our mindset, increase our motivation, and achieve our financial goals.

So, take the first step today. Evaluate your money mindset, identify negative associations, and commit to making positive changes. Embrace the science behind rewiring your brain and cultivate a mindset that supports your financial goals. With a strong money mindset, you can overcome obstacles, make empowered financial decisions, and create a future of prosperity.

Remember, your mentality affects your reality. Choose a money mindset that aligns with your aspirations and watch as your financial situation transforms. For more on this topic head over to Generation Wealth and listen to Episode 76.

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