What Is a Positive Money Mindset? (And How to Change Yours)

woman counting money

Why a Positive Money Mindset is Important

Do you know your money mindset can determine whether you have a profitable, sustainable business–or not?

It’s true: While you obviously need to do basic market research, produce stellar work & deliver a high-quality customer experience for your business to do well, you also need to work on your own internal thoughts and beliefs about money.

Let’s back up. If you’ve been in the entrepreneurial world a minute, you’ve probably heard the term money mindset. But do you actually know what a money mindset is and how it affects you and your business–and lifetime earning potential?

If not, no worries. Below, you’ll find a brief overview of what a money mindset is and how to cultivate a positive one to create a better financial future for you and your business.

What is a Money Mindset?

Money mindset–put simply–refers to your beliefs and attitudes about the almighty dollar.

It's the internal, mental framework that shapes how we think about money, including how we earn it, spend it, and save it. It influences all of our financial decisions and behaviors–from how you price your services to how much you spend on business-related apps each month.

In short, it can directly impact whether you make money in your business…or not.

If you have a healthy money mindset (sometimes called an abundance mindset), you innately believe that you deserve–and are able to–earn good money. You're open to new opportunities and willing to take risks. You understand that making more money requires hard work and dedication, but you also aren’t afraid to ask to be paid what you’re worth. You generally view money in a positive or neutral light, and you see it for what it is: a tool to help you achieve your big dreams and goals. You’re not afraid to spend where you need to (especially if it will directly or indirectly lead to more money), but you also know when to snap your wallet shut instead.

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On the flip side, if you have a not-so-great money mindset (sometimes called a scarcity mindset), money is usually a major source of stress, anxiety, or fear. You might struggle with managing your finances, from sticking to a budget to keeping up with your business bookkeeping.

It also usually means that you struggle to charge prices that align with the value you provide. You think of money as something that’s hard to make and even harder to hang onto.

Our money mindset isn’t something we come up with on our own, though. We develop our ideas about money early in life, thanks to family, friends, society and our unique experiences.

For example, if you grew up in a home where your mom was in constant financial panic, always juggling bills and living one paycheck away from eviction, well, it’d be no surprise if you don’t have the healthiest money mindset.

If you have a more positive money mindset, on the other hand, maybe you grew up surrounded by wealth, or saw your self-employed parent transform their dreams into a (very lucrative) reality right before your eyes.

The good news? Our money mindset is not fixed. You can change it over time–with intention, awareness and, of course, action.

So Where do You Start?

There are many ways to work at changing your money mindset so it’s more positive. Here are a few options for getting started:

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1. Learn about finances. Knowledge is power, especially in this case. Learning more about basic financial principles can also help you see money in a more positive light. By simply soaking up new knowledge and practicing healthy financial habits (like budgeting, saving and investing), you can develop newfound confidence in your financial decisions.

2. Cultivate self-awareness about your beliefs, attitudes and self-talk around money. You can do this several ways, including carrying around a journal and writing down any money related thoughts for a day.

3. Surround yourself with positive money influences. You know how they say you’re the combination of the five people you spend the most time with? One way to naturally start believing more positive things about cash is to surround yourself with people who already have it and tend to it well. This might include befriending other entrepreneurs or colleagues crushing it in your field, financial advisors or mentors or even your favorite rich relative.

When you do one (or all) of the above, you’ll not only learn loads about yourself, society and money management–you’ll also be well on your way to cultivating a positive money mindset and putting any money stress, sweat or struggle in your rearview mirror.


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