I know you want to grow your business and do amazing work. You deserve to be paid what you’re worth, but sometimes it’s hard when the bills don’t seem to balance.
This is why it’s so important for female entrepreneurs to set their mindset on earning their worth and improving their money mindset- not just in order to grow their business, but also for themselves.
When you think about your finances and how they affect your business, what do you think of? Do you worry more than necessary or feel like there’s never enough money coming in? Does the thought of budgeting make you want to curl up into a ball?
I’m here for you – with tips on how to improve your money mindset so that you can start earning more than just enough!
I’ll show you how to stop beating yourself up with self-sabotaging and instead use new thought patterns as your go-to way of thinking about your finances. Ready? Let’s get started!
What is Your Money Mindset?
Your mindset about money is a very powerful thing. It can either help you succeed or push you down into self-sabotaging.
Your money attitude is the way you think about money both consciously and unconsciously. It influences your financial actions (or inaction) such as generating and keeping money.
Your money mindset was formed through a combination of your own experiences and what you were taught as a child about money by your parents and family. You can modify it, but first, you must understand why you believe the way that you do.
You might find yourself sabotaging your success because you think you’re not worth the amount of pay that comes in, or perhaps you feel you don’t deserve as much as others. If you feel like your mindset about money is holding you back, then it’s time to shift the way you think about your finances and start focusing on earning more.
How can You Improve Your Money Mindset?
If changing how you see your financial situation seems like too much of a challenge, fear not! There are actually ways to boost your money mindset and turn it into a positive thing.
Here are some simple yet effective ways in which you can improve your money mindset and start earning more:
1. Improve Self Confidence by Treating Yourself
Women who struggle with their financial situations tend to do so because they feel that they don’t deserve the beautiful things out there.
This mindset can be hard to break out of, but here’s an easy way to start: when you see something that makes you want to spend more than you should, just tell yourself ‘no’.
However, add it to a list and make it a reward for achieving a goal.
If you allow yourself these little treats every now and then, you’ll train your brain into thinking that it is okay for you to have these things. This will mean that you’ll stop beating yourself up and instead you’ll be able to save a little more, start a business fund or pay off your debts!
2. Improve Your Finances Outside of Spending
There are ways that you can improve your financial situation without having to spend money – it’s just about finding the right way to go about it.
If you’re not earning enough in your business and feel like you need a raise, then give yourself one – after all, it’s your business. Raise your prices.
Or think about what new services or products you can add to business that can increase revenue and get customers coming back for more.
3. Improve Savings by Cutting Back on What You Don’t Need
If you want to improve your money mindset and start earning more than just enough, then you’ll need to find ways in which you can save money without making too many sacrifices.
Now, this doesn’t mean you have to stop buying your favourite sweet treat or cancel your subscription box service – it just means cutting back on the unnecessary extras.
For example, are there any services or subscriptions for your business that you just don’t use or you’re not seeing a return on your investment? Then it’s time to cancel these.
4. Improve Your Money Mindset by Sticking to a Budget
Having a set budget can mean that you’re more aware of what you’re spending money on and where exactly it’s all going. By doing this, you should be able to improve your savings, which will eventually lead to financial security.
You should have a budget for both your business and your personal life.
5. Improve Your Financial Future by Setting Goals
When you set goals, you’re setting the foundations for your future. When you know where you want to be in a couple of years’ time, then it makes it easier to take steps that will enable you to get there – like improving your money mindset.
This means sticking with your budget and saving diligently every month, even if what you’re saving is just a few dollars.
Scarcity Money Mindset: Do you think that there is not enough money?
The 5 tips above will help you to start improving your money mindset, however, you must discover the source of your money mentality. There are four typical causes of a poor money mindset that you might be experiencing:
Your parents had poor money mindsets.
Families have an impact on our money relationships, for better or worse. Your attitude toward money may be influenced by your upbringing if you grew up in a poor household.
If you were taught to fear money or had parents who struggled financially, it is likely that they passed on these fears to you.
You’re bitter about your financial hardship.
Sometimes, individuals are caught in financial difficulties as a result of someone else’s poor judgments or due to their own mistakes. Regardless of what your problem is, it can be overcome.
By letting go of resentment toward others, you will free up energy. This leaves more room for solutions instead of problems.
Your friends have poor money mindsets.
Your friends can assist you in achieving all of your financial objectives or they can prevent you from achieving them. Which do your pals help you in doing?
You may have friends who share your views on money and work, but you need to branch out and meet people with different views. You can improve your own mindset by observing others’ responses to challenges and opportunities that they encounter every day.
Your life circumstances cause you to experience a poor money mindset.
If you are living in poverty or constantly worrying about finances, you may have a negative attitude toward money. This is because people in these situations tend to focus more on the short term rather than planning for the future.
Focusing too much on immediate problems can lead to stress and frustration that are not good for your physical or mental health. Improve your money mindset by opening up to your family, friends, and professional advisers. Ask for help when you need it.
You lack self-confidence.
A lack of confidence in your money skills can sometimes be linked to a poor money attitude. Rather than addressing these issues, you prefer to avoid money and worry that you’re wasting it. You believe you don’t have the intellect required to create a budget or save for retirement.
As a result, you may assume that others are smarter, so you never question their financial decisions. Improve your money mindset by understanding that you have what it takes to achieve your goals.
Uplevel Your Money Mindset
It’s time to take control of your money and develop a positive money mindset.
You can start this process by discovering what’s holding you back and actively working to let go of your toxic money beliefs.
If you believe your lack of self-confidence is affecting your financial management, you should talk to someone else. Don’t be scared to pick up a book on personal finance or take an online course about retirement funds.
Surround yourself with individuals who have a healthier money mentality than you. Join Facebook groups and masterminds for people who make six and seven figures.
Never consider yourself a victim, especially when it comes to money. When you fill your mind with better facts, you can make smarter judgments. Read books, take classes, and get coaching to build a positive money mindset.
Begin to invest strategically in your business.
You’re a solopreneur, and you’re proud of the fact that you’ve bootstrapped your business from the bottom up and handled every challenge that’s come your way.
However, far too many small business owners are working excessive hours, getting burned out and frustrated—not because they aren’t excellent at what they do, but rather because they are uninterested in putting their whole efforts into their business.
They might not be taking the steps and making the investments that could have a significant influence on their business because they are allowing a scarcity mentality to hold them back. And you may be, too.
Improving Your Money Mindset Like a Pro
Your money mindset has a huge impact on your financial future. If you have a scarcity money mindset, it might be time to reframe how you think about spending and saving so that it can improve your finances both inside and outside of the bank account.
You deserve more than what society tells us we’re worth!
Are you ready to start building a more positive and empowering relationship with your money?
With just some simple changes in perspective, you’ll not only feel better but will also grow your business faster by earning what is rightfully yours.