Money is an important topic for everyone. However, not everyone has a healthy relationship with money.
Your money relationship is not determined by how much cash you have in your bank account or the state of your savings portfolio. Your connection to money is about how you see it, your money mindset, and how you employ it to improve your life.
If you are a female entrepreneur, then you know that there’s no shortage of challenges. From managing multiple roles to overcoming fear, it can be hard to stay confident and motivated.
But with the right mindset, you can power through any obstacle. Here are 12 money mindset tips to help you improve your relationship and mindset with money as a female entrepreneur.
Money Mindset Tips
Create a Wealth Mindset with These 12 Money Mindset Tips. This article will teach you how to utilize your mind in order to train it and establish habits that will lead you down the road to financial success.
1. Change Your Money Story
We all have stories we tell ourselves (and everyone else, too!) These stories are more than just a recitation of facts: They’re self-fulfilling prophecies that we manufacture to avoid confronting our fears and shortcomings.
In case you hadn’t noticed, stories are not always true. … However, the more we tell them, the more powerful they become until we get trapped by them.
We might tell ourselves that we’re bad with money because our family is poor with money. Sorry to disappoint you, but your financial habits weren’t passed down through your DNA.
Negative ideas and emotions about money are very typical, and they can be passed on from generation to generation. It’s our behaviours and attitudes that we pass on. And these, we can modify.
To be successful in creating a future-proof financial plan, you must first change your narrative about money and reset your beliefs and habits.
2. Remove Blocks & Retrain Your Brain
So you’ve established a new money narrative for yourself, and now it’s time to uncover and dispel the barriers you’ve built around money.
The first step in creating a new narrative is to start. It’s a lot deeper than removing mental blocks. There are several ways you can train your brain to overcome these barriers once you’ve identified them.
- Meditation [My Favourite]
- EFT Tapping
- Subliminal Messaging
- Money Reiki
There are a number of methods for removing blocks, and you may utilize more than one approach.
Not every strategy will be appropriate for you but feel free to look into them further and see whether anyone (or more) of them may help you remove your own financial roadblocks.
All the techniques in the world will fall short if you don’t know where your barriers are coming from—and commit to overcoming them with action.
3. Daily Money Affirmations
What you believe and say becomes your reality. This is especially apparent in your money relationship.
If you always say, “I don’t have enough money.” It becomes your reality. You live it out whether you want to or not.
That’s why it’s critical to surround yourself with abundance affirmations. You start to believe them as a result of focusing on these affirmations, and you begin to live them out.
Here are five affirmations to get you started:
- I choose to spend wisely.
- I have all that I need in this moment.
- I have abundance and I choose to help others.
- Money is the tool I use to create a life I love.
- I’m developing my money smarts.
- I love money and money loves me.
4. Invest in Yourself
You might hit a plateau if you’re a solopreneur or run a small business. A spot where you can’t go any further in your company or life unless you first invest in yourself.
You may be a motivational speaker, but you’re only being invited to small events. You wish to address larger audiences in larger settings.
You could struggle for a few more years trying to figure it out yourself or invest in yourself. To gain advice, hire a coach. Make an appointment with a speaking expert for assistance.
The first step in improving your financial situation is to accept that you’re not satisfied where you are. Once you’ve done this, financial doors will begin to open for you, and your relationship with money will improve.
5. Forgive Your Money Mistakes
We all make mistakes from time to time, and your money will not always look as you want it to. However, in order to go further, you must be able to forgive yourself.
Own your mistakes, learn from them and move on.
6. Be Grateful For Now
You have to be thankful for what you have now. Be appreciative of your present income. Whatever you’re paying for is adding value to your life, so be grateful.
Paying your gas and electricity bill gives you the value of keeping you warm in the winter, being able to charge all the various gadgets that keep you entertained. Be grateful for that. Your rent or mortgage payment is the roof over your head.
So many people desire more money, but what you have now is greater than what others have. So thank the universe for allowing you to create money to do what you desire now.
7. Face Your Current Money Situation + Make a Plan
Having blinders on when it comes to your cash may not be advantageous to you or your future, so it’s critical to understand where you’re at right now with your finances.
Sit down and figure out exactly how much money you make, as well as exactly what you spend it on.
- How much do you spend on priority bills?
- How much are your living expenses each month?
- How much is left over at the end of the month?
- Are you overspending each month?
- Do you have debts?
- Do you have a retirement fund?
- Do you have savings?
When you’ve discovered the answers to these questions, you may begin planning how to address any issues.
If you do have debt, develop a strategy for repaying it. Make a budget to help you save money. Begin a plan to build your retirement fund if you don’t already have one.
If you’re overspending each month you might need help to figure out how to boost your income sources. Create a budget, research ways to increase your income streams.
8. Clean Up Your Credit Report
Your money mindset begins to shift the closer you get to your money goals. It’s time to go after it full force if you’re serious about creating money for yourself.
The best way to start this is by cleaning up your credit report.
9. Make a Money Bucket List
Another money mindset tip is to make a money bucket list. Include everything you want to achieve with money:
Locate money mentors and take them out for dinner or coffee. Exchange advise and expertise with them;
There is so much power in knowing where you are with your money and having a plan to get it to where you want it to be.
A money mindset tip is to pay attention to your money. Do you have money? If so, how much do you have? Is it a big enough amount for the life that you want?
10. Set Ambitious Money Goals
Setting goals that will propel you forward with enthusiasm is an important step in planning your financial future. Set ambitious objectives for both your business and personal life.
It may be to make $6,000 per month in your business, or it may be to have a $3 million retirement fund. Make it audacious.
11. Keep Personal + Business Separate
Even if you’re a solo entrepreneur, your personal and business finances should remain distinct. Setting solid money habits is just about getting yourself in the right financial mindset to help you grow your business into a multi-six-figure/multi-seven-figure business.
Consider how much more money you’d have if your personal and business finances were all combined. What happens to your taxes? You’ll be penalized.
However, if you don’t implement this fundamental concept right from the start it’s likely that your finances will get very messy.
12. Be Confident With Your Money
Sometimes a lack of confidence prevents you from building wealth and managing your money. Maybe you don’t understand specific financial terms, or someone ridiculed you into believing that money was difficult.
Don’t be concerned, everything you need to know about money can be acquired in books, courses, blog posts and YouTube videos. Don’t be afraid to get a book on budgeting or take an online course about investment funds.
It’s time to take charge of your money and adopt a positive money attitude. You can begin this process by determining what’s preventing you from moving forward with your dreams and then working hard to shed those bad financial ideas.
Money Mindset Books
Here are some books you should read to develop a healthy money mindset.
- You Are a Badass at Making Money: Master the Mindset of Wealth: Learn how to save your money with one of the world’s most exciting self-help authors
- The Wealth Chef: Recipes to Make Your Money Work Hard, So You Don’t Have To
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
- Secrets of the Millionaire Mind: Think Rich to Get Rich!
These money mindset books offer an excellent foundation. All of the money mindset ideas and money lessons for women are available to you now, so begin applying them as soon as possible to achieve financial freedom!
If you enjoyed these money mindset tips for female entrepreneurs, please share this article with your friends and family on Facebook and Twitter.
Also, please check out my money mindset books at Amazon.com, where they’re available as a paperback and Kindle!
And Don’t forget to download your FREE Money Mistakes Entrepreneurs Should Avoid Report below.