June 25

5 Key Formulas to Get Your Money Mentality in Shape

Prisca Languila

Everyone has a money mentality. The way that you think about money is what makes you choose to spend or save it. It’s also what makes you believe that you’re a broken human being who needs to be fixed with psychological therapy. In fact, many people who don’t have a lot of money think they don’t deserve to have more . . . because they’re ‘bad with money,’ and there’s nothing they can do about it. Money can be frustrating. There are so many things I wish I knew when I was younger. One of the most important things is how to get your money mentality in shape. A healthy money mentality is crucial to your financial well-being. To help you find the right mindset, we’ve put together 5 key formulas you can use to reshape your thinking.

Recognizing Emotions

The first step in changing your money mentality is recognizing the emotions that drive you. Are you feeling stressed, tired or emotional? Take a moment to reflect on what’s causing this reaction and determine how it might be affecting your spending.

If your financial situation is causing stress, then the best way to deal with it is by creating a budget and sticking to it. You may need help from a financial coach, who can help you understand how much money you need to save and where your money is going each month.

Most people have an emotional attachment to their money. They feel like they’re entitled to spend it on whatever they want. They don’t consider the consequences of their actions until it’s too late. If that sounds like you, then the best thing you can do is practice self-control and recognize when your emotions are influencing your behavior. When you’re able to identify and articulate those things, you’ll be much more likely to increase your savings rate. Here’s a question you can ask yourself before making any purchases to identify the emotion: “What emotional state am I in right now in regards to this purchase?

Letting go of Traumatic experience

If you’re getting stuck in a rut, it may be time to let go of a past traumatic experience with money. It could be about how you were raised as a child, or how your parents handled finances. Or maybe you have some deeply ingrained beliefs about money that prevent you from being successful today.

Whatever the cause, if it’s preventing you from succeeding financially, it’s time to let it go.

Here’s how:

Write down the situation and what happened. Write down any feelings that come up when the traumatic event occurred (frustration, anger, jealousy) and anything else that was happening at the time.

Once you have all your thoughts on paper (no matter how painful), imagine yourself in a safe place where no one can hurt you physically or emotionally (for example, sitting on the beach). Then read through what you wrote out loud and imagine yourself letting go of each thought as though it were smoke rising into the air around you. As each feeling floats away into nothingness, notice how good it feels inside your body.

Recurring Self-care expenses

The concept of self-care is one that has been widespread in recent years. It’s become so ingrained in our culture that it’s difficult to imagine a time when it wasn’t a popular topic.

Self-care is defined as any activity that promotes physical, mental and emotional health. It can be something as simple as listening to your favorite song or watching an episode of “Friends.” It also could be something more involved, like going on vacation or getting a massage.

For many people, self-care comes in the form of recurring expenses — things like eating out at restaurants or buying new clothes — that they do on a regular basis. While these activities may make you feel good in the moment, they may actually mask deeper issues that need to be addressed.

Doing something nice for yourself is good, but recurring self-care expenses may just be masking feelings of unworthiness. If you’re going through financial difficulties or having trouble with relationships in your life, it can seem easier to treat yourself than deal with the issue head-on.

Creating a budget for self-care expenses is a great way to make sure you’re spending money on the things that matter most. You can set aside a certain amount each month for your wellness, whether it’s investing in new clothes, taking a yoga class, or going on vacation.

Set goals and plan for them

It’s easy to get caught up in the day-to-day expenses that come with living and forget about your overall financial picture. But if you don’t take some time to plan, you could end up losing control of your budget and your finances.

One of the best ways to stay on track is by setting goals and planning for them. That way, when you see a nice pair of shoes or a new gadget that you want, you’ll know whether or not it fits into your larger financial picture.

But there’s one more thing that’s important to keep in mind: You don’t have to completely cut out spending money on items that make you happy, even if they’re not part of your plan — especially if they’re within reason and won’t put a huge dent in your bank account.

It’s important to figure out what kind of lifestyle you want and how much money it will cost before making any big purchases or deciding whether or not an item is worth splurging on. Start by figuring out how much money you need for bills, gas and groceries each month; then add any other recurring expenses like Netflix or cable TV subscriptions and so on.

Watch Your self- talk

Being financially healthy is a journey. It’s not about how much money you have in the bank or how nice your house is, but rather how you think about money.

The best way to get your money mentality in alignment with wealth is to watch your self-talk around money. Every time you say something negative about money, stop and replace it with something positive.

When you’re having a conversation with your friends, do you say things like “I can’t afford it,” “I don’t have the money,” or “I need more money”? These kinds of statements are not only negative but also self-limiting; they reinforce the idea that you don’t have enough and can’t do anything about it.

You’ll never see yourself as being worthy of abundance if you think that way. If you want wealth, then start thinking and talking about abundance. Start saying things like “I have all the money that I need and much more,” or “I’m surrounded by opportunities.”

What would happen if every time you went into a store and thought about buying something, instead of saying “I can’t afford this,” you said, “This will make me feel good”? What would happen if, instead of saying “I don’t have enough for college tuition,” you said, “My child is loved unconditionally”?


There is no one-size-fits-all solution to improving your money mentality. But by taking some time to reflect on the relationship you have with money, you can get in touch with your financial habits and emotions so you can make better decisions about how to manage your money. With these steps, you’ll see and feel a shift in your relationship with money, one that puts you in control instead of your habits and emotions.

If you truly believe in the power of money mindset, then there’s no time like the present to get started. Your current money mindset isn’t serving you, but these steps will help you develop one that does. So take a deep breath, and say to yourself, “The future is mine. One day at a time, one dollar at a time”. How does that feel? Take it in for a moment, and then let it go. Keep this in mind whenever you feel discouraged about your financial situation. It may not happen overnight, but if you work towards these things every day, you will definitely see improvement over time – and hopefully, it’ll grow into something more than just hope.

If you like this post, then check out our previous post Why Your Financial Problems Might be Related to Your Childhood.


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