15 Ways Your Mindset Shapes Your Wealth

Globally, 73% of the world’s population believes in the law of attraction, which states that you can manifest what you want with the correct mindset. But does it work?

According to a 2022 YouGov poll, about 29% of Americans believe in manifesting. And even if you’re not a believer in manifestation, karma, or anything else of a spiritual nature, mindset has its place. Keeping your thoughts positive might not be practical 24/7, but overall, it’s not bad advice. So, how does your mindset affect your overall wealth? Let’s find out.

1. Attitude

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When I was little, my parents taught me that two of the worst words in the English language are “I can’t.” If you can’t, you never will, and this negative outlook can sabotage any progress you’ve made toward your financial goals. It can be difficult, but try to say “I will” instead of “I can’t” and see how things turn around.

2. Clear the Path

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As you develop a positive outlook, your decisions will follow. For instance, if you create a goal of saving $6,000 this year, you’re more likely to aim for actions that will help you achieve that objective. As with everything, though, keep that mindset positive because if you start to believe you can’t reach that goal, you are much less likely to make your actions follow along, and the year will end without realizing that goal.

3. Lookout for Limiting Beliefs

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When I first started looking into mindset work — changing your mindset into what you want it to be — I had no idea how a limiting belief could impact your growth. When creating your financial goals, cut out these limiting beliefs that may tell you you do not deserve financial freedom or that you can’t become wealthy at your age. They kill your progress and can derail everything you’ve worked for.

4. Decisions, Decisions

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Wealth doesn’t just come to most of us; we must work for it. Ergo, you have to make good, positive decisions regarding your finances. Creating and following a budget, putting aside money for emergency and retirement funds, and paying down debt until debt-free are good, solid choices that can significantly impact your finances and mindset.

5. Own It

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Financial decisions can span the spectrum from really poor to excellent. Owning your choices and their consequences is vital in keeping your mindset in the right area. When you make a money choice, be sure you can take responsibility for it and the results that come from it.

6. Lesson Learned

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While financial choices have apparent consequences, you don’t have to stay locked into them forever. Get honest about what worked and what didn’t, then move on. Learning lessons is a human condition; it’s going to happen. Grow from the experience so you’re not doomed to repeat the mistakes you’ve made with your money.

7. Good Advice

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Whether reading books, listening to podcasts, following social media influences, or hiring a financial planner, follow good, tested, provable advice. This is especially true if you need more knowledge about investments, the stock market, mutual funds, etc.

8. Upskill

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Along with learning positive lessons concerning money, you can also upskill. If you’ve never made a budget or don’t know where to start, take a course on budgeting. If you need to learn more about how the stock market runs, take a class on “owning stocks for beginners.” Gaining knowledge in financial areas where you’re uninformed can help you build a favorable mindset structure that holds its own against an unfavorable financial move.

9. Good Company

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If there’s one universal truth I have experienced more than once or twice, it’s this: It’s tough to stay mad around happy, positive, optimistic people. Therefore, surround yourself with happy, positive, fun-loving people, and you’ll be surprised how easily your mindset will start to change.

10. Don’t Get Comfortable

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When we get physically, mentally, or spiritually comfortable, we can stop growing and learning, and our progress stagnates. Regularly step out of your financial comfort zone to try new strategies, learn new methods, and discover how easy it can be to expand that comfort zone to new horizons.

11. Learn, Do, Repeat

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Balance is something you’ll have to learn while you’re increasing your financial freedom. If you spend too much time learning, you’ll miss your chance to implement that learning. On the flip side, too much time spent on old policies can mean that you’re wasting your time on strategies that won’t give you the return you’re looking for.

12. Reach Higher

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Setting small, attainable goals is good, especially when you’re just getting that mindset turned in the right direction. But once you’ve got things squared away, start reaching for higher goals. Start stretching that comfort zone so you’re constantly growing, and watch your financial wealth increase in solid increments.

13. Lean Into Hard Times

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What doesn’t kill you makes you stronger. Difficult times can be one of the most significant markers of success if you use them to your benefit instead of fighting them. Some of the greatest success stories come from adversity. Why shouldn’t you be one of them?

14. Work Hard, Play Hard

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Success isn’t going to fall in your lap. You must sacrifice to see the gain you want in your finances. The more you offer, the larger your gain is going to be. It’s all relevant to how fast and how much you want to rise.

15. Fear Not

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If you’re worried about what people will think of you, learn to let it go now. No one is walking the path that you’re walking, so their thoughts are irrelevant. You are doing the work. You are making the sacrifices. You are learning, growing, succeeding. Your thoughts are the only ones that matter, and that’s what mindset is all about.

Mind Over Matter

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Mindset is the process of mind over matter. No matter what you’re facing, you can overcome it. I’ve gone through a foreclosure, dealt with massive student debt, been fired, and suffered from imposter syndrome. I’ve also managed to land a dream job with a fantastic boss and some of the most incredible colleagues anyone could ask for. Remember to count gains that aren’t necessarily financial but help set you up for success by creating the perfect environment to thrive.

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Explore 14 surprisingly embarrassing things individuals do to tighten their belts financially. Have you ever found yourself resorting to outlandish tactics to save money, which makes you cringe to admit it? A certain Reddit user was eager to uncover the depths of extreme frugality people have plunged into. Look below for a compilation of some of the most intriguing and noteworthy responses from the original post’s vibrant discussion.

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Author: Rebecca Holcomb

Title: Journalist

Expertise: Lifestyle, Food, and Travel

Bio:

Rebecca Holcomb is an experienced content creator and journalist with over a decade of experience. She currently covers trending topics for Wealth of Geeks with a strong focus on Lifestyle, Food, and Travel. Rebecca also holds a social media marketing certification from Coursera for Facebook (Meta).