Change the Way You Think about Money

thinking about money

A few weeks ago I heard someone say this when teaching about finances: “When we change the way we think about money, it will change the way we handle money.” This statement made me stop and think because I realized that it is so true. I know that when I changed the way I thought about money it had a huge impact on how I handled it. Much research has been done to show the effect of your thinking on your actions and the corresponding results in your life. I won’t go into that here, but I’d like to offer a few examples of some thought patterns that could be changed for a better financial outlook.

Old Thought: What monthly payment can I afford?

New Thought: What wil

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6 Responses to Change the Way You Think about Money

  1. M- Qasim says:

    Is effective

  2. Joshua says:

    Excellent post. It takes diligence to get into this mindset, but when you get there you are well on you’re way to financial freedom.

  3. Miranda says:

    Great post! It is so true that so often the prevailing mindset is what gets us into trouble. I especially like the “Can I afford it question?” It goes along with another Old Thought: “How much credit can I get approved for?”

    Just because you can, doesn’t mean you should.

  4. Carol says:

    So often poor people make poor choices. I had my daughter and boyfriend living with us to help them get a new start. His first check he bought a play station. I think he should have been saving for the future.

  5. I like this blog everything you say is true. I want to add this one if people wants to spend more of what they earning well you might be in big trouble in the future.

  6. DedicatedSaver says:

    Here is a thought I have never forgotten and which I think about daily. At one time, in my 20s, I had a roommate who was much better at managing money than me. She was a real estate agent and in a down market, always had $$. I made $13,000 a year at that time-yes really! And struggled desperately to make ends met-I was a postdoctoral scientist. She said, “DS, the difference between you and me is that you try to live within your income and I try to make my income fit my expectations”. It was an eye opener. While she had many useful habits that allowed her to maximize the amount of $$ she had, this was the one thing I still recall and that I now aggressively use, ALONG WITH budgeting, to attain my financial goals-in my career-building my ability to compete for higher paying jobs for example.

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