Money Mindset Makeover
Sep 27, 2023What is Mindset and how does it impact your relationship with money?
You have likely heard of the concepts Carol Dweck brought into the mainstream of having either a Growth Mindset or a Fixed Mindset. Since then, the word "mindset" has been applied to many different areas, including money.
Mindset is essentially the combination of our Beliefs, Experiences and our Habits. There is a lot of conditioning that impacts mindset as well, whether it be from our childhood, gender, culture, generation, etc.
As you can see, there is a lot to unpack when it comes to anything to do with the mind.
Having done a lot of personal development over the years I have delved into many different concepts, modalities, and philosophies (both modern and classical). There has been a lot of research and a lot written about mindset and how our minds work.
The area I love most is once we understand how the mind works, how to then "interrupt" or "manipulate" our minds to think and act in a way that helps us achieve the things we want. It's a bit like having a superpower - which can help us help both ourselves and others to get out of our own way, and support each other in raising the collective consciousness.
So, back to how our mindset is formed.
I believe there are 4 main components to how our mindset is formed:
- Our sense of self, aka our identity. The type of person we identify as
- Our beliefs, which is built on our sense of identity. It's who we believe we are as a person.
- Our behaviours, which are the physical manifestation of our identity and beliefs. Once we see ourselves a certain way, we then behave this way because "that's just how a person like me behaves". It's "just who I am".
- Our habits, which are the repeated thoughts behaviours that then become part of our regular routine, based on who we believe we are
See how embedded this becomes if you repeat the cycle of these 4 components day in and day out over years and then decades?
It may feel impossible to change any of this. Yet, it IS possible!
What you need is to INTERRUPT just ONE of these 4 components. Just ONE element! You can either do this intentionally, or life will throw something in your way which forces you to question something related to these components. This is often referred to as an "Identity Crisis", or a tragedy may impact your life, which means you begin to "question everything". Or, you have a child, and while on maternity leave, you start to think about what life would be like if you did something you actually love.
Do you see what I mean by an interruption?
There are a number of ways to intentionally interrupt this 4 component cycle, and the 2 components that I have found to have the greatest impact and are the "easiest" (I use this word when comparing to the other 2 components, which are bloody hard to interrupt) are:
- Beliefs; and
- Habits.
Working to change your sense of self or identity is extremely difficult, even with a deep motivation behind it. Why? Because as humans, we are wired to survive. Survival comes about from familiarity, and anything that threatens this equilibrium is immediately put into the "dangerous" category, and your body and mind will literally shut down areas of your brain to keep you safe.
And no, I'm not being dramatic. This is what happens. Just think of horrific accidents, people "black out", which is the brain's protection mechanism kicking in to protect it from a horrible experience and to help speed up the healing process later.
Working to change your behaviours takes a lot of willpower, of which we have a finite supply on any given day. That's why we set resolutions on New Year's Eve, when we are either euphoric or depressed and set unrealistic goals that we have no ability or real intention of keeping. Interrupting our behaviour is just plain hard.
So, that leaves us with Beliefs and Habits, which are able to be interrupted and changed incrementally.
This last word is particularly important, because remember before when I mentioned how our brain likes familiarity, as it feels safe? Well, if we start making small changes on a regular basis, our brain is much more comfortable with this, and we accept each small change, rather that outright rejecting and shutting our brains down.
Now, I realise this is a lot to take in, and it's a topic I'm SUPER passionate about (if that hasn't already come through), so, if you want to know more, I have recently recorded a FREE video with accompanying journal to help you begin to interrupt your own Money Mindset, so you can give it a Makeover.
This is why it's called "Money Mindset Makeover for Female Entrepreneurs". This is particularly aimed at women in business, as the world of being a business owner is like personal development on steroids! We encounter SO many changes and challenges at such a fast rate, that learning how to manage our mindset is absolutely essential.
So, download this FREE Video Guide, and let me know what you think!