Fixed Mindset vs Growth Mindset - Financial Fitness with Alan Akina

Good morning, gang. Today I'm going to share with you the number one key to success in your financial life. In fact, you can use this in every area of your life. It's called mindset. You see, there are 2 types of mindset that you can have: a fixed or a growth mindset. Based on a book Stanford psychologist Carol Dweck wrote, she states that those that have a fixed mindset believe that the qualities they possess are fixed traits, meaning they believe that they can't improve their skills, knowledge, and situation. Basically, they believe that it is what it is. On the other hand, those with a growth mindset believe that they can improve their situation, they can increase their knowledge and skill set, and ultimately they believe in a better future for themselves. Now that you know the difference, it's important to get a realistic evaluation of where you currently are with your mindset. Now, be honest with yourself. Even if you are more towards a fixed mindset type of person, that's fine. The next thing I want you to do is take the steps necessary to move towards having a growth mindset. You have to be patient and don't give up. For Wake Up Today, I'm Alan Akina. See you next week.