Brian Tracy explains how to build a positive money mindset: forgive past financial mistakes, set SMART goals, use a 50/30/20 budget split, and challenge beliefs that wealth is bad. He emphasizes learning more about money and choosing better influences.
Hello, I'm Brian Tracy and today I want to talk to you about how to have a positive mindset toward money. Money is hard to earn and easy to lose. Guard yours with care. Whether it is in relation to your personal or business goals. For better or worse, money tends to be a main measure of success. If you don't have a positive mindset towards money, you may fall into the or worse category. However, developing a positive mindset toward money is a crucial skill that you can benefit from for the rest of your life. To create a positive mindset around money, you want to rid your mind of all limiting beliefs that are preventing you from taking action and then start looking at the world through an optimistic lens to fully achieve abundance in your life. If you want to discover a positive mindset about money, here are a few actionable steps for getting there. First, you need to fully understand the money mindset. The money mindset is the overriding attitude that you have about your finances. Your mindset around money drives your financial decisions every day. This can have a huge impact on your ability to achieve your goals, especially your financial goals. It's vital for success to focus on having a positive money mindset. While money can be a stressful topic for many, if you change your mindset about money, you tend to make better choices about how to over overcome challenges. Money and mindset go hand in hand, so understanding it and focusing on ways to view it positively is crucial for lifelong success. Next, you need to learn how to forgive your financial mistakes. If you have never missed a credit card payment or bill, you are definitely in the minority. The truth is that the vast majority of the population has fallen short of a financial goal at one point or another. So it is important to forgive your financial mistakes. Your goal is to shift your focus away from shame and make room for better practices and a more positive attitude toward money in the future. To forgive your financial mistakes, first acknowledge what happened, recognize what lesson you can learn, learn from it and then focus on moving forward. If you start to develop a negative mindset toward money, just remember your financial mistakes are not you. You are independent of your financial mistakes in the past. The next step is to set clear financial goals once you have forgiven past financial mistakes. The setting financial goals and can be a great next step toward mastering a positive money mindset. You want to dive into what goals are within reach and what goals will take a bit of time and which ones will need to be a part of your long term strategy. Once you've identified these financial goals, apply a smart goal strategy to make sure the goals are specific, measurable, achievable, relevant, and time bound. Be sure to download a free version of my Smart Goals template in the description below, which will help you clarify your goals, focus your efforts, and use your time and resources productively. My next tip is to optimize your budget to allow for happiness Money mindset mastery is no easy on a feat, but optimizing your budget to include things that make you happy will make it a little easier. There's a difference between showing discipline and depriving yourself of all the things that you enjoy. If a gym membership or going out to dinner makes you happy, plan your budget accordingly to include these things. If you don't feel deprived, budging will feel less like a chore and it will be more likely that you will be able to maintain a positive mental attitude toward budgeting long term. You should modify your budget toward your specific lifestyle, but in general, 50% of your earnings should go toward needs like housing, food, gas and medicines, 30% to wants like vacations or learning a new skill, and 20% should be saved. Another tip that is often overlooked is to recognize your pre existing negative feelings toward money and be open to the idea of increasing your wealth. Money isn't a bad thing, so you need to stop thinking about it in a negative light or you will be less likely to attract it into your life. People often have the misconception that if they are openly trying to improve their financial standing that they will be viewed as greedy or only in it for the money. However, someone with a positive money mindset will know that this is simply not true. A better relationship with money may present you with more opportunities and help you to live the lifestyle that you desire, but that does not mean you will be any less grateful or giving. In fact, you may find that you are able to contribute to others even more, whether that be by donating to charities or having more time to spend with loved ones, since you won't feel as much pressure to constantly be earning more money. And finally, if you want to have a positive mindset around money, you should improve your knowledge of personal finance. Continuing to learn is one of the most important elements of success, and financial success is no exception. So be sure to surround yourself with people who exhibit positive spending habits. Read books that will teach you more about budgeting, and make sure that your social media feeds do not promote negativity around money and spending. The key is to constantly feed your mind with new and positive content that will teach you how to think of money in a whole new way. Now I'D love to hear from you. So my question today is what financial goals are you working towards and how will you use these tips to help reach them? Leave a comment below and I'll be sure to follow up with you. Thanks for watching. Remember, if you want to change your future, take action. And take action now. If you enjoyed this video and feel it was valuable in teaching you about how to have a positive mindset towards money, subscribe to my channel like this video and share this video with your friends. Don't forget to click the button on the screen for a free gift. Thanks again for watching.
