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As we close the books on 2024 (Beyoncé halftime performance! Timothée Chalamet’s mustache!), you might be thinking more about your money and how you want to do things differently this year.
You’re probably seeing tons of tips on topics like how to save money and spend frugally. These can definitely help, assuming they aren’t thinly veiled attempts to shame you into being better with money. 😅
But you need more than just tips–you need the right money mindset.
No amount of tips can help if you don’t believe you’re worthy of having money or feel like you have to figure out everything all by yourself.
To help, here are three mindsets to cultivate to help you get rich, build money confidence, and create the life you want to live.
1. Focus on the Next Step–and ONLY That
If you’re feeling overwhelmed by money or spiraling into anxiety over big decisions, this mindset is crucial.
Maybe you want to deal with your debt, but it’s too much to think about. You don’t have a plan, and you don’t know how to make one, either.
Focus on just the next step.
That could be logging into your accounts and looking at the numbers. Or maybe it’s listing out the amounts and interest rates of your debt.
The point is, instead of having “pay off $50K of debt this year,” you have something that’s actually doable.
You can apply this to all kinds of overwhelming money situations, like learning how to invest, setting up a will, or planning your retirement.
This mindset is important because taking even the smallest step is better than not starting at all.
2. Embrace the Boring
In practical money terms, this looks like…
- Picking funds over individual “hot” stocks when investing
- Buying insurance for your apartment, pet, or life
- Making consistent, small payments on your debt
It’s okay–and even a GOOD THING–if your money is boring.
I know this doesn’t get the headlines. Everyone wants the next big thing—whether crypto will explode or how to work 4 hours a week and make $10K a month in passive income.
I hate to be the bearer of bad news, but that’s totally unrealistic.
Most people could significantly improve their money by focusing on the fundamentals and taking care of the basics.
Don’t worry about the hot new thing. Just do the things you can consistently.
3. Believe in Your Right to Pursue Wealth Unabashedly
I have a LOT to say about society’s take on women pursuing wealth (see this whole podcast), but I’ll try to give you the tl;dr.
We live in a world where men are encouraged and glorified for pursuing money. A wealthy man is smart and hardworking, right?
But our society says the exact opposite about women who pursue wealth. They’re selfish, wasteful, and money-hungry.
Here’s my classic example:
A designer handbag is frivolous. A Rolex is a nice watch.
Before you go further into your money journey, you’re probably going to have to confront some uncomfortable beliefs about pursuing wealth. You may have internalized some ideas (we all do!) that are unhealthy and incompatible with becoming financially whole.
If you don’t like fried chicken, you can’t date me.
If you believe you shouldn’t have money, you will find it hard to get rich.
Drop the “All or Nothing” Mindset
Here’s a mindset you should actively avoid: the “all or nothing” mindset. This tells you that you must be fully committed—or you’re not committed at all.
For example, you might feel like you need to pay off your debt as quickly as possible, without spending on anything fun (gasp). If you don’t, you think you’re not really committed.
Or, if you make a mistake, you might feel like you’ve ruined everything and should just give up.
So many of us think we have to be completely dedicated to being frugal money goddesses—or we’re not on track. But that’s not sustainable.
But that’s not sustainable.
It’s better to make consistent overall progress on your debt payoff or investing goal than to try to be 100% and quit when you can’t achieve perfection.
And while I’m applying this to money, this mindset can totally affect other areas of your life. Don’t let the all-or-nothing mindset sabotage your goals–or make you miserable.
Developing the Money Mindsets that Enable Your Goals
At the end of the day, it boils down to this: money = choices.
I want you to have as many choices as possible. That’s the kind of freedom I want for every woman.
To achieve that, you need to actively cultivate your money mindset. You’ll need to fight some ingrained beliefs and create some new stories for yourself.
I know this can be hard, but trust me, it’s worth it. Things are tough enough out there–you don’t need any money mindsets that work against you!
And I promise, it’s all part of the journey to reaching those money goals and building the life of your dreams.
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