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  • Writer's pictureisabelleclausen

Three Ways To Start Developing a Healthy Money Mindset

According to the second annual 2021 Huntington "Money Mindset" survey, 47% of survey respondents share that money is the main cause for stress in their lives, 40% shared that the pandemic was the main cause for stress, and 37% shared that health was the main cause.

Many people are very worried about money. We all know this. However, how do we stop associating money with fear and start associating it with the feeling of opportunity and abundance?

In today’s blog post, we will be diving into three simple ways to shift your money mindset from fear to opportunity.

Of course, transforming money beliefs and patterns is much easier said than done. It requires work, humility, and patience. Shifting your money mindset is definitely not easy, but it is worth it.

Let’s dive in to three ways you can start transforming your money mindset today!

1. Stay away from the “scarcity” mentality

According to the Corporate Finance Institute, scarcity can be defined as an economics term used to refer to a gap between availability of limited resources and the theoretical needs of people for such resources” (2022).

In more simple terms, scarcity occurs when there is a shortage of something.

When you’re in a scarcity mindset, you will oftentimes focus on the things you don’t have, rather than the things you do have. When looking at money in a scarcity worldview, you may become possessive about money, unable to let it go to invest it, inconsistent with your budgeting habits, and unable to see money as a positive resource.

When you focus so much on what you don’t have, it can be very difficult to find the energy and focus to consider how to create more resources in your life. For example, if you are a business owner and you are constantly using your energy to worry about how much money you don’t have, you may not have enough energy to brainstorm how to grow your business and take the action steps towards growth.

So how do you stay away from the scarcity mentality? How do you channel your energy from scarcity to creativity? Rewire your thinking.

As soon as you have an unhealthy, fearful thought about the scarcity of your money or your time, redirect the thought. Tell yourself that this is just a thought and it doesn’t have to be the truth.

According to Carol Glynn, the founder of Conscious Finance Coaching, it’s important to put the word, “yet”, at the end of a negative money thought.

She shares, “For example, instead of saying, 'I don’t have enough money' try 'I don’t have enough money yet'.”

2. See each day as an opportunity to be a good steward

Seeing money as an opportunity to be a good steward is an amazing way to shift your money mindset to something positive. This can help you make and impact and better help others.

For example, if you’re at a point in your life where you’re not making much money right now, figure out how big of an impact you can make with a little. For example, let’s say your grocery budget is a little bit on the tighter end this month. Take a few moments and try to figure out how you can maximize each dollar at the grocery store.

Are there any sales going on? What less expensive brands can you consider? Is there the opportunity to buy certain items in bulk?

You can make a little bit of money go a long way even just at the grocery store. This can help your budget stay healthy, feed your family well, and stress you out less, knowing that you made the most of your dollar.

On the flip side, if you have a stable amount of money right now and you can be a little more flexible with your spending, I want you to think of what ways this large amount of money can make a large impact that will make a lasting change.

For example, maybe you have the opportunity to buy a home or a car, which can help your family and your livelihood. Or perhaps you have the opportunity to sponsor a charity or donate money to a cause you believe in.

You see, regardless of the amount of money you have, any amount of money has the opportunity to make a meaningful impact if you’re a good steward.

When you appreciate money, rather than resent it, you can utilize money responsibly and see it as a tool rather than a problem-causer.

According to a article by Lena Elkins, When you heal your relationship with money, start appreciating it instead of resenting it and see it as an unlimited resource instead of one of scarcity, your reality will naturally transform as well.”

Our reality will only transform if we put in the work to consciously shift our mindsets each day.

3. Figure out a simple way to work toward your goals each day.

I challenge you to think of two main financial goals you want to make this year. Once you think of them, figure out the 4 main action steps you need to take to meet each goal.

Next, figure out which tasks you have to do each month to meet these 4 actions steps per goal.

Finally, take a moment to determine which tasks you need to do each week (and on what days) to get to where you want to go.

The reason this is important is because when you take a large goal and break it down into bite-sized goals, you will feel a challenge and the responsibility to yourself to work hard toward these tiny goals. You will spend so much of your energy working toward pursuing this goal and seeing money as an opportunity, that your fear and scarcity will become less and less.

And each time you accomplish a tiny goal, you can feel more confident in your abilities. You can feel a sense of pride for what you have done and may consider money to be something positive instead of negative.

For example, let’s say that one of your main goals this year is to buy a house. The four main action steps you may need to meet are:

  1. Establish how much you need to save for a down payment

  2. Start to actually save for the down payment

  3. Make room in your budget to afford a mortgage payment

  4. Set a plan to sell your current residence

To break these goals into monthly goals, you may need to figure out how to either increase your income or decrease your expenses, hire a realtor, take time to get your current residence on the market, start a side hustle to bring in extra income, research what kind of loan you need and what you made need to do to qualify, etc.

Once you figure out the main goals for each month, put on your calendar what you need to do each week to accomplish the main monthly goal. Perhaps you want to interview three realtors, shop in bulk grocery twice a month, cook more at home to save money eating out, or spend two hours a day on your side hustle.

Set a date and a time, just like you would for an appointment, for these goals. If it’s on the calendar, it’s more likely to get done.

Communicate with your close friends and loved ones what your goals are so that they know what to expect from you this year.

When you get excited for a goal and build an action plan, there is less room for fear and more room for positivity because you can have clarity.

I hope these three money mindset tips were helpful. If you have questions, or if you would like to talk more about your money mindset and how you can improve it, please feel free to contact us through our website or email me at We would be more than happy to help you!

Let's work on growing financially wealthy and financially healthy together!


Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

All investing involves risk including loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

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