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Five Ways to Create a Positive Money-Saving Mindset

By on January 8, 2018
Create a Positive Money-Saving Mindset

Making any major change to your lifestyle needs to start with cultivating the proper mindset. If you want to get healthy, you’ll need to reevaluate the way you think about food and exercise. If you want to get a promotion at work, you need to learn what makes you an asset to the company and start seeing yourself that way. If you want to save money, you need to start by creating a positive money-saving mindset – keep reading to learn how to do it.

1. Become More Aware of Your Money Mindset

Money is a basic necessity and a big part of your everyday life, but how much do you really think about it? Think about all of the decisions you make on a daily or weekly basis that involve money and consider your thought process. If you can increase your awareness of how you think about money – both saving and spending – you can alter it for the better.

2. Forgive Yourself for Past Financial Mistakes

We all make mistakes – especially when it comes to money. If you made a poor financial decision in the past, stop dwelling on it and forgive yourself. Maybe you spent too much using a credit card and now you’re saddled with debt or maybe you chose an expensive private school over a state university. Even if your past financial decisions are still affecting you today, forgive yourself and start thinking about how to correct the mistake instead of wishing you’d never made it.

3. Quit Comparing Yourself & Your Financial Situation to Others

It is easy to compare yourself to others, particularly when it comes to money and things you can buy with it – this is especially true with social media. Seeing friends posting about new purchases or watching celebrities spend millions on a new mansion can be deflating but you need to understand that you are who you are and your situation is your own – make the best of it! The more time you spend wishing things were different, the less time you’ll have to dedicate to actually making a change.

4. Set Some Reasonable Goals

Once you’ve started to change your money mindset for the better it is time to start setting some goals. Do you want to save $100 every month to build a nest egg? Do you want to pay off your credit card within the year? Do you want to chip away at your student loan debt? Identify practical and attainable financial goals and then make a plan for reaching those goals.

5. Be Grateful for What You Have

One of the best things you can do in life is to be grateful for the things you have – this applies especially to your financial situation. While you might not be as wealthy as someone else, if you appreciate what you do have then you’ll be happier in the long run.

While money can’t buy happiness, having a positive money mindset can make your life easier and a lot more pleasant. Whether you have a lot of money or a little, follow the tips above to improve the way you think about money and to boost your savings.

Frugal Village

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