10 Key Ways to Improve Your Money Mindset

How you think about money gives you a view to damage or strengthen your will to earn, use and ultimately save. A positive mindset towards money management can lead to financial happiness, while a negative attitude can result in drifting or, even worse, veering off into financial disaster. The good news is you can control where you end up.

With a bit of work on your knowledge, habits, and attitude, you can significantly improve your wealth, health, and happiness.

This article will look at some practical tips that can help get you in the right money mindset.

Learn from the Past

We all make financial mistakes, but unfortunately, nothing can change it now. The key is to move on. Don’t let your past mistakes cause damage to the future. Do not feel defeated because of past mistakes, Do not give up or feel like it’s too late. Instead, forgive yourself for errors from the past and let them go. Determine that you’re going to change your future, leading to a powerful impact on your mindset and positive results in real life.

Focus on the Future

We are responsible for our finances. Take control of your finances without blaming the situation or giving excuses, and realize that no one else will have the same responsibility that you have for your finances. Part of taking control involves improving yourself. Do you need to pay off a debt or need a better job with good saving and investing plans? Ask and answer these questions yourself.

Find Motivation

Inspiration and motivation contribute a lot to this exercise—we advise you to surround yourself with positivity if you want to have an excellent financial mindset. One of the most healthy ways you can get motivated is the people you spend time with. Spend quality time with positive and uplifting people. Read encouraging quotes and statements from others or online.

Define Your Goals

Goals will give you a purpose and direction for managing your money. It is easy to lose focus and get distracted without any goal plan. Your goals should be defined, with a strict end date or deadline, and measurable.

Read more: How to Set Achievable Financial Goals


When you’re focused on something, it’s easy to get obsessed and try to cut back on everything. But you do need to cut back and live on the bare minimum. The key is to identify your priorities and determine what matters first. Once you know your preferences, cut back in other areas, but be willing to spend money on the most important things for you.

For example, clothes are unnecessary to you, so spend as little as possible. But travel and experiences with your family are more important, so you save to spend on things that matter the most to you and your family.

Read Frequently

Your level of financial literacy will impact your mindset. The more knowledge you gain, the more contended you will feel about managing your money. Fortunately, there are plenty of great resources to improve your understanding of any area of money. Check our other blogs to know the top 10 books to start with.

Read more: 10 Best Personal Finance Books For Financial Success

Don’t Expect Perfection

Even though you are just learning and improving your financial IQ, you will still make some mistakes. Unfortunately, mistakes are a part of life. Don’t expect yourself to be perfect all the time, and do not be so hard on yourself when you make a mistake.

Be Generous

If you want to improve your money mindset, make it a habit to give to others. There is nothing like sharing and being generous to help someone with money with a cause and feel good about what you will do with your money. Find reasons that are meaningful to you, and support them whenever you can.

Talk About Money

Talking about money management with friends and family can be helpful and should be done. Our advice is to find a few friends or family members you look up to and start talking with them about money. It is always healthy to have some people you trust and discuss things with.

Push Yourself Every Day

Achieving the financial goals that you aim for will not be easy, we understand. You can take the easy route, which leads to debt and ill financial health, but you’ll need to push yourself if you want something better. You need to get out of your comfort zone and be willing to make some sacrifices to get to where you wish to be.

Changing your mindset about money isn’t always easy, but it’s an essential part of improving your financial situation. Try following the above tips and see for yourself the impact it creates on your finances.

(Check out 'Learn & Grow with Wizely' 'to read and learn all about personal finance and financial planning.)

Sakshi Mehrotra

Sakshi Mehrotra