Top Tips for Changing Your Money Mindset ...

1. You do Have a Measure of Control

If you want to change your mindset about money, understand that you do have some control over your finances. Understandably, you might not earn a lot of money, and you might have difficulty getting out of debt, but if you take steps to improve your financial state, you can gradually fix your money situation. The worst thing you can do is make excuses or believe that your efforts won't make a difference. This can become a self-fulfilling prophecy where you get what you expect.

2. You Don't Have to Improve Your Lifestyle

I'm not sure who made this rule, but many people believe that they have to improve their lifestyle with each pay raise. Rather than being content with what they have, they buy bigger homes and get more expensive cars, and slide deeper into debt. Just because everyone else upgrades their life and accumulates a lot of material possessions, it doesn't mean you have to.

3. Patience Pays off

Patience isn't one of my strongest virtues, therefore, I understand the tendency to buy what you want when you want it. If you don't have patience, you're more likely to pull out your credit card when you want to buy something. Since this can trigger debt, you're better off learning patience and saving up for purchases.

4. There Are Safe Risks

Are you afraid to dabble in the stock market? Well, you're not alone. But if you rely on your regular savings account, you won’t take your savings to the next level. There are, however, safe investments. For example, you can deposit your cash into a certificate of deposit or a money market account and earn a higher yield.

5. Look at the Big Picture

Maybe you're not where you want to be financially, but even if you haven’t reached all your financial milestones, you're probably better off than some people. For example, you might not have an eight-month emergency cash fund, but you might have zero credit card debt. Rather than focus on what you don't have, focus on your accomplishments thus far.

6. You’re Your Biggest Enemy

If you want to pay off debt or save up to buy a house, stop making excuses. At the end of the day, you might be your biggest enemy. Some people constantly tell themselves that they can't do something, and as a result, they don't even try. Your money isn't going to improve itself. Get serious and make decisions that can better your future.

7. Don’t Let Others Pollute Your Thinking

If you're frugal and would rather save your money than spend it, don't let others change your mindset. Good money habits are hard to come by. And since many adults don't learn good money management skills until they're much older, you should be proud of your responsible money habits. Don't let others sway you into bad decisions.

You might not be able to change your mindset about money in one day, but with practice, you can adopt better habits and make smarter choices. What are other ways to change your mindset about money?