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Changing your money mindset
Episode 10827th March 2022 • I Hate Numbers • I Hate Numbers
00:00:00 00:06:30

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Money is one of the most important things in our lives, but it's also one of the most misunderstood. We often think of money in terms of how much we have, and how we can get more of it. But what if we thought of money differently? What if we approached it as a tool to help us achieve our goals? In this podcast, I'll explore why Changing your money mindset can get you to start using money to your advantage.

At its core, money is simply a tool. It's a way to exchange value and achieve goals. But too often, people view money as an end goal in and of itself. This can lead to all sorts of problems, including debt, stress, and even depression. If you want to be successful with your finances, it's important to change your money mindset and start viewing money as a means to an end. With the right attitude, you can use money to improve your life instead of letting it control you. So how do you go about changing your money mindset? It starts with understanding what money really is and realizing that you have the power to create your own financial destiny. Once you make this shift in thinking, you'll be on the

If you want to change your financial situation, you need to change your mindset about money. Too often, we think of money as something that's scarce, when in reality it's plentiful if we manage it correctly. By changing your mindset, you can start making smarter decisions with your finances and begin to build wealth. Here are a few tips on how to change your money mindset and improve your financial future!

Conclusion

So, what have we learned? Your mind has a lot to do with your personal finances. The way you think about money consciously and subconsciously has a big impact on how you deal with your personal finance. In next week's episode, we're going to talk about some ways to change your money mindset and start getting ahead financially. But for now, I want to hear from you. What did you think of this video? Did it open your eyes to something new? Leave me a comment below and let me know. And don't forget to subscribe so you don't miss an episode. I'll see you next week.

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Transcripts

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Did you know that the way you think about money affects how you spent, save and overall, how you handle your personal finances? Too many of us assume that we are either born with that silver spoon in their mouth or not. There's no in between, but that's just not the case. Your mind can determine how you handle your finances both consciously and subconsciously. In this podcast, I'm going to show you how you can change your money mindset so you too can get the most out of your personal finances. I'm going to be looking at what money mindset is, where money mindset comes from, why it's so important to your personal finances, and how your money mindset affects your personal budget.

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You're listening to the I Hate Numbers podcast with Mahmood Reza. The I Hate Numbers podcast mission is to help your business survive and thrive by you better understanding and connecting with your numbers. Number love and care is what it's about. Tune in every week. Now, here's your host, Mahmood Reza.

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Hi, folks. Welcome to another weekly episode of I Hate Numbers. The podcast that’s got a mission to improve your money mindset to increase your financial awareness, to help you and your business make more money, save tax. What's not to love about that? Let's crack on with the podcast. Let's firstly look at what is money mindset. Now, your money mindset is what you think about money. If you aren't sure what yours is, stop. Ponder, reflect. Think about money. What comes to mind immediately? You may want to find a nice, comfortable place to sit, grab a sheet of paper and doodle some thoughts.

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Do you think positively about money? That it flows freely to you? Do you think that you never have enough money? Or maybe you're paired with money? These thoughts shape your money mindset and control how you manage your money. Let's look at where your money mindset comes from. Your money mindset comes from many sources. It starts with your parents and your upbringing when it comes to money. But that's not the only place. Think about when you were little and growing up and how your parents handled money. Was it a secretive thing that they hear from you? Or were you around when they had conversations about their finances?

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Did they teach you about money? How to say and even let you spend money? Or do they always have that scarcity mindset making you feel there was never enough money? Next, think about your experiences with money throughout your life. Have you had steady jobs? Have you always had money coming in? Or have you struggled to keep jobs and an income? Have you always come into money from inheritance, from gifts or other sources? Or does it always feel like you never have enough money? All of your experiences with money throughout your lifetime form your money mindset.

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But that doesn't mean it can't be changed. If you've discovered that your money mindset is one of negativity and impossibility, it's time to change it. I came from a family of nine. Money was not planned for. Far from it there. That did not necessarily stop me and my family doing what we could to improve our money mindset and make sure that we could afford a future for ourselves. Let's talk about why it's important to your personal finances. Your money mindset is important to your personal finances because it determines how you save, spend and handle money.

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If you focus on the negative, you going to wallow in pain. Let's say you've got a lot of credit card debt. If you've got a negative mindset, you think you'll never get out of that debt and you're in an official spiral. And guess what? You won't. If you have a positive mindset and know you can do whatever you put your mind to, you'll more than likely find a way out of the debt. It may not happen overnight. Nobody's saying that the debt will disappear. It will happen eventually. Because you've set your mind. You’ve set your course on a positive affirmation to do what it takes to get there.

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Let's conclude now by looking at how your money mindset affects that wonderful B word your personal budget. Your money mindset is also important to your personal budget. If you believe in yourself and your ability to make smart financial decisions, you'll have a budget that works for you, not against you. In your budget, you'll have line of items for saving, spending and even paying your bills. You won't leave any money topic untouched and your budget will work for you rather than against you. When you've got a good money mindset, you don't mind budgeting because you know it's the best way to sell your money, where to go and ensure you reach your personal financial goals.

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If you've got a negative money mindset, you'll feel you'll never have enough money and won't make sure you save money for future goals, for treats, for luxuries. You have a scarcity mindset leaving yourself in debt and being unable to think about your financial future. And we don't want that for you. Now, no matter what your money mindset is right now, you can change it for the better. If you find that you don't handle money well, you don't save money or you just don't know how to budget, there are ways that you can change your money mindset. And that's all going to be covered in next week's podcast on I Hate Numbers. Folks, let's summarise what we've got money mindset. What it is, it's what you think about money, where your money mindset comes from, and it comes from a variety of sources.

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But where it comes from doesn't necessarily mean that you can't change. Why it's so important? Because it fashions and shapes how you save, spend and handle money. And it has a big impact on your personal budget. Instead of seeing your budget as a straitjacket, it's a route map. It's a plan, it's a task going forward as to how you are going to spend your money on a variety of things, folks. I hope you got some value and benefit from this podcast. If you have, I'd love it if you could share that with those who benefit. Put yourself to that money mindset and think about yourself. What do you think your money mindset is? Is it negative? Is it positive? Or is it somewhere in between? Until next week folks, happy money mindset.

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We hope you enjoyed this episode and appreciate you taking the time to listen to the show. We hope you got some value. If you did, then we'd love it if you shared the episode. We look forward to you joining us next week for another I Hate Numbers episode.

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