How Your Money Mindset Affects You and How To Change It

Money Mindset

January 19, 2024

My mission with this blog is to help you create a more abundant, joyful, and fulfilling life. As a financial professional, I combine the technical and emotional aspects of wealth building to help my clients. Whether you want a life of adventure or calm and peaceful stability, you need to become confident managing your money.







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You Can Change Your Money Mindset

Even if you don’t have the greatest money mindset right now, don’t worry! Your money mindset isn’t fixed for life. In this post, I’m going to cover how your money mindset affects you and how to change it. You’re not stuck with the money mindset that you currently have. In fact, you can change your mindset and release limiting beliefs so that you can become a powerful money manifester and a savvy saver and investor!

You Can Change Your Money Mindset
Don’t worry. You CAN change you’re money mindset. It’s not something your “stuck” with for life.

Changing your money mindset doesn’t have to be a long and laborious project.

Sometimes, it can happen quickly. The first step in changing your money mindset is the desire to change. 

From there, you need to identify your negative money beliefs and ask yourself if these beliefs are really true. Then, see if you can replace those beliefs with other, more positive beliefs.

What steps can I take to develop a healthier relationship with money?

While there isn’t a “magic pill” where you wake up after one week of working on your money mindset and suddenly find you have won the lottery, you will find it rewarding.

In just one week, you will become acutely aware of how frequently your negative money mindset surfaces in your daily life. This curiosity is like awakening to something that has always been there, which is truly exciting because it represents the first step in creating change.


1. Note every instance when your money mindset and negative thoughts surface in your daily routine. 

2. Write these down each day for a week.

3. At the week’s end, identify the most limiting negative thought and assess how much you believe it’s true.

4. Focus on this thought the following week. Seek evidence that contradicts it and note these positive instances daily.

5. After a week, reassess your belief in this negative thought. It will likely diminish; if not, more work may be needed. 

I have written a ton of articles about how to shift your money mindset and start manifesting your desires and dream life. So refer to those articles and make sure you grab my Manifesting Meditation below. You can explore more posts about manifesting on the blog.

Most negative thoughts are perceptions rather than absolute truths.

You’ll notice a shift by addressing them one day at a time. 

Education and consistency are essential, and curiosity is the starting point for any money mindset changes.

What steps can I take to develop a healthier relationship with money?
Changing your money mindset doesn’t have to be a long and laborious project.

Is it possible to change my money mindset if I’ve had it for years?

Absolutely. Changing a lifelong money mindset can significantly impact your life.

Money influences everything we do, and by first recognizing your limiting beliefs and then taking steps to alter your mindset, you can achieve financial freedom. Don’t worry. Even if you’ve had many limiting beliefs about money for years, it’s never too late to change!

What are the long-term effects of a negative money mindset on my financial health?

A negative money mindset can often lead to depression, loneliness, and anxiety.

This can create a vicious cycle, leading to overspending, avoiding financial responsibilities, and accruing more debt.

I recently wrote an article about the health impact of having a lack of mentality. You can read that article about money mindset and health HERE.

Quick Video: 3 Steps to Manifest Money (Or Anything Else)

You can use these three simple steps to manifest money or anything else! Make sure you click the subscribe button if you’re YouTube user so you get more of these videos in your feed.

Can a person’s money mindset impact their earning potential?

How you handle and discuss money is just the tip of the iceberg, representing your conscious mind.

However, what lies beneath the surface is more significant. It illustrates your self-perception and values. Underestimating the size and impact of your subconscious mind can significantly hinder your progress. You can change your life’s trajectory by delving beneath the surface and addressing these issues.

Can a person's money mindset impact their earning potential?
How you handle and discuss money is just the tip of the iceberg, representing your conscious mind.

Have you ever wondered why someone else earns more than you despite doing the same job?

We often find it easier to blame the “system” or others for not recognizing our value rather than looking inward and identifying what we do that limits our earning potential.


Imagine two employees at the same company.

Employee One

They work diligently, enjoy their job, and aim to advance within the company.

They believe money leads to financial freedom and that they deserve success. Confident in their abilities and potential, they possess an abundant mentality regarding money, meaning they believe there is more than enough for everyone.

Their confidence is understated, yet they know when to advocate for themselves. They understand that it’s their responsibility to demonstrate their value to management and to seek higher compensation and promotions.

Employee Two

A talented employee and the primary breadwinner in their family, they too aspire to progress within the company.

However, they were raised in an environment where the prevailing belief was that money would always be scarce. They harbour a “lack mentality” and subconsciously view money negatively, perceiving the pursuit of financial gain as selfish. 

They fear that earning more means depriving others, as they believe resources are finite. 

Concerned about appearing ostentatious and worried about others’ opinions, they never seek raises or promotions and shy away from risks like changing companies, asking for a raise, or starting a new venture. 

Who do you think earns more? 

While we can’t change others’ behaviours, we can influence our beliefs, directly impacting our earning potential.

A negative money mindset can often lead to depression, loneliness, and anxiety.
A negative money mindset can often lead to depression, loneliness, and anxiety.

How does a money mindset shape financial behaviours like spending, saving, and investing?

Your money mindset significantly influences your financial behaviours.

Spending: Often, people spend to fill voids such as loneliness or isolation. This may stem from a belief that life is unfair and a desire to live like others. This mindset can lead to further debt. Conversely, someone with ample resources might be too fearful to spend, worried they’ll never have enough.

Saving: A negative money mindset can make saving challenging. Setting aside money for the future can seem daunting if you’re preoccupied with self-pity and immediate expenses.

Investing: A positive attitude towards money and investing appreciates the value of compounding, especially with regular, long-term contributions. A fear-based mindset, however, can lead to constant market monitoring and anxiety. Investing should focus on long-term growth with quality companies rather than trying to time the market, akin to gambling.

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Related Articles

💎 How to Be Rich In Canada

💎 12 Money Blocks Even the Rich Have and How to Release Them

💎 How To Have an Abundance Mindset with Money

💎 How Money Mindset Impacts Health

About the Author

TIFFANY WOODFIELD is a financial coach, cross-border expert, and entrepreneur based out of Kelowna, BC. As a TEP and associate portfolio manager, Tiffany has extensive experience working with successful professionals who want to leave a legacy and enjoy an adventurous, work-optional lifestyle. Tiffany combines extensive knowledge from her background as a financial professional with coaching and her passion for personal development to help her clients create a unique path that allows them to live their fullest potential. Tiffany has been a regular contributor to Bloomberg TV and has been interviewed by national and international publications, including the Globe and Mail and Barron’s.