I must admit that this doesn’t come natural to me! But, ultimately to achieve Financial Growth you have to have the Right Mindset!
What is the Right Mindset? (you ask.) It’s the mindset that is going to serve you rather than hold you back when you want to “get ahead”, be it financially or personally or even professionally. (Like “if you believe it you can do it” kind of thing!) So let’s see what’s the difference between a Fixed and a Growth mindset.
A Fixed Mindset is the mind that doubts its capability of growth or change. It believes it’s intelligence and capability of growth is finite and there’s nothing it can do about it.
A Growth Mindset is the mind that believes it is capable of achieving anything through hard work and discipline.
They are both very common. But a fixed mindset person is going to have a hard time changing because she really believes she’s not capable of. She believes effort is for the “not so smart” ones. A person who has a fixed mindset hates risk. This person believes all her abilities are fixed, you either were born with it or you weren’t, kind of thing.
A person with a growth mindset believes she can improve her intelligence and capabilities through study and practise. She’s aware that if they don’t know something, it’s a temporary situation, because they can go and learn that thing.
What does this have to do with money? Well, if you are a fixed mindset kind of person, you believe that if you are not good with money you will never be. But if you have a growth mindset you believe that you can improve your financial skills through learning and practising.
So my question to you is, what type are you?
This is why I always say, your financial situation isn’t a math problem (not only, anyway!) it’s a mindset problem. You either believe you can and you do it or you believe you can’t…
Hope this has given you something to think about!
S-The Sparkling Budgeteer
