Does Mindset Matter for Your Money?

If you asked me this question “does mindset matter?” ten years ago, I would have probably said no, mindset doesn’t matter. It’s all about action. Choices and action are what counts. 

Today, though, I know better, because we act on what we believe. 

Henry Ford is known for saying “if you think you can or you think you can’t, you’re right.” In this quote he cleverly explained the power of mindset. Every one of our actions is tied to a belief– and not necessarily a conscious one. 

We all have beliefs, but then beneath the surface of our stated beliefs are what we really, actually believe to be true. For example, you might say you believe in the power of prayer. This might be true, but how much do you pray? What do you pray about? Do you pray like someone who believes in the power of prayer? Actions reveal beliefs. 

What do you believe about money? Do you believe that security comes from having a lot of it? Do you believe that more will make you happier? Do you believe that debt is an unavoidable way of life? Do you believe that wealth is evil and poverty is noble? Do you believe that you have the ability to increase your income or that you’ve maxed out your potential? Do you believe it’s possible to be from financial stress?

Exploring your beliefs about money– not only what you think intellectually but the deeply ingrained unspoken beliefs that drive your thought process– is an important part of coaching because we don’t make choices based on knowledge but by what we believe. 

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