Harness The Power of Your Money Mindset

Jan 24, 2024

Money is much more than a medium of exchange for goods and services.

Money reflects our personal values and the hard work we put into earning it. How we treat money, save it and spend it, is a reflection of our internal beliefs — our money mindset.

When it comes to money, we all have strongly held beliefs, whether or not we realize it. Many of these beliefs grew out of childhood and come from lessons we learned from our families or picked up through life experiences.

Why does mindset matter?

Because understanding our internal beliefs helps us make smarter financial decisions and avoid the behaviors that damage financial health.

So, how much do you know about your money mindset?

Answer the questions below to discover more about your money beliefs and unlock key insights about your mindset and the behaviors holding you back from achieving your financial goals.

  1. When was a time that I felt good about money? Why did I feel that way?
  2. When was a time that I felt guilty or negative about money? Why did I feel that way?
  3. What does success look like to me? How will I know when I get there?
  4. What am I grateful for in my life?

Financial Lesson – Your Mindset is the Key to Financial Health

What does the word “money” bring to mind? Are the associations positive or negative?

Beliefs about money are complicated. It’s a symbol of self-respect, love, freedom, control, power, self-worth, and much more.

Having a healthy relationship with money and using it to create success requires you to understand the beliefs and internal scripts driving your behavior. Trying to build strong financial habits without the right mindset is like driving down the highway with your emergency brake on.

As financial professionals at First Community Trust, we think about wealth in terms of the opportunities it offers and as a tool for good. But we’ve realized that everyone who walks into our offices doesn’t view money the same way. For some people, money is uncomfortable and something they’d rather not think about. Others tie wealth to their definitions of success and self-worth.

One mindset is not better than the other.

What’s important is understanding your own beliefs and identifying how they drive your decisions and your behavior. If you can recognize the negative aspects of your money mindset, you can manage your emotions and fears better—and you can recognize and start to change bad habits.

Identifying and changing negative behaviors associated with your mindset are key to making the best financial decisions. If you’re looking to understand how to shift your money mindset and improve it, the financial experts at First Community Trust are here to help – don’t hesitate to get in touch. One of the best services we can provide is that of a financial coach and accountability partner.



Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.