Money mindset: how do you improve your money mindset?
How do I get a better money mindset? That's a question I've had and what to do about money blocks. Those two things are interesting, of course. First, I want to point out that you don't have a mindset, you do something. You think, which is a verb
We often talk about things that aren’t actually things, and that can be confusing. After all, a “mindset” isn’t a tangible thing, so how do you improve it? This might seem like nitpicking over language, but having or doing something is essential to changing the way you think.
So, what about that mental block—what do you think about money? You’ll get some interesting answers that you can actually use. You don’t have to let money hold you back either.
Therefore, I also often work with what is blocking in people to unblock it. To start doing something different.
What do you think about money?
First, this question is interesting to ponder. Many people think that money stinks, is evil, is diabolical, or that money makes you a terrible person. If you think things like that, it's pretty logical to have different values.
For example, you then think it is important to be a nice, sweet or kind person. If you then simultaneously think that money makes you a terrible person, then of course you're not going to make much money. After all, you do everything to be a nice and sweet person.
But if you think money can make you a sweeter or nicer person and you actually believe this, because then you have more to share. Then suddenly the money comes to you in bins. Because why not? It's all more fun then.
When money conflicts with what you care about, it doesn't work.
Imagine you have goals about the house you want to be able to live in, but on the other hand, you think being loyal to family is very important. Then, if your family would hate for you to live in such a villa with a pool, you have a conflict.
Then you can do three things. One is you can't buy the villa with a pool. The second is f*ck your family and stay true to your own values and the third is, for example, start thinking differently about what being loyal means.
You can also have conversations about this with your family to bring about change. If your family is truly important to you, you can do that. Perhaps you’ve never really talked about it with them properly, or only in passing, and as a result, you’ve unfairly come to believe that you shouldn’t get rich. A conversation like that can go a long way toward countering these kinds of unconscious beliefs that aren’t true.
So to that extent you can verify how you think about money?
What exactly is blocking?
When you look at something that blocks you, does it have to do with money? Often it is people who are afraid to charge more for their services or salary. They often don't see their own value then.
Then it has little to do with money, but they then find it very difficult to put money against a service.
Similarly, I am a Reiki master and I gave courses or sessions in that. Usually for 10 euros at most and then I went to 20 euros. I thought that was way too expensive and so I started having doubts about it. People then said that this energy is free and that I should give it away for free.
Then I also heard that grain grows for free. But then again, can we have free bread or something? Otherwise, give me the grain itself. No that couldn't either, because that also cost money.
Many people understand this, but then when it comes to your own value, what is it worth in euros? Then people often start looking first at what their time is worth. For example, by looking at an hourly rate.
I struggled with that, too.
Fortunately, I've come to realize that essentially it doesn't matter what you charge for it. What matters is what you think it's worth. Funnily enough, when you hesitate about this, people don't consider your time worth anything. Any amount of money is suddenly too much.
Whereas if you know for sure yourself that you are worth something, that you give a lot of value and that something produces a certain result and you just attach an amount to that, some people still say "Gee, what a lot of money," but those people say that with all amounts.
The nice thing is that the higher your amount, the less you hear that something costs a lot of money.
What's worth your time?
So look at yourself first. What do you consider yourself worth? Of course, it's hard to put a euro on your human worth.
Then you often look around at what everyone else is doing.
Often blocking has to do with a value you give yourself. So you can also say: what value am I giving?
An easy calculation is that at McDonalds in the 1980s, I got this from Jim Rohn, the minimum hourly wage was $4. That was then for frying hamburgers at McDonalds.
The highest income at the time was $80 million a year.
One was a hamburger baker at McDonalds and the other was the CEO at Walt Disney.
Now the minimum wage is something like $7/8 (or $15) an hour and the person who earns the most earns $1 billion a year. The latter is then boss of a hedge fund for the very rich. They pay him a billion dollars a year to get even richer.
If you look at the economic value those people provide (i.e., not as individuals), because baking hamburgers is something almost anyone can learn. That's why you only get minimum wage for it.
But what that man can do with his hedge fund, he has a skillset that very few people have. That one took years to get this to work in a particular field and niche.
Teenagers can't, they can learn, but then you're another 30 years away.
You can find all kinds of things here.
Because the value people provide to their environment can vary. The person who works at McDonalds may give a completely different value to his friends or family.
So there is a difference between economic value and personal value.
After all, it's a skillset that anyone can do just like that or that you really need to continue learning for.
On top of that, giving value to your time can cause you to become unhappier with how you spend your free time[1]. This is perhaps why it is so popular to have passive income or to charge a fixed price for a service, regardless of how much time you spend on it.
So in that respect, you can figure out what you give in terms of economic value. Because that takes care of the Euros, not that you also visit elderly people to play games. On the contrary, that gives you more karma points.
That just doesn't necessarily pay your rent.
When you talk about money, it's economic. If something is blocking, it has to do with your own value. What value are you adding? And what can you do to increase that value so that the blocking stops.
Because you are blocking in your self-esteem.
Be sure to listen to this podcast as well:
Taking risks for money
One thing you do when setting your hourly rate is take a risk. Taking risks is an important part of your money mindset. Research shows that when there’s money at stake, this can motivate people to take more risks, but that this more often leads to losses among men. This also shows that women tend to underestimate themselves more often, while men tend to overestimate themselves[2].
Improve money mindset and overcome blockages
As mentioned, your beliefs about money and what you consider important in life affect how you view money and what you can do to make money. If you have certain ideas but lack the courage to implement them, a hypnotherapist can help you still think about money in a helpful way and overcome those blockages.
Depending on the problem you have, it can be solved with simple techniques to just make you feel better about small things you can do to make money. If the problem is bigger then regression can help you figure out where a particular money blockage has arisen and then you can do something with that moment to remove the blockage.
You can find out how this works during a free online master class on hypnosis.
If you want to learn the techniques in detail, you can sign up for one of our training programs.
Sources:
[1] https://www.sciencedirect.com/science/article/abs/pii/S0022103111002897
[2] https://psycnet.apa.org/buy/2016-46136-001