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How to Develop a Positive Money Mindset

Your money mindset is a powerful thing. What you think, feel and believe about money influences many aspects of your financial life. This includes how you spend, save, borrow and plan for the future.

A negative money mindset comes with stress, shame and worry. On the other hand, cultivating a positive money mindset can help you feel more confident and in control of your finances. It's an incredible feeling!

If you're ready to change your financial outlook, help is here. Follow these three steps to start building a better money mindset today:

#1: Focus on moving forward

First, it's important to understand everyone makes money mistakes, whether it's missing a credit card or bill payment, overspending or not meeting a savings goal. Just like any relationship, be sure to practice patience and forgiveness in your relationship with money! Give yourself grace for any past money missteps, then focus on moving forward.

#2: Adopt healthy money habits

A few small actions can make a big difference in improving your money mindset and financial outlook. It just takes a little practice! Try some of these tips:

  • ​Track your spending for 30 days to get a better idea of your spending habits. Try filling out Wright-Patt Credit Union's (WPCU) Monthly Spending Worksheet.
  • Evaluate your spending. Do your purchases match your priorities?
  • Look for expenses you can adjust, reduce or even eliminate.
  • Create a budget using WPCU's online Money Management tool. It's free and easy to use!
  • Automate payments using WPCU's Mobile and Online Bill Pay.
  • Set up multiple checking accounts to categorize your spending.
  • Set specific goals or targets for your spending.
  • Adjust your spending as needed to meet your goals.

#3: Learn a lot about your finances

Finally, one of the best ways to improve your money confidence is to boost your money knowledge. Not everything we need to know about money is taught in school, so it's essential to keep learning on the journey to financial flexibility and freedom.

At WPCU, we make it easier to learn about smart money management with our free helpful resources, including interactive learning modules, budgeting worksheets, Finances in Focus livestreams, workshops and webinars covering a variety of financial topics.

Start your journey to financial flexibility and freedom today!

Remember, building a better money mindset won't happen overnight. It's a way of life that requires small, consistent money habits. Keep up the hard work, and most importantly, stay positive!

For more money management and budgeting tips, check out our online Education Center. If you're not sure where to start, take our free FinHealth Check. Take two minutes and answer eight questions about your finances, you'll receive a few tips on where to focus first in your financial journey!