What do you think of money
Money Mindset - Why your thinking about money affects your bank balance
Have you ever wondered what your relationship is like with money? And how does this relationship affect your account balance?
Most people have a bad relationship with money, so they have a negative money mindset. Lo and behold, these very people either have debts, an empty account or not the amount of money they actually want. Because the head is lacking. They do not have a positive attitude and money is always an issue with them. In a negative sense. Of course, this does not apply to everyone, but in many cases it is worth taking a closer look.
What do you think about money
Here is a selection of sentences that are deeply anchored in many:
Money is bad.
Anyone who is rich is not a good person.
Money can not buy happiness.
Money doesn't grow on trees.
Money spoils character.
You do not talk about money.
Money is not easy to come by.
And how do you get money? You have to earn it, and really hard.
Well, did you catch yourself making a sentence? But why do most of them think so? Because the parents or other caregivers kept telling them in childhood, because there were formative experiences or because the environment (media, friends, acquaintances) is so ticking.
If your attitude towards money is negative, don't be surprised if that attitude is reflected in your bank balance. Because what you don't really want, you can't get either. Actually logical, right? Even if you now think: "No, why, I want money", you subconsciously defend yourself against it because you think that it is bad.
But what exactly is money? Money is primarily neutral. Printed paper. It's neither good nor bad. Only what is done with the money can be good or bad. So money is what you make of it.
So what is to be done now?
First of all you have to find out which beliefs you have about money and where they come from. And then you turn them into positive beliefs, which you then have to internalize in the last step. So you build a positive money mindset. This could take a while. Your negative beliefs did not arise overnight either.
If you don't know how to find out where your beliefs come from, try to remember some formative experiences from your childhood. See if this has anything to do with money. Maybe only at second glance. There are always certain experiences from childhood that are still very much present, whereas many other things have been forgotten or can hardly be remembered. And there must be a reason for remembering these experiences of all things. You may also have to think about it for several days, maybe a couple of weeks. Maybe it suddenly occurs to you when you are standing at the checkout in the supermarket. So don't force anything, you'll find out.
Another possibility is your environment. What are the attitudes of the people you interact with most? What would you say?
My negative beliefs
It also took me some time to find out what I think about money:
1. Rich people = bad people.
The second is probably because I grew up in East Berlin and there was no rich or poor there. But the “rich West” has always been badly done by everyone. My parents were against the government, so they wanted to go to the West (which they managed to do), but that had less to do with money and more to do with a desire for freedom.
I have also believed for a long time that rich people are bad because I assumed that they either earned their money illegally (for example, it is also portrayed this way in many films) or that they just waste it and get bigger and bigger cars, Buy yachts and whatever else and feel great doing it. Yes, there are people like that, but the money can't help it.
But there are also many rich people who do a lot of good with their money. For example, finance social or sustainable projects or donate to people in need. I now sometimes imagine being rich and then donating a lot of money to great projects or only buying sustainable products and organic food from the farmer next door, which are often a bit more expensive than the "normal" ones.
2. There is not enough money.
This belief came about through a formative experience and the years that followed. My parents, my two brothers and I left East Berlin for the West in May 1989. We were more likely to get kicked out, but that's another story. Initially, we found shelter in reception camps and they helped us, but only very tightly. I vividly remember one situation when I was sitting on the swing inside this storage area. I was nine years old then. It was dinner time and I was hungry. I asked my parents, who were standing by the swing, what would be for dinner. They answered me with: “Bread and butter.” Although that was so long ago, I still remember very well that I looked at them in disbelief and answered disappointed “Nothing more?”.
Until then, I didn't know that, because there was always enough of everything there, as far as one can say for the GDR at that time. But as a child in the GDR, I never had the feeling that I was missing anything. “We have no money for anything else,” they replied. And since then I've always worried that my parents didn't have enough money. Even when they successfully built a new life for themselves, we often went on vacation and I never lacked anything, I always tried to stay humble. I rarely wanted anything because I always thought that the money would otherwise not be enough.
I have another memory in my head when we were on vacation in Italy a year or two later and took a day trip to Venice. It was hot and my four-year-old brother was constantly thirsty and always wanted to drink a can of Fanta (drinking water was not "fashionable" back then), which was quite expensive in Venice at the time. I knew that my parents had a limited budget available for each day of their vacation (by the way, I still do that today) and I told my brother that he shouldn't drink so much Fanta, please, because it was too expensive. I had renounced it myself. And so it ran through my life. I could never get rid of this "worry about money" and I was never aware of it until I started working on my money mindset several years later.
There was something good about this belief, however, I can handle money very well, have never had debts, would never take out a loan, have never spent more than I have, have no unnecessary insurance and always have a good reserve for bad times on mine Account. I always have a good overview of all finances.
It's not that I've never spent or spent money or compulsively save. On the contrary, I used to spend a lot on clothes, now more on travel. As long as it is for me, I have something directly from it and I am not dependent on anyone else, I have no problem with it. But as soon as it comes to investments, for example in projects that would bring me further, or even about retirement provisions, for which I would have to commission or pay third parties, I am inhibited. I'm suspicious and worry that my money will be stolen from me and that there won't be enough left. In fact, I am one of those people who would rather hoard their money in an account, knowing full well that inflation will be relentless than I would invest it wisely. I would then no longer have any control and that is almost unbearable for me.
It sounds like I'm totally rich now, but that's not the case. I can only be very economical without any problems and do not throw my money out the window uncontrollably. It's more that I always had the feeling that I didn't have enough. Too little for bad times, too little for an emergency. Whatever the emergency. When it comes to money, I have lived in want.
Build positive relationship
But I've been working on it for 1-2 years. I try to build a positive relationship by imagining that I am living abundantly. That there is enough and that I can trust that there will always be enough. That if I invest it, it will come back to me. Two years ago I even quit my job for a trip around the world without knowing what would be next. And with the full knowledge that I won't have any money for a while. You can now imagine how hard it was for me. But of course there was more money, new doors opened for me. It will always go on, everything will always fall into place. But I had to learn this trust first.
Today I regularly donate small amounts to sustainable projects. You can always do that, even if you have little money. It actually helps build a positive relationship because it makes you feel good. I've also paid other people for their work, for example by buying online courses to further my education. So it is 🙂 Currently I am investing in ETFs for my retirement provision. That is also a huge step for me. But it is always better than letting it run dry in the account and let inflation diminish it. I'm still cautious and think carefully about what to invest my money in, but that's a good thing.
Funnily enough, it has often been the case that the amount I invested came back to me a few days later. In the form of unexpected monetary gifts, eBay classifieds sales, project offers or commission payments from affiliate programs that I have on my blog. And no joke, I've often found money on the streets. Of course money does not fall from the sky, you have to offer it ways so that it can come, so to speak. To do this, you could simply think of ten ways in which you could earn additional money. Even if it seems nonsensical to you, write it down! Perhaps you will discover one or the other possibility.
And work on your positive attitude! It doesn't work without it.
I wish you good luck!
PS: These books / people helped me to work on my money mindset:
Natascha Wegelin alias Miss Moneypenny(Blog, Podcast) + her book "Bali instead of Bochum - How every woman can get her ticket to financial independence"
Laura Malina Seiler (Blog, podcast, online course “Rise Up & Shine Uni) - Moneymindset is not your focus, but the topic is dealt with from time to time.
Book: A dog named Money* by Bodo Schäfer (Still on my list, but I've seen some YouTube videos by Bodo Schäfer. A guru in matters of finance. The book is actually a children's book, but it is highly praised and read by many, many adults. It is about Money, the talking Labrador who explains proven secrets about money to children and adults in an easy-to-understand way)
Book: Think and become rich* - from Napoleon Hill* (also available as short version*)
Book: Do not worry - live!* by Dale Carnegie (One of the best books ever in terms of general mindset.)
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