• A wealth mentality helps you see opportunities and focus on reaching your goals with the resources you have.
• Building a wealth mentality involves studying financial literacy, analyzing your beliefs around money, setting big goals, and allowing yourself to pivot rather than collapse when something unexpected happens with your cash flow.

A wealth mindset can help you see economic opportunities and encourage you to keep working toward financial stability when life throws you curveballs. Let’s explore what constitutes a wealth mentality and how you can build one this year.

Wealth Mindset vs. Scarcity Mindset

When you go through life with a scarcity mindset, you believe resources are limited and that you will always struggle to have enough. 

It’s hard to build wealth when you’re building from nothing, but it’s much less likely to happen if you’re operating with a lack mindset. 

It’s important to focus on what you can to create a wealth mentality. This is a mindset of abundance. When you believe you can find the resources you need, you’re more likely to pursue big goals that can improve your future.

How To Set a Wealth Mentality Mindset

Reprogramming yourself from a scarcity mindset to a wealth or abundance mindset can seem daunting, but it is worth it. Here is how you can get started today.

Boost Your Financial Literacy

Whatever your money mindset is, you will have difficulty striving for wealth if you don’t know how money works. Educate yourself on things like credit, investing, and taxes so that you can make the most of the wealth you have in your life.

If you need help, remember that Payactiv members can get free, 1:1 financial coaching with a KOFE counselor.

Investigate Your Money Beliefs

Rebuilding your money mindset is part math, part counseling. With the help of a financial counseling or self-guided financial journal, you can investigate the events that shaped your views on money in your early life.

Once you recognize your recurring thoughts and feelings around money, you can actively work towards building more beneficial ones. 

Set Ambitious Goals for Yourself

When you have a scarcity mindset, all you can see is what you can’t do or must do to survive, even if it only serves short-term goals rather than long-term financial security. A wealth mindset helps you see all the things that are possible.

When you allow yourself to set audacious goals, you open up a new world of opportunities. Whether you’re setting saving goals or maxing out your retirement account, a wealth mindset can make it easier to act in ways that will help you build a better tomorrow. 

Don’t Let Road Bumps Throw You Off Course

Even if you’re wealthy, life doesn’t always go according to plan. When you’re starting from a place where you don’t have generational wealth, it can be easy to let detours discourage you from moving forward. 

Pivoting when the unexpected happens is as big of a part of building wealth as the dollars and cents. Also, as you build more financial security, things should get easier.

When you have six months’ worth of savings built up, those $500 emergencies won’t be nearly as anxiety-inducing. You can get there, even if it takes longer than originally planned.

The Final Word

It’s challenging to switch from a scarcity mindset to a mentality of wealth, but it’s worth pursuing. With some self-reflection, self-confidence, financial education, and the help of the Payactiv app, you can turn your money attitude around and reach exciting financial wellness goals.

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