Most people think building wealth is all about working harder or saving more. But here’s the truth: It starts with the way you think about money. Having the right mindset about money can help you make smarter choices, grow your income and reach financial independence faster.
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Keep reading as we’ll walk you through five money mindset hacks that are going to help you build wealth faster than you might have thought was possible.
Hack No. 1: Reframe Your Beliefs About Money
Many of us develop our attitudes toward money based on our upbringing. We heard our parents using phrases like “money doesn’t grow on trees” or “money is the root of all evil.” The problem is that these shape our beliefs about money from an early age. These beliefs can lead to self-sabotaging behaviors.
If this is what you grew up hearing, you need to reframe your beliefs about money. Instead of having a limiting mindset, adopt a more positive outlook. Swap out the beliefs you grew up listening to with positive statements like “Money is a tool that gives me freedom,” or “I have the ability to grow wealth.”
For many people, this will be easier said than done. To help, start a journal where you can document your money beliefs. Which ones do you think are holding you back? Take those and turn them into affirmations you can look back on daily.
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Hack No. 2: Automate Your Wealth-Building Habits
Most of us lead busy lives. Between work, family and everything in between, time is a commodity. That’s why automating our finances as much as possible not only helps lighten our to-do list but also allows us to steadily work toward our money goals with minimal effort.
Set up automatic transfers to your savings and investment accounts on payday. This way, you never see the money, which means it won’t be missed. Additionally, set up each of your bills to be paid automatically. This will help you avoid missed payments and late fees.
Hack No. 3: Surround Yourself with Money-Positive Influences
The people you spend time with shape your mindset. If friends constantly complain about being broke or mock wealthy people, that negativity seeps into your thinking. Instead, surround yourself with people who encourage investing, learning and smart money habits. Doing this will help you naturally adopt those behaviors.
You can also look for financially positive influences in your life. It could be podcasts, books, mentors, or communities focused on growth. Even small changes in your life can help rewire your beliefs.
Hack No. 4: Practice Gratitude and Visualization
Gratitude helps you shift focus from what you lack to what you already have. This can reduce financial stress and boost confidence.
Go back to that journal you started earlier. Write down three things you’re financially grateful for. It could be a steady income, paid-off debt or skills you can monetize. Being grateful for what you already have can have a significant impact on your financial mindset.
Now visualize what you see for your future. Maybe you want your future self to confidently invest in the stock market, own a home or run a successful business. When your brain visualizes that future, it becomes more likely to guide your actions today toward making it a reality.
Hack No. 5: Focus on Value, Not Just Money
When you have a scarcity mindset, you’re more likely to focus on cutting expenses. However, true wealth is built by seeking value. Ask yourself, “how can I increase my income by providing more value?”
Maybe it’s starting a side hustle or learning a new skill that can lead to a promotion at work. When you shift from a mentality of spending less to earning more, you’ll be able to create more wealth.
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This article originally appeared on GOBankingRates.com: 5 Money Mindset Hacks That Help You Build Wealth Faster
