How to Change Your Money Mindset

Changing Your Money Mindset

When we hear the word relationship, we often think of it in terms of our connection to other people. We’re constantly striving to build healthy and positive relationships with our family, spouses, friends, and coworkers.

Many people don’t realize that they have a relationship with money, and sometimes it isn’t a healthy relationship! Financial wellness includes having a healthy relationship with money that makes us feel satisfied and not overly stressed out.

Have you ever given serious thought to your relationship with money? It’s important to consider how you feel about money and how money makes you feel.

Some key questions to consider when thinking about your money mindset are:

  • Do I have a history of making good financial decisions?
  • Where did I learn my money values from?
  • Am I impulsive with spending or do I save and budget?
  • Do you believe it is possible to achieve your financial goals?

In so many cases, how we feel about money influences us making major decisions that have long-lasting effects on our standard of living. Our standard of living can have a huge impact on our self-esteem.

Your money mindset is the attitude that you have about your finances, and it drives how you make key financial decisions. Your money mindset impacts how successful you are at getting out of debt and achieving your financial goals.

The way we feel about money can be influenced from an early age depending on the type of household you grew up in. When you change your money mindset to focus on the positives, you tend to make better choices about how to find solutions and overcome challenges.

As a Credit Counselor with Pelican State Credit Union, I’m regularly speaking with our members about their money mindset. Over time, I’ve noticed that we all feel differently when it comes to money.

Here are some of the ways you can view money to help change your money mindset:

Money is a Toolbox

Most of us are trying to use money to their advantage. We have a specific amount of tools at our disposal, and it’s up to us on how to use them.

Think of it like a tool in a toolbox. Each tool serves a specific purpose, much like our budgets, when separated correctly, are able to be used to our advantage.

You can only use some tools once. You can’t spend the same money twice, so make sure you’re using that tool for the purpose it’s supposed to serve!

Money is Security

Having money makes us all feel secure. Some of us lean toward the side of being avid savers.

One of our members told me about the impact it made on them the first time they saved $250. It was the largest amount they’d ever saved, and having the money there was a huge sigh of relief in case they needed it.

Thinking of money as your security shows you that it’s there to protect you in case times get bad. Nobody has ever complained about having extra money saved away for later!

When we’re following a simple, but classic, “Spend, Save, Share” budget like we teach our kids, we also realize the importance of having, so we share extra with those in need. This helps pass on security to others!

Money is Respect

We all know that money is necessary in our world. We need to use it to buy things that we need.

When you view it in a respectful way, it can make you feel empowered. You’re able to sustain yourself because you respect the purpose that money has.

When you respect something, it holds more value to you. By viewing money this way, you’re more likely to be a frugal person, which will help your spending habits.

In the end, you’re treating yourself with respect too!

Money is My Friend

While money is necessary and we respect it, think of it like a friendship. Your money is your dependable friend.

We all have that friend that we can call on when we need them. They’re there for us; they’re only one call away. By viewing our money like a friend, we are able to use it to take care of ourselves.

It will help increase your happiness by having it there to do the things you’re able to do. What a nice stress reliever!

Money is a Love-Hate Relationship

Sometimes money might feel like a love-hate relationship. We’ve all been there, haven’t we?

Sometimes we get in those spending spree moods, where we want to try to buy happiness. Then we hate when it’s gone.

It’ll make us happy, and then it’ll make us sad. One way to look at the love-hate relationship is by viewing it as a test of self-control.

We can take the mindset of the love-hate relationship and find ways to harness the power of self-control. While we might love to spend it, realizing the impact it’ll have on our emotions will cause us to stop before we swipe.

Do I really need this? Will this purchase only bring temporary happiness? Diving deep into why we spend can help us discover how we can stop!

Everyone has a money mindset, whether we are conscience of it or not. And, since we all come in contact with money on a daily basis, we would be wise to nurture a healthy, lasting relationship with it.

Trying to figure out your money mindset?

We’re here to help you create a more positive money mindset! Our Nationally Certified Credit Counselors can help you create a plan that will ensure a successful financial future for you and your family.

If you would like to speak with a Pelican Nationally Certified Credit Counselor, please contact us at 1-800-351-4877 or visit

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Outstanding article!

Pelican State Credit Union

We’re so glad you enjoyed it, Katherine!