11 Ways To Develop A Positive Financial Mindset

By Zach Buchenau

Last Updated: October 26, 2023

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If you want to achieve financial success and build a secure future, you need to develop a positive financial mindset. 

But let’s be honest, that’s a little easier said than done.

In a world where financial stress, anxiety, and fear are all too common, developing financial positivity can feel like a Herculean task.

But what if it isn’t as hard as it seems? 

Here are 11 actionable, effective, and useful tips to help you develop a positive financial mindset.

Write Down Your Financial Fears, And Assess Their Validity

Everyone has financial fears at some point in their life. 

Yet very few people take the time to confront their fears and evaluate how valid they are. 

Start by making a list of all your financial fears or anxieties. 

These might include concerns like not having enough money for retirement, being unable to pay off debt, or not being able to afford essential expenses. 

Be honest and don’t hold back when you’re creating this list.

Next, assess the validity of these fears. 

Ask yourself whether they are based on facts or assumptions. 

Are these fears rooted in reality, or are they merely a product of your own negative thinking? 

Consider if there are any concrete steps you can take to address these concerns. 

For example, if you fear not having enough money for retirement, you could begin researching your retirement options and create a strategy for saving faster.

Overcoming your financial fears may not happen overnight, but this process will put you on the path to a healthier financial mindset. 

By confronting your fears, assessing their validity, and creating a plan to overcome them, you’ll put yourself back in the driver’s seat of your financial life. 

And once you experience that dose of financial control, you’ll have a much easier time approaching your finances from a position of authority, confidence, and positivity.

Reduce The Financial Complexity In Your Life

The more complex your finances become, the messier things can get. And when things get messy, it’s easy to start feeling overwhelmed, anxious, and negative.

On the flip side, financial simplicity (in my experience) almost always leads to greater financial peace of mind.

So, what can you do to reduce the financial complexity in your life?

Isolate Your Savings

By isolating your savings into a separate account–preferably at a different bank than your checking account–you can better control your spending habits and avoid dipping into funds meant for future goals. 

This makes it easier to track your progress, achieve your savings goals faster, and stay motivated along the way.

Pay Off Debt

Debt can be a huge source of financial stress, which, in turn, can stifle your positivity.

Thus, it’s essential to create a plan to pay off your debt as quickly as possible. 

As you eliminate debt and, thus, increase your monthly margin, you’ll find it easier to manage your money and develop a more positive outlook on your financial situation.

Spend Money From One Account

Using multiple bank accounts or credit cards for spending can lead to disorganization and difficulty in tracking your finances. 

To simplify your financial life, pick one account for all your spending. 

This will make it easier to monitor your transactions, control your budget, and maintain a positive financial mindset.

After all, the more accounts you have to keep track of, the more time and focus it will take to keep your finances in order. And when your finances are disorganized, it’s easy to end up stressed, anxious, and fearful about your financial future–all of which will wreak havoc on your positive financial mindset.

Eliminate Unnecessary Expenses

The fewer expenses you have, the less complex your finances will be. 

With that in mind, take some time to review your spending and ask yourself if each expense is essential or not. 

For expenses that are not essential, consider cutting them from your budget. 

By doing so, you ‘ll free up more money for savings, investments, or paying off debt, which will further reduce your financial complexity.

Reduce Your Time On Social Media

Social media can drain your positivity, productivity, and personal confidence like nothing else.

Constantly exposing yourself to other people’s lifestyles and irresponsible spending choices can make you feel inadequate or pressured to keep up. 

So, how do you combat it?

Simple. Reduce your time on social media.

First, set specific time limits for social media apps. Most smartphones have built-in features that help you track and limit your screen time.

Utilize these features to set a daily or weekly limit. When you allocate a specific time for browsing, you become more conscious of how it fits into your overall schedule.

Next, when you are on social meda, shift your focus to content that adds value to your life, skills, and mindset.

For example, you can seek out information on personal finance, leadership, entrepreneurship, career advancement, investing, and saving strategies from reputable sources and individuals. 

On the flip side, unfollow or mute accounts that trigger negative thoughts or comparisons. 

Finally, replace your scrolling time with activities like reading, exercising, or learning valuable skills. These habits not only improve your overall happiness, but they also support the development of a healthier financial mindset.

Remember, while social media can be a beneficial tool for networking and staying informed, moderation is key. 

By limiting your usage and consciously curating your online environment, you’ll have a much easier time cultivating a positive financial mindset.

Spend Time With Positive Influences And Mentors

The people you interact with regularly can impact your thoughts and behavior, so it’s important to choose them wisely.

With that in mind, seek out friends, family members, or colleagues who display good financial habits and are willing to share their experiences and knowledge. 

Having a mentor can be especially beneficial in improving your financial mindset. They can provide guidance, support, and motivation, while also holding you accountable for your decisions. 

A mentor can be anyone from a family member to a professional coach whose advice and experiences you can learn from.

Engage in conversations with your positive influences and mentors about financial goals, strategies, and challenges. Also, be open to receiving their suggestions and feedback. 

This will not only broaden your perspective but also strengthen your financial acumen.

Commit To A Well-Defined Budget

Living on a well-defined budget is one of the best ways to gain control, confidence, and authority in your financial life. 


Because it puts you in control of your money and holds you accountable to your future goals.

Plus, the more disciplined you are with your budget, the faster your financial situation will improve. And as you start to experience financial momentum, it’ll be hard not to look forward with a more positive mindset.

By committing to a well-defined budget, you take the reigns in your finances and set yourself up for long-term financial success.

Chase Bigger Goals That Actually Inspire You

Your goals should be more than just numbers; they should have a deeper meaning and purpose that inspire you to chase after them. 

Additionally, they should require you to step out of your comfort zone and stretch your abilities.

Now, I’m all for setting realistic goals. But realistic and easy aren’t the same thing.

For instance, if it’s realistic for you to save $1,000 per month, then why not set your savings goal at $1,250 per month?

Sure, you might have to cut a few extra expenses or start a side hustle to save that extra $250 each month, but you’ll learn valuable lessons and gain confidence along the way. 

Who knows? You might just start a side hustle that earns significantly more than that!

To achieve bigger goals, you have to step further outside your comfort zone, which will open you up to all kinds of wonderful opportunities and growth. 

And as you achieve bigger and more inspiring things, your self-confidence, attitude, and mindset will naturally improve.

Be Different And Persistent

Going against the grain and forging your own path can have a profound impact on your financial mindset. 

When you choose to be different and deviate from the crowd, you break free from the limitations and conventional thinking that may hinder your financial growth.

Moreover, going your own way helps you resist the pressure to conform to societal norms and expectations. 

Being different in your financial approach empowers you to challenge the status quo, think outside the box, and discover opportunities that can significantly improve your financial well-being–and mindset.

Start Your Own Business

Starting a business encourages a growth mindset, as it requires constant learning, adaptability, and problem-solving. This mindset spills over into other areas of your financial life, enabling you to embrace challenges, take calculated risks, and seek opportunities for growth.

Additionally, owning a business provides the flexibility to create a schedule that suits your lifestyle. This freedom allows for a better work-life balance, increased time with loved ones, and the pursuit of personal passions alongside financial success.

While entrepreneurship comes with risks and challenges, but it also opens doors to unparalleled fulfillment, financial rewards, and personal growth.

Stop Taking Advice From People That Haven’t Achieved The Things You’re Trying To Achieve

When it comes to developing a positive financial mindset, it’s essential to surround yourself with individuals who share similar goals and values. It means distancing yourself from those who have not achieved what you’re aiming to achieve. 

Instead, seek guidance from top-performers.

By connecting with these individuals, you can learn from their experiences, gain valuable insights and adopt a similar approach.

As you start filtering out advice from people who haven’t achieved your desired success, it’s equally important to stay open-minded and avoid becoming overly critical. 

Remember, it’s not about disregarding others’ opinions entirely or being hostile toward them; it’s about acknowledging the relevance and credibility of the advice you receive. 

To maintain a balanced perspective, be respectful and listen, but always take a step back to analyze the advice, its context, and its source.

In addition to surrounding yourself with successful people, you can also seek expert advice. 

Reach out to professionals in the finance industry, like financial planners, accountants, or wealth managers, who can provide tailored guidance based on your unique goals and resources. 

Engaging with these experts can help you devise a solid financial strategy and give you the confidence to make informed decisions.

Always Play Offense In Your Mind

Rather than playing defense and being reactive to circumstances, playing offense involves being proactive, strategic, and forward-thinking in your financial decisions.

To always be playing offense in your mind, start by setting clear financial goals. Define what you want to achieve and create a plan to reach those goals. 

Additionally, embrace a mindset of abundance rather than scarcity. Believe that there are ample opportunities for financial growth and success, and that you have the ability to seize them. This positive mindset enables you to recognize and capitalize on opportunities that come your way.

Serve Others

Dedicating your time and energy to helping others will naturally help you cultivate a sense of gratitude, empathy, and fulfillment that extends beyond monetary wealth.

Serving others shifts your focus away from solely pursuing personal financial gain. 

It reminds you of the importance of making a positive impact in the lives of others and contributing to the greater good. This shift in perspective can lead to a more balanced and holistic approach to wealth, where financial success is intertwined with making a difference in the world.

Additionally, serving others allows you to develop valuable skills, broaden your network, and gain new perspectives. 

Volunteering or engaging in acts of service can provide opportunities to learn and grow, enhancing your personal and professional development. 

These experiences can lead to unexpected connections and open doors to new career opportunities or entrepreneurial ventures.

Furthermore, by serving someone else, you create a ripple effect of goodwill and positive energy. 

Bottom Line

Dedicating time and focus to improving your financial mindset is of utmost importance. 

It sets the foundation for achieving financial success, cultivating a positive relationship with money, and attaining a sense of fulfillment. 

By consciously shaping your mindset, embracing proactive strategies, and adopting empowering beliefs, you unlock your potential to make wise financial decisions, pursue greater opportunities, and overcome challenges. 

Ultimately, a proactive and positive financial mindset is the most powerful and valuable tool you can own. And the more time you spend honing, sharpening, and improving the way you use it, the better off you’ll be. 

Zach Buchenau

About The Author:

Zach Buchenau is a self-proclaimed personal finance nerd. When he isn't writing about budgeting, getting out of debt, making extra money, and living a frugal life, you can find him building furniture, fly fishing, or developing websites. He is the co-founder of BeTheBudget, and Chipotle's most loyal customer.

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