Money Mindset

MONEY MINDSET

If you’ve been browsing finance information for a while, you’ve probably run across the term “money mindset.” And while it might seem like just another buzzword to sell consumers on coaching services, understanding your money mindset is essential to fulfilling your long term goals.

When we talk about money mindset, we mean just that: how you think about and respond to money matters. For example, someone who has a scrape-and-save mentality is probably willing to work long and hard for every cent and doesn’t splurge on big expenses. Others might have more of a means-to-an-end mentality where they really only earn money in order to fulfill dreams, but care less about saving. And those two people are going to handle financial decisions very differently and have very different challenges too.

There are tons of different money mindsets, and knowing yours can help you plan more effectively, set realistic goals, and make necessary changes to improve your life. If you want to change a money habit, for example, you need to know where you’re starting from and which of your current money habits might stand in your way.

Ready to learn more about money mindsets? Check out our featured articles below! Or take the Tablecloth Finance Money Mindset Quiz to understand more about your financial habits.