3 Mindsets That are Killing Your Personal Finances

As I sit here looking at the computer screen I draw a blank “what do I want to write about tonight” I think.

Nothing seems like a good choice. But I tell myself I should get started anyway. After all, the blog post won’t write itself. I’ve got it in my head that if I type the first few words the rest will come. And that’s how it usually goes.

While I’m having this internal dialogue I start to realize how much mindset relates to financial goals.

Here are three mindsets that might be killing your personal finances.

Failure to Launch Syndrome

The hardest part about accomplishing a goal is getting started.

I sat staring at blank computer screen, wanting it to immediately fill with words but I knew that if I got started I could build the momentum.

That’s how saving goes.

You start at zero and each paycheck you put in a little bit of money. And when you start to see those small deposits add up to something a bit more substantial, you’re motivated to keep going until you reach your goal.

If you can get over the failure to launch syndrome you can accomplish any financial goal you set.

Comparing Your Progress to Others

Another mindset that can really stagnate progress on your financial goals is comparing yourself to others.

There will always be people who earn more money, save more money, invest more money, and just seem more together than you. That’s not going to change.

Instead of getting upset over this fact you should use these people you admire as motivation to keep striving toward your goals. If they can do it, so can you.

The only comparison you need to make is you to you. Monitor your progress.

Keeping Up with the Joneses

Similar to comparing your financial progress to others is keeping up with joneses. Only this mindset is far more dangerous.

When you’re worried about appearances consumerism will take over and you’ll rack up unneeded debt. That doesn’t mean you have to avoid life’s luxuries, though. It just means you need to sort out your own priorities and focus on them – not on impressing others.

Are There More?

I’m sure there are plenty more money mindsets that could be holding you back from your financial goals. Maybe your weakness is always feeling broke or feeling financially uneducated.

Either way, if you commit to having the right money mindset you’ll be able to accomplish any goal you set.

What are some mental barriers you had to overcome?