{"id":13085,"date":"2023-05-24T08:24:26","date_gmt":"2023-05-24T12:24:26","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/how-to-develop-a-positive-financial-mindset\/"},"modified":"2023-05-24T08:24:28","modified_gmt":"2023-05-24T12:24:28","slug":"how-to-develop-a-positive-financial-mindset","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13085","title":{"rendered":"How To Develop A Positive Financial Mindset"},"content":{"rendered":"<div>\n<p>For the past year, I have been following the work of Dr. Joe Dispenza. Dispenza, who goes by \u201cDr. Joe,\u201d is a Doctor of Chiropractic, as well as a researcher, lecturer, author, and corporate consultant. His post graduate training includes the fields of neuroscience and neuroplasticity. Much of his work centers on helping people make measurable changes in their lives by understanding how manifestation, meditation and positive thoughts can alter brain chemistry. Much of his work centers on believing in what\u2019s possible. According to Dr. Joe, \u201cWhen we stop doubting, we start believing in our new life. We behave as if it\u2019s possible \u2013 and we ultimately become it.\u201d In other words, you are what you think.<\/p>\n<p>So often we get in a rhythm of what we think we should do versus what creates harmony in our lives. We allow fear and negativity to creep into our consciousness, which limits our potential. I agree with Dr. Joe that each of us has unlimited potential, which doesn\u2019t end when we reach a specific age or attain a certain level of career or financial success. However, potential can be cut short by negativity. The more you entertain negative thoughts, the more negativity you will feel and invite into your life. Fortunately, the reverse also holds true. The more we approach life with a positive mindset, the more we\u2019re able to unleash the unlimited potential that lies within each of us.<\/p>\n<p>A positive mindset is also critical for attracting and building wealth. How you feel about money can influence whether or not you actually achieve some of your goals. For example, if you give up on saving because you think you\u2019ll never have enough to retire, that will become a self-fulfilling prophecy. Fear, negativity and greed can also lead to poor outcomes, such as trying to time the markets or making decisions based on what others are doing (herd mentality). On the other hand, positive thoughts and behaviors can help you course correct and go after your goals. That\u2019s because when you change your mindset, you tend to make better decisions that are aligned with your goals.<\/p>\n<p>Developing a positive money mindset begins with a commitment to:<\/p>\n<ul>\n<li><strong>Forgive past mistakes<\/strong>. We all make mistakes, but hanging on to regret is counterproductive. Let\u2019s say you previously lost money in the stock market. It\u2019s important that you don\u2019t allow that experience to prevent you from pursuing the potential opportunities that equity investing offers for building wealth over time. Instead, take the time to understand why you lost money. Did you try to time the market, get spooked and sell as the market was falling, or invest based on a tip from a friend or relative? Whatever the circumstances, it\u2019s likely that your investment decisions were not aligned with your goals, risk tolerance and timeframe. When your strategy is aligned with your goals, you\u2019re in a much better position to avoid common pitfalls and ride out changing conditions over time.<\/li>\n<li><strong>Make a plan.<\/strong> Every financial decision you make should be based on the things you value and most want to accomplish in life. That\u2019s why goal setting is such an important part of the financial planning process. Goals provide direction, purpose, clarity and motivation. Your plan helps to connect and align your savings, spending and investment behaviors with your goals, providing a clear path for pursuing them. Understanding how your assets are being used to support each of your goals inspires confidence as you move forward toward your desired outcomes at each stage of life.<\/li>\n<li><strong>Use your budget to create happiness.<\/strong> Often, people approach budgeting from a negative perspective \u2013 as a tool for limiting spending. In reality, your budget helps to create financial freedom by building your confidence around money management. Want to enjoy a double soy mocha latte from your favorite barista each morning? If that\u2019s a priority, factor it into your budget. If it doesn\u2019t quite fit, consider a tradeoff. Maybe you can reduce spending somewhere else. Your budget should not only reflect what makes you feel secure and confident in life, such as building your emergency fund, saving for retirement and managing debt, but what makes you happy. That doesn\u2019t mean living beyond your means. That would create the opposite of happiness. However, when you craft a budget that revolves around what\u2019s most meaningful in your life, you\u2019re more motivated to remain on track. Approach your budget with purpose and positivity and it will return the favor.<\/li>\n<li><strong>Work with an independent wealth advisor.<\/strong> A wealth advisor who is in your corner, working as a collaborative partner, can make an enormous difference in how you view money matters. Your advisor has the advantage of providing clear, rational and objective perspectives, devoid of emotional biases. This becomes even more important during periods of increased market volatility or economic uncertainty, when you may find yourself wavering or second guessing your decisions. Your advisor will educate you on what\u2019s taking place in the markets, how changing conditions may impact your strategy, and what, if any, adjustments need to be made to help keep you on track.<\/li>\n<\/ul>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>Ready to create a positive and productive relationship with your money? Download our free guide: Your Family Index Number: Defining Your Future With Confidence.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/rcarson\/2023\/05\/24\/how-to-develop-a-positive-financial-mindset\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the past year, I have been following the work of Dr. Joe Dispenza. Dispenza, who goes by \u201cDr. Joe,\u201d is a Doctor of Chiropractic, as well as a researcher, lecturer, author, and corporate consultant. His post graduate training includes the fields of neuroscience and neuroplasticity. Much of his work centers on helping people make [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-13085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Develop A Positive Financial Mindset | iFintechWorld<\/title>\n<meta name=\"description\" content=\"For the past year, I have been following the work of Dr. Joe Dispenza. 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