We all know the benefits of having a positive mindset. Being optimistic comes with its own rewards not only mentally and emotionally but financially as well. According to recent studies, optimists cultivate healthier financial habits as compared to pessimists. While nearly two-thirds of optimists participate in building an emergency fund, more than half of the pessimists never do the same.
The key to a better future lies in practicing positive thinking. It has been shown that optimistic people are more like to enjoy career gains and make more money, and overall feel less stressed about their finances.
Of course, life is a rollercoaster journey, we all know that especially now as we’re going through a global health crisis. So how do we develop financial optimism as we encounter obstacles and stress-inducing circumstances in our life?
First and foremost, financial positivity is not about becoming ignorant of challenges and crises. Rather, it’s about being prepared and becoming respond-able to the obstacles and adversities that come our way so that we can face them head-on and build our finances in spite of them.
Here are some practical ways to cultivate a positive state of mind in your financial life:
Surround yourself with optimists: We can’t undermine the influence our immediate social circle has on us. If the people around us have an optimistic outlook towards money and wealth-building, it gets substantially easier for us to cultivate the same approach and follow through on your commitment. Of course, we don’t have to abandon our friends and family members who are financial pessimists. But we have to be conscious about spending more time with people who are optimistic, understand our financial motives and support us on this path.
Cultivate a growth mindset: I’ve talked previously in my essays how consistent growth fuels hope, which not only makes us more confident and optimistic about our future but also ignites the desire to grow even further initiating a positive feedback loop. Instead of thinking that our financial conditions are fixed, we must develop a growth mindset and take constructive actions that improve our money game. Every new day brings with it an opportunity to make better financial choices and cultivate new positive behaviors like tracking our expenses and saving money whenever we can.