How to Improve Your Money Mindset: 5 Money Mindset Tips

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Everything in life starts with your mindset - that is, in order to change something about your life you have to first believe that you're capable of doing so and maintain a mostly optimistic outlook to get to where you want to be. 

And your finances are no different. If you want to change your relationship with money then you need to work on your money mindset first, no doubt about it.

In this post we’re exploring what a money mindset is, and some killer money mindset tips to transform your relationship with money and your ability to manifest more of it. Let's get stuck in.

how to transform your money mindset: 5 money mindset tips to attract wealth

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What is a money mindset?

So first things first, what is money mindset?

Well, money mindset is simply our mindset surrounding everything to do with money.

It describes our automatic thoughts, feelings, and beliefs about what money means to us, how we view our own finances, and how we view money within our society.

It is this money mindset that determines your relationship with money and, ultimately, your ability to earn more of it, hold onto it, and feel financially free.

In other words, if you have a negative money mindset then you're going to find you have a very negative relationship with money. The problem is that this can form an unhelpful feedback loop that reinforces your negative beliefs about money!

But with a positive money mindset you're going to have a much better experience with money.

Let's look at some types of money mindset a bit deeper so that you can identify your own money mindset and whether or not you need to work to change and improve it.

person wearing grey changing mindsets hoodie

Types of money mindset

When we discuss money mindsets, we typically categorise our mindset into two polar categories - a scarcity mindset or a wealth/abundance mindset.

However, I would actually argue that our mindset exists more on a continuum or spectrum, rather than exclusively in either of these categories.

There is so much more to think about regarding our money mindset than just whether or not we believe it is scarce or abundant.

And there is always work to be done to improve our money mindset and to bring ourselves more into a healthy mindset surrounding money.

However, it can be helpful to have some understanding of these categories so that we can see when we are leaning towards one more than the other, and identify any changes that we need to make in order to improve our money mindset.

With that being said, here's how you can categorise a scarcity mindset vs an abundance mindset.

person holding money in hands

Scarcity mindset

A scarcity mindset is the mindset that money is a scarce resource that doesn’t come easily.

When you operate more in a scarcity mindset, you’re less likely to be able to call more money into your life because you believe that it is hard to do so.

This means that no matter how much you want more money or financial freedom, you're likely to stay trapped in your current reality because your money mindset is holding you back.

Here are some ways that a scarcity mindset might show up in your life:

  • Feeling like you have to work really hard in order to attract money and wealth

  • Feeling the need to hoard onto money and not spend freely because you believe it will be hard to come by again

  • Being really strict with your budgets and having no flexibility with your finances

  • Feeling weighed down by any amount of debt

  • Feeling constantly fearful of losing your source of income

  • Feeling jealous of other people who are financially wealthy or financially free

Wealth or abundance mindset

On the opposite end of the spectrum, a wealth or abundance mindset is the mindset that money is an infinite resource and that it is readily available to anybody.

When you have this mindset, you feel like financial freedom and wealth is available to you, no less than it is available to anybody else (because it is!)

This is the ideal money mindset to have, and what we should all be working towards if we want to experience more abundance in our lives.

Here are some ways that a wealth/abundance mindset can show up for you:

  • Feeling like money comes easily and effortlessly into your life

  • Spending on the things you desire because you trust that more money will come into your life as a result

  • Having flexibility with your finances

  • Using debt freely but responsibly to enhance your financial situation

  • Having faith that even if you lost your current source of income you’d find a new way to attract wealth

  • Seeing wealthy people as inspiration and confirmation that wealth is possible for you
pot of money with growing plant

How to change your money mindset to manifest more money

Hopefully now you have a greater understanding of what money mindset is and maybe you've even been able to identify what type of money mindset you have.

The reason that it’s important to understand our mindset surrounding money is that it has so much to do with our ability to attract more of it into our lives.

When we have unconscious negative thoughts and beliefs surrounding money, they unknowingly govern our behaviours and our energy, which in turn limits our ability to call more of it in.

When we want to attract more money, a lot of us will go in with the normal approach of endless manifesting rituals without first stopping to acknowledge where our mindset might be holding us back.

The most fundamental step to manifesting money is changing your money mindset, and these money mindset tips will help you get started on how to improve your money mindset. 

pile of bank notes

5 Money mindset tips to manifest more money

Here I've compiled a list of my top money mindset tips to improve your money mindset.

These are some of the most powerful ways to change your money mindset and move towards a mindset of abundance and away from scarcity.

Focus on these 5 money mindset tips to transform your relationship with money and wealth and watch how your own finances change for the better!

1. Explore your limiting beliefs around money

What many people don’t realise is that even when you believe you want more money, you can still have unconscious limiting beliefs that are giving out the opposite energy.

People say they want to be rich, that they want to call in 6 figures, or that they want to manifest financial freedom, but unknowingly have 50 odd negative beliefs and stories surrounding money that they weren’t even aware of.

And that’s the tricky thing, because if you’re not aware of them, how do you even begin to change your mindset surrounding money?

Which is precisely why you need to do the work to make yourself aware.

You have to truly dig deep and ask yourself what stories you’re telling yourself surrounding money. This is the first step to changing your money mindset and my biggest money mindset tip.

Start with these questions, and see what comes up for you...

  • When I think about my financial desires, what am I telling myself about why I can’t have this?

  • What negative beliefs do I have about money that aren’t serving me?

  • What fears do I have about achieving this financial goal?

  • What stories have other people or society told me about money that aren’t serving me?

Once you have some answers to these questions, you'll have a clearer understanding of some of the things that are holding you back from your ideal money mindset and what you need to work through in order to improve it.

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Get your FREE Manifestation Blocks PDF to achieve your manifestation breakthrough

2. Reframe your limiting beliefs

Now that you’re aware of some of the limiting beliefs and stories you have surrounding money, you need to reframe them.

That means telling yourself new stories and looking for evidence that disprove your unhelpful beliefs about money.

If you’ve identified a belief that “money is the root of all evil” (this is a super common one!) then your step here would be to look for evidence that this isn’t true.

So that you can start believing something that actually serves your financial growth instead.

In this particular example you might delve into all of the ways that money can and has been used for good.

You might choose to focus on the fact that having more money allows you to give freely to others, to support charities, and to support your local community.

What’s evil about that?

Here are some questions to ask yourself for this step:

  • What evidence is there to disprove this belief/story/thought surrounding money?

  • What am I choosing to believe instead going forward?

Asking yourself these questions will allow you to choose a new reality with money and improve your money mindset.

person holding head in hands with money

3. Get more organised with your money

When we develop negative beliefs and fears surrounding money, this affects our behaviours with money, which then reinforces our limiting beliefs even further.

It can be a vicious cycle and feedback loop that needs to be broken in order to improve your money mindset.

One common behaviour that often occurs with fears surrounding money is total avoidance.

You might convince yourself that by avoiding looking at your current financial situation you are avoiding the negative feelings associated with it, so that you can focus on manifesting better for yourself.

But in fact, the opposite is true.

When you avoid your reality with money, you’re unconsciously fuelling the fire of fear and anxiety associated with it.

I have my own story about this that occurred for me a few weeks before writing this post...

For a couple months I had been feeling anxious about the amount of money on my credit cards.

I felt like this debt was looming over me and I felt out of control about the amount I owed on these cards and the fact that I was going to have to start paying interest on them soon.

My solution to this was complete avoidance. I didn’t want to see the amount of debt I had on my cards so I didn’t log into these accounts for weeks and weeks.

Until one day I broke down to my partner telling him how anxious I was about my credit card debt and the need to pay it off before the interest started accumulating.

He asked me how much I had on them and I didn’t have an answer. So he asked me to open up the accounts and show him.

And when I opened the accounts (while stress crying) I was met with complete relief.


It was nowhere near as bad as I was expecting, but I had been telling myself this story about how out of control my credit cards were and the avoidance only fuelled this story and the anxiety associated with it further.

And the one thing that would have completely dissipated this situation was better organisation with my finances.

One of my biggest money mindset tips if you want to have a healthy and positive relationship with money is to have a clear understanding of your current financial situation.

You need to know exactly what’s coming in and out of your account and what debts need repaying, and have a plan on when and how to finance different things in order to minimise unnecessary fear and anxiety surrounding your money management.

If you’re not “good” at managing money, ask somebody you trust for help or hire a financial advisor. It'll take so much stress away, trust me.

Even if you're not in the best financial position, having a clear awareness of where you're at and where you're heading is so much healthier than not having a clue at all!


Fundamentally, you need to start being open and honest with yourself about your financial situation so that you can actually visualise a way forward to a more freeing relationship with money and a healthier money mindset. 

person managing finances

4. Only spend when it feels good

One of my pet peeves when it comes to money manifestation is people telling you that in order to attract more money, you have to spend more money.

While this may work for some people, it is entirely situation dependent.

If you have a ton of debt that needs paying off, have been made redundant and have lost the electricity in your house... buying a designer bag is not going to help you attract more money into your life.

It’s only going to create more anxiety and fear surrounding money, which will further block your ability to attract it.

If you want to change your mindset surrounding money and manifest more of it, you have to start spending only when it feels good.

If you truly desire the designer bag, and you feel in your heart that you can afford it in your current situation, then by all means buy the designer bag.

But if you get to the checkout and you feel anxiety about tapping your card and making the purchase, don’t do it.

Trust the response of your nervous system to tell you how a purchase is going to make you feel, and if it’s negative then it’s a good idea to skip out on that purchase right now.

Of course, depending on your situation, all purchases may feel bad right now. And that’s not a reason to not buy food and essentials to keep you alive.

However, put extra focus onto changing your money beliefs before you make the purchase, to ensure you’re in the right mindset when you tap the card.

the biggest manifesting blocks

Get your FREE Manifestation Blocks PDF to achieve your manifestation breakthrough

5. Change your money habits

As we’ve already established, our mindset surrounding money and our behaviours are incredibly linked.

So if we want to change our money mindset, a good way to do this is to interrupt our money habits to shake up our belief system.

If you’re in a scarcity mindset, there’s a good chance that you engage in money habits that are reinforcing that mindset, such as excessive budgeting or hoarding of your money.

In order to shift out of that scarcity mindset, it’s time to release the reins a little bit...

Try budgeting a little less strictly to allow yourself more money to freely spend on yourself or others, even if that means less paid into your savings.


If you change things up a bit, you might find that it gives you the opportunity to see things in a new perspective.

To see that your bank account doesn’t collapse if you put £100 less into your savings this month!

I’m not saying you have to completely sacrifice your goals, but it’s a good experiment to see what happens when you give yourself the opportunity to live and spend a little differently from time to time.

This shift can help you to improve your money mindset while living more comfortably in the process... it's a win-win!

putting dollar in piggy bank

Go deeper with these money mindset books

That concludes my 5 biggest money mindset tips, but books are an amazing tool to delve deeper into topics and to teach you how to change your money mindset.

So why not expand your knowledge on this topic even further and learn some more ways to change your money mindset?

These are some money mindset books that I would recommend if you’re wanting to change your money mindset to manifest more money!

think and grow rich money mindset book
rich as f*ck money mindset book
four money mindsets book

Stay inspired by saving these positive money mindset quotes

And if you need some more words of encouragement when you're struggling with your money mindset, these money mindset quotes can help you stay positive about your finances.

“Wealth is largely the result of habit.” -John Jacob Astor

“All my life I knew that there was all the money you could want out there. All you have to do is go after it.” -Curtis Carlson

“Instead, I have an abundance mentality: When people are genuinely happy at the successes of others, the pie gets larger.” -Stephen Covey

“Whether you think you can, or think you can’t — you’re right.” -Henry Ford

“It’s not your salary that makes you rich, it’s your spending habits.” -Charles Jaffe

“The only difference between a rich person and a poor person is how they use their time.” -Robert Kiyosaki

“The money you make is a symbol of the value you create.” – Idowu Koyenikan

“One penny may seem to you a very insignificant thing, but it is the small seed from which fortunes spring.” -Orison Swett Marden

“The trouble for most people is they don’t decide to get wealthy, they just dream about it.” -Michael Masters

“What’s keeping you from being rich? In most cases, it’s simply a lack of belief. In order to become rich, you must believe you can do it, and you must take the actions necessary to achieve your goal.” -Suze Orman

“You must gain control over your money or the lack of it will forever control you.” -Dave Ramsey

“People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made.” -Joan Rivers

“The greatest reward in becoming a millionaire is not the amount of money that you earn. It is the kind of person that you have to become to become a millionaire in the first place.” -Jim Rohn

“Before you can become a millionaire, you must learn to think like one. You must learn how to motivate yourself to counter fear with courage.” -Thomas J. Stanley

I hope that these money mindset tips have given you a good starting point to make some changes towards manifesting more wealth and abundance into your life.

Remember, it's not about being in a perfect abundance mindset all the time, but about making a conscious effort to improve your money mindset every day by incorporating the ways to change your money mindset that you've learnt in this post.

With consistent practice of these money mindset tips you'll find that your relationship with money improves and so do your finances!

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Don’t forget to pin this post for future reading!

5 money mindset tips to manifest more money

About Esther

Esther is the founder of Through the Phases.  Her mission is to guide others to grow to their full potential and create their dream life using spiritual and personal growth practices. Read more about her story here!

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