How to Change Your Money Mindset to Achieve Financial Freedom

In last week’s blog post about how we went from homeless to homeowners, I talked a little bit about the scarcity mindset that put us in money trouble. I talked about how hearing “we can’t afford that” all the time shaped my idea of money in a negative way.

Most of us grew up to develop negative feelings about money in one way or another, so today I’m going to share with you some ways that you can overcome that scarcity mindset and start you down the path to an abundant attitude towards money so that you can begin living a financially free life ASAP.

How to change your money mindset to achieve financial freedom

Money Myths

First, let’s talk about some of the myths about money we all heard growing up that could have shaped our money mindset. I’ll start with mine.

Myth #1: We Can’t Afford That

This is the one that shaped my idea about money. My family worked hard, and I never felt deprived of any basic need. My needs were always met, and I don’t remember a single time when I thought we were in financial trouble, but I did hear this a lot growing up. I’ve learned enough over the years to know that we probably could afford “that,” they just didn’t want to buy it. Ha!

However, I heard this saying so many times that I adopted it as my own when I got married and moved out. This way of thinking kept my husband and me in low-paying jobs for years, and I wholeheartedly believe it’s part of the reason we had so much trouble with money in the early years of our marriage. We’ve been married almost 14 years, and we have just recently come out of this mindset into one of more abundance.

We have a LOT of catching up to do with getting out of debt and saving for the future, but in the meantime, you won’t hear us saying we can’t afford something. Instead, we say something like, “We are going to spend our money on something more important to us right now.” Do you see how we’ve taken a negative statement and turned it into a positive one? Doing exactly that is going to start shifting your mindset immediately.

Myth #2: Money is the Root of All Evil

I KNOW you’ve heard this one before. It’s actually a misquoted scripture from 1 Timothy 6:10. What this scripture actually says is, “For the love of money is the root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”

Did you catch that? It isn’t money that’s the root of all evil, it’s the LOVE of money that’s the issue. Money is neutral. It has no morals. In fact, money can’t do a single thing until we touch it. What we are inside grows and become more apparent when we are exposed to money. If you’re a good person, you’ll do good things with your money. If you’re greedy and selfish, you’ll likely do some questionable things with it.

Myth #3: We Will Never Have Enough Money

This myth can actually be your reality if you believe it. I know you’ve heard the saying “Whether you think you can or think you can’t, you’re right.” Say anything enough times and you’ll begin to believe it. When you believe something to be true, it IS true for you. If you really want to change your mindset about money, you’re going to have to stop believing you will never have enough.

Myth #4: Money is Hard to Get

This one could not be further from the truth, and I’m going to share with you how I came to realize this. Last June, I began to shift my money mindset in the context of earning more (or any!) in my business. My mindset at the time was so screwed up that I believed I could never have a profitable business at home. Once I started to shift my scarcity mindset into an abundant one, I actually started to make money with my business, and it was so much easier than I thought it would be. In fact, I went from earning $0 to $1000 that month alone.

How to Shift Your Money Mindset

Now that we’ve gone over some of the most popular money myths that shape our mindset about money, let’s talk about some things we can do to shift our mindset into a more positive and abundant one. Some of this is going to sound silly, but I promise you, it works! Just bear with me and keep an open mind.

Have a Vision and Make a Budget

I know, I know. I’m always talking about making a budget. Just hear me out. In order for you to get somewhere, you have to have a vision of where you’re going, and then you have to make a plan to get there. In order for you to know exactly where your money is going each month, you have to make a budget. When you hear the word “budget,” what do you think of? I bet I know. Restriction. But it doesn’t have to be that way. The beauty of having a budget is you get to tell your money where to go instead of wondering where it went when it’s gone.

Do you like to have a date night once a week? Put it in the budget. Do you like to see a new movie every month? Put it in the budget. Do you like to always have your nails professionally done? Put it in the budget.

The only time you need to restrict yourself is when you don’t have money in the budget for those extra things. It’s called living within your means. If you are doing all those extra things but you can’t pay off your debts, or heck, even pay your electric bill, yeah, you need to restrict yourself. #realtalk

On the other hand, if you are NOT doing those extra things and you still can’t get out of debt, there are things you can do to turn your financial situation around. Sell things, start a side hustle, ask for a raise, change jobs, get a second job, etc. You are 100% responsible for how much money you make.

This might rub some people the wrong way, but if you don’t make enough money to pay your bills, you are the only person who is able to change that. If you are up to your eyeballs in debt and you desperately want out but just can’t come up with the money, you are the only person who can change that. It’s not your family’s fault; it’s not your boss’s fault; it’s not the government’s fault. That’s all on you, babe.

You CAN change your financial situation. The issue is most people don’t believe they can, which brings me to my next point…

Need help creating a budget? Get the 2019 Debt-Free Budget Binder. This is the binder I created and used to change our finances forever!

2019 Debt-Free Budget Binder

Believe You are Worthy and Capable

If you are one to believe that money is evil or that people with a lot of money are evil, you will not change your financial situation until you start believing that 1. you are worthy of financial freedom, and 2. you are capable of creating that freedom.

You are not evil for wanting to earn more or save more. Believing in yourself is absolutely imperative to making any positive change, and it’s especially true when it comes to money. You ARE worthy, and you ARE capable.

Be Grateful for Everything You Have

It doesn’t matter how bad your situation may be, if you look for the good in your life, you’ll find it. Do you have a wonderful husband? healthy children? a home with running water and electricity? a family who loves you? a job you love? great hair? a nice smile? Be grateful for those things. Write them down, say them out loud, post them up on your bathroom mirror, do whatever you need to do to remind yourself of all the good in your life right now.

Being content isn’t easy when you’re in need of change, but it can help give you the perspective you may need to start shifting your mindset to a more positive one. I promise you there is plenty of good in your life to draw from.

Develop a Money Phrase

Remember when I said some of these are going to sound silly? Well, this is what I was talking about. If you want to change your mindset from scarcity to abundance, developing and repeating a money phrase can help remind yourself of that positive change you’re trying to make.

Some people believe that saying phrases like these can actually attract the thing you’re wanting, but for the sake of keeping this “whoo whoo” free, let’s just say that repeating these phrases can shift your mindset from poverty to prosperity. Here are a few examples of what I mean.

For when you spend money:

  • There’s more where that came from.

  • Abundance is all around me.

For when you want to earn more money:

  • I am worthy of earning more money.

  • I am capable of earning more money.

  • I am successful.

  • I am a money magnet.

  • Money comes to me easily and effortlessly.

For when you are feeling that scarcity mindset in general:

  • I deserve all the good that life has to offer me.

  • I am living a life of abundance.

  • Good things always happen to me.

Subscribe to my mailing list, and get a free budget worksheet printable in the free resource library!


Ask and You Shall Receive

Some people call it the Law of Attraction; I call it having faith. Some people call it asking the universe; I call it prayer. Whatever it is that you believe, it’s true that if you don’t ask for it, you likely won’t get it. If you don’t believe it’ll happen for you, it won’t.

I don’t hide the fact that I’m a Christian, and since my online presence is just as important as my “real life” one, I’m going to share with you why I believe prayer and simply just having faith can help you shift your money mindset and help you gain financial freedom.

Below you’ll find a list of scriptures that back up everything I’ve been talking about today.

  • Matthew 9:29 “…’According to your faith, let it be done to you.’”

  • Matthew 21:22 “If you believe, you will receive everything you ask for in prayer.”

  • James 4:2 “You do not have because you do not ask.”

  • John 10:10 “I have come that they may have life, and have it more abundantly.”

  • Proverbs 23:7 “For as a man thinks, so is he.”

  • Matthew 15:28 “…You have great faith! Your request is granted.”

  • Matthew 12:37 “For by your words you will be acquitted, and by your words you will be condemned.”

  • Romans 12:2 “…be transformed by the renewing of your mind.”

  • Matthew 19:26 “With people this is impossible, but with God, all things are possible.”

  • Proverbs 18:21 “The tongue has the power of life and death…”

  • Matthew 7:8 “For everyone who asks receives; the one who seeks finds; and the one who knocks, the door will be opened.”

  • Philippians 4:8 Think about good things. (paraphrasing)

  • Mark 11:23 “Truly I tell you, if anyone says to a mountain, ‘Go, throw yourself into the sea,’ and does not doubt in their heart but believes that what they say will happen, it will be done for them.”

  • Mark 11:24 “Therefore I tell you. whatever you ask for in prayer, believe that you have received it, and it will be yours.”

  • Proverbs 29: 18 “Where there is no vision, the people perish.”

So there you have it. That’s how you can change your scarcity or poverty mindset into an abundant or prosperity one. It likely won’t happen overnight; it’s going to take some faith AND work on your part. But I promise you that if you follow these steps, you will make it happen.

You are capable of so much more than you think you are, whether in money or in life. You can do the hard thing. I believe in you.

Have you changed your money mindset? How did you do it? Tell me about it in the comments below!

Change your money mindset, gain financial freedom
Change your money mindset, gain financial freedom

I’m Kari

I’m Kari, founder of Mom For More. Do you often lie awake at night dreaming about what it would be like if your family was debt-free? What if you could make that dream come true with a business that allowed you to stay home and be fully present with your babies? Mom for More teaches moms that they can start a home business, become debt-free, and gain more overall peace in motherhood. It equips moms with the tools they need to succeed in their finances, home businesses, and daily lives. You don't have to put your life on hold when you become a mother. It's okay to dream. It's okay to believe that you were made for more. I’d love for you to subscribe and follow along with me!