Lifestyle Related Blog, Why It's Important To Overcome And Rewrite Your Money Story

Understand Why It’s Important To Overcome And Rewrite Your Money Story


Your money story is your unique set of beliefs and prevailing attitudes towards money and your finances. This mindset drives what you do with your money and how you think about money which can be a blessing or a curse because your money mindset impacts the trajectory of your life. Therefore, if you find a problem in the way you handle your finances it is of utmost importance that you understand why it’s important to overcome and rewrite your money story.

Where Did You Get This Mindset from?

Your money story is influenced by many different factors and is usually long seated, started, and developed as a child. It has a lot to do with how you were raised and the environment you grew up in, including the experiences you’ve personally had around money. It is also influenced by culture and traditions and typically “lives” in your subconscious mind.  

1. Words that leave an impact- The Classics

  • Money can’t make you happy
  • Money is the root of all evil
  • Money doesn’t grow on trees
  • We can’t afford it

2. Common Practices- that leave an impact

If you were raised in a household where your parents are comfortable with debt

  • Positive: You are not afraid to take a calculated risk investment.
  • Negative: You follow the practice and sink into debt.

However, if you grew up in a household where debt is not an option (except for mortgage) and cash and savings are the goals.

  • Positive: You build a healthy savings account.
  • Negative: You rebel because you feel deprived and as a result go into debt.

These are common narratives that no doubt influence your management of money or lack thereof.

Your Beliefs Shape Your Stories

Your money mindset is your personal story about money. It makes up for your beliefs, opinions, and feelings about money. Beliefs like- how much money you deserve, are entitled to have and are able to earn, spend, and invest.

Negative Money MindsetHealthy Money Mindset
*I’m buying this now, and think of ways to pay for it later
*I’ll never be good at money
*My parent’s made me this way
*He/She just got lucky and that’s why they’re successful
*I’ll never make as much money as…..
*He was born with the silver spoon & inherited it
*Life is unfair, better not waste energy trying
*You can only CHEAT your way to Riches
*I have to keep up with my friend’s lifestyle- even if I can’t afford it!
*I was born to be poor
*I have the freedom to spend
*I’ll be fine if I don’t buy this today
*I can only wear/use this- one at a time, one is enough.
*Helping others gives me true Joy
*I don’t have to compare myself to others.
*It’s possible to achieve my financial goals.
*Having savings gives me peace of mind
*Something great is destined for me if I believe and do the work.
*I can achieve anything my heart desires
*I will never give up reaching for those dreams
* I know I will be financially free

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8 Steps To Overcome Your Money Story

  1. Identify your money story. Money beliefs shape our financial reality. In order to change the way you handle your money, you must first identify your money stories and mistakes. Awareness is key.
  2. Understand your story. Look to your past and understand where these beliefs came from, how it has influenced you, and how they have shaped your money story. “With this new awareness, you can start to unhook yourself from the money habits that don’t serve you,”- Rose Kirby, wealth coach and money mindset mentor to entrepreneurs.
  3. Forgive yourself. Stop being a captive to resentment. We all make mistakes, we should learn from them not hate them. Rewriting your money story won’t happen overnight and you may encounter some hiccups along the way. However, forgiveness is key if you want to succeed in the long run.
  4. Negative financial beliefs. If you find yourself in debt that you can’t pay or savings that you can never raise it’s time to figure out why you are in this situation. According to Stefanie O’Connell, the millennial money expert at”When we learn to pause and check in with ourselves about what’s really going on underneath the anxiety, fear, and stress of our stories, it allows us to make more intentional decisions about our money”.
  5. Your self-worth x your net-worth. When you are buried in debt, you feel hopeless, embarrassed, fearful, and stuck, which will keep you from taking action to change your situation. According to Melanie Lockert, author of the book “Dear Debt”. Debt doesn’t mean you’re a bad person”. Disengage from your negative thoughts, acknowledge the debt, take action and get your power back.
  6. Write your own money story. As within so without. Discredit your old money stories and own your future. People act on their beliefs and that reflects in the way they make their financial decisions. When you break free from your old money mindset and write your new money story you will start doing things that align with your new beliefs. A change of impression is a change in expression.
  7. Educate yourself. The more you learn the better you navigate through life. Investing in education on personal finance can help you make better decisions and builds your confidence.
  8. Baby Steps. The get-quick-rich schemes hardly work. For changes to happen consistency is needed to build lasting habits and routines.

Rewriting Your Story Through A Growth Mindset

We all like to dream about being financially wealthy or at least attaining financial freedom. For most people though, it remains a dream and nothing more. Why? It’s because most people don’t set their minds to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the diseases of growth.

It’s important to shift into a growth mindset in order to accomplish your goals. Using solid growth strategies is essential to doubling your revenue and it all starts in your mind.

Carol Dweck author of Mindset said that there are essentially two types of mindsets: Fixed Mindset and Growth Mindset. A Fixed mindset sees nothing but limitations. While the Growth mindset is based on the belief that your basic qualities are things you can cultivate through your efforts.

The payoff for strengthening your money mindset is massive.

Ramsey Solutions “conducted a study of over 10,000 millionaires, and 97 percent of the millionaires believed that they could become millionaires.” Do you believe that you can become a millionaire? Even if your goal has nothing to do with generating seven figures, Do you believe you deserve a financially free life?

If you want to be a rich person, don’t let the poor person inside of you do the talking – Robert Kiyosaki

6 Steps To Build Your Money Mindset

  1. Have a positive mindset towards money. Be goal orientated and think long-term in terms of your actions and choices.
  2. Appreciate what you have and be optimistic about the future. This will help you put things in perspective and help you make positive changes.
  3. Focus on what you really need than what you want right now. This will help you make better financial choices.
  4. Discipline. develop the power to ignore current pleasures for bigger rewards.
  5. Change your perspective by being optimistic about the sacrifices you need to make today, to enjoy tomorrow.
  6. Believe and aim high. Know that you deserve a better life, work for it!

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Attitude Matters

  • Track your income and expenditures
  • Spend less than you earn
  • Save towards exciting goals
  • Continue to develop your financial literacy
  • Let go of past mistakes. Treating them as lessons learned will help with moving to a more positive outlook on money.

If you plan on changing your money mindset then here’s a related post HOW TO CHANGE YOUR SOCIAL CIRCLE AND UPGRADE YOUR LIFE


  • Reply Roosa | Money Marshmallow October 6, 2021 at 11:25 am

    Great post and very thorough and helpful tips! It’s incredible how big of a difference a healthy money mindset and habits can make to your financial success!

    • Reply Lani October 7, 2021 at 1:57 am

      Hi Roosa,

      Thanks for your comment. I 100% agree with you, having a healthy money mindset is very important.

  • Reply Hannab October 7, 2021 at 9:16 am

    This was really helpful, I learned a lot!

    • Reply Lani October 7, 2021 at 11:41 pm

      Hi Hannah,

      Thanks for your comment. I hope it helps you in your journey through mindset change

  • Reply Sandra Ans July 27, 2022 at 2:12 am

    Fantastic post! I really enjoyed it! I also loved this quote: ”If you want to be a rich person, don’t let the poor person inside of you do the talking”! Thanks!

    • Reply Lani July 27, 2022 at 8:37 am

      Hi Sandra,

      Thanks for your comment. I’m happy to hear you enjoyed this post.

  • Reply Nia July 28, 2022 at 9:54 am

    A beautiful post especially about money mindset. I loved the cognitive reframes you wrote and definitely have some friends I would want to share this with. Great post!

    • Reply Lani July 30, 2022 at 6:09 am

      Hi Nia,

      Thanks for your comment. I’m glad you enjoyed this post and please do share it with your friends.

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