Mindset

7 Money Mantras to Improve Your Finances

Money mantras give you the power to change your thoughts, which can support better financial habits.

Money mantras are statements or slogans that are often repeated and can be a guiding force in helping with financial decisions.

The purpose of money mantras is to reinforce positive money beliefs that set your mind up for wealthy habits.

Here are my favorite mantras

Mantra #1: My money supports happiness

Money makes life easier and can alleviate some financial stress. But money itself isn’t happiness. Happiness is an emotion that results from situations.

Understandably, lack of money has a domino effect.

If we don’t earn enough money, we can’t buy the things we need. This increases stress levels, and when we’re overly stressed over money, it’s hard to walk around with a smile on our faces.

I wrote about how money can buy happiness in my book Happy Money Happy Life. In it, I share how you can spend on wellness to support your happiness.

Mantra #2: I pay myself first

Adopting this money mantra can go a long way in helping you live financially well. It’s important to always pay yourself first.

So, before you pay your mortgage, utilities, or credit card, make sure you’re putting something in an emergency fund.

Mantra #3: I am a wealth creator

If you’re saving money or contributing to your retirement accounts, then you are a wealth creator too. It’s important to remind yourself that investing is for you.

Wealth is created through investing. You can start small. Just remain consistent and use automation to keep you on track.

Learn how to start investing to create wealth.

Mantra #4: I am a lifetime learner

The more you know the more you’ll earn.

Some people go back to school and acquire skills that help them qualify for satisfying career opportunities or better pay. Others use their talents and passions to start a business and take control of their financial future. It’s not an easy transition, but it’s certainly doable.

There are many ways to learn new skills and connect with others doing work you want to do online. So, invest in yourself, strengthen your skills, and gain new experiences.

Mantra #5: I control credit

You won’t solve financial issues using credit, but mindful credit use can help you build wealth.

I use my credit card for most purchases, primarily to earn reward points. But I will say this: if you’re going to use a credit card regularly, make sure you pay off the balance in full every month.

If you’re going to use credit, do so responsibly. Remember, credit cards aren’t a substitute for an emergency savings fund.

Learn everything you need to know about credit reports and scores.

Mantra #6: Simplicity allows for more

The benefits of a simple life aren’t as obvious. However, if you can resist the urge to buy needlessly and accumulate stuff, you’ll always have enough money to cover your bills, plus a little extra for emergency expenses. And when you have extra money, you have options.

I know many people who keep it simple.

They don’t have much materially, but plenty in the bank. A frugal money mindset allows them to work fewer hours and still maintain their lifestyle, and they have the resources to do and buy just about whatever they want.

Mantra #7: I am doing financially well

I have a natural tendency to always see the glass as half full.

Instead of focusing on what’s not going right in my life, I focus on the positive. Reciting that I am doing financially well has given me peace of mind.

Now, if you use this mantra, you might come to appreciate your financial standing. Sure, your situation could always be better. You might wish for less debt or more money in the bank. Regardless of where you are financially, be proud of any accomplishments you’ve made thus far.

The truth is, some people are in far worse shape than you. So, rather than beat yourself up because you don’t have a six-month emergency fund, be proud of the emergency fund you do have — even if it’s only one or two month’s worth of income.

Read more on how to get on the road to financial wellness.

Money mantras give you the power to change your thoughts, which can support better financial habits.

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