If you were worried about money before Covid-19 you are probably struggling to control your anxiety now. Whether it’s because your personal circumstances have changed or because the global economy has plunged into panic mode and you went with it.
Fear, doubt and worry about money have come bubbling to the surface and suddenly you’ve found yourself wondering “Can I do this?”
Developing a strong money mindset means that when the world is turned upside down you don’t go with it. Working on your mindset and your relationship with money will mean you can continue to pursue your personal goals without being thrown off track by external circumstances.
People are making money right now and you can be one of them.
Are You In Panic Mode?
As we went into lockdown many freelancers and business owners moved into panic mode. Afraid that people would stop buying from them, they lowered their prices. They gave huge discounts to entice customers in. In an effort to trim budgets and reduce outgoings they cancelled contracts. They stopped investing in themselves and others. Maybe you’ve stopped investing in yourself? If all this is ringing a bell, you certainly aren’t on your own. The economy has taken a battering and so has many people’s confidence and faith in their relationship with money.
Many people have said that because there are so many others struggling financially right now, they feel they have to offer their products or services for free. We all want to do something to give back. I’ve done it myself. I offered Time Line Therapy for free when first in lockdown knowing people will go into crisis.
It was my way of helping.
But know this about your money mindset, anything that was there before, will now be massively amplified. Let me repeat that. Anything that was there before, will now be massively amplified.
What Are Your Money Stories?
All your past money stories if you haven’t dealt with them, will raise their ugly heads again.
Your current money mindset is your own belief about how money works for you in your life. When you have a scarcity mindset it creates barriers between you and your financial success.
Having a scarcity mindset will leave you overwhelmed with the feeling that there is never enough money and that money is negative. Instead of being in control of your finances, your finances control you.
What Are Your Money Beliefs?
“Rich people get it easy, you have to work hard for your money, money is not for people like us”
Your current financial status will give you an idea of your past thinking but it’s NOT an indication of what is possible for you. Your money mindset got you here, but you can change it if you want to go further.
Continual work on your money mindset is essential to the success you want. If you base your dreams and what is possible for you on what’s happened in the past or what’s currently going on, you will stay stuck in that place. You have to think bigger.
Tips For Creating A Better Money Mindset
- Watch your language around money
What are you saying to yourself right now? “tighten our belts”, “I’m broke”, “I’ve got no money”? Your language is critical. You need to bin the word ‘broke’ from your vocabulary. Think about the words you use now to describe your relationship with money. What picture comes up in your mind? Is it a positive thought about money or is it resentment and negative?
- Treat money like someone you love.
Treat it like you would a partner. Show it respect and more will come your way.
It’s ok if you’re feeling worried right now. It’s ok if you’re struggling to keep your anxious thoughts in check. And it’s ok to feel unsure about the future. No matter what changes around you, you can still have a strong mindset and decide to look for the opportunities. Commit to a mindset of growth rather than scarcity.
Some people might not be buying right now, but that doesn’t mean ALL people are not buying right now.
You might be feeling uncomfortable about whether you should be selling in this current climate. Maybe someone has told you that it is insensitive or crass. While we cannot pretend that we are experiencing ‘business as usual’, now more than ever it is our duty to serve our clients at the highest level. It is our responsibility to be positive, adapt, adjust and find new ways to serve.
All of our lives have been turned upside down, many have lost their basic security and the majority of their income, but they do not benefit from us deciding to shut up shop.
If we want to support those who will now rely on government benefits then we must continue to sell, contribute to the economy and pay our taxes. We may feel discomfort in selling but those feelings do not feed our families, pay our employees or support our society.
Set Your Intentions and Let The Universe Know What You Want
When you don’t have a lot of money coming yet, it’s easy to put yourself to the back of the queue when it comes to paying your wages. There is always something else you need to spend it on. That frame of mind is not good for your morale and it’s not good for business. If you don’t pay yourself the work will feel harder and the money will not come. You need to pay yourself every month, even if it’s just £10. By paying yourself you are setting your intention that this is a proper business that pays you a wage because you are worth it.