Grow Your Money with a Growth Mindset

While you’ll never be able to think your way to a million bucks, your beliefs about what it takes to succeed, combined with the way you approach problems and make sense of the world, can profoundly impact your bank balance. 

We’re going to break down how these two things are related by defining what a growth mindset is, outlining its importance in personal finance, and offering some advice on leveraging its money-making potential. 

A few decades ago, Dr. Dweck researched why some are crippled by failure and others take it in stride. She found that people fall into 1 of 2 camps regarding our underlying beliefs about learning and knowledge.

Introduction to Growth Mindset

With a fixed mindset, you believe your talents, skills, abilities, intelligence, and character are fixed. A growth mindset is the opposite. You believe everything from your intelligence and capabilities to your overall lot in life is subject to change.

Fixed mindset or a growth mindset 

you have to believe something’s possible to make it happen. As Shiv Khera once said, “If you can see the invisible, you can achieve the impossible.”

Why Is Mindset Important?

That begs the question: how do you develop a growth mindset around money if you’ve spent forever thinking your skills and abilities stay fixed throughout life?

Embracing the Growth Mindset

There are 4 strategies for embracing a growth mindset: The power of yet, replace the word failing, embrace your weakness, and remembering your brain is plastic

Strategies for Embracing a Growth Mindset

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