Money Musings 💭lighten up with money 🌤
One of the shifts I see in my most successful clients is that they switch from a fixed to a growth mindset around money. What does that mean? Instead of believing their abilities with money are fixed (saying and thinking things like “I am just terrible with money. This is not something I can do.”), they start to believe that they can improve and get better at it with practice. And of course, we can!
This makes our money failures seem less like fatal flaws and more like learning experiences.
I remember Sara Blakely (the founder of Spanx) say in an interview that they shared a failure of the day around her dinner table growing up. This normalized - and even encouraged - risk-taking and coming up short over perfection. This is such an incredible practice to cultivate a growth mindset.
Justin and I list three things we’re grateful for each night. It’s such a fun practice that not only reminds us of how much we have to be grateful for, but it also helps us recount the magical moments in our day (that can otherwise all blend together).
We’ve now added the failure of the day and will eventually bring Eli in on the practice.
What’s one way you failed with money today or even this week? What can you learn from it?
Money Move of the Week
Calculate your net worth. Friendly and serious reminder: your net worth has absolutely nothing to do with your worth as a person. It’s just a fun way to track progress towards your financial goals. The equation? What you own (your assets) minus what you owe (your debt). Here’s a handy tool to help you calculate and track your progress.