Think back to your earliest memories of money. Were you given an allowance to spend? Do you remember your parents fighting over money? Did your family love to shop? Did it seem like your family had a hard time making ends meet? Were you surrounded by extravagant gift-givers? Did you grow up around people you perceived were richer or poorer than you?

Asking yourself these questions is a way to begin to explore the origin of your unique money mindset.

As you grew up and earned your first paycheck, how did it feel? What did you spend it on? (For me, the answers are, “Like freedom!” and “CDs!” – the kind you listen to, for those born after 1990.) When were you first exposed to debt? Credit cards? Investments? Who showed you those things and what was your relationship with that person like?

Your money mindset is a set of beliefs and attitudes you have about money that drive the decisions you make about spending, saving, earning, and investing. The aggregate of these decisions can have dramatic effects on your wealth, well-being, health, and future relationships.

Your money mindset also influences your attitude toward people, both rich and poor. Do you believe that rich people are evil and greedy or smart and accomplished? Do you believe that poor people are noble and virtuous or sad and helpless? Who would you rather be like, and why?

Since managing our way through the world with our resources (particularly money) is largely through learned behaviors, it is important to spend some time reflecting on these learnings, as well as our innate needs and values.

You can see how your money mindset ripples into every aspect of your life now, from your 401k plan to your politics to whether you believe a child should earn an allowance or be given spending money.

I’m not here to tell you that your money mindset is good or bad. A mindset, or set of beliefs and attitudes, is only positive or negative to the point where it limits a person from living a life in line with their values.

Let’s dive into examples of money mindsets:  scarcity and abundance.

  • If you have a scarcity mindset, you have a love/hate relationship with money. You may have big goals, but never enough money to achieve them. You may be a great saver, to the point of hoarding. Holding on to money may make you feel more secure like it’s the money’s job to take care of you. No matter how big your account gets, you may never feel you have “enough.”
  • If you have an abundance mindset, you love money. There’s always enough money. You have the exact amount of money right now you’re supposed to have. You know you have to protect and secure yourself, and you have the confidence that you can do it.

But I am here to share this revolutionary idea: Money is neutral, but your mindset is not.

Your money mindset lays over your very ideas about money like a veil, obscuring its neutrality, and changing how you see and navigate the world.

In the example above, many of the deeply held beliefs of a scarcity mindset can be inherently limiting. How would you feel differently if you shifted from a scarcity mindset to one of abundance? Would you feel freer?  Calmer? More empowered, knowing you are taking control of your money story? Mindset shifts require deep work, but the results can be impactful.

What if you could lift the veil of your limiting beliefs about money? How would that change the decisions you make today, tomorrow, and next year? How does that change your 5-year plan?

How does that re-write your money story? 

At Alexis Advisors, we think differently about money. Contact us to learn more.


Alexis Advisors, LLC is a registered investment advisor with the Commonwealth of Virginia. Nothing in this communication should be construed as advice. Advice can only be provided after signing an advisory agreement. Contact your advisor prior to making financial decisions.