I was taught to always be cautious with money (don’t overspend, always have savings, etc) and as a freelancer, I’ve felt a bit constricted with my money. Since my income isn’t always as stable as someone with a 9-5, I can sometimes cling too tightly to my earnings, worrying that I shouldn’t spend money on unnecessary things cause what if I my income changes next month? So I’m working on having an abundance mindset, rather than coming from a place of lack.
Thank you for sharing this with the community Rachel! I think it's so difficult to talk about what you just said, but I am so grateful that you took out the time to comment.
I relate to this as someone on the flip side of it (working a 9-5) and having my cousin work as a freelancer. Saving is always a smart choice, but I also had to learn to use my money to a) create change, b) try to save most of it but not all of it. When money goes out, it makes room for more money to come in is what I heard somewhere and it has allowed me to build that abundance mindset. Have you always worked as a freelancer? If not, did you notice a change in your relationship with money when you were working a comparatively more stable job?
I’ve been a freelancer for 4 years now. And yes, I did notice a shift in my relationship with money moving from a 9-5 to freelancing, though it was gradual. My husband and I actually both left our 9-5s around the same time, and then we joined bank accounts. He had some debt, whereas I didn’t, so I feel like that contributed to that shift for me too
I love that Rachel! Kudos to you for acknowledging that, I feel like so many people choose not to admit what their actual relationship is with money but acknowledgement is the first step towards improving that relationship.
I just recently finished reading ‘You Are A Badass At Making Money’ by Jen Sincero. That book is all about mindset (which I didn’t expect). Highly recommended if you are looking at building up an abundance mindset!
I grew up being told money is bad and rich people are bad and money can run out so you need to always save. It’s taken me a long time to see money as a beautiful way to exchange services and goods with and as you say, yes it can buy happiness and peace of mind to a degree.
It’s been very freeing for me to have paid off my final big junk of student loans this year where now I know, I don’t own anyone any money.
That is a huge achievement Carmen! I'm sure it must be such a relief. 👏🏻
I think it took me so much time as well to realise that money is not a bad thing, and to have a desire to earn more of it is not bad as long as it's not an obsession. Having the freedom of time is the ultimate goal though!
I'm curious, what made you finally realise that a mindset shift is required in terms of money in your life? Was it a specific incident?
Oh, thanks so much for the mention, and I couldn't agree more. I've had a complicated relationship with money for many years and I think I'm finally making my peace with it. Recognising the help it can be to me without feeling over burdened by it (or lack of it)
Good conversation, Mansi, offers insights on appreciating the importance of money without having one's life revolve around it. You also observe right: time is the true prize. With it, we can pursue these other things.
The key is in knowing how much of what we seek is enough; it's in defining a life where it would be so. Thank you, as always.
For most of my life, I have been the person who never wanted to spend a single penny of what I spent and save all of my money (it's easier to think that still as I live with my parents which significantly reduces my expenditure). But I have been working on detaching myself with that mindset. Also trying to define the threshold beyond which more of it will not make a huge difference in my life. It's a slow process but it's worth it.
Interesting takeaways here. The ones that stand out most to me are: having a finish line. I’ve never considered that. When is enough enough? When does it become a blind pursuit of more? Having a finish line seems like a practical way to balance our pursuit of money with happiness in life.
Second, I have read that the more abundant you feel, the more that comes to you which is an argument in support of treating yourself to the things that bring you happiness. Money is meant to buy things with. Saving for the sake of saving seems frivolous, in my view, so ya, enjoy those scented candles :)
Thank you for sharing your insights David! I got this idea of defining a finish line from my mentor who retired at the peak of his career because he knew he had surpassed that finish line which was unique to his life. To this day, people think he is crazy for letting go of an opportunity to earn so much more money. The truth is, time is invaluable in life and it's something that most of us don't realise.
I was only chatting with someone yesterday and we were saying how much negativity there still is around money. We were brought up to believe that it was rude and uncouth to talk about money, and I think that’s still what most people believe. I had zero education when it came to money and personal finances.
My parents and my teachers never talked about financial literacy so I did not know what to do with my money even to the day I started earning my own. I had to break those norms and go have conversations with people about it to learn more. It was certainly uncomfortable at first but it was worth it! I think I have a much better relationship with money now. I wonder, how has your relationship with money developed over time?
I’m quite open about it, but than can unnerve some people. I think that being self-employed and running my own business, I’ve had to become far more comfortable with talking about money.
Less money can mean unhappiness because behind you, there is a bleeding complex of expenses. Contrastingly, more money beyond the enough threshold means unhappiness. What does this tell us? Money is only secondary to our lives. We should only savor lived experiences.
Most people constrict themselves in terms of how much money they can earn simply because they think that there isn't enough out there in the world but it's not true. Even I learned that with experience. Thank you for taking out the time to contribute to this discussion, I really appreciate it!✨
I, like most people didn't receive any real guidance when it came to money. It was treated as evil in my home and we didn't talk about credit at all. I had to develop my own money philosophy. The main thing I've tried to do recently is adopt an abundance mindset. I've spent too much time calling myself broke and not appreciating all that I have. It's taken me some time, but the more I live the more I've been able to undo some of those teachings from my childhood.
Thank you for sharing your philosophy on money. These are great reminders for anyone.
Jon, thank you for being here. I really appreciate you for contributing in the comments. And I agree, most of us are made to believe that money is bad and it starts from our home, the first environment we are ever exposed to in this world. It takes so much persistence to un-learn some of these beliefs that were conditioned to believe (in terms of money and beyond). So proud of you for choosing this path!
What challenges have you faced in the journey of building an abundance mindset, if I may ask?
The biggest challenge has honestly been comparing myself to others. Instead of appreciating what I have, I see what others are doing or what others have and feel like I’m doing something wrong. But I know that 1) am extremely blessed and 2) I’m on my own path—one that still has tons more for me to receive.
Paraphrased - "There is no shame in being poor, there is no great honor either"
I've made & lost many fortunes and have never thought of money as a source of happiness. While it makes some comfort (as things) more available the more valuable lesson with having less to spend is making better choices.
Happiness: Family, friends, doing for others, being a good person and Having Enough to Share.
I was taught to always be cautious with money (don’t overspend, always have savings, etc) and as a freelancer, I’ve felt a bit constricted with my money. Since my income isn’t always as stable as someone with a 9-5, I can sometimes cling too tightly to my earnings, worrying that I shouldn’t spend money on unnecessary things cause what if I my income changes next month? So I’m working on having an abundance mindset, rather than coming from a place of lack.
Thank you for sharing this with the community Rachel! I think it's so difficult to talk about what you just said, but I am so grateful that you took out the time to comment.
I relate to this as someone on the flip side of it (working a 9-5) and having my cousin work as a freelancer. Saving is always a smart choice, but I also had to learn to use my money to a) create change, b) try to save most of it but not all of it. When money goes out, it makes room for more money to come in is what I heard somewhere and it has allowed me to build that abundance mindset. Have you always worked as a freelancer? If not, did you notice a change in your relationship with money when you were working a comparatively more stable job?
I’ve been a freelancer for 4 years now. And yes, I did notice a shift in my relationship with money moving from a 9-5 to freelancing, though it was gradual. My husband and I actually both left our 9-5s around the same time, and then we joined bank accounts. He had some debt, whereas I didn’t, so I feel like that contributed to that shift for me too
I love that Rachel! Kudos to you for acknowledging that, I feel like so many people choose not to admit what their actual relationship is with money but acknowledgement is the first step towards improving that relationship.
I just recently finished reading ‘You Are A Badass At Making Money’ by Jen Sincero. That book is all about mindset (which I didn’t expect). Highly recommended if you are looking at building up an abundance mindset!
Oo I’ll check it out! Thank you so much, David!
My pleasure 😇
I grew up being told money is bad and rich people are bad and money can run out so you need to always save. It’s taken me a long time to see money as a beautiful way to exchange services and goods with and as you say, yes it can buy happiness and peace of mind to a degree.
It’s been very freeing for me to have paid off my final big junk of student loans this year where now I know, I don’t own anyone any money.
A great post Mansi! Thank you
That is a huge achievement Carmen! I'm sure it must be such a relief. 👏🏻
I think it took me so much time as well to realise that money is not a bad thing, and to have a desire to earn more of it is not bad as long as it's not an obsession. Having the freedom of time is the ultimate goal though!
I'm curious, what made you finally realise that a mindset shift is required in terms of money in your life? Was it a specific incident?
Oh, thanks so much for the mention, and I couldn't agree more. I've had a complicated relationship with money for many years and I think I'm finally making my peace with it. Recognising the help it can be to me without feeling over burdened by it (or lack of it)
Thank you for taking out the time to comment Louise, I really appreciate your presence here💕
I love that you are finally making amends with your relationship with money. If you don't mind me asking, what lead to this mindset shift?
Good conversation, Mansi, offers insights on appreciating the importance of money without having one's life revolve around it. You also observe right: time is the true prize. With it, we can pursue these other things.
The key is in knowing how much of what we seek is enough; it's in defining a life where it would be so. Thank you, as always.
Thank you for your insights Patrick!
For most of my life, I have been the person who never wanted to spend a single penny of what I spent and save all of my money (it's easier to think that still as I live with my parents which significantly reduces my expenditure). But I have been working on detaching myself with that mindset. Also trying to define the threshold beyond which more of it will not make a huge difference in my life. It's a slow process but it's worth it.
Interesting takeaways here. The ones that stand out most to me are: having a finish line. I’ve never considered that. When is enough enough? When does it become a blind pursuit of more? Having a finish line seems like a practical way to balance our pursuit of money with happiness in life.
Second, I have read that the more abundant you feel, the more that comes to you which is an argument in support of treating yourself to the things that bring you happiness. Money is meant to buy things with. Saving for the sake of saving seems frivolous, in my view, so ya, enjoy those scented candles :)
Thank you for sharing your insights David! I got this idea of defining a finish line from my mentor who retired at the peak of his career because he knew he had surpassed that finish line which was unique to his life. To this day, people think he is crazy for letting go of an opportunity to earn so much more money. The truth is, time is invaluable in life and it's something that most of us don't realise.
Thanks for being here, I really appreciate you🌻
I was only chatting with someone yesterday and we were saying how much negativity there still is around money. We were brought up to believe that it was rude and uncouth to talk about money, and I think that’s still what most people believe. I had zero education when it came to money and personal finances.
I was in the same boat as you David!
My parents and my teachers never talked about financial literacy so I did not know what to do with my money even to the day I started earning my own. I had to break those norms and go have conversations with people about it to learn more. It was certainly uncomfortable at first but it was worth it! I think I have a much better relationship with money now. I wonder, how has your relationship with money developed over time?
I’m quite open about it, but than can unnerve some people. I think that being self-employed and running my own business, I’ve had to become far more comfortable with talking about money.
Less money can mean unhappiness because behind you, there is a bleeding complex of expenses. Contrastingly, more money beyond the enough threshold means unhappiness. What does this tell us? Money is only secondary to our lives. We should only savor lived experiences.
Yes Edwin!
Everything in life, including money, is about balance. Thank you for your insights✨
1) There’s more money out there than you think. It’s NOT scarce.
2) You can always earn more, but you can only save what you earn. So stop couponing and develop a skill that earns you more.
3) Many tax laws are designed to encourage entrepreneurship because it creates jobs. Learn the laws and use them to create to wealth.
These are some very put points!
Most people constrict themselves in terms of how much money they can earn simply because they think that there isn't enough out there in the world but it's not true. Even I learned that with experience. Thank you for taking out the time to contribute to this discussion, I really appreciate it!✨
I, like most people didn't receive any real guidance when it came to money. It was treated as evil in my home and we didn't talk about credit at all. I had to develop my own money philosophy. The main thing I've tried to do recently is adopt an abundance mindset. I've spent too much time calling myself broke and not appreciating all that I have. It's taken me some time, but the more I live the more I've been able to undo some of those teachings from my childhood.
Thank you for sharing your philosophy on money. These are great reminders for anyone.
Jon, thank you for being here. I really appreciate you for contributing in the comments. And I agree, most of us are made to believe that money is bad and it starts from our home, the first environment we are ever exposed to in this world. It takes so much persistence to un-learn some of these beliefs that were conditioned to believe (in terms of money and beyond). So proud of you for choosing this path!
What challenges have you faced in the journey of building an abundance mindset, if I may ask?
The biggest challenge has honestly been comparing myself to others. Instead of appreciating what I have, I see what others are doing or what others have and feel like I’m doing something wrong. But I know that 1) am extremely blessed and 2) I’m on my own path—one that still has tons more for me to receive.
I get that, and you certainly not alone in this journey Jon!
I love the realisations you've come to over time, they will certainly guide you to embrace your own journey✨
Agree. Money is important and solve many problems in life if not all. Also one has to be unapologetic about making money.
Yess! Well said👏🏻
Paraphrased - "There is no shame in being poor, there is no great honor either"
I've made & lost many fortunes and have never thought of money as a source of happiness. While it makes some comfort (as things) more available the more valuable lesson with having less to spend is making better choices.
Happiness: Family, friends, doing for others, being a good person and Having Enough to Share.