To grow your wealth, use your head

Key mindset shifts can help you build better financial security

An abundance mindset is linked to building better financial security.

It encompasses the principles of gratitude (for what you have), optimism (for your future finances) and a wholehearted belief, mixed with actions (don't forget this part), that you can have more money and a better life.

Here are the core mindset shifts that need to happen when adopting an abundance mindset in your life and you don't need to be rich to get started.

Get over petty financial matters quickly

If you're worried about spending $20 on an unplanned Uber, but can't clearly articulate your investment strategy in 30 seconds or less, you're thinking too small.

Yes, I get that this is a shift away from the old adage that if you watch your pennies, the dollars will take care of themselves. But the abundance mindset doesn't include pettiness over small things because that consumes precious brainpower you need in order to be strategic in building wealth.

Petty financial comparisons to others, such as wanting a newer car or bigger home because someone in your social circle has it, will also hold you back. Quickly elevate yourself out of those thoughts and focus on the fact that with an abundance mindset - coupled with smart financial choices - you are going to have more money and happiness in short order.

Control your money. Not the other way around

Abundance comes to those who have a plan for their money - quite literally a job assigned to every dollar (even for unexpected prosperity like a tax refund or a small inheritance).

If you have holes in your financial boat, meaning that money slips through your fingers and there's not much you can show for it, you don't have control over your finances.

Course correct by tracking your spending for the next 60 days, and reviewing the data with a discerning eye: does this expenditure truly help me and bring me joy, personally, professionally or financially? If not, it can be pruned from your spending.

Supercharge this activity with a deep dive into your investment strategy.

Park limiting beliefs and welcome wealth affirmations

I grew up in a household where wealthy people were considered greedy and the concept of wealth itself was seen as unattainable. After some mentoring, I stopped living in a scarcity mindset and realized that wealth was a good thing, and that I had the power to build, if I wanted to. So I did.

If you have a hate-on for rich people, or negative thoughts towards wealth, wealth won't be available to you.

But if you embrace the learnings that wealthy people have to share, and tell yourself repeatedly that building wealth is something you can learn, prosperity will follow.

Believing that you can have a rich life is the first step towards it becoming a reality.

Overdeliver in your work

If you love what you do, and are genuinely good at it, you are likely to exceed the expectations of your job and customers.

Career abundance - promotions, raises, sales and referrals - can be the result. This also leads to greater financial rewards and satisfaction in your work.

If you're stuck doing something that isn't serving your goals, change it up. The sweet spot in your career will be a blend of what you like to do, your sharpest skills and what you're known for (in a positive way).

Reward yourself with what matters most

Being thankful for the money you have every day, even when it's scarce, will bring you deep satisfaction.

When gratitude is paired with meaningful rewards you can afford, even small ones like a massage or meal out with your honey, it shifts more financial power and joy back into your hands, which will be ready to receive wealth.

People who live abundantly often rub shoulders with like-minded people, and you can do the same. Spend quality time with people who have built real wealth, not just the appearance of it, people who are grateful and joyful, and those who pay prosperity forward.

Copyright 2020. Toronto Star Newspapers Limited. Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission. All Rights Reserved.

If money slips through your fingers and there's not much you can show for it, you don't have control over your finances. Dreamstime

This article was written by Lesley-Anne Scorgie Contributing from The Toronto Star and was legally licensed by AdvisorStream through the NewsCred publisher network.