With the new year approaching you’re probably already thinking about what you can improve on next year. So what better time to think about your money mindset?
Money Mindset may not be something you think about very often. In fact you may be one of those people who just buries their head in the sand when it comes to thinking about money. The problem with this is, as a business owner it’s essential to have a clear vision when it comes to your finances.
Your relationship with money more than likely stems from your childhood. The relationship your parents had with money will have impacted you in some way or other without you even realising it. For this reason it can be very difficult to change how you think about money. Improving your money mindset won’t happen overnight. You’ll need to go on a journey and it won’t be easy.
Improving your money mindset involves changing your beliefs and attitudes towards money in order to foster a positive and healthy relationship with money.
What can I do to improve my relationship with money?
Education
The first step is to become more aware about your financial situation. Hiring a bookkeeper will help you to achieve this. Clear transparency of your finances means you can make better business decisions. Even if your current financial situation isn’t the best, it is better to know how bad it is so you can face it head on, rather than ignoring it. A professional bookkeeper will help you to manage your finances better and can help you to budget to ensure you’re not over spending and your cash flow is nice and healthy.
Goals
Now is the time to set yourself new and specific financial goals for 2024. Setting goals which are challenging yet achievable will give you the motivation you need and a sense of direction. Discussing your goals with your bookkeeper is key so that they can help you break down your goals into smaller steps to enable you to assess your progress along the way.
Positivity
Try your best to identify your negative beliefs about money. Getting to the root of the issue will help you to overcome it. With guidance and support from your bookkeeper you will soon start to feel much more positive about your financial situation.
Focus on your achievements by reviewing how far you’ve come since first starting out in business. Celebrate every win!
If you’d like some support when it comes to your money mindset then we’d love to hear from you! Together we can make 2024 the best year yet for your business.
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