Monday Mindset & Conscious Investing

If you feel a bit of discomfort at the mention of money, maybe it's time to think more about it.

Money is a fascinating concept. Although the first currency emerged over two thousand years ago, we still know very little about how to manage money—or how money manages us.

No matter how much of it we have, we continue to want more.

Science tells us that money doesn't lead to happiness, yet we still believe we'll be happier with more of it.

We tend to spend it on short-term thrills rather than long-term investments.

Our relationship with money is deeply rooted in emotion, often driven by how we feel rather than the numbers in the bank. As Morgan Housel puts it,

"Personal experiences with money make up 0.00001% of what's happened in the world, but maybe 80% of how you think the world works."

Money, oh money. You are a minefield.

If comparison is the thief of joy, then when it comes to money, we're often running on empty.

There will always be someone with more, and we'll always want more unless we learn to be grateful for what we have.

There's a sweet spot between gratitude for what we have and striving for growth.

The two must be in balance for us to be happy and fulfilled: humans are wired for growth, yet we must be satisfied with where we are to be ready for the next step.

Money is Energy

The paradox, and where it gets tricky, is that we need to spend money (on the right things) to make money.

Like time, money is energy—and where energy goes, energy flows.

This isn't limited to risky investments like stocks, shares, or crypto.

I'm talking about investing in our most valuable asset: ourselves.

Investing in learning,

Nurturing your passions,

Uncovering your blind spots and developing them,

Taking risks aligned with your goals,

Attending that conference,

Buying those books,

Enrolling in that course.

Because no one is going to bet on your success more than you.

People who are confident in their ability to succeed invest in their growth, whether it means putting money into a new business, investing in coaching, or up-skilling in alignment with their goals.

They know for sure that the investment will pay dividends.

Many of us don't bat an eyelid when it comes to spending money on cars, holidays or fancy brunches (because that's what we've been socialised to do), when it comes to investing in ourselves – it can be a lot harder to part with our pennies.

What is your relationship with money?

Our relationships with money are formed during early childhood, largely influenced by the environment we grew up in and what we saw modelled by our primary caregivers.

Through these experiences, we learn how money should be treated, how easy or difficult it is to make, our appetite for risk, the ways in which we can make money, and so forth.

How much money we have in the bank is often irrelevant to how rich or poor we feel. Read that again.

Scarcity Mindset

The phenomenon of feeling like money is hard to come by, that there is not enough of it, and the need to accumulate more and more to feel safe is known as a scarcity mindset.

Even people who have generated their own wealth may struggle to shed the beliefs about money they picked up in childhood, despite their parents not being wealthy.

Think of someone who is wealthy but always penny-pinching and reluctant to spend their hard-earned cash.

You can have all the money in the world, but it may never feel like enough if you haven't addressed your scarcity mindset.

On the other side of the coin (excuse the pun), there are those who earn humble amounts but spend money frivolously.

This could indicate an emotional coping mechanism, lack of financial literacy, or social pressures.

Needless to say, this can lead to various negative consequences.

The point is:

It's not about how much we earn, but our relationship with money and how we spend our earnings that matters most.

Finding Financial Fulfilment

Are you spending your money on short-term thrills, or investing in your long-term happiness?

There is abundant scientific evidence that having meaning and purpose is fundamental to happiness, well-being, and motivation.

If we focus on nurturing our strengths, developing our skills, building our personal brands, and continually learning in the direction of our goals, we can cultivate a life of meaning and purpose.

And the best part?

When we do something we love, that leverages our strengths, and we are enthusiastic about it, we are more likely to be successful at it too.

What if we changed the focus from chasing income to chasing meaning?

When we focus on meaning and fulfilment, success follows.

I'm not talking about the type of shallow financial success that leaves you empty and always wanting more, but the type of success that energizes you, motivates you, and fills your soul!

Now I'll put that in my piggy bank 🐷🏦