The first step to saving is changing your financial mindset

A lot of people assume saving is only implemented by actions, but the reality is it all starts with your financial mindset and there’s nothing that beats practice.

Changing your financial mindset is the first important step that you need to successfully save money. I can almost guarantee you that once you master this step, you’ve already won 50 percent of the battle. The other 50 percent is setting realistic goals and acting in order to accomplish them.

Changing your mindset from scarcity to abundance is not difficult when you know the right strategy. Here is how I transformed my financial mindset by implementing the following steps:

Create a vision board: By representing your goals with pictures and images, you will find it easier to start saving because you will have goals and the mind responds positively to visual stimulation. In this instance, emotions also act as the vibrational energy that activates the Law of Attraction.

Live a minimalist lifestyle: The philosophy behind this element is getting rid of excess stuff and living life based on experiences rather than worldly possessions. You will realize that having less stuff can also free up your life, financially.

Begin to love money: Once you realize the importance of money and valuing it, you will notice that saving is something to consider as a lifestyle. Remember, what you currently have in your bank account is regarded as your net-worth. I’m sure no one wants to be worth R85, 50.Once you get used to depositing some money into your savings account, it will eventually become a habit.

Phumie