How Using the Growth Mindset Can Grow Your Money

With a fixed mindset, you believe your talents, skills, abilities, intelligence, and character are fixed. You think they don't change throughout your life and thus perceive talent (i.e., what you're born with) as the key to achievement.

A growth mindset is the opposite. You believe everything from your intelligence and capabilities to your overall lot in life is subject to change. With time and effort, anything's possible; it's up to you to make it happen.

But how can you harness a growth mindset to bolster your bank balance? Here are five suggestions to get you started.

Action over Avoidance

Whether you've been struggling to pay off your credit card debt, save for retirement, or are unable to summon the courage to ask for a raise, a growth mindset should make it easier to acknowledge the problem and take the first steps to address it.

Celebrate the Struggle

Building wealth doesn't happen overnight. You have to be committed, resilient, and patient while working toward the goal! Use your growth mindset to reframe matters.

Continue Learning

A growth mindset goes hand in hand with the willingness to learn. So, let those thoughts of failure fall away and set your mind to learning, adapting, and mastering better financial habits instead.

With support from accountants, tax advisors, and financial advisors, you'll access essential information to lever yourself into a stronger financial position and avoid expensive mistakes.

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