We're going to break down how these two things are related by defining what a growth mindset is, outlining its importance in personal finance, and offering some advice on leveraging its money-making potential. Let's dive in!
This research led her to a conclusion that's now seeped into the popular consciousness, public school curriculum and came to inform societal understanding of success.
That begs the question: how do you develop a growth mindset around money if you've spent forever thinking your skills and abilities stay fixed throughout life?
“I can't invest; I don't know how.” “I don't know how to get out of debt.” “Budgeting doesn't make sense to me.” “I don't understand how to save money each month.”
Failure's a dirty word when you have a fixed mindset. However, not only is failure a natural part of life, but it's also (from the perspective of a growth mindset) a cornerstone of progress.