Multiply Your Wealth: Daily Exercises for Financial Freedom
Welcome back to Crafted Entrepreneur! Today, we’re diving into a topic that’s essential for everyone: your wealth. I’m excited to share one of my favorite daily exercises that has consistently helped me multiply my money. Let’s explore how you can establish a solid foundation for your financial mindset and take actionable steps toward true financial freedom.
Understanding Money Mindset
Before we jump into the exercise, it’s crucial to understand the importance of a healthy money mindset. You might feel frustrated when you hear about “mindset” because it can seem overly simplistic—just work on your mindset and watch the money flow in, right? But the truth is, the more effort you put into developing a positive money mindset, the more space you create for abundance in your life.
Your money mindset is essentially your set of beliefs and attitudes about money. It influences every financial decision you make, from how you spend and save to how you invest. A healthy money mindset isn’t just about positive thinking; it’s about cultivating a balanced, empowered approach to your finances that encourages growth and resilience, even in challenging times.
The Impact of Money Mindset on Financial Success
Limiting Beliefs vs. Empowering Beliefs: Limiting beliefs, like “I’ll never be wealthy” or “Money is hard to come by,” can create invisible barriers that prevent you from taking the necessary steps toward financial success. On the other hand, empowering beliefs like “I can create wealth” or “There are endless opportunities to make money” can open doors you never thought possible.
Rewiring Your Brain: Science shows that our brains are malleable; we can rewire them through repeated thought patterns and behaviors. By consciously choosing empowering money beliefs, you can reprogram your brain to see opportunities and take proactive steps toward wealth.
Overcoming the Fear of Success: Many people have an underlying fear of success, worrying about how their lives might change or how others might perceive them. A healthy money mindset helps you embrace success and see it as a natural outcome of your hard work and determination.
Key Steps to Build Your Money Mindset
1. Practice Gratitude for Your Financial Situation
No matter where you stand financially, expressing gratitude is vital. Gratitude helps you shift your focus from lack to abundance, making it easier to attract more of what you want. Consider what gives you peace and security regarding your finances. Write down these elements and their drawbacks.
Example:
- Pros of Having More Money: More options, travel opportunities, increased clients, freedom to make choices that align with your values.
- Cons of Having More Money: Possible stress from managing wealth, fear of losing it, increased responsibility.
Daily Gratitude Practice: Each morning, take a few minutes to write down three things you’re grateful for in your financial life. This could be anything from having a steady job to enjoying the freedom to invest in your passions. Over time, this practice helps reframe your relationship with money and keeps you focused on the positive aspects of your financial journey.
2. Get Educated
Financial literacy is key. Understand what you want to invest in and how your money works. Whether it’s real estate, the stock market, or savings accounts, educate yourself. Resources like Vanguard offer free information to help you make informed decisions. Knowledge empowers you to make confident decisions, reducing fear and uncertainty about your financial future.
When I first started in investing, I did what so many people told me to do: I hired a financial advisor. It was a smart idea and I definitely recommend getting an advisor or a mentor or a coach every time you want to do anything in business, but I really didn’t understand the role of a financial advisor at the time. And because I didn’t understand their role or how they made their money—which is fees, by the way, regardless if you make money or not—I actually ended up with a pretty shady advisor until I learned more about investing in general and learned how those advisors worked.
Once I learned more, I was able to expect more and I was able to find better advisors who actually helped me make more money.
3. Adopt an Abundance Mentality
Shift from a scarcity mindset, which sees money as limited, to an abundance mindset that recognizes the potential for growth. An abundance mentality allows you to circulate your money, knowing it will return to you multiplied. This shift in perspective can be transformative, not just for your finances, but for your overall sense of well-being.
Steps to Foster an Abundance Mindset:
- Visualize Abundance: Spend a few minutes each day visualizing your ideal financial future. Picture yourself living the lifestyle you desire, free from financial stress. Visualization is a powerful tool that primes your brain to recognize and seize opportunities.
- Affirmations: Create and repeat daily affirmations that align with your financial goals, such as “I am worthy of financial abundance,” “Money flows easily to me,” or “I am open to receiving all the wealth life offers me.”
- Surround Yourself with Support: Surround yourself with supportive individuals—friends, family, or a coach—who share a healthy money mindset. This positive environment fosters motivation and momentum. Attend networking events, join mastermind groups, or follow social media accounts that inspire financial growth.
Daily Exercise: Give Your Money a Mission
Now, let’s get into the powerful daily exercise that has transformed my financial journey. This simple practice can help you create true financial freedom.
Money with a Mission
Every morning, as part of my routine, I check my accounts—my investing accounts, personal account, and business account. Here’s what I do:
Tell My Money What to Do:
- For example, if I have $1,000 in my bank account, I set a clear intention: “Money, find ways to multiply for me.”
- Specify tasks for your money: “Money, you’re going to help pay my bills, and you’re also going to work for me by investing in a high-return opportunity.”
Break It Down:
- Investing: Allocate a portion of your money toward investments that align with your goals. This could be stocks, real estate, or a small business venture. By giving your money specific tasks, you reinforce the mindset that money is a tool working for you, not just something you spend.
- Savings: Set a goal for your savings. For instance, “Money, you’re going to build my emergency fund so I have peace of mind.”
- Giving: Even a small amount can make a difference. Allocate funds for giving or charity, which not only helps others but also keeps the flow of money circulating in your life.
Express Gratitude:
- Instead of viewing bills as burdens, thank them for the services they provide. “Thank you for keeping my lights on and my family warm.” This shift in perspective can change your relationship with money.
- Create a ritual around paying bills that feels positive, like lighting a candle or playing your favorite music. This turns a mundane task into a moment of gratitude.
Why This Works
When you give your money a mission, it creates momentum. Instead of dreading expenses, you begin to see money as a tool that supports your life and goals. This practice not only helps you feel empowered but also encourages a positive cycle of earning and spending.
Psychological Benefits: By actively directing your money, you build a sense of control and purpose. This reduces anxiety around finances and increases your confidence in managing your wealth.
Practical Outcomes: Regularly reviewing your accounts and giving your money direction helps you stay on top of your finances, spot opportunities for growth, and make adjustments as needed. It also ensures you’re aligning your spending with your long-term goals.
Long-Term Success: Over time, this practice helps to build wealth through disciplined saving, investing, and intentional spending. It reinforces the habit of treating your money with respect and intention, which compounds over time into significant financial growth.
Join the Crafted Woman Membership
If you found these tips helpful, you’ll love my Crafted Woman membership! Inside, I coach live twice a month, providing personalized insights and strategies to help you see your financial blind spots and break through to your next level.
What’s Included:
- Live Coaching: Twice a month, you’ll have the opportunity to dive deep into your financial journey with live coaching sessions that tackle real-world challenges and solutions.
- Exclusive Resources: Gain access to workbooks, templates, and tools that guide you through financial planning, goal setting, and mindset exercises.
- Community Support: Connect with like-minded women who are on the same journey toward financial freedom. Share insights, celebrate wins, and learn from each other’s experiences.
Unlock the potential of a supportive community and exclusive resources designed to empower you on your financial journey. Check the show notes for more information—I can’t wait to see you inside!
Final Thoughts on These Daily Exercises to Grow Your Wealth
By incorporating these daily exercises into your routine, you can start to multiply your wealth and cultivate a healthier relationship with money. Remember, your mindset plays a pivotal role in your financial success. You can’t have truly abundant success if you’re living with a scarcity mindset.
Start Now:
- Take Action Today: Start by implementing one small change, like practicing gratitude for your finances or setting an intention for your money. Even small steps can lead to big changes over time.
- Consistency is Key: Consistently practicing these exercises will help you build new habits that support financial growth. Set reminders or create routines to keep yourself on track.
- Reflect and Adjust: Regularly assess your progress and make adjustments as needed. Financial freedom is a journey, and your strategies may evolve as you learn and grow.
If you have any questions or want to share your experiences, feel free to DM me on social media. I’d love to hear your story and celebrate your wins with you!
