Financial therapist shares four mindset changes to become rich

By Nova M Bajamonti for Dailymail.Com

7:15 PM May 20, 2024, updated 7:16 PM May 20, 2024

  • Amanda Clayman from Los Angeles recently spoke with Business Insider
  • The expert explained that most people avoid thinking about money problems completely
  • She revealed that the most lasting results come from changing your approach

A financial therapist has revealed the four simple mindset changes that can help you become rich.

Los Angeles-based Amanda Clayman recently spoke with Business Insider about how to boost your bank account.

The expert, who also hosts the Emotional Investment podcast, explained how most people avoid thinking fully about their money problems, which often makes them worse.

She said the most lasting results come from changing your approach, rather than simply tackling problems head on – from learning to deal with disappointment to focusing on what you can control.

Podcaster Amanda Clayman shared that her financial duties include working through your disappointments and finding a deeper purpose for the budget

Dealing with disappointments

Amanda’s first piece of advice is to learn to deal with disappointment, as she urged readers to tackle the problems at their roots.

She explained that concerns about money often stem from higher expectations, such as hoping for a promotion and then being discouraged by your current salary when it doesn’t work out.

The expert urged, “Marry your old expectations and creatively find a way to discover the possibilities for joy and peace while these are your circumstances.

“Surrender to the reality that this is what it will be for the foreseeable future.”

This helps you take relevant financial action for the here and now.

A financial therapist has revealed the four simple mindset changes you need to make to become rich (stock image)

Find the motivation to save

Then the financial therapist explained that the key to saving money was deciding on an important goal.

Budgeting can be tricky and often means sacrificing fun experiences, which Amanda admits can be “disheartening.”

But she said if the reason you’re saving is essential — rather than something superficial — it can make it easier to forego small luxuries.

‘The reframing can be about ‘how do I find dignity in this effort or struggle?’ shared the expert.

She advised finding “a different definition of power and what is cool and valuable.”

The advisor said being honest with friends and family about which getaways are too expensive will help savers stay accountable and achieve their goals.

Amanda also suggested thinking of saving and fun as ‘both/and’, and focusing on what you can control (stock image)

Believe that saving and fun go hand in hand

Amanda’s third tip was changing our mindset and believing that saving can be fun.

“On the one hand, there could be a virtually unlimited amount of money that you can immediately spend on travel and experiences.

“But we also have another valuable tool that we’re trying to make room for, which is long-term security,” she said.

The consultant said people should not feel the need to choose just one of these approaches, but instead the solution is to achieve a balance between both perspectives.

This could include finding a lucrative pastime or a fun side job, or even getting more creative the next time you decide what to do with friends.

The LA resident believes that if the concept of budgeting overwhelms you, you should question your financial expectations (stock image)

Focus on what you can control

There are many things outside of our control, and Amanda urged people not to interfere.

Focusing on financial regrets – such as being saddled with student debt from your younger years – can often lead to a lack of self-confidence and motivation.

People can feel “so ashamed and overwhelmed by the idea that this debt is an unyielding burden” that they do nothing about it.

She instead suggested that you “accept that there are parts of this choice that are truly painful,” but urged them not to make it part of your identity.

“Focus on how to do it well with limited control” and stay on top of managing what you can until a full solution is feasible.

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