Mind over money: The power of positive thinking

When taking the steps to improve your financial situation, one of the biggest hurdles you will encounter has nothing to do with money and everything to do with your mindset. And with the holidays swiftly approaching, it’s important to remember that the power of positive thinking isn’t something that should be underestimated.

Stress – especially financial stress – is commonplace during the holiday season; however, you can control the impact it has by making a conscious decision to focus on the positive. This is always easier said than done, so here are a few tips to help you keep your mind and your money on the right track:

Set realistic goals. Take some time to sit down and really think about your financial goals. Set yourself up for success by breaking them down into realistic, attainable steps. Mastering one small step at a time you will help you remain motivated to reach your ultimate financial goal.

Celebrate your achievements. Allow yourself to take pride in your accomplishments – no matter how small they may seem. Congratulate yourself for sticking to your monthly budget or even for taking the initiative to create a monthly budget. The satisfaction you get from these achievements will help you build upon your successes. 

Accept the fact that you aren’t perfect. You will face setbacks that will threaten to derail you. These are an inevitable fact of life. But regardless of when or where you get sidetracked, you don’t have to give up and admit defeat. We all make mistakes, and that’s OK. If you ever feel discouraged you can listen to our new podcast series featuring inspirational success stories from some of our clients.

“Today I am thankful for _____.” Get in the habit of forcing yourself to complete this sentence with a different word every day. This will give you the opportunity to shift your mindset from focusing on what you don’t have to focusing on what you do have.  This is a great practice for those times you’re feeling overwhelmed or discouraged. It’s a simple task that will help you take a step back and re-assess your priorities.

Download our free eBook: Managing Debt to Improve Your Mental Wealth. This resource will help you better understand the far-reaching impact of financial issues. If you understand the way debt impacts your entire life – from your relationships to your health – it can help you understand the feelings you may be experiencing. It’s a great starting point to ultimately making the necessary mental changes that will allow you to succeed on the journey to financial freedom.

Jessica Horton is a former copywriter and community manager at MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
  • The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

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  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.