How to Develop a Wealth Mindset

They say money can’t buy happiness. Clearly, the person who said that never tried paying rent with good vibes.

The truth is, a wealth mindset isn’t about gold-plated yachts or diamond-studded tea strainers. It’s about how you think, feel, and act around money. And the best part? You don’t have to be the child of a hedge fund magnate to develop one.

In fact, a study by Forbes shows that 68% of millionaires are self-made. That’s right. Most didn’t inherit their wealth—they built it from scratch, brick by metaphorical gold brick.

Ready to join them? Buckle up. It’s time to unlock the secrets of a wealth mindset.

What is a Wealth Mindset? (And Why You Might Not Have One Yet)

A wealth mindset isn’t just about thinking happy thoughts until the universe delivers a Ferrari. It’s a belief system that shapes how you view money, opportunities, and even failures.

People with a wealth mindset see abundance, not scarcity. They ask, “How can I make this happen?” instead of, “Why is this impossible?” While others are binge-watching reality TV, they’re brainstorming side hustles, investing, and turning problems into profit.

Signs you might need a mindset upgrade:

• You believe money is evil.
• Budgeting feels like punishment.
• Investing sounds like something only people with plenty of money do.
• You’re on a first-name basis with your overdraft.

Recognising these patterns is the first step. The next? To get a deeper understanding of your relationship with money. To do this often requires a different way of thinking.

If Money Were a Person, Who Would It Be to You?

Imagine money as a living, breathing entity. If it were a person, who would it be? A stern, distant authority figure? A fickle lover who comes and goes? Or a generous mentor? How you personify money reveals your subconscious relationship with it.

For some, money is the elusive trickster—always slipping through their fingers. For others, it’s the strict parent—demanding discipline and control. A wealth mindset requires you to shift this perception. Instead of seeing money as an enemy or an unreliable friend, reframe it as a trusted ally—one that, when treated with respect and understanding, will support and empower you.

Archetypically, money can be seen as the Wise Sage (offering wisdom if you listen), the Warrior (requiring strategy to conquer financial challenges), or the Nurturer (capable of providing security and growth). If money were a lover, would it be a passionate but fleeting romance or a stable, long-term partner? Would it feel like a cruel master, or a kind and generous friend?

Who’s the Boss?

Some see money as a demanding boss—always requiring hard work but never giving enough in return. Others treat it like a mischievous child—hard to control, unpredictable, and occasionally throwing tantrums with unexpected expenses.

Then there are those who see it as an estranged family member—distant, difficult to connect with, but always linked to their sense of security and worth.

How you see money shapes how you interact with it. If money is the elusive lover, you might find yourself constantly chasing it, never feeling secure. If it’s the strict master, you may hoard it, never enjoying the fruits of your labour. If you see money as a benevolent teacher, you’ll be more likely to learn its lessons and use it wisely.

Take a moment to reflect: if money were a person, what kind of relationship would you have with it? More importantly, what kind of relationship do you want to have with it? Reframing your view of money can be powerful.

Start seeing it as a helpful, abundant force that works with you, not against you. This mental shift alone can start reshaping your financial reality.

If Money Were a Movie, a Country, or Even a Meal: Uncovering Your Hidden Money Story

If imagining money as a person gave you some insights, let’s stretch that creative thinking further. What if money were a movie? Would it be a horror film, filled with constant dread and looming financial disaster?

Maybe it’s a romantic comedy—full of fleeting moments of joy, spontaneous spending, and a plot twist that leaves you broke. Or perhaps it’s a gritty crime thriller, where money is seen as something dangerous, corrupt, and best avoided.

Consider how different movie genres might represent your financial relationship:

• Horror: Constant fear of debt, scarcity, or unexpected expenses.
• Romance: An idealised view, where money is loved when it’s there but neglected in harder times.
• Comedy: Careless spending, seeing money as something to laugh about, never taking it seriously.
• Drama: Emotional highs and lows, living paycheck to paycheck with intense financial stress.
• Documentary: Methodical, logical, with a detached sense of control and planning.

Now, ask yourself where this emotional narrative might have come from. Did your parents argue about money? Were you told that “money is the root of all evil” or that “money doesn’t grow on trees”? Our money stories are often shaped long before we open our first bank account.

If Money Were a Country

Imagine money as a country. Is it a bustling economic powerhouse like the US, full of ambition, competition, and a relentless drive for success? Or perhaps it’s a tropical island paradise—symbolising ease, indulgence, and a lack of financial stress? Maybe it’s a developing nation, full of potential but struggling with scarcity and uncertainty.

Each country has its own economic personality, just as we all have our own financial persona. Identifying which country aligns with your perspective on money can reveal whether you view wealth as achievable, difficult, or even morally questionable.

• Switzerland: Conservative, cautious, valuing stability and security.
• Italy: Passionate spending on experiences, food, and luxury, sometimes at the expense of long-term savings.
• Japan: Methodical, disciplined, with a strong emphasis on planning and respect for money.
• Greece: Laid-back, carefree, enjoying life in the moment but occasionally ignoring financial realities.

Which country does your financial mindset resemble? Where would you prefer it to be?

If Money Were Food

Is money a gourmet meal, meticulously prepared with balance and care? Or is it fast food—quick, convenient, and satisfying in the moment but leaving you financially malnourished? Some treat money like a luxury dessert—indulgent, infrequent, and often accompanied by guilt.

• A Feast: Abundance and generosity, with plenty to go around.
• A Diet: Restrictive, limiting, and rooted in scarcity thinking.
• Junk Food: Instant gratification through impulsive spending.
• A Balanced Meal: Thoughtful financial choices, balancing saving, investing, and spending.

How you view money as food says a lot about your financial habits. Are you feeding your wealth mindset the nutrients it needs, or surviving on empty financial calories?

If Money Were Music

Picture money as a soundtrack. Is it a chaotic heavy metal concert—loud, overwhelming, and unpredictable? Maybe it’s smooth jazz—calm, flowing, and effortlessly stylish. Or perhaps it’s classical music, representing financial discipline, precision, and elegance.

• Rock: Bold investments, risky ventures, and a high-stakes financial life.
• Pop: Instant gratification, enjoying money in the present without much thought for the future.
• Blues: Regretful financial choices, living in a cycle of scarcity and stress.
• Folk: Simple living, valuing experiences and people over material wealth.

What genre of financial soundtrack are you playing? If it doesn’t sound harmonious, how can you shift the tune?

How to Create a Wealth Mindset

Developing a wealth mindset isn’t reserved for the Wolf of Wall Street types. It’s surprisingly achievable, and it starts with intentional thinking. Here’s how to flip that switch:

1. Befriend Your Bank Account

If checking your balance makes you break into a cold sweat, it’s time for a truce. Wealthy thinkers treat their finances like a well-tended garden. They know what’s growing, what needs pruning, and where the pests are lurking.

Action step: Schedule a weekly “money date.” Light a candle, pour a glass of something nice (or not), and review your finances. Knowledge is power—even if it occasionally makes you question your coffee habits.

2. Challenge Your Limiting Beliefs

Think you’ll never earn more than your parents? Believe wealth is for the lucky few? Time to bin those beliefs faster than last week’s leftovers.

Replace them with affirmations like:

• “Money flows to me easily and abundantly.”
• “I create opportunities to build wealth.”
• “My financial future is in my hands.”

It might sound cheesy, but so is financial misery. Choose your cheese.

3. Invest in Yourself

Every self-made millionaire has one thing in common: relentless self-improvement. They read, learn, use a journal to reflect, and surround themselves with people who elevate them.

Action step: Read one finance book a month, like “Think and Grow Rich” by Napoleon Hill or “The Psychology of Money” by Morgan Housel. Prefer podcasts? Tune in to finance thought leaders who make numbers sound thrilling.

4. Embrace Failure Like a Long-Lost Friend

Failure is inevitable. Even Jeff Bezos and Elon Musk have faced their fair share. Wealthy thinkers don’t fear mistakes. They mine them for lessons and keep moving forward.

Reframe failure as feedback. Every setback sharpens your decision-making. Just avoid repeating the same mistake—no one needs “Pet Rock 2.0.”

5. Visualise and Act

Manifesting wealth isn’t just about meditating on a beach while whispering “I am a money magnet.” Sure, visualisation helps. But action? That’s where the magic happens.

Create a vision board of your financial goals. Picture the house, the career, the freedom. Then, ask, “What’s one step I can take today?” Do it. Repeat. Success compounds faster than interest on a forgotten credit card.

Conclusion: Your Wealth Mindset in Action

By now, your mind should be feeling more expansive than a billionaire’s wine cellar. Developing a wealth mindset means embracing growth, challenging beliefs, and making money moves with confidence.

You don’t need to become a financial guru overnight. Small, consistent actions will build the mindset and habits that lead to lasting wealth. From budgeting with swagger to investing without fear, every choice gets you closer to financial freedom.

So, grab your notebook, list one money goal, and commit to a small step today. Your wealthy future self will thank you. Probably from a hammock. In Bali.

Cheers to your financial glow-up!