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An integral part of personal finance is understanding the psychology of money, not just how you save and budget, but rather how you think about money. In essence, what state your money mindset is in. This mindset is crucial to how you manage, spend and attract money into your life.

What is a Money Mindset?

Our money mindset looks at how our beliefs, expectations, and feelings towards money influence our financial behavior, success, and disappointment. Effectively, this means that financial success is an “inside job” and is more determined by the thought processes that occur in our mind rather than any external event.

Is there a Millionaire Mindset?

Theoretically, yes. BUT, this is a mental limitation in itself! If you believe you can only make a million dollars, you will cap out there. You set the bar on how high you can go.

Why not make it 2 million, 5 million, 10 million etc. It is this infinite, limitless thinking that forms part of a healthy money mindset.

A healthy mindset encourages you to spend money wisely, but also take calculated risks to grow your earning potential e.g. starting a passion based business.

But, as with anything, this mindset needs to be maintained. Adverts, friends, the media, all of it can challenge your values and throw your money mindset off track.

Important Side Note

If you’re in debt, we highly recommend you read Dave Ramsey’s book The Total Money Makeover which you can check out hereHe has helped MILLIONS of people climb their way out of debt and claim financial peace and security.

6 Best TED Talks to Reset Your Money Mindset & Attract More Wealth

To help reset your money mindset and attract more wealth into your life, we’ve put together a curated list of the 6 best financial related TED Talks, all between 10 and 20 minutes.

1. Sell Your Crap. Pay Your Debt. Do What You Love.

If you’ve ever wanted to just uproot and start a new life (but never knew how!), this is the talk for you. In 2008, after the birth of his first child, Adam and his wife decided to sell everything they owned, pay off their consumer debt, and spend a year travelling abroad as a family.

They began sharing their journey in early 2009 on the blog Man vs. Debt, now 15000 subscribers strong. In this fascinating talk, Adam shares his ups and downs in the areas of personal finance, consumerism, clutter, travel, and passion based entrepreneurship.

2. How to Buy Happiness

Ever wondered if money can buy happiness? Michael shows you just how it can…but it’s not quite what you’re expecting. This talk encourages you to question what you’re spending your hard earned money on, and if it’s truly what you desire.

3. Saving for Tomorrow, Tomorrow

Economist Shlomo Benartzi says it’s easy to imagine saving money next week, but how about right now? Generally, we want to spend it. This is one of the biggest obstacles to saving enough for retirement, and this talk asks: How do we turn this behavioral challenge into a behavioral solution for early retirement?

4. What you Weren’t Taught About Making Money

What if making money was just like riding a bike? Where you get better the more you practise the skill. While you may be familiar with money preserving skills like ‘save more’ or ‘spend less’, Sarah Potter explores the myths and realities of what it is really like to build the skills to make more money and grow your wealth. Watch her fascinating talk here.

5. It Doesn’t Take Money to Make Money

We LOVE this TED talk! All too often we hear the phrase ‘only people with money, make money’. Hear Brandon Leibel’s story, the co-founder of Soundcloud, who proves this wrong. Listen to his story of success filled with a lack of funding, innovative marketing ideas and heartfelt anecdotes. A truly inspirational watch.

6. One Life-Changing Class You Never Took

In this TED talk by Alexa Von Tobel, the message is simply about making smart financial decisions at present to have a brighter future. Tobel claims that most Americans make at least 6-10 financial decisions in a day that worsen their money situation. So to avoid a hard future, she proposes some rather clever, and effective suggestions.

More Money Talks We Love!

3 Psychological Tricks to Help You Save Money

Less Stuff, More Happiness

Know Your Worth & Then Ask For It!

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