Why A Money Mindset Matters

Jenna Kutcher 

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November 28, 2018


Let’s talk about it: MONEY MINDSET.

Money, money, money… talking about it can feel weird, but isn’t it the foundation of our whole life? It’s money that allows us to pay for our house, buy our groceries, see the world, feel secure, pay for healthcare… The list goes on. It’s easy to get wrapped up in the negative side of money, mainly greed or scarcity.

But there is also a fully different side to money that often gets overlooked (especially when you are a penny-pinching entrepreneur). Instead of feeling stressed about money, feeling greedy or lacking, you can feel empowered to make money, confident in your worth, and THANKFUL for the money in your life.

Simply put, money doesn’t HAVE to have a negative connotation (and it shouldn’t!) Today I am going to teach you how to master your mindset, attract new wealth into your life, and transform your money mindset from start to finish… Ya ready?


It would be easy to talk about the negative side of money… because we’ve all seen it (and likely, most of us have FELT it). You know what I’m talking about. You stress about every penny in your account, you hoard money, and refuse to give freely. We’ve all been there, refreshing our bank account app, counting every penny before ordering at a restaurant, stressing about loans, mortgages, spending thoughtlessly, worrying about running out…

And I GET IT. Money sets the foundation of our life. It allows us to take care of our families, nourish our bodies, start our businesses… So it is IMPORTANT and you can fully think about it, but our relationship with money doesn’t have to NEGATIVE.

But let me tell you, I have been there.


The way that we look at money is often shaped by so many factors: how we were raised, our parents attitudes, our career choice, and so on. My relationship with money is now in a much better place, but it wasn’t always smooth sailing.

At a young age I was taught the importance of saving money (even when there was a super new cool toy I wanted!) My parents seldom handed out money, we always knew we had to work for what we got. I love that my mom would make chore sheets and put monetary values on tasks we could do to earn money, like organize the junk drawer or clean out the closet. It was in these little ways that I learned the value of a dollar, and I am so thankful.

One of the first times I was SUPER aware of money and working and to never take it for granted was when my dad went on an unfair labor strike. The year was 2000 and I was 12 years old. The strike lasted for almost an entire year which meant we were living off of one income. I was young, but I learned SO much about money’s impact on our lives and how unpredictable it can be.

My parents didn’t give us any money for college. We were encouraged to work really hard, apply for any and all scholarships, and know going in that we were responsible for our education. In the summer, I would come home to work. The first year, I juggled 3 jobs and put in 50+ hours a week, and put every penny towards school.

Going into my salaried job, I quickly learned how to manage an income responsibly, but when I went out on my own as an entrepreneur, I felt myself measuring my WORTH in dollars. This led to overworking, attachment to money, and a lot more…

SO why am I telling you my whole life story? Because I believe that our life experiences shape our relationship with money, and I want you to be aware of ALL the little things that have compounded into your current money mindset.

Simply put, at a certain point my relationship with money was based on a place of lack and scarcity. I was constantly worried about how much money I had, and I didn’t realize that my negative MINDSET was contributing to the cycle of lack.

Are you Money Beliefs Limiting You?

  • You are constantly worried about money (Doubting that you can make it, save it, utilize it for good)
  • Your beliefs exactly mirror your parents, spouse, close friends without ever thinking on your own
  • Sometimes, you struggle with follow through (never saving money, never paying off your debt, no matter HOW hard you try)
  • Your career feels aimless and you do not have clear money goals
  • You feel complacent in how you save and spent and are unsure of your next step
  • You constantly feel like you are about to run out of money or that you are just waiting for the next ball to drop


Okay, so we have talked about how to TELL if you have a negative money mindset, but now how do you fix it?! I’ve told you when my relationship with money was not that great, but now I am going to tell you how I changed it into viewing money with freedom, appreciation, and gratitude.


Look at your current relationship with money. And really, really look at it. Analyze past beliefs, how you were raised, what emotions you feel when you open your bank account… look at all of it! Because it’s hard to move forward if you don’t know your foundation.


I am a huge fan of journaling, and letting it ALL out for personal growth. This can be huge in your not only understanding your money beliefs, but in clarifying what you want your money mindset to look like. In this writing exercise, I challenge you to not only look at where you are, but where you want your money relationship to be.

Some examples of things that could pop into your dream “money relationship”: I want to pay off my student loans, I want to be able to give presents to friends freely without thinking about cost, I want to travel to Europe, or take a month off of work to spend with my family, I want to pay for my groceries without even considering how much money is in my account, I want to feel confident and secure in my relationship with money.

These details can be as small as you want or big picture like paying off your mortgage. But whatever you are viewing, I want you to really visualize what your perfect relationship with money looks like.

Keep in mind this is less about what you could buy, and more how you would feel: confident, abundant, secure, free… This can be one of the most eye-opening exercises because it just might make you realize how bad your current money relationship is.


Transforming your money mindset is a journey, but it’s a journey you should start today. I challenge you to work on feelings of lack, greed, (whatever it is!) and notice your emotions. And don’t JUDGE yourself for feeling this way. Simply acknowledge the emotion, analyze why you might be feeling it, ask yourself if anything triggered it, and simply allow it to pass by… and then choose to focus on a positive of money.

For example, instead of seeing the bill for dinner and instantly feeling regret, scarcity, or anything else, see the bill and think, that money just allowed me to have dinner with a dear friend and catch up for hours, with food that nourished my body. While that may be a small example, it’s those little tweaks that teach you to APPRECIATE money instead of hoarding it.

Money allows us to live the life of our highest potential, and it’s time we master a mindset that cultivates wealth and abundance.


This one can be tricky, but fully grasping its ideas and infusing it into your daily mindset makes a world of difference in every area of your life: in your business, relationships, finances, mental state, and more.

People who live in scarcity mindset are often living in fear — fear of money running out, of sharing profits with someone else, or feeling jealous of other’s wealth. In the scarcity view, there is only so much money to go around, and they want as big of a piece as they can get. And truthfully, you guys, it is really easy to get pulled into this mindset, but I URGE you to cling to scarcity’s more joyful, less selfish counterpart, “abundance”.

The abundance mindset is the true belief that there is always enough — always more than enough, actually. Example: There is more than enough money, recognition, joy, and success to go around. Clinging tight to the abundance mindset allows you to worry less about money, genuinely appreciate what money brings you, and actually attract the wealth you want in an organic, natural way.


In light of the last point, this one is focused on abundance. Remember how we said that there is MORE than enough to go around … that doesn’t and shouldn’t just apply to you!

Abundance means attracting wealth, but also sharing it! Maybe it’s a percentage of sales to a charity, a straight up donation, etc. But you need to be free enough with your money where you are comfortable with both the give and the take of money.


It’s easy to feel shame admitting that you love money. But why! Don’t we all? Don’t we all function at a higher level when we have enough money to cover our basic needs and the next-level expenses that allow us to live our full potential?

It’s easy for us to shy away from boldly proclaiming that we want more money, but we shouldn’t. When you boil it down, there is more than enough money for all of us, and I want it all to go around. Think of it like this: if you don’t attract money and go earn it, there is someone else out there who will. I’d like to note, that this money appreciation doesn’t give you permission to worship money or be greedy, but I am just encouraging you to admit that, yes, I do love making money and that’s OKAY!

You with me?

Let’s summarize a few steps YOU can take to own your money mindset and view money in a positive, healthy way.

Start Small: Journal, write down money goals (little ones & big ones!)

Read: Get your paws on some books about money mindset. I particularly love You Are A BadAss… At Making Money.

Ditch Entitlement: you need to understand that you must EARN and ATTRACT your money

Transform Your Beliefs: Believe to you will pay off your debt, save up for a downpayment, go on that vacation, etc.

Research and Invest: Know w where your money goes — it is worth it! Seek out experts opinion and really think about WHERE you are putting your money

Appreciate: Think long term, but appreciate the money that you have RIGHT HERE, RIGHT NOW.

Know Your Worth: Believe that you are WORTH making money.

Attract Abundance: “What you emit, you attract”

It’s not enough to just weakly hope, you have to truly believe in yourself and attract abundance, instead of operating in a mindset of fear and scarcity. Money is a GOOD THING, and we have to welcome it into our lives, give thanks, and set crystal-clear visions for how we want our money story to manifest. I hope every minute of this episode inspires you to open your mind, cast fear aside, and attract money, wealth, and abundance into your life.


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  1. Resa says:

    I’m not sure how to post a podcast review. (???) I listen on the iPhone podcast app. I loved “Why a Money Mindset Matters” and would like to hear more on that! Thank you for all of your great, encouraging podcasts!

  2. […] money we have and worry that we’ll never have enough to be happy, we’re living in a scarcity mindset. This is a totally limiting belief that can actually hold us back from our money […]

  3. […] I have been working on my Money Mindset(Abundance) for all of 2018, and I’m always excited to learn more applications and terms associated with the concept. Jenna talks about real ways this will affect your head as an entrepreneur(listen here). […]

  4. Arnold says:

    I absolutely agree with you so much on money! I was raised by my parents to be frugal too and it always had this negative connotation. Took me a while but I have a healthier view on money and even made a video sharing about it!


  5. […] Mindset (From Wandering Aimfully)More on Money Mindset (from Jenna […]


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Before you get any further... Hi! I'm Jenna Kutcher!

A small town Minnesota photographer, podcaster, educator and puppy rescuer, my happiest days are spent behind my computer screen sharing my secrets with the world. I'm glad you're here.

I’m an expert at online marketing, a nerd when it comes to the numbers, and my obsession is teaching others how to make a living doing what they love (without it taking over their life). 

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