Healthy Mindset = Healthy Habits

Interactive Video

[A woman smiling.]

Narrator: According to Dr. Jacob Tower from Stanford University, mindsets help our brains simplify complex worldviews into digestible information, set our expectations, and then guide decision-making.

[An animation about mindset with a tree growing out of a mind with different leaves appearing as a person waters the plant. The leaves contain pictures of a baby, a sand timer, a piggy bank, and an icon with a world in the top and two people communicating.]

Narrator: A money mindset is simply your attitude about your finances, which can be influenced by how you were raised, past experiences, beliefs about money, and culture. 

[A woman with a concerned expression holding $100 bills spread out. The woman’s thought bubble contains an empty wallet.]

If you have anxiety about money or fear that you won’t have enough, you may operate with a “scarcity mindset.” [On screen text: Anxiety or fear about money leads to a “scarcity mindset.”]

[An animation of a woman moving from an anxiety mindset with a concerned expression on her face and an empty wallet in her thought bubble to an abundance mindset with a confident smile and a wallet full of money and a piggy bank overflowing with bills and coins in her thought bubble.]

On the other hand, if you can change how you think about money and believe financial freedom is possible, you can adopt an “abundance mindset.” In plain speak, your mindset about money influences your spending and saving habits. 

[Money mindset survey]

“What’s your money mindset? Select the best option for you on each question.]

Narrator: What’s your money mindset? Take a quick survey to find out. Select the best option for you on each question. Remember: it’s not a quiz. There are no correct answers. Answer the questions about how you truly feel, not what you think the appropriate answer is.

1. What is your history with money?

1. I’ve always struggled.
2. It’s been a roller coaster of good times and tough times.
3. I’ve had tough times but always made it through.
4. I’ve always been comfortable.

2. What message did you receive about money when you were growing up?

1. The rich get richer, and the poor get poorer.
2. Money doesn’t grow on trees.
3. You make your own success.
4. If you’ve got it, spend it.

3. What’s your current financial picture?

1. It is terrifying.
2. I don’t know. I can’t bring myself to look.
3. I don’t have everything I want, but I have enough for now.
4. I am living the dream!

4. How would you feel about receiving a large financial gift or windfall?

1. Too scared to enjoy it
2. Confused about what to do with it
3. Grateful that I could save some for later
4. Thrilled to be able to go on a spending spree

5. What would it take for you to feel confident in your financial future?

1. I don’t see a way to get there.
2. There are too many changes needed, such as education and support, that I don’t have.
3. I’m already confident that with hard work I can have what I need.
4. I never worry about money.

6. How do you feel about your finances compared to others in your situation?

1. Other people don’t have the financial problems I do.
2. Other people do a better job managing money.
3. Other people have the same issues I do.
4. Other people are jealous of my finances.

[Feedback is revealed after submitting all 6 questions.]

• [Feedback if you chose three or more A’s:] Your scarcity mindset is holding you back. Changing your mindset doesn’t happen overnight. A good first step is to understand your thoughts and emotions around money. Try taking a moment after each purchase or financial decision you make to be aware of how you feel and what you’re thinking. Be honest with yourself. [Text: Your scarcity mindset is holding you back.]
• [Feedback for three or more Bs:] Time to face your financial fears and start thinking positively about what is possible with money. You shouldn’t compare yourself to others. Instead, realize that everyone's personal situation is unique. Everyone faces different financial challenges. Focus instead on how to make positive changes to your habits. [Text: Time to face your financial fears and start thinking positively about what is possible with money.]
• [Feedback for three or more Cs:] Awesome! Your abundance mindset is helping keep you on the right financial track. You realize that you may occasionally face challenges, but you are confident that you have what it takes to make it through. [Text: Awesome! Your abundance mindset is helping keep you on the right financial track.]
• [Feedback for one or more Ds:] Are you sure you have a realistic attitude about your finances? You may have a financial blind spot that could lead you to be wasteful with money. What happens when something unexpected happens or you have a goal that requires money? What will you do then? [Text: Are you sure you have a realistic attitude toward your finances?]
• [Feedback for one A:] Your scarcity mindset may cause a negative perspective about money, giving you anxiety. Consider taking an in-depth look at your income and monthly expenses so you can better understand your financial situation. [Text: Your scarcity mindset has created a negative perspective of money which causes you anxiety.]
• [Feedback for two Bs:] Your apprehension regarding money may be due to your scarcity mindset. Turn previous negative thoughts around and look for things you can work on to start a positive financial mindset journey. [Text: Your apprehension regarding money may be due to your scarcity mindset.]
• [Feedback for two Cs:] Everyone has made bad financial decisions at some point. Forgive your past mistakes. You’re human! It’s time to look forward and focus on the things you can change. [Text: Everyone has made bad financial decisions at some point. Forgive your past mistakes.]

[A brain that represents a scarcity mindset with no light around it.]

So, regardless of your current mindset, the important part is, you can always adapt if you want to. That’s the awesome part about being human!

[A larger brain appears with sunburst lines around it and is labeled “abundance mindset.”]

[A woman smiling.]

Good money management is all a matter of attitude and good habits.

[Healthy Mindset Flip Cards]

[On screen text: Steps Toward a Healthy Money Mindset. Select each card to flip.]

If you are feeling like your money mindset isn’t the healthiest, consider some of these ideas to start taking positive steps forward. 

Card 1:

Look for opportunities to adapt instead of seeing roadblocks.

Card 2:

Recognize that every financial situation is fixable.

Card 3:

Instead of struggling silently, don’t be afraid to ask for help.

Card 4: 

Accept that small positive steps add up to progress, even if it's slow.

Card 5: 

Be grateful for what you have. The right attitude will help guide you in the right direction.]

[A confident man looking intently ahead.]

Healthy habits are born out of awareness and reflection. So, start by thinking about your money mindset and how it impacts your financial choices…and then build from there.