Dollabuzz Your Mindset For Personal Finance Success
Personal finance is more than just budgeting, saving, and investing. You need a certain mindset to succeed at the money game. Dollabuzz will show you the mindset you need and how to get there.
I got my mind on my money, my money on my mind….oh hey wassup Dollabuzz readers! As I write this, I am thinking about money, Dollabuzz, and listening to Gin and Juice . Ahhh, the early 90’s when Snoop D-O-Double- G was just a young G.
Anyways, back to the lecture at hand. A STRONG Dollabuzz requires the right mindset and that is why I read Mindset: The Psychology of Success by Dr. Carol Dweck. Dr Dweck will show you how the right mindset will help you get your money right.
Dr. Dweck shares her research about the fixed and growth mindsets and how a simple belief about yourself guides a large part of your life. This post will discuss how these mindsets impact our Dollabuzz. Keep reading and I’ll show you the Dollabuzz mindset and why you should read this book.
Here is what we are covering today:
- The fixed mindset and its negative impact on your money and personal finance goals
- The 3 da’s of personal finance and how they get in the way of your money
- The growth mindset and how it is key to your personal finance success.
The Psychology of Personal Finance Success: How the Fixed Mindset Kills Your Dollabuzz
The fixed mindset? You’re losin’ me bro. Stay with me. The fixed mindset is that little voice of doubt in our head. We all have that self-doubt in our head and it manifests itself in different ways. For example, maybe you don’t open a 401k or a Roth IRA because you don’t know how and don’t want to look dumb by asking a “stupid” question.
If you have a fixed mindset you may be afraid to try something new and make excuses to protect your confidence. You say things like “I’ll never have money and always be broke” or “only rich people retire.” People with the fixed mindset are always right, don’t like criticism, and try to explain failures away. Using excuses will prevent you from achieving your personal finance goals.
The 3 da’s of Personal Finance: Coulda, Shoulda, and Woulda
At Dollabuzz we refer to common excuses of the fixed mindset as the “3 da’s.” I coulda got his or her phone number. We shoulda went to the after party. The Detroit Lions woulda won the Super Bowl. Yadda, yadda, yadda.
Dr. Dweck explains that fixed mindset people have inflated views of themselves, their abilities, and when they don’t succeed a built in excuse (the three da’s) are right there to make them feel good.
In personal finance there are numerous da’s. A few common da’s are:
- We shoulda invested in stocks
- I shoulda made a budget
- We woulda paid cash
- I coulda been a millionaire
- I shoulda invested in my 401k
Don’t let these excuses kill your Dollabuzz! I hate to point out the obvious but, a GREAT da is Dollabuzz. See what I did? Ta-da!
The Psychology of Success: The Growth Mindset Will Help You Dollabuzz Your Money
My Growth Mindset and Personal Finance Dollabuzz
Why You Should Read Mindset: The Psychology of Success by Dr. Carol Dweck
Dollabuzz Your Finances
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