4 Money Mindset Shifts From Jason Drees That Pay Off In The Long Run

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When it comes to managing finances, general advice says we should budget out for expenses and save the rest for a rainy day. This money mindset ensures we’ll always have enough cash for the things we need as well as the things that matter to us most.

But does this “playing it safe” approach we’ve been told about for so long really help us reach our financial goals? Sometimes rewiring our financial mindset to be less limiting can help us better achieve success, argues business coach Jason Drees.

“We tend to focus on the past… setbacks, failures and missteps, and budget with the belief that those things will happen again,” Drees says. “When we remove these beliefs from our planning, we open the door to greater financial opportunity.”

With April being Financial Literacy Month, Select spoke to Drees, author of the upcoming book, “Do the Impossible: Unlock Your Full Potential with the Power of Mindset,” about four of his money mindset shifts that pay off in the long run.

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1. Stop “saving” your money

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2. Break through your financial comfort zone

Many people live in what Drees defines as a financial comfort zone, which is largely based on what their parents earned. But what your parents earned when they were raising you versus what you can potentially earn today are two drastically different things. Drees argues that by imposing these limitations on ourselves, we can end up subconsciously sabotaging opportunities to grow and out-earn our parents.

The first step in breaking through your financial comfort zone is to recognize this very pattern. Drees then suggests shifting your mindset and beliefs around money, thinking instead that money is not the root of all evil but a good thing that brings you more time, resources and choices. This may also entail believing that your family will still love and accept you even if you earn more.

“When you’re growing, there’s going to be a little discomfort,” Drees says. “There’s going to be a feeling of growth and expansion. When you lean into that discomfort as you expand, then you normalize that new level.”

3. Develop a “rich person mindset”

4. Determine your “financial freedom” numbers

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.