Written by

Huw Jones

Date published

August 27, 2023

Do you have a fixed mindset?

Performance is a behaviour not an outcome. This is true in all areas of life. The only thing we are all fully in control of at all times is how we act. Nowhere is this more obvious than with money because it gives us a way to easily keep score.

When we’re on the receiving end of a less than great outcome, there’s two possible responses:

Blame someone/something else.

This the fixed mindset approach, where ‘victims’ believe that the events of their lives are beyond their control. This is the story they tell themselves to paper over the gaping chasm that is their own short-comings. The alternative is too painful to acknowledge...

Blame yourself

The growth mindset approach is where ‘learners’ tell themselves a different story. They accept that it was their own behaviours that were the driving force behind their achievements and if they want to get a different result they will need to do something new. They will need to learn.

A fixed mindset is focused on the outcome: “I’ll be happy when I’ve got £X in the bank”. Whereas a growth mindset focuses on the journey “I’m enjoying saving £X each month”. Happiness isn’t some future event, it only happens in the moment.

This inevitable leads to some difficult truths...

1. If you are not where you want to be financially, it’s probably your fault. The vast majority of financial failure is behavioural.
2. If you blame external factors for your situation you will never tackle the real reason for your financial failures - YOU.
3. If you aren’t happy today, you probably won’t be happy in the future. Happiness is a today experience.
4. You are responsible for every single decision you make. If you get it wrong own it and go again.

Are you stuck in a fixed mindset? Do you believe that you’re unable to change your current circumstances? It’s time to shift your mindset to a growth mentality.

A fixed mindset focuses solely on the outcome, believing that success is determined by external factors. On the other hand, a growth mindset understands that success is the result of hard work and dedication. By adopting a growth mindset, you can overcome challenges and achieve your goals.

It’s important to acknowledge that financial success is not solely based on external factors, but rather the result of our own behaviour. If you blame external factors for your financial situation, you’ll never be able to overcome your financial challenges.

Remember, happiness is not a future event, it’s a today experience. By taking ownership of our decisions and learning from our mistakes, we can create a better future for ourselves. So, are you ready to shift your mindset and unlock your full potential?

All you have to do to get going is get out of your own way.

You are holding yourself back.