5 Ways a Kindergartner’s Growth Mindset Can Grow Your Money

Imagine a world where there was a recipe you could follow to get rich. What ingredients do you think would feature in it? A high-paying job? A diversified investment portfolio? Disciplined saving?

Each of those elements can undoubtedly play a role in the bid for financial success. But something else is even more fundamental. Something taught in elementary schools across the country is equally essential to wealth-building.

A few decades ago, Dr. Dweck's research on how people think of learning led her to a conclusion that's now seeped into the popular consciousness around success and school curriculum.

What Is a Growth Mindset?

With a fixed mindset, you believe your talents, skills, abilities, intelligence, and character are set in stone. As a result, if you can't do something, there's little point in trying. In essence, you're resigned to your fate.

What Is the Difference Between Growth and Fixed Mindsets?

So how do you develop a growth mindset around money if you've spent forever thinking your skills and abilities stay fixed throughout life? Here are four strategies to get started.

Embracing the Growth Mindset in 4 Step

“I can't invest; I don't know how.” “I'll never get out of this mountain of credit card debt.” “Budgeting doesn't make sense to me.” “I don't understand how to save money each month.”

The Power of Yet

Failure's a dirty word when you have a fixed mindset. However, not only is failure a natural part of life, but it's also part of the learning process.

Replace the Word Failing With Learning

It's always tempting to hide from what needs improvement. However, no good ever comes from burying our heads in the sand.

Acknowledge Your Weaknesse

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