N
egative money mindsets are the damaging thoughts we have about money. These are usually formed during childhood and can lead to us making bad financial decisions as an adult. A negative mindset can be challenging to manage, but with the right approach, you can tackle them head-on. Negative money mindsets include believing money is evil, that it causes unhappiness, or that having little of it means you’re worthless. Negative money mindsets prevent us from being able to save for the future and pay off debt faster because they make us focus on short-term problems instead of long-term solutions. A negative money mindset may struggle with spending responsibly, monitoring your expenses, sticking to a budget, and staying out of debt. Having a negative cash mindset doesn’t mean you’re stupid or irresponsible; it just means that you need some help changing your perspective on personal finance so you can move forward in your life confidently and efficiently. Here are some of the negative money mindsets you should avoid:
Building a Wealth Mindset: The Ultimate Guide
I don’t earn enough to put money into saving.
People who earn very little every month may feel like they don’t have enough money to save. This is not true! You can save money even if you barely have enough to cover your monthly bills. It’s easier to keep when you have less money because you don’t have as much to spend. You need to be smart about where you put your money, and you can find plenty of ways to save that don’t break the bank. Try to find affordable ways to save money. Some good options include: Using a free online savings account to save for short-term goals like a vacation. If you have some extra cash, put it towards something long-term like retirement. You can save money in many ways, even if you don’t have much to spare.
Money only creates issues.
Money, in the opinion of some, creates more issues than it solves. If you have a negative money mindset and believe money causes problems, you may be reluctant to deal with finances. You may hold off on filling out your taxes or setting up a retirement account because you don’t have the money to pay the government or put money into a retirement fund. If you have a negative money mindset and you’re dealing with debt, you may avoid paying it because you believe it’s an “issue” that you don’t have the money to fix. You can break these bad habits by actively challenging your negative money mindset. Ask yourself why money causes problems. What are the issues it causes? And then ask yourself how you could solve those issues with cash. If you don’t have money, how could it be used to solve those problems?
Nowadays, it’s more difficult to become wealthy.
Some individuals believe that today’s economic environment is too challenging to make a successful person. While it’s true that the financial landscape is more complex than it was in the past, it’s not impossible to make a lot of money. You need to have a positive attitude about personal finance and a willingness to learn how the average person handles money in the modern world. It takes a lot of hard work and determination, but it’s possible to become wealthy using savvy financial tactics.
I will never be able to pay off all my debts.
Some people believe they will never be able to pay off their debts. If you have a negative money mindset, this might be your go-to excuse for why you can’t pay off your bills. You have the power to change this situation. You can turn your finances around without necessarily hiring a debt collector if you have the right mindset. You must be dedicated to paying off your debts as soon as possible. You can do this by actively paying down your debt. Put all of your extra money towards debts. Get your debts paid off as quickly as possible, so you don’t have to worry about them anymore.
Why bother when I never understand investing?
For some individuals, investing is too complicated to understand. This makes them think that investing is only for wealthy people and that they shouldn’t worry about it. Investing is something that everyone needs to do. If you don’t actively invest your money, it will sit in a savings account and barely grow. Investing is not difficult. You don’t have to be an expert to start investing. You need to know where to put your money, so it grows, and then withdraw the funds when needed. Investing is something that all people should actively pursue. If you don’t understand it, tons of resources are available to help you learn.
If you have money, you’re greedy.
Some people believe that having a lot of money makes you greedy. This is not true! You can start a business, work in a lucrative field, or be frugal with your money. If you have a negative money mindset, you might view people who make a large amount of cash as greedy because they have a lot to give. If you believe that having money makes you cheap, you will always be resentful toward wealthy people.
Never will I earn that much money.
If you’re constantly telling yourself that you will never make a certain amount of money, you will most likely never achieve it. Some people have negative money mindsets about their future earnings. They believe that they will never make enough money to support their lifestyle. This is a dangerous way to think because it will keep you from trying to make more money. You need to challenge this negative money mindset actively. Instead of thinking about how much money you don’t drive, think about how much you can make. Investigate potential careers that pay more money. Ask friends and family about what you could do to make more money. If you have a negative money mindset about the money you currently make, you won’t take the time to advance your career and increase your earnings. This will keep you in a cycle of low earnings, and you’ll never break out of it.
I don’t earn enough to put money into saving.
People who earn very little every month may feel like they don’t have enough money to save. This is not true! You can save money even if you barely have enough to cover your monthly bills. It’s easier to keep when you have less money because you don’t have as much to spend. You need to be smart about where you put your money, and you can find plenty of ways to save that don’t break the bank. Try to find affordable ways to save money. Some good options include: Using a free online savings account to save for short-term goals like a vacation. If you have some extra cash, put it towards something long-term like retirement. You can save money in many ways, even if you don’t have much to spare.
Money only creates issues.
People with a negative money mindset and believing money causes problems may be reluctant to deal with finances. You may hold off on filling out your taxes or setting up a retirement account because you don’t have the money to pay the government or put money into a retirement fund. If you have a negative money mindset and you’re dealing with debt, you may avoid paying it because you believe it’s an “issue” that you don’t have the money to fix. You can break these bad habits by actively challenging your negative money mindset. Ask yourself why money causes problems. What are the issues it causes? And then ask yourself how you could solve those issues with cash. If you don’t have money, how could it be used to solve those problems?
Nowadays, it’s more difficult to become wealthy.
A few people believe that today’s economic environment is too challenging to make a successful person. While it’s true that the financial landscape is more complex than it was in the past, it’s not impossible to make a lot of money. You need to have a positive attitude about personal finance and a willingness to learn how the average person handles money in the modern world. It takes a lot of hard work and determination, but it’s possible to become wealthy using savvy financial tactics.
I will never be able to pay off my debts.
Some people believe they will never be able to pay off their debts. If you have a negative money mindset, this might be your go-to excuse for why you can’t pay off your bills. You have the power to change this situation. You can turn your finances around without necessarily hiring a debt collector if you have the right mindset. You must be dedicated to paying off your debts as soon as possible. You can do this by actively paying down your debt. Put all of your extra money towards debts. Get your debts paid off as quickly as possible, so you don’t have to worry about them anymore.
Why bother when I never understand investing?
Some people think investing is too complicated for them to understand. This leads them to believe that investing is only for wealthy people, and they don’t need to worry about it. Investing is something that everyone needs to do. If you don’t actively invest your money, it will sit in a savings account and barely grow. Investing is not difficult. You don’t have to be an expert to start investing. You need to know where to put your money, so it grows, and then withdraw the funds when needed. Investing is something that all people should actively pursue. If you don’t understand it, tons of resources are available to help you learn.
If you have money, you’re greedy.
It’s not true that having a lot of money makes you greedy. Spending a lot of money makes you greedy. There are many ways to make a good amount of money. You can start a business, work in a lucrative field, or be frugal with your money. If you have a negative money mindset, you might view people who make a large amount of cash as greedy because they have a lot to give. If you believe that having money makes you greedy, you will always be resentful toward wealthy people.
Never will I earn that much money.
If you’re constantly telling yourself that you will never make a certain amount of money, you will most likely never achieve it. Some people have negative money mindsets about their future earnings. They believe that they will never make enough money to support their lifestyle. This is a dangerous way to think because it will keep you from trying to make more money. You need to challenge this negative money mindset actively. Instead of thinking about how much money you don’t drive, think about how much you can make. Investigate potential careers that pay more money. Ask friends and family about what you could do to make more money. If you have a negative money mindset about the money you currently make, you won’t take the time to advance your career and increase your earnings. This will keep you in a cycle of low earnings, and you’ll never break out of it.
Final Thoughts on What is a Negative Money Mindset?
Negative money mindsets are harmful thought patterns that can prevent you from getting ahead financially. If you have a negative money mindset, it is essential to challenge those thoughts and actively work towards having a more positive outlook on money and personal finance. A little effort can go a long way in changing the way you think about money and can significantly impact your financial well-being.
Do you want to learn more about “What is a Negative Money Mindset?” Check out Building a Wealth Mindset: The Ultimate Guide.
Also, check out the Best Books on Personal Finance.

James is the editor-in-chief at wealthmindsetschool.com. James is a workaholic and an entrepreneur who has been in the tech industry for over ten years. He has worked with Microsoft, owns multiple websites, and now owns a mattress shop. Furthermore, when he has time left over, he will be in his woodworking shop building furniture as a side hustle. James has a B.S. in Business Management Information Systems and a Master’s in Business Administration from Liberty University. He is currently pursuing a Master’s in Executive Leadership, and once he completes that, he will pursue his Ph.D. in Business Administration – Entrepreneurship. James also seeks investment opportunities, putting his money to work instead of himself. James is an active believer that wealth begins with developing a wealth mindset. He now teaches, instructs, and helps others achieve that goal.