I’m writing this intro after I’ve finished this entire post and let me tell you, WOW. You’re about to gain perspective. Here are 6 easy ways you can become more money conscious.
#1. Check Your Bank Account More Frequently
Become more money conscious by checking your bank account more frequently.
This creates a great habit and provides you with awareness of where your money is going at all times.
I have multiple accounts though…
Good!
You can actually keep tabs on all your accounts by using a budget tracker app like Mint.
I personally enjoy Mint because it provides me with a portfolio detailing my balance in investments, checking and savings accounts, as well as my credit cards.
What’s cool about the app is that it also shows you your net worth. This gives you an idea of your debit vs credit lines. Super helpful!
#2. Learn To Let Go Of Money
Number two on our list on ways you can become more money conscious is to learn how to let go of money.
What exactly does this mean?
Well, it means to let go of this concept you have of money. We tend to give the dollar more value than it’s actually worth.
Remember, money is merely a tool that can help you unlock more doors which lead to more opportunities.
Any examples?
Glad ya asked.
If you keep your money collecting dust in a personal savings account your money will never grow. Inflation will continue to devalue it.
Now say you move your money into a high yielding savings or money account that earns you a little bit of interest a month. Now that’s having your money work for you. It’s not collecting dust anymore, your dollars are coming back with a few cents and dollars here and there.
This ladies and gentlemen is how you make money in your sleep. At a very small level of course, but you get the idea.
What about the letting go of money part?
See the thing is most people are afraid to let go of their money, rather move their money into different accounts.
People find it risky if the money isn’t under the mattress or nice and safe in the savings account. We need to stop holding on to money so tightly and learn how to let it go so it can work for us.
This mindset makes us more money conscious
Exactly.
This mindset of letting go of money makes moving money into different account less scary which in turn grows your accounts.
#3. Invest In The Stock Market
Now that we’ve covered letting go of the fear to let go of the money, I strongly suggest that you learn how to invest in the stock market.
Note I said, “learn how to”, I didn’t say to invest in the stock market.
Reason being is once you’ve learned how to invest in the stock market you can then make the decision whether or not you want your money to earn you anywhere from 7%-10%+ on your investments (*smiles).
Read: How To Invest In The Stock Market (Step by Step)
What will investing in the stock market teach me? How does it make me more money conscious?
Investing in the stock market is going to teach you many great things.
- It’s going to make you feel great about investing your money.
- You’ll gain insight to the market and see the value of you money go waaaay up, and then up and down on occasion.
- Challenged to making tough decisions when it comes to buying and selling shares (calculated risks).
- Teaches you delayed gratification and patience.
Even if you don’t invest in the stock market, just learning about it will make you more money conscious in the sense that you’ll understand about alternatives that can literally multiply your money overnight.
If you do plan on investing in the stock market some day, we made this guide just for you: Best Tips & Advice For Beginners Investing In Stocks.
#4. Strive To Increase Your Income
Yes! My favorite one here. Let’s strive to increase our income.
This one is pretty easy to understand how it will make you more money conscious. If you’ve grown tired of going paycheck to paycheck that in itself should push you to increase your income.
When you strive to increase your income you’re actively putting intentions out in the universe. This is good!
How can I increase my income?
Well, that depends. You can increase your income by getting a raise or through a promotion at your job.
You can also increase your income through side hustles outside of work.
We have a page dedicated to side hustles which teaches our readers how to start their own online business, how to make money from home, how to start a blog, and much more! Click our side hustles tab at the top of the page or click here to read more.
While we’re here, don’t forget to subscribe to our newsletter! I personally email our readers every week with new posts.
#5. Get Into Sales
Some of you may be saying wtf. But, hopefully not lol!
Sales is a great way to expand your money conscious mind because it teaches you the fundamentals of making money based on results.
Sales won’t pay you by the hour. How much you make depends on how much effort and strategy you put into your work.
Once you learn this skill you’ll be able to make money anywhere without having to rely on an employer.
Step out of your comfort zone
Sales will teach you to step out of your comfort zone.
It’s challenging and uncomfortable but every moment of the experience is growth! Ladies and gentlemen, growth is progress and progress leads to success.
A position in sales forces you to grow. When you’re tired of not making any money it will force you to grow. When you’ve become stuck at a level it will force you to grow. You will never see money the same again. Especially when you’re a top performer.
#6. Continue To Learn About Money
What better way to become more money conscious than to continue to learn about money.
Not only are our readers continuously learning about money but even I’M learning more and more every day. My experiences and passion for finance has allowed me to share my knowledge with you.
I was just recently listening to a motivational video online and someone so beautifully said, “You’re never too old to learn, and you’re never too young to teach”.
Guys, I love this. I love teaching about finance and business. I’m obsessed with my work and my mission to educate our generation.
Where can I learn more about money?
Obviously from Franknez.com! I teach you about personal finance, how to earn leveraged income, how to invest, the importance of saving money, and how to have money work for you.
But,
I get my fix by learning from Dave Ramsey, Andrei Jikh, Graham Stephen, Robert Kiyosaki, and Richard Fain (just started watching him).
I also gain insight to business and sales (besides my own experiences) through Grant Cardone, Patrick Bet-David and Gary Vaynerchuck.
Watch YouTube videos and read books. There are so many platforms and ways you can continue to learn about money.
Final Thoughts
By becoming money conscious you’ll be able to better distinguish the difference between needs and wants when it comes to finances in your life.
The knowledge you gain from the experiences in this excerpt will help you make wiser choices when it comes to your financial security.
You will learn that money is merely a tool to help you progress in your financial journey.
Be sure to give this post a social share!
