How to Overcome Financial Problems: From Mindset to Action

Topics: Reading time: 7 minutes

Are you struggling to manage your money and overcome past financial problems? Don’t worry, you’re not alone.

Financial problems are one of the most common sources of stress today. You and millions of others are going through this right now, and we can overcome your obstacles together.

We know how you feel, and we’re here today to let you know this is your chance to only move upwards. With some changes in perspective and a few positive actions, you will take control of your finances for good!

Solving your financial problems means overcoming your current state of mind and creating a plan to move forward.

The root of your financial problems is your mindset, and that’s something we can change today! By changing how you think about money, we can create real-life habits you can use every day. Even small steps add up to big changes!

Are you ready to make a change for good? Let’s get started.

Money Mindset: Adjust Your Perspective

The first step is simpler than you think once you take a few steps in the right direction. You’ve gotten into the habit of thinking about money in a certain way, and now you have the chance to change that habit for good.

When we’re experiencing financial problems, it’s easy to blame others or even the world. It’s easy to think if only you had more money, then things would be better.

The reality of your financial situation is that it’s about more than the number in your bank account.

Yes, having more money would be nice, but it’s not about the number in the bank or how much you take home each week. It’s about what you do with the number you already have.

You need to transform your money mindset so you can start a new chapter in your financial timeline.

Here are 4 real ways to change your mindset about money that you can do today:

1. Forgive Yourself

When you forgive yourself, you have a chance to grow. Think of all the resentment and pain you carry with you about your past money habits. Maybe you’ve spent more money than you had at the time or you didn’t budget properly in the past.

You might even be repeating the same patterns with money that you saw during your childhood.

Recognize these feelings, and allow yourself to process them. If you’re feeling bold, write down all your painful memories about money.

How does money make you feel?

Why does it make you feel this way?

A lot of us carry heavy emotions about money. Whether we grew up with too little money or too much money, these feelings can burden us in adulthood.

Finally, you need to forgive yourself. Give yourself permission to feel these feelings, and then let them go.

These feelings and memories might still strike you from time to time. Commit to no longer allowing yourself to pass judgment on them. Face your feelings, and move on. You can’t change the past, but you can change tomorrow.

You will overcome your past feelings about money to make a future for yourself.

2. Change the Way You Talk About Money

How often do you catch yourself saying things like “I’m so broke” or “Making money is too hard?” These feelings are valid, but you’re writing yourself a negative narrative. Realize you’re the author of your own story. Do you want to be the victim of some corrupt system or the hero who saves the day?

The next time you catch yourself saying you’re so broke, replace it with something positive. Take a moment to reflect on what you are thankful for and the things you do have.

Change your story in the moment. Instead, say something like “I’m thankful for my family and friends” or “I am making positive choices about money.

Once you start replacing these negative thoughts, you’ll no longer feel trapped by your finances.

3. Analyze Your Spending

How often do you avoid looking at your bank account because you’re afraid of the number that will greet you?

You’re not the only one who does this, but it’s time to take accountability for your own finances. Don’t worry, it’s not as scary as it sounds! Take a good, hard look at your spending.

Sometimes you’re so close to your own actions that it’s hard to recognize what you’re spending money on.

Download a money management app to see a stress-free breakdown of where your money goes each week!

4. What’s Holding You Back?

You need to keep negative mindsets away from your daily thoughts.

One of the most common mindsets that get in the way of saving is the “treat yourself” mindset. How often do you reward yourself with a “treat” during the week? Do you get fancy coffee on the way to work or a new pair of shoes after a long week?

While it’s great to practice self-care, buying material things are only a temporary fix.

If you’re suffering from the “treat yourself” mindset, find new ways to reward yourself. Thinking of impulse purchases as “treats” is a slippery slope, but one you can recover from.

Another mindset that’s especially common today is “faking it.” How often do you feel pressure to buy things because they’ll make you appear wealthy and successful?

Again, this comes down to value. Happiness is drawn from experiences and relationships. How can you weigh success on terms that matter to you?

These 4 mindsets above are the foundation for a successful financial future. If you want to overcome your financial problems, you need to be proactive with your mindset.

It’s okay to slip up every once in a while, but make it a priority to clear your mental space. It might take some time to develop a healthy relationship with money.

You might still feel pressure to look “successful” on social media. As long as you recognize that your mindset is key to a successful financial future, you’re on the right track!

Money Action: Steps for Success

As we said before, your mindset is important. It’s so important that you should ensure you master your thoughts before you start incorporating these actions into your routine.

Going through these steps with a positive attitude will keep you going strong even when the going gets tough! Overcoming your financial problems is easy. Baby steps, remember?

Start where you feel comfortable and push your boundaries little by little! We’ll get you to top shape in no time!

Break Up with Your Credit Cards

In this digital age, it’s common to swipe credit and debit cards with reckless abandon. Heck, things like Apple Pay and Android Pay make it even easier to spend money without even pulling out your wallet!

This kind of passive spending is certainly easy, but it also paves the way for bad money habits. Start breaking up with your credit cards by putting them away for at least 2 weeks.

Paying with cash makes it easy to see if you’re spending too much in the moment. You might find it’s harder to part with those few dollars for coffee every day when you have to hand over cash!

Purge Your Expenses

Let’s face it: we all like to have nice things. We like to watch our fancy cable channels and we like to go out for nice dinners.

These expenses might be fine every once in a while, but they can quickly become a problem if they’re a regular expense.

Review your monthly expenses and see what you can get rid of.

Do you really need cable when you already pay for Netflix? How can you keep your necessary expenses down in the meantime? Even turning the A/C up a few degrees in the summertime chops dollar signs off your monthly spending!

Build an Emergency Fund

Bad things happen. While we can’t predict tomorrow’s emergencies, we can prepare for them today.

Maybe you’ll face a medical emergency or you’ll lose your job. The best thing you can do is prepare for the unpredictable with an emergency fund. An emergency fund is money that you keep separate specifically for unexpected expenses.

Without an emergency fund, you’ll likely use credit or loans to pay for unexpected problems!

This is a dead-end street to more financial trouble! Before you start paying down your debt, you need a secure emergency fund. This will act as a much-needed safety net in case you’re ever stuck with an unexpected bill or expense!

Create a Budget

Creating a budget is key to overcoming your financial problems. It might sound easy and straightforward, but a lot of people struggle to create a budget they can stick to.

The key to creating a budget is to be realistic.

Is it really possible to spend less than $50 a month on food? Maybe, depending on your situation, but hold yourself only to a budget you think is possible. Be honest with yourself about how much you need to spend every month.

You’ll probably have to give up a few luxuries like lunches out or new clothes, but it will be worth the extra effort. You’ll likely realize more important things were worth it all along!

Hustle, Hustle, Hustle

Even if you do all the steps above, you might still find yourself trying to fill in the gaps in your income.

Your day job is far from a limit!

In this day and age, there are a number of ways to make extra money as long as you’re open to hustle! You can freelance on the side if you have a valuable skill or even take a second job part-time.

With the rise of smartphones, flexible employment is easier than ever. From driving for Ola or Uber to delivering for PostMates, extra money is just a few clicks away.

Be creative with how you make money! You can gain career experience and have a great time while you earn.


Your efforts will become second nature. Once you reach your financial goal, you’ll be empowered to keep going with your positive impact. Overcoming your financial problems is an ongoing process.

Along the way, you’ll reevaluate what matters in your life! You’ll come to see experiences and relationships as worth more than material things. You’ll no longer crave the material luxuries of yesterday and find joy in the little things.

Committing to a lifetime of financial awareness means committing to a lifetime of success!

Making a Financial Change

Making a financial change starts with you! It is easier than you think to overcome your financial challenges!

Debt Busters has been helping Australians overcome their financial struggles for over 15 years.

We’ve seen firsthand that it is easy to turn your life around as long as you’re willing to take the first step. We are here to help you on your way to financial success!

Fill in the contact form below to arrange a consultation or call us on 1300 368 322 for more information! Your success is just a few clicks away!

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Debt Busters is an Australian owned business which was founded in 2005 - since then we have been able to help thousands regain financial control.

Debt Busters prides itself on providing a dedicated Client Service Manager to work closer with you and provide a higher level of customised service about your situation.