When we’re broke, we focus all our energy on the fees and the debt, and we don’t focus on the growth mindset.
We’re so wrapped up in seeing how we could save money, believing we could escape that situation, and we don’t even realize that that mindset is what is holding us back from making money.
Jen Sincero, a number one New York Times bestseller author and a success coach, shares that it’s very difficult to move forward unless we stop and pay attention to the growth mindset.
She emphasizes that it’s all about turning around limiting beliefs we’ve got, getting clear on what excites you, and nurturing that excitement.
Table of Contents
Key Takeaways
- Lack of a growth mindset is what holds everybody back from making money.
- The killer is not realizing that your focus and mindset are just on saving money.
- Awareness is the key to freedom and a growth mindset. Remember that your perception of what’s available to you is happening within the framework of your current reality.
- Be the kind of person who can create that reality if it’s what you desire, as opposed to settling for what you can get.
- You have to take risks. You do not get out of your poverty life if you don’t take some risks. You don’t get out of any comfort zone if you don’t take risks.
- The growth mindset and money mindset aren’t about spending money. It’s about living the lifestyle I want and never having to worry about money.
- My inspiration to action involved a hell of a lot of fear and a growth mindset. I don’t think fear is bad. I believe you’re doing something wrong if you’re not scared. You will be scared if you’re going into unknown territory, so don’t let fear stop you. Just move past it.
- What is important to you? Put a dollar sign on that. Focus on the growth mindset to make it real and attach to it like hell-bent on glory and excitement.
- Specifics are crucial when it comes to money. You can’t just want money because on its own. It doesn’t mean anything unless you have a growth mindset. It’s about the experiences and the things that it gets you.
- Get clear on what excites you. Figure out how much it costs and then nurture that excitement through the growth mindset. Visualize it and just marinate in the throes of it, manifesting in your reality.
- Embodying wealth consciousness
- First, you must become aware of your broken record regarding money and the growth mindset.
- Questioning the beliefs that you hold as truths is the best way to free yourself from them and then replace them with new truths and the growth mindset that lights you up, gets you excited, and gets you fired up.
- Another is getting clear on what the growth mindset and wealth mean to you and what experiences and things you want money for that excite you, visualizing them, and getting emotional about them.
- You are getting very clear on the specifics of the growth mindset and repeating it repeatedly so that you can attach that emotion to it.
- Hang out with people who focus on the growth mindset and love money, who have a great relationship with money, who make money, who are excited to make money
- Read books about money. Get educated about money. Make it a project to focus on the growth mindset.
- An exercise you could do to change your money mindset is to write a letter to money as if it were a person and tell it how you feel. Pick your top two and work on the growth mindset. Replace your feelings with a feeling of love, excitement, and belief, and nurture those feelings.
- It’s all about turning around whatever limiting subconscious beliefs we’ve got that don’t allow us to have a growth mindset. That’s a great place to start and then do everything else we discussed. Visualizing what it is that you’re excited to create in your life financially and getting specific and emotional about it.
Transcription: The Growth Mindset – Jen Sincero
How To Develop The Growth Mindset
Luis Congdon
I used to suffer from overdraft fees, running up, racking up credit card debt, and constantly feeling broke.
I had to create some sort of breakthrough, and the first thing I had to do was create a money mindset and a growth mindset that supports wealth and money habits for success. On today’s show, we will discuss how you can live an abundant life with a growth mindset.
Kamala Chambers
The best person to come on to talk about this is Jen Sincero.
She is a number 1 New York Times best-selling author. She is a success coach who teaches the growth mindset. She’s helped her clients negotiate million-dollar business deals by helping them with a growth mindset. This woman travels the world speaking on stage. It’s so great to have Jen here talking with us about money, the growth mindset, and the wealth mindset.
Jen, it is so fantastic to welcome you to the podcast. Are you ready to launch?
Jen Sincero
I am!
Kamala Chambers
All right!
I know that you have a new book coming out called You Are a Badass at Making Money, and it’s about mastering the mindset of wealth. That’s something that I think would be beneficial to hear about tapping into the mindset of wealth.
Can you tell us a little bit about your process?
Jen Sincero
The book is inspired by the fact that I was broke forever, and my journey into self-discovery was basically around the financial piece because I didn’t have a financial piece.
I took a long, hard look at what was holding me back from making money, and the growth mindset held everybody back. We work our butts off, and we try everything, but we don’t notice what’s going on in our minds. It’s very difficult to move forward until we stop and pay attention to that.
Developing The Growth Mindset And Money Mindset
Kamala Chambers
I’d love to hear a little more about a money mindset. Was it getting into the mindset of wealth, and how is it beneficial to us?
Luis Congdon
I just want to say something, too, Jen, that what you’re offering with the mindset piece is incredible. I was ashamed to admit this, but I used to constantly have overdraft fees. I remember one time I had overdraft fees of about $500. They reverse like 300. However, when you’re that broke, it hurts, and then, we just keep repeating the cycle. The cycle kept happening to me where either overdraft fees or racking up credit card debt.
Kamala Chambers
I didn’t even know that about you, Luis.
Luis Congdon
That’s the old me.
Kamala Chambers
Good thing you didn’t tell me that on our first date.
Luis Congdon
Well, you’re with Luis 2.0.
Kamala Chambers
Yes.
Luis Congdon
You’ve made me into 3.0.
The thing here, Jen, is I understand that the growth mindset is important. It’s not just, “Go get a better job and have more money.”
We’ve seen people who make a million dollars but are still broke.
So, mindset is crucial, isn’t it?
The Growth Mindset Is Crucial
Jen Sincero
Absolutely.
When you think about it, you say you had all these overdraft fees and all this stuff. The energy around that could be focusing on the fees, the debt, and the feeling stuck. Having no way out and this cycle that you were in, which is one way to look at it, or you could have looked at it like, “I’m getting out of this thing. It’s possible for me.
Money is here for me. Other people have done it before. I’m going to do it.” In that very basic way, the energy around those two propels you to act differently. That’s a great example of what I’m talking about.
What happens is we don’t even realize we’re doing it. I don’t know about you, but when I was broke, I was so wrapped up in the identity of being broke and in seeing how I could save money and pull back. As opposed to opening myself up to the possibility that I could turn my life around instead of saving money, I should focus on making money.
If I spent all the time that I spent coping coupons, getting refunds, haggling and looking for the best deal, and driving across town to save 2 cents on a gallon of gas. I’ve spent so much time-saving money. If I spent that time working on my mindset, deciding that I could make money, getting excited about money, coming up with creative ways to do it, and taking risks, I’d be 10 times further than I am today.
Luis Congdon
Jen, I wish we had sound effects in the studio, and I could push a button and make all different sounds because some sort of sound wants to come out.
Awareness Is The Key To Freedom And The Growth Mindset
Jen Sincero
Cha-ching! Cha-ching!
Luis Congdon
Or, “Whoa!” like some kind of exclamation of a movie star going, “Whoa!” What you’re saying is powerful because I used to do that too. No joke.
At one point, I started trying to study like these super couponers. These guys spend about 100 bucks but get about $2,000 worth of the stuff. I studied Dave Ramsey, and I was so focused on saving money, but I also didn’t have very much money, so it was very hard to save money, and it just somehow kept that cycle deeper.
Jen Sincero
Exactly.
There’s nothing wrong with saving money, and I’m not suggesting anybody go out and blow tons of cash on stuff if you’re dragging out of a hole. However, it’s where your mind is and where your focus is, and the killer is that we don’t realize that we’re doing it.
So obviously, awareness is the key to freedom. Remember that your perception of what’s available to you is happening within the framework of your current reality.
When you take a quantum leap and decide to transform your life financially, you have to force yourself not to look at it from your current reality.
For example, I was living in a converted garage, driving a car that was held together by duct tape and fully across the board.
Getting Higher Frequency With The Growth Mindset
Jen Sincero
I write about this in You Are a Badass and in the first Badass book about one of my biggest breakthroughs happening when I needed a new car because the duct tape had worn off. It lost its stick, and my car was falling apart, and I had to buy a new car.
I was looking at cars. I say, “I’ve got to buy a new car.” I understood that I needed to be in a higher frequency and that I needed something that would raise the way I felt and perceived to I was and my world.
I was going to look at new cars even though that was ridiculously out of my price range for what I perceived for myself at that time. I was looking at Hondas, which are good cars. However, across the street from the Honda dealership was the Audi dealership, and I was like, “Well, I’m here, and I love to drive, and it’s one of my favorite things. I’m just going to go test drive. I mean, what the hell? I’m never going to buy one, but at least I’m going to test drive it because it would be fun.”
The second I got in that car and felt how good it felt, and I was like, “This is the kind of feeling that I want to feel.” I want to feel like if I wanted to buy this Audi, I could. It wouldn’t be a big struggle. It wouldn’t be available to everyone else except for Jen Sincero.
It was about the car because the car had meaning for me. I care about cars, but it was more about being the kind of person who could create that reality if it’s what I desire, as opposed to settling for what I could get.
So, physically taking myself out of the piece of crap cars, driving in and out of the converted garage. I’m putting it into a reality that felt so nice, exciting fun, and up-leveling in a way that if I could exist in that reality, everything in my life would change; it inspired me to buy that Audi.
I bought the Audi. I didn’t have any income at that time. I made a down payment on it because it was something that was important to me and had meaning. It kicked my butt so hard to go out then and triple my business, and I did.
Developing Problem-Solving Skills And The Growth Mindset
Luis Congdon
You’re saying something really powerful. I want to pause for a moment because I’m listening to you and thinking of the moments when I’ve done the same thing you’re talking about. Maybe it got me in trouble, and I’m thinking of some moments when it didn’t get me in trouble.
One of the things you said was powerful, and I just want to back up to it. You said something about solving a problem, but we can’t have the mindset we used to have the problem.
We have to completely change and shift. I wanted to back that up with a quote from Einstein. I had to look it up while you were sharing. “We cannot solve our problems with the same thinking we used when we created them.” You had to shift and I’m hearing you talking, I’m wondering if the secret is a big thing right now. Some people have a repulsion to it. Some people are really into it, but you’re saying it worked for you, and I know it worked for me.
Jen Sincero
It worked for me, but the big criticism of the secret is that I also took action. I didn’t just sit around and think, “Oh, would it be cool to drive an Audi? I can afford an Audi.” I freaking bought the damn thing. That scared the hell out of me.
That’s what I’m talking about. You have to take risks. You do not get out of your poverty life if you don’t take some risks. You don’t get out of any comfort zone if you don’t take risks. That’s the key, in my opinion. You must be willing to do things that make you uncomfortable to change your reality. Hence, the term comfort zone.
Association Between The Growth Mindset And Money Mindset
Kamala Chambers
I’m just curious about what the money mindset means because I take a different approach. I have been broke many times and was down to my last $5.
I remember getting into these situations where I didn’t have money for food or anything. I just felt like, “I’m going to give this last $5 away as a gift and just trust that something more is going to come in.” After that happened over and over again where I gave the last bit of money I had away and all of a sudden, new money would come flooding in.
I knew that I would always be provided for, that money would come, and I started living by that. I don’t live extravagantly, but I never worry about money. We travel the world, and to me, that’s not an extravagant thing. It’s really easy to travel and does not require a lot of money.
So for me, a money mindset isn’t about spending money. It’s about being able to live the lifestyle that I want and never having to worry about money.
I mean, maybe it’s something completely different from what you’re talking about.
Jen Sincero
No. It’s the same.
The Audi had meaning to me, and travel has meaning to you. I didn’t go out and buy a yacht and 6 mansions. If that had meaning to me, then that’s a different story.
Being rich is being able to afford whatever has meaning to you.
You could be living in yurt, spending zero dollars every day, and that’s rich. If that’s what you desire.
Jen Sincero
Yes, that’s the mindset piece, and then you take action to follow up that belief by creating the reality as opposed to believing it’s not there for you, so you have to scrimp and save, and you become an expert at couponing.
So, by you being down to your last $5 and giving it away, you truly are walking your talk. You believed it, and you took action on it, and things happened for you.
Does Fear Contribute To Developing The Growth Mindset?
Luis Congdon
I’m really curious. How do we get into the space of taking inspired action around spending and around things that relate to money? For a lot of my childhood and whatnot, I was very poor, and then, as an adult, I had this history of being poor. I know that I often took actions that I thought were inspired, but it was really out of fear of staying there, so I was trying to get out of there.
How do we begin to take this new inspired action because it’s such a big turn for some of us?
Jen Sincero
There is fear involved.
My inspiration to action involved a hell of a lot of fear. I don’t think fear is bad. Honestly, I believe you’re doing something wrong if you’re not scared. If you’re going into unknown territory, you’re going to be scared, so don’t let fear stop you. Just move past it.
You’re scared, but you are excited. You’ve got to connect to that feeling of excitement; for me, it was the Audi and becoming the kind of person who could create whatever I desired.
That was so exciting and so important to me. I knew I was going to do whatever the hell it took to get there. It’s really about attaching to the excitement with the help of the growth mindset.
When it comes to finances, it’s not just about “I want to make a million dollars.”
What’s that money for? For you guys, traveling is huge, so getting clear on how much your plane ticket costs? Do you want to travel first class, or are you okay with a coach? What is important to you?
Putting a dollar sign on that, making it real, and attaching it like hell-bent-for-glory excitement to it.
Specifics are crucial when it comes to money and the growth mindset. You can’t just want money because on its own. It doesn’t mean anything. It’s about the experiences and the things that it gets you.
Get clear on what excites you. Figure out how much it costs and then nurture that excitement. Visualize it and just marinate in the throes of it, manifesting in your reality.
Embodying Wealth Consciousness Through The Growth Mindset
Kamala Chambers
To me, wealth consciousness is really about trust. It’s knowing that the money is going to come in. I know I said that earlier and for me, I don’t want to be in debt at all.
If I want to buy something extravagant, I earn the money beforehand. I built my house because I earned the money before I even built it, and I saved it.
Luis Congdon
Where were you like 10 years ago? I really could have used you.
Kamala Chambers
Well, you have me now.
To me, that’s what wealth consciousness is. It’s living by the value of knowing that I’m going to be provided for.
I’d love to hear just a few more tips from you on wealth consciousness and how others can embody it. That’s what it is to me, but that doesn’t mean that’s what it’s going to be for everyone else.
Jen Sincero
I just want to quickly speak to the whole going into debt thing, and bravo! That’s amazing that you did what you did.
I did it the complete opposite way where I went into debt. I also hate being in debt more than anything, but it was that hatred of debt that fuelled me to knock it out of the park with my business because I refused to be in debt long.
It worked as an inspiration tool for me, but whatever floats your boat. Everybody does it their way.
Just wanted to say that in case there are any of you out there who would go into debt and would use that to sort of keep you like, “Ohh! I hate debt. I’m going to get out of this as quickly as possible,” and to inspire yourselves.
Kamala Chambers
Just like two roads on the same path.
Jen Sincero
Exactly!
Kamala Chambers
You went into debt. I didn’t want to go into debt, so we both worked our asses off to get where we wanted to be.
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Creating Awareness About The Growth Mindset
Jen Sincero
Exactly. Whatever works, I don’t care.
The first step is to become aware of your broken record about money.
We get it from our parents. I’m sure by listening to this, they have done lots of work on themselves. The subconscious programming that we get from society and our families is to take the time to sit down and list off all your beliefs about money.
We yell, “Yeah, yeah, yeah, I know that,” but have you done it? Have you sat down and written down your beliefs about money and then looked at them and noticed the ones that maybe are not so hot and reworked and questioned then? Questioning is how we get to the truth.
One of my biggest beliefs was, “If I’m going to make money, I’m going to have to do a lot of stuff I hate doing.” I was unavailable for that and yada yada.
I looked at it and said, “Well, is that true?” Like, “Have I ever made money doing something I enjoy? Yes, and have I read about or know rich people who do things they enjoy for money? Yes.”
Questioning your beliefs as truths is the best way to free yourself from them. Then, replace them with new truths and the growth mindset that lights you up, gets you excited, and gets you fired up.
Another great tool for wealth consciousness is getting clear on what wealth means to you. Get clear on what experiences and things you want money for that excite you, visualize them, and get emotional about them. When we are emotional about something, that’s when we move mountains.
So, getting a mantra, write down a quick sort of paragraph, “I see myself living in a house in New Mexico with a big view.” It’s like getting very clear on the specifics and repeating them so you can attach that emotion to it.
Overcoming Limiting Beliefs And Having The Growth Mindset
Jen Sincero
Even if you’re living in the converted garage right now, constantly bombarding yourself with the vision and the emotions of what you’re going for radically helps you raise your frequency. It allows you to become available to the tools and the growth mindset you need to make that a reality.
Hang out with people who love money, have a great relationship with money, and are excited to make money instead of people who fear it and constantly whine about how bad the economy is and how hard it is.
Choose who you surround yourself with to have a growth mindset.
Read books about money. Get educated about money. Make it a project.
If you were going to lose weight, you would go on a diet, buy good food to eat, go to the gym, buy clothes to exercise, and make it a project.
With money, we’ve made it taboo to talk about it. We somehow feel like we’re going to change our money story without really focusing on it because it’s not okay to focus on it. It’s like sex. We’re all supposed to be so good at sex but you’re never allowed to talk about it. God forbid.
You’re just supposed to know how to do it and I feel it’s the same thing with money.
Kamala Chambers
Good thing we talk about sex here a lot, right Luis?
Luis Congdon
We try to talk about everything because to be a complete human, you need to consider all these different elements and aspects of yourself and life.
If you’re not thinking about it and knowing yourself in these areas, then you’re probably not going to have success in those areas.
What you’re talking about, Jen, is powerful to have the growth mindset, and it reminds me of one of the interviews coming up here that we did with Kathryn Alice, and she’s a soul mate coach. I think she’s been to something like over 100 weddings and has helped people find lasting love.
Have Abundance In Each Aspect Of Your Life With The Growth Mindset
Luis Congdon
It’s been amazing to watch her work and to interview her. One of the things we talked about in that interview is spending time practicing and feeling what it would be like to be with the soul mate person.
You’re suggesting we do this with money, to close our eyes and imagine sitting in that beautiful home. Imagine what it would be like to wear those clothes or drive that car, and if you can make it real in some way, whether it’s going out and buying that car or maybe buying a little model of the ideal house you like.
In the movie The Secret, the guy created a vision board and had a picture of the house. We’re bringing Mark onto the show to talk about the experience and some of that.
What you’re saying is powerful, and I feel like one of the best ways we can close the show out is to give our listeners some homework. Jen, do you have some sort of exercise or some homework?
All of you guys listening. I want you to be rich. I want you to have abundance. We make this show for you so that you can have the best life possible.
So, when Jen gives you this piece of homework and advice, take some time. Come back to the show if you have to. Take a mental note of what time this was on the show or check out the homework.
Jen, do you have something in mind that you could give them to help them develop a growth mindset?
Knowing The Power Of The Growth Mindset
Jen Sincero
Sure.
One of my favorite exercises that I put in You Are a Badass is to write a letter to money as if it were a person and tell it how you feel about it. This will help you grow the growth mindset.
It could be like, “I wish you were around more,” “I don’t trust that you’re going to be there for me,” or “I get excited when I make you, but it also makes me feel kind of dirty. I don’t want to tell people that I made you.”
When you start writing it as if it’s a person, somehow, personifying it makes it easier, and you see what a freak show you have going on. All the push-pull that you’ve got going on with money, comes to the surface.
Jen Sincero
Once you’ve written the letter, pick the top two things that strike a chord when you’re like, “Oh my God. I didn’t realize that I felt that way.” Work on that. Work on flipping that feeling and replacing it with a feeling of love, excitement, and belief, and nurture those feelings.
It’s all about turning around whatever limiting subconscious beliefs we’ve got. That’s a great place to start and then do everything else we discussed. Visualizing what it is that you’re excited to create in your life financially and getting specific and emotional about it.
Kamala Chambers
I love that exercise, especially since I love writing letters. If you read my book, you know that I love letters.
That’s powerful. Thank you so much for coming and sharing the money mindset with us.
Thank you so much for coming on the show, Jen, and to all of our listeners, have fun mastering your wealth and growth mindsets.
Jen Sincero
Thank you. It was really fun.
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