How to Improve Your Money Mindset – EP 244

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The way we see and handle our money can be traced back to our childhood. Money mindset is a listener favorite in the Frugal Friends and as always, we hear you. Things got vulnerable in this episode as Jen and Jill go through super tangible tips on shifting mindset by recognizing the common negative thoughts we would have about money and releasing beliefs that have held us back.

Growth mindset is always going to be helpful and advantageous to us than a stagnant mindset that might keep us stuck.


  • Ch-ch-ch-changes. Turn the beat around. Today we’re here for the changes. Mostly the good, beneficial changes. But even when the changes we experience aren’t that great this is your dose of motivational pep talk…  We can make shifts in our mindset and behaviors that benefit us. Whether we are making the change or the change is happening to us. Changes turning the beat around to make new possibly better, music. 

12 Negative Thoughts About Money That Are Holding You Back

It felt like someone went through our thoughts and compiled all of these negative thoughts we would usually have about money. A lot of the time the reason why we haven’t reached our financial goal is because of the way we think about our finances. This article from Business Insider talks about everything about that.

What Jen + Jill have to say:

The article is proving us wrong: there is not a minimum threshold and there is never a point where you don’t make enough to save. Jill did not deny how a lot of the claimed negative thoughts by the article were things she often told herself before too. Along with this, Jill shares she’s glad that she didn’t limit herself by what she perceived social work and helping others means. 

Jen reminds us that comparing our finances to others is the death of joy. Take small steps paying your debt (e.g school loan), checking your savings, and saving–in the Frugal Friends, we are big proponents of small steps. Anything you can put away will help secure your financial future. Although Jen agrees that it is sexy to hear about big steps such as getting paid off 6-figures within 9 months, it’s just not realistic and it’s okay to be ordinary.

4 Steps to Release “Limiting Beliefs” Learned From Childhood

Cognitive Distortions can also  be found in our financial lives. This article from Psychology Today laid out a therapeutic technique and intervention that can be done on your own, with a buddy or a psychologist to help you out. 

What Jen + Jill have to say:

Jen thinks acknowledging limitng beliefs is the hardest part in identifying these limiting beliefs from our childhood but what do we want? defending our limitations to the death or achieving our goals and desires?

Jill says to try out a different belief because you can always take it off like a shirt. Replace the limiting belief with something more beneficial and helpful for you. Lastly, as scary as it sounds, Jen believes we need to act as if our new belief is true so it manifests to the action we really want to approach these cognitive distortions.

Our limiting beliefs and how we overcame/are working on them

Jill’s “I’m poor” belief, recognizing what real poverty is, and looking at reality and where she wants to be. For Jen, it’s her scarcity mindset where her worth is tied to her income.

Bill of The Week

Thank you Allison for sharing your bill about non-routine expenses and how you save for it monthly!

Thanks so Much for Listening!

Thanks so much for listening! Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win:

68 pounds gone!!!!!

68.8 pounds of clothes going to the donation bin!

Congrats! Thanks for listening and if you want to check out our monthly challenge community head to to see what challenge we have coming up next.

Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉

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