Back to blog

How to Build a Financial Mindset for 2021

What are you looking to change heading into the new year? Cultivating a financial mindset is something everyone is capable of doing, it just might take some personal reflection and perseverance. The right mindset can get you through anything and can help put you in a better financial position a year from now. Build a financial mindset you can head into 2021 with by reading the steps below.

1. Developing a positive mindset

There are always going to be things you can’t control in your life, like 2020’s pandemic. What you can control, however, is your approach to handling the different situations you are going to encounter. As you head into the new year, try not to look at bills or payments as inconveniences. Learn about where you are spending your money and work towards a point where you can justify your financial difficulties.

2. Be prepared

One of the biggest parts of a healthy financial mindset is understanding your spending habits and what financial obstacles are ahead of you. If you know you will be looking to buy the latest fashion trends each fall, plan that into your yearly budget. Some life choices also make for some financial changes. If you’re thinking about moving out or finally starting a family, having a mindset that’s prepared for the financial consequences is important.   

3. Staying motivated

There are always going to be hiccups that are going to test your financial mindset. The trick is to stay motivated, learning from your past financial mistakes and growing is the exact mindset that will put you in a better position a year from now. Make sure you are rewarding yourself along the way, once you hit certain financial goals celebrate your accomplishments!

4. Be grateful

It’s important to remind yourself what you are grateful for in your life. Focusing on what you do have can relieve some stress about the future. Your financial mindset can continue to grow in the right direction when you start to focus your time, energy and money on what makes you happy.

Most importantly, you don’t have to go through 2021 alone. Radius Bank customers have numerous financial resources to help them reach their financial goals. Take advantage of Goalkeeper to help you save efficiently or understand you spending trends with your personal financial management tools. Ready to tackle that financial mindset? Head over to our blog post on how to set those financial goals for 2021.

About the author

Kathleen Barrett

As the Vice President of Marketing at Radius Bank, Kathleen has had experience in the financial services industry for over ten years. Ten years ago, while working for a non-profit focused on helping consumers work their way to financial freedom, Kathleen found her passion for financial education. Her current role puts her at the forefront of online banking trends, allowing her to share her expert advice for your personal financial needs.