Your Friends Influence Your Finances Way More Than You Think

Fear-Based Mindsets Can Hold You Back

A fear-based mindset – sometimes called a lack mindset – is characterized by making decisions based on the fear of going broke. This can look like never investing money, out of fear of losing it. It can look like not paying to learn a lucrative skill, out of fear that you’ll never make any money off of it. It can also look like not paying for advertising for your small business, out of fear it won’t bring in clients.

Some expenditures are a true investment in yourself. You really do need to spend money to make money sometimes. But if you’re surrounded by people who are allergic to that saying, you might find yourself making fear-based, limiting decisions about your finances.

At some point, you have to take the leap and hope the net appears. In other words, you need to believe in yourself to invest money in yourself – whether that’s in your small business or a brokerage account. Friends who dwell on all the ways investments go wrong can hold you back.