An empowering episode with Money Mindset coach; Suzanne Alexander, bringing light to money mindset, what it is, where it comes from and what are a few things people can improve when it comes to money.
Before meeting Suzanne, I didn’t know about the concept of money mindset and just how important it is.
During our engaging conversation, we explored the essence of Mindful Finances, the prevalent issues women face regarding financial management, and the critical role of money mindset in personal wealth.
Suzanne introduced us to her transformative initiative—Mindful Finances—a concept birthed on her honeymoon and deeply rooted in being intentional with spending. It’s about distinguishing needs from wants and recognizing our behavioral patterns around money management. Through her 15-year journey, including eight as a financial advisor, Suzanne noticed a disconnect between clients’ financial goals and their behavior. This observation led her on a quest through financial coaching, delving into the psychology of money and understanding the whys of financial behavior.
The Aha Moment: Realising the Scarcity Mindset Suzanne’s pivotal moment came when she uncovered her own scarcity mindset—a belief system centred on “never enough.” This was ingrained from childhood, witnessed through a family that showcased a strong work ethic but a constant battle with scarcity. Her realisation spotlighted the crucial need to be aware of our reactions to money.
Money Mindset Decoded Arguably, the core of our discussion centered on the concept of money mindset. Suzanne detailed how our beliefs about money are set early, from infancy to the age of seven, where we operate on subconscious learning. In these formative years, we absorb money narratives from our environment that can last a lifetime. Updating these scripts requires awareness, education, and occasionally significant challenges or changes in our lives to rewire our financial thinking.
Women and Money: A Call for Empowerment Suzanne’s focus on women is fuelled by her desire to see women make informed, confident financial choices. Unfortunately, many women fall prey to the common mistake of undervaluing themselves in the workforce or in business. Another concern is the tendency of some to relinquish financial control to partners without active participation.
Three common financial mistakes Suzanne mentioned were:
1. Undervaluing oneself
2. Handing off financial responsibilities
3. Hitting financial goals with unsustainable intensity
She stressed the importance of valuing one’s worth, advocating for fair pay, and the imperative to take charge of personal finances. Also highlighted was the need for balance—especially for those interested in the Financially Independent, Retire Early (FIRE) movement—to maintain social connections while striving toward financial goals.
Money Conversations Matter: a crucial takeaway was the encouragement to discuss money openly. Conversations around savings, investments, and financial goals should not remain taboo, especially among women. Normalising these discussions can help unearth challenges sooner and foster a supportive environment for financial growth.
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I wish I knew that earlier 
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