Your Million-Dollar Mindset

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Staying with the topic of money for one more day, let's have a closer look at how your money personality may be showing up. The following are notes I took at a money 2.0 seminar for entrepreneurs held by Monica Shah, and I hope you find them helpful. 


In order to understand money, we have to become comfortable talking about it.

In order to be able to talk about it, we need to understand our relationship to money. In your own minds, or on a piece of paper if you like, complete these sentences:

  • When I see something I absolutely love that is super expensive, I say to myself:
  • When I look at my bank account and there’s less money than I thought, I say to myself
  • When someone asks me what I make in a year, I say to myself
  • When I hear that someone made over a million dollars, I say to myself

Is there a different money voice in your head than what you say out loud? How do you feel about your inner money voice?

One of my biggest take-aways from that seminar was that numbers are just information, not judgment on who you are or where you’re going.

For example, if you take your baby’s temperature, and the thermometer shows 97, you’re fine. If you take your baby’s temperature and the thermometer shows 99, you might consider giving it a kiddie Tylenol. If it shows 102.5, you don’t yell at your baby for having a fever! You take the number as information that you should probably get him to a doctor.

Stop yelling at yourself for having “bad” numbers. Just like you’d give your baby a cloth or take him to hospital – you can decide to stop spending, start saving, or get your hustle on.

The numbers are about the baby’s past, not its future. The baby’s not going to be sick rest of his life – and neither is your bank account.


Monica identified four money types, and with our psychological type information, we know that they may map onto our Temperaments and preferences. She calls hers:

The avoider, the saver, the spender, and the martyr.


  • Majority of entrepreneurs in first year
  • Unclear about bills, doesn’t like numbers
  • Unclear about how much money is coming in
  • Don’t understand the relationship between money and what you have to do to get what you want.
  • Magic of manifestations, “knowing numbers would ruin magic”
  • Numbers can magnify what you can create – power is within you.
  • ACTION – know your numbers, use systems/reports to enhance clarity, have money dates – look at your numbers once a week
  • Mantra: My numbers aren’t who I am today.


  • Joe Cool about money
  • Probably no debt, but if so there's a plan how to pay it off; savings
  • Clear what you’re willing to spend money on
  • Playing it safe, not taking risks
  • “I’m proving myself”, I’m a good person
  • Whose approval are you looking for?
  • ACTION – spend within 30 days, holding on too tightly stifles flow of ideas & opportunities. Start a “FUN” account, goal is to put money in a fun account every month – consistent rule. Your job is to spend that money within 30 days. On yourself. Build muscle of knowing that it’s ok to spend and that there’ll be more coming to spend in the future, too.
  • Mantra: Money is energy, and all energy is in flow. Don’t let it stagnate or it can’t come back to you.


  • So much fun to be around
  • They’ll get you to buy things, too
  • Often in debt, rationalizes spending, e.g. it’s for learning, only one more book…
  • Spend for emotional reasons, not the real one behind it, think there’s a connection to love, approval, having friends
  • Is there over-spending in one particular category? E.g. clothes, rent, food… make a budget for that area. You’ll feel more empowered and in control.
  • ACTION – money advisor & budget, recognize how you make decisions about spending from emotional place. Heart, head and mind may give mixed messages; advisor helps better understand money-spending decisions. Make sure they’re objective and no personal agenda, i.e. not your partner.
  • Mantra: “I can have money or love/approval/acceptance”


  • Good at what they do
  • Have trouble accepting money for what you do
  • Everybody is a friend and should get a discount
  • Hard time owning own value
  • “There’s something wrong with asking for money.”
  • Inner voice about fraud / value system / spiritual alignment
  • Needs to be worked on and healed so you can enjoy receiving
  • ACTION – script sales calls & practice positive expansive growth money voices. Say “it’s $500” (or whatever the cost) and hit the mute button. Let the amount sink in, give your client a moment to process. Say whatever you want while you’re off air.
  • Mantra: If I make more, I can do more.  

Have you identified your money type?


Let’s recap:

  • Numbers are just information.
  • Money loves to be understood.
  • Money loves clarity.

By the way, it’s ok to wish it were easier, but there’s simply no use in resisting. 

Just remind yourself of why you want to make more money? What’s your desire?

Desire drives behavior.

Set that intention.