If you earn a decent income but still find yourself struggling with money, you’re not alone. It’s frustrating to work hard, bring in a solid paycheque, and still feel like you’re constantly falling behind. You might be thinking, “How is this possible? I earn enough, but somehow it’s never enough.”
The truth is, financial stability isn’t just about how much you earn. It’s about the habits you form with your money and, most importantly, the mindset you have around it. If you’ve been experiencing financial hardship despite a good income, this blog is for you. We’ll explore why these two things—your mindset and your money habits—are the key to breaking the cycle and finally getting ahead.
Earning Well but Struggling? You’re Not Alone
Many people assume that earning more will automatically lead to financial freedom. But in reality, without the right mindset and habits, earning more can simply lead to spending more, more stress, and the same old money struggles.
In fact, according to research, 35% of UK households earning between £50,000 and £100,000 still feel financially insecure, and many report feeling stressed about their finances. This shows that even those with higher incomes can face financial difficulties if they don’t have the right money mindset and habits in place.
You may have noticed patterns like:
Spending more when your income increases but not saving more
Feeling anxious about money despite having a steady paycheque
Relying on credit cards or loans to fill gaps at the end of the month
Not knowing where your money goes each month, despite having a budget
A recent survey found that 60% of Britons do not feel in control of their finances, with many blaming poor money management habits as a major source of stress. These patterns are common, and they’re often the result of underlying beliefs about money combined with habits that don’t serve your long-term goals.
Why Mindset and Habits Go Hand in Hand
Here’s the important thing to understand: earning more money won’t fix poor financial habits, and changing your habits won’t stick unless you shift your mindset. The two have to work together:
1. Mindset: Your Beliefs Shape Your Financial Reality
It’s easy to blame financial issues on not earning enough, but the truth is that mindset plays a huge role in how we manage money. If deep down you believe that money is stressful, that you’re not good with money, or that you don’t deserve financial success, those beliefs will shape the way you handle your finances—no matter how much you earn.
For example, if you believe you’ll always struggle with money, you might:
Spend impulsively as a way to avoid dealing with financial stress
Avoid checking your accounts or creating a plan because it feels overwhelming
Feel guilty about having money, leading to overspending or poor decisions
Shifting your mindset to one of confidence and abundance is the first step in breaking free from these patterns. It’s about believing that you can manage your money well and that you deserve financial freedom.
2. Habits: The Small Changes That Make a Big Difference
Once you start shifting your mindset, the next step is to work on the habits that will support your financial success. Good money habits are the foundation of financial stability, no matter how much you earn. Without them, even a large income can slip right through your fingers.
A Money Advice Service study found that nearly 50% of UK adults don’t keep track of their spending, which can lead to unexpected financial difficulties. This shows that regardless of income level, money management habits are critical.
Here are some key habits that can help turn things around:
Tracking your spending: Knowing exactly where your money is going is the first step in making sure it’s working for you. Start by tracking every expense for a month and see where you can make adjustments.
Creating a budget that works: A budget shouldn’t feel restrictive—it’s a tool to help you prioritise what’s important. Make sure your budget aligns with your goals and values, and stick to it.
Paying yourself first: Make saving a priority. Set up automatic transfers to a savings account as soon as you’re paid, so you’re not tempted to spend everything first.
Limiting lifestyle inflation: As your income grows, it’s easy to start spending more. Be mindful of how your spending habits change when you earn more and stay focused on your long-term financial goals.
The Power of Combining Mindset Shifts with Habit Changes
When you combine a mindset of abundance and confidence with practical financial habits, that’s when real transformation happens. You start to feel more in control of your money, less stressed, and more empowered to make choices that align with your financial goals.
Here’s how the two work together:
A positive mindset helps you stay motivated to stick to good habits and trust that they will lead to success, even when it’s not easy.
Good habits provide structure and stability, helping to reinforce your new mindset and keep you on track for long-term success.
The result? You stop feeling like you’re drowning in financial stress, and instead, you begin to experience a sense of security and freedom, no matter what your income is.
Ready to Make the Shift? Join My Free Facebook Group
If you’re ready to stop struggling with money and start taking control of your financial life, I invite you to join my free Facebook group, The Money, Mindset, and Success Accelerator. In this group, we focus on the mindset shifts and habits that can help you break free from financial hardship, even if you’re earning well.
In The Money, Mindset, and Success Accelerator, you’ll learn:
How to shift from a scarcity mindset to an abundance mindset
The habits you need to create lasting financial stability
Strategies for saving, budgeting, and building wealth
How to feel confident and in control of your money
You don’t have to keep struggling. By shifting your mindset and adopting smarter habits, you can create real financial freedom—no matter what your income looks like.
Click here to join us: The Money, Mindset, and Success Accelerator
Let’s start transforming your financial future together!
