Most people are taught to count every dollar they spend. They’re constantly overthinking purchases and trying to get the best deals they can.
Often, money experts will showcase how many hundreds per year we can save by foregoing our daily latte or cancelling our subscriptions.
But what if we’ve been thinking about money all wrong? What if the real secret to saving hundreds – or even thousands and multi-thousands – isn’t about cutting things out, tracking every cent and budgeting on spreadsheets, but more about transforming the way you think about money itself?
Mindset coach Renee Houtstra has spent years guiding entrepreneurs and top CEOs – some multi-seven-figure earners – through the labyrinth of money blocks, limiting beliefs and financial anxiety.
And she believes that your money mindset – the beliefs and stories you hold about money – plays a far bigger role in your financial health than your day-to-day spending.
The expert explained exclusively to the Daily Mail that shifting this mindset around money can ultimately unlock new financial opportunities and habits that lead to more saving, more earning and less stress.
‘In cognitive behavioral terms, your money mindset is the set of beliefs, emotions and attitudes you hold about wealth and spending – and these unconscious patterns shape how you behave every single day,’ she explained. ‘That can be in your job, when you’re out with friends, and even when you’re at home.
‘If you grew up hearing “money doesn’t grow on trees,” or watching your parents struggle financially, those messages embed themselves in your subconscious.
Mindset coach Renee Houtstra has spent years guiding entrepreneurs and top CEOs through the labyrinth of money blocks, limiting beliefs and financial anxiety
‘You might carry fear, scarcity or guilt around money without even realizing it. These emotional undercurrents drive decisions – from impulsive spending to hoarding, avoiding bills or sabotaging your earning potential.’
Here’s how you can simply shift your thoughts about money to boost your bank account in 2026, according to Houtstra.
Identify and challenge your beliefs about money
Houtstra explained that the first thing you have to do to change your money mindset is to ‘identify and challenge’ the beliefs that were instilled in you.
‘I always encourage people to explore their money stories honestly – don’t just tell yourself you have certain growth beliefs when, in reality, this isn’t how you act,’ she said.
‘What have you been told about money and people who earn good money? What was your childhood like?
‘Your past experiences shape present fears, and recognizing them can be the first step toward changing them.’
She explained that many people are taught a ‘scarcity mindset,’ which includes beliefs that money will always out of reach or that spending is dangerous since your money might run out.
She believes that your money mindset – the beliefs and stories you hold about money – plays a far bigger role in your financial health than the numbers in your bank account
But instead, she said you should practice something she called ‘abundance thinking.’
‘Abundance thinking is believing that there is enough and that opportunities for income and savings exist, clients report dramatic changes,’ she explained.
‘Shifting to this type of thinking doesn’t necessarily make you feel better, but it does rewire your brain’s reward system and decision-making pathways.
‘For example, someone stuck in [a scarcity mindset] might reflexively spend on “small treats” as a temporary comfort or hold back from investing in themselves or their business out of fear.
‘Once they embrace abundance, they become more strategic, seek opportunities and feel more comfortable investing in growth, which ultimately improves their financial outcomes.’
Make a plan, stick to it and hold yourself accountable
While changing your beliefs on money is vital, Houtstra said that alone ‘isn’t enough.’ Which is why her next piece of advice is to make a plan and stick to it.
And if you don’t, you must hold yourself ‘accountable.’
She said it’s important to make a plan, stick to it and hold yourself accountable
‘Thoughts can change your perspective, but action is what changes your habits,’ she said. ‘Making a plan and sticking to it is what breaks the cycle.
‘And accountability is the missing link for most people. You can recognize a money pattern all day long, but unless you hold yourself accountable to behaving differently, nothing in your financial life will shift.’
But don’t be so hard on yourself if results don’t happen overnight
Houtstra explained that another big problem that stops many people from overcoming spending problems is that they look at saving as being ‘purely about discipline or willpower.’
And if they don’t succeed, they feel like they’ve ‘failed on some level.’
But according to Houtstra, this negativity will only stunt you more in the long run, which is why it’s important not to be too hard on yourself if you don’t see a change overnight.
‘If you keep telling yourself “I’m bad with money” or “I’ll never get ahead,” your behavior will reflect that. The good news is, those stories can be rewritten,’ she explained.
Rather than cutting back on spending, spend with a purpose
Many people think cutting costs is the secret to boosting their bank accounts.
But Houtstra explained that ‘obsessively tracking every expense’ and ‘punishing’ yourself if you buy stuff isn’t the answer.
Instead, she said you should focus on ‘spending with a purpose,’ and buying things that ‘truly add value to your life.’
Many people think cutting costs is the secret to boosting their bank accounts. But Houtstra explained that ‘obsessively tracking every expense’ isn’t the answer (stock image)
‘One client was obsessively tracking every expense but still never had savings. We worked on shifting her mindset from punishment (“I’m bad for spending”) to curiosity and empowerment (“How can I spend with purpose?”),’ she recalled.
‘This shift led to practical changes: she started automating savings, negotiated bills and focused spending on things that truly added value to her life.
‘And this, in turn, ironically led to more money in her account at the end of each month.’
Practice gratitude for money already in your life and celebrate small wins
Houtstra explained that it’s important to be thankful about what you already have, as it will ‘boost your brain’s sense of abundance and reduce anxiety-driven spending.’
It’s also vital that you celebrate small wins when they occur.
‘Every time you resist an impulse purchase or negotiate a better deal, acknowledge it. Positive reinforcement rewires your brain,’ she explained.
She also suggested having ‘money dates’ with yourself every so often, which she described as ‘regular, calm check-ins with your finances, turning what can be stressful into something you feel in control of.’
Build a support team who share the same money mindset as you
Houtstra explained that having a support team can ‘counteract isolation and fear’ regarding money.
She also stressed the importance of getting on the same page about money with your significant other to avoid tension down the line.
Houtstra explained that having a support team can ‘counteract isolation and fear’ regarding money
‘Couples and families often have conflicting money mindsets, which can lead to tension and even secrecy,’ she said.
‘If you’re with a spender who knows you have a careful mindset, it could lead to purchases being hidden.
‘To get this out in the open, have open, non-judgmental conversations about money beliefs and goals.
‘Create family rituals around money that promote transparency and that everyone plays a part in and has some responsibility for.’
In the end, Houtstra said it all comes down to identifying a pattern, taking accountability to change it, and creating long-lasting habits.
‘If you can change how you think and feel about money, you unlock a ripple effect – better decisions, less stress, more opportunity and ultimately, freedom,’ she concluded.
