Shift Your Mindset for the New Year to Reach Your Goals

The amount of financial advice that exists today can be overwhelming, and there tons of different strategies and tactics you can use to build a stronger foundation for your finances. If you’re struggling with your finances, you might think that all you need is more money to fix your problems. But what if what you actually need is a simple mindset shift? If you harbor a perpetual negative outlook on your potential for financial success, you might be experiencing the effects of a fixed mindset according to psychologist Carol Dweck. 

Those with a fixed mindset believe their capabilities are set in stone, and that the possibility for improvement is out of reach. With a fixed mindset, challenges appear insurmountable because you believe you’re incapable of developing the skills required to overcome new obstacles. This mindset keeps you stuck and limits your ability to reach your monetary potential. 

The alternative is adopting a growth mindset: believing that your talents and abilities aren’t limited by what you inherently possess, and that you’re just as capable of reaching financial success as anyone else. Choosing to view your financial roadblocks as opportunities to grow is a much more encouraging foundation to stand on, and increases the probability that you’ll find a way to overcome them. People with a growth mindset believe that just because they’re facing a difficult or unfamiliar situation doesn’t mean they can’t acquire the skills needed to overcome them. 
If you’ve been feeling stuck in the path towards financial freedom and success, take a look at this visual that expands on each tenant of a growth mindset and offers examples of how to start practicing it in your own life. Your financial dreams aren’t out of reach—sometimes you just need to change the way you think in order to realize your full potential.


The Different Types Of Finance Employers

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Commercial Banks

Commercial banks take deposits from individuals and make loans to corporations and governments. A lot of large commercial banks also take part in traditional investment banking, such as capital raising and trading. Common roles at a commercial bank include loan officer or bank teller, as well as investment bankers, security salespeople, and traders. Over the years though the lines between investment banks and commercial banks have blurred and there are very few ‘pure’ investment banks or commercial banks anymore.

Investment Banks

Investment banks normally specialise in giving strategic advice to governments, corporations, providing financing to companies, and other large institutions, and in buying and selling stocks, bonds, and other securities. Common jobs found at investment banks include investment bankers, security salespeople, and traders.

Real Money

Real money institutional investors invest money for an entity such as a pension fund, sovereign wealth fund, or insurance company in an effort to generate returns over time that will allow the organisation to meet its financial goals. Common roles at real money firms include investment analyst, portfolio manager or trader.

Hedge Funds

Hedge funds are similar to money management firms because they also manage money for institutions and wealthy individuals. But, they are often known for taking a little more risk than some of the traditional money management firms and are more focused on providing very high returns. Hedge funds sometimes have a broader mandate than traditional money management firms and have fewer restrictions on how they can invest.

Private Equity Firms

Private equity firms usually manage money for institutions and wealthy individuals. Hedge funds and money management firms normally buy and sell public securities private equity firms usually purchase entire corporations. Most employees at private equity firms are investment bankers, and their main functions can include analyzing potential purchases, negotiating deals, raising financing, or attempting to improve portfolio companies, operations and profitability.

Real Estate Firms

Real estate firms try to either develop new real estate projects or purchase existing projects in an effort to better manage them and increase the returns. Common finance jobs at a real estate firm include financing specialist, analyst or deal manager. Many leading private equity firms also invest in real estate such as Flambard Williams.

Money Management Firms

Money management firms manage investments for individuals or institutions. Big firms may manage a wide variety of asset classes while smaller boutique firms might focus on a particular market, such as small-cap stocks or high-yield bonds. Common roles at a money management firm include a security analyst or portfolio manager.


By combining the type of job you want with the type of organisation you want to work for, you will be well on your way to the finance career you are looking for. Keep pushing to reach your goal, no matter what it may be. Being the best takes time and is a lot of work, so you must have the patience and the determination in order to get where you want to be, successfully.