Why having a positive money mindset matters for freelancers
Developing a positive money mindset is essential for freelancers because you’re not just doing the work—you’re running a business. This means taking control of your financial future rather than letting limiting beliefs hold you back. As a freelancer, your relationship with money directly impacts your:
Pricing strategy
A positive money mindset helps you price your services based on value rather than fear. You’ll feel confident setting rates that reflect your expertise and allow you to build a sustainable business.
Client relationships
When you believe in your worth, you attract clients who value your work. You’ll find it easier to have open conversations about budgets and negotiate fair terms.
Business growth
Understanding that money is a tool for growth allows you to reinvest in your business through training, tools, and support that help you serve clients better.
Overall wellbeing
A healthy money mindset prevents the feast-or-famine cycle by helping you plan for income fluctuations and set boundaries around your time and energy to get a good work/life balance. It also means you can afford to pay for things to increase the quality of your life and reduce stress levels.
“Get ‘organic raspberry confidence’—AKA having the mindset that what you do is deeply valuable (and if organic raspberries can be priced at something silly like £5 just for existing, you get to charge your worth). Putting your pricing in context (especially hourly rates!) is essential. Charging £60 an hour might make you queasy, but a massage therapist could charge £85, and you might think it’s a great deal! You are allowed to charge your worth.”
Eloise Leeson-Smith, Linguist & Speaker
Signs that your money mindset might need work
Your money mindset can keep you trapped in cycles of undercharging, overworking, and financial stress. The good news is that you can actively work to shift these patterns, and they can be reshaped with awareness and intention.
You might need to address your money mindset if you:
- Regularly undercharge for projects
- Feel resentful about client requests
- Avoid looking at your finances
- Take on work you don’t want out of scarcity
- Struggle to raise your rates
- Feel guilty about making lots of money.
Building a positive money mindset
The first step is the desire to build awareness and make a change. Understanding your current mindset is the first step to changing it. Then, put healthy habits in place and build systems to support them.
Step 1
Pay attention to the automatic thoughts and reactions that arise for you around money. When do you feel anxious, guilty, or defensive?
Step 2
Look for evidence that contradicts any limiting beliefs.
Step 3
Set clear financial goals and specific income targets split by month and week.
Step 4
Develop a strong emotional connection to what earning more money would mean for your life, health and future plans.
Step 5
Research market rates and talk with other freelancers about pricing and business models.
Step 6
Build systems for tracking income and expenses, setting aside tax payments, and managing cash flow. When you feel in control of your finances, it’s easier to maintain a positive mindset.
Step 7
Invest in your financial education and learn about business finances, pricing strategies, and wealth building. Understanding these topics reduces anxiety and helps you make confident decisions.
Step 8
Practice self-worth and remember that your rates reflect the value you provide, not your worth as a person. Focus on the results you create for clients rather than comparing yourself to others.
What will a positive money mindset do for you?
A positive money mindset isn’t about greed or maximising profit at all costs. It’s about creating a sustainable business that serves both you and your clients well. When you value your work appropriately and manage money wisely, you can focus on delivering excellent results rather than worrying about making ends meet.
Building a positive money mindset won’t be a linear path, there will be ups and downs and setbacks but keep making small steps in the right direction.
Remember that earning well supports your freelance success and allows you to:
- Deliver better work to clients
- Take care of your health
- Invest in professional development
- Support causes you care about
- Build long-term financial security
TASK: Write down what impact developing a positive money mindset could have on your life
