Conventional financial wisdom often urges us to track every penny, hunt for bargains, and cut out small luxuries like daily coffees. But what if this relentless focus on micro-spending is missing the point entirely?
According to mindset coach Renee Houtstra, who has guided entrepreneurs and multi-seven-figure CEOs, the real key to saving hundreds or even thousands isn't found on a spreadsheet. It lies in transforming your fundamental beliefs about money itself.
The Power of Your Money Mindset
In an exclusive discussion with the Daily Mail, Houtstra explained that your money mindset – the collection of unconscious beliefs, emotions, and attitudes you hold about wealth – plays a far greater role in your financial health than daily expenditure. "In cognitive behavioral terms, these unconscious patterns shape how you behave every single day," she stated.
These beliefs are often formed in childhood, influenced by phrases like "money doesn't grow on trees" or witnessing parental financial struggles. "You might carry fear, scarcity or guilt around money without even realizing it," Houtstra warned. "These emotional undercurrents drive decisions - from impulsive spending to hoarding, avoiding bills or sabotaging your earning potential."
How to Rewire Your Financial Thinking
Houtstra outlined a clear path for shifting your mindset to boost your bank account in 2026. The first crucial step is to identify and challenge your deep-seated money beliefs. She encourages honest exploration of your "money story," including childhood experiences and inherited attitudes.
Many people operate from a scarcity mindset, fearing money will always be out of reach. Houtstra advocates shifting to abundance thinking: the belief that opportunities for income and savings are plentiful. "Shifting to this type of thinking... rewires your brain’s reward system and decision-making pathways," she explained. This shift leads to more strategic behaviour, like seeking opportunities and investing in growth, rather than relying on small treats for comfort.
However, changing thoughts alone is insufficient. Action and accountability are the missing links for most. "Making a plan and sticking to it is what breaks the cycle," Houtstra emphasised. You must hold yourself accountable to new behaviours for real financial change to occur.
Beyond Cutting Costs: Purposeful Spending and Support
Contrary to popular advice, Houtstra argues that obsessively tracking expenses isn't the answer. Instead, focus on spending with a purpose on things that add genuine value to your life. This approach, coupled with automating savings and negotiating bills, can ironically lead to more money left over each month.
She also highlights the importance of practicing gratitude for the money you already have and celebrating small financial wins, which reinforces positive new patterns. Regular, calm "money dates" to review finances can transform a stressful task into an empowering habit.
Finally, building a supportive team with aligned money mindsets is critical, especially within families and couples. Open, non-judgmental conversations about money beliefs and goals can prevent tension and secrecy, creating a transparent financial environment for everyone.
"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," Houtstra concluded. The journey requires identifying patterns, taking accountability, and building lasting habits, but the potential reward is a fundamentally healthier and more prosperous relationship with wealth.
