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How to Get Money Motivated - Money Psychology
How to Get Money Motivated - Money Psychology
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Money Psychology

How to Get Money Motivated - Money Psychology

Njenga Hakeenah
November 24, 2021

It is highly unlikely that people will have long conversations without the issue of making money coming up. Rich and poor alike, no human being is ever content with not ever making more than they have.

And therein lies the motivation. Whatever drives an individual to want to make more, then that is their money motivation.

What is Money Motivation?

Money motivation is the drive that pushes one to seek more financial compensation. This is driven by many different reasons and factors for each person. One of the biggest money motivators is competition, though not everyone is seeking to make more money as a competition. Some just want to keep their heads above the debt flood that more often than not plagues many.

What Motivates People to Make Money?

As we have seen, there are many reasons people get money motivated. Some of the major ones include:

  • Providing for my family

This tops the list because families are big motivators for people to push themselves to do better in many aspects of life, finances included.

While it means and takes longer hours to make more money, the motivation is ensuring that one is able to successfully juggle work and family.

On another front, planning the future for children is also a motivator when one is seeking to make it comfortable for them. This is especially if they are used to a certain upbringing. In this case, the motivation will also be the need to teach them about money and finances.

In some cases, someone will be planning to take care of their parents. The love for parents could also be a motivator for one to make more than they currently are.

  • Retiring early

Retiring early is the other big money motivator since it is a goal for many people. For whatever reason that one would want to retire early, money remains the biggest hurdle. But once this hurdle is addressed, then it becomes easier to achieve this dream.

Early retirement is a motivator for those who cherish their freedom or just want to live not tied down to a job. There’s no better way to make more money than envisioning this freedom.

  • Pride

In life, accomplishments give us pride.

If money is a motivator, then we will pursue making more so that our sense of pride will be validated. Plans or dreams to make money when achieved could be a reason to make us proud.

  • Give a helping hand

Sometimes situations others are in leave us feeling bad because there is nothing we can do.

To make the society a better place even for the disadvantaged, there are people who will be motivated to make money so they can help people get out of poverty or their financial constraints.

Some may draw their money motivation from the need to donate some of it to uplift people’s lives.

  • Personal motivators

Often, people can be motivated by what matters to them and thus the money motivation could be a reward aligned with their values. Some of these could be recognition, a desire to win, satisfaction in getting a project completed etc.

Money motivation at an individual level varies from person to person.

  • Purpose

For people like Mother Teresa, their lives were lived for their purpose. Her self-sacrifice was purpose-driven. Mother Teresa’s personal values aligned with her purpose which motivated her. Creating positive results was more motivating than just keeping money in a bank account.

Why We Lose Motivation

There are many reasons why we may lose our money motivation but the biggest is if we feel like we’re not hitting our targets soon enough. 

This may dampen one’s drive but it is ok to feel this once in a while and as long as it does not become a habit, then we sure can make it.

Sometimes the pursuits to make more money can be draining in the short term but persistence will definitely pay.

Here are some tips to ensure that you do not quit:

  1. Set realistic goals

Financial goals are the first place to check if your motivation for making money is low because the key to staying motivated is to have a significant, relevant goal.

Consider the activities and tasks that you naturally gravitate toward in your daily life. You're probably motivated to accomplish these tasks because they have a meaningful reward attached to them.

In the same way, you should have a strong connection to your financial aspirations.

Ask yourself why you want to make more money and the answer to this will assist you in developing a more specific reason for boosting your revenue. Also, make your goals specific in order to get the most out of them.

  1. Start a side job

You can start a side business that you're enthusiastic about to keep yourself motivated to make money.

Having a side-hustle of your own is an excellent financial motivation, even if you're working full-time.

By starting a side job, you’re finally on your way to being in charge and can make decisions that matter.

Additionally, you're pushed by both external and internal motivation.

  1. Cut down on your expenses

At first, cutting down on your expenses may not seem motivating. However, cutting costs is a fantastic way to get started on your goals. When you spend less, it means you have more money which you can do much more with.

The savings you make can go towards your financial goals. This way, you'll get a taste of having more money and be driven to keep going.

And, spending less will improve your overall financial situation.

  1. What inspires you?

Lack of a community that is supportive is a common reason people lose motivation to work. If you only associate with unambitious people who are content with where they are, it may be difficult to stay motivated. 

Also, the internet is a wealth of fantastic tools. There is a wealth of personal finance knowledge available online, from books to YouTube channels to blogs and podcasts. Whatever you do, never tire of seeking inspiration.

  1. Mentorship

Learn from a mentor to enhance your motivation to make more. Mentorship is a powerful tool for achieving virtually any goal.

While peer learning is important, a mentor is someone who has already walked the path. Seek mentorship from someone who has already attained what you seek. This way, they can guide you with expertise and insight.

And when you have done everything, don’t get burned out by ensuring you take breaks. While it is hard to do this, it is vital for long-term success.

Taking time off helps you focus on your financial goals. Don't wait until you're stressed out to take a break. Take breaks throughout your days, weeks and years to allow yourself to be refreshed.


We are all looking to improve our financial situation. Whether what drives us is the need to survive, give our children a better financial future, support our parents financially, contribute meaningfully to charitable activities or just the need to climb the social ladder.

It is agreeable that these ambitions are what keeps us alive - they make life worth living. But sometimes we get disenchanted, lose motivation and feel like whatever ideal financial future we have defined for ourselves is just but an illusion. 

That is the moment that calls for an introspection into what really are our motivators and choose a path that best takes advantage of the things that make us tick. 

As we have seen, these motivators seem to all have an emotional element to them. Which underscores the fact that there are good emotions that can get us closer to our financial goals.

But there are also negative emotions that can derail this process. These include fear, guilt and shame - Have you experienced these in your financial journey? Learn more about them here. 

Njenga has over 8 years experience in multimedia and business journalism both as a writer, editor and producer. He has over 5 years of experience in radio broadcasting as a news reader, reporter and presenter. He is also a 2012 Earth Journalism Network-EJN Fellow.

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