With a fixed mindset, you think they don't change throughout your life and thus perceive talent (i.e., what you're born with) as the key to achievement. A growth mindset is the opposite. You believe everything from your intelligence and capabilities to your overall lot in life is subject to change.
“I can't invest; I don't know how.” “I don't know how to get out of debt.” “Budgeting doesn't make sense to me.” “I don't understand how to save money each month.” Do any of those thoughts sound familiar? A simple and powerful way to shift your perspective is to put “yet” at the end of each sentence
Failure's a dirty word when you have a fixed mindset. However, not only is failure a natural part of life, but it's also (from the perspective of a growth mindset) a cornerstone of progress. As Dweck says, “In one world, effort is a bad thing. It, like a failure, means you're not smart or talented. If you were, you wouldn't need effort. In the other world, the effort is what makes you smart or talented.”
It's always tempting to hide from our failings and imperfections. However, no good ever comes from burying our heads in the sand. Instead, acknowledging, confronting, and embracing our issues and weaknesses is key to overcoming them.
Never forget that our brains can change throughout life too. A rapidly growing body of research shows they're amazingly malleable- a trait allows us to recover from brain injuries, grow new brain cells, forge and strengthen neurological pathways, and learn new skills.