1949: Nate Berkus on Entrepreneurship, Design, and Financial Confidence

What It Covers

Interior designer and entrepreneur Nate Berkus, in a 2015 interview republished on So Money, shares the financial philosophy behind his 20-year design firm, his Target collection strategy, how he vets financial advisors, and the daily money habits that reinforce his abundance-over-fear mindset.

Key Questions Answered

• •Fear vs. Abundance Mindset: Berkus built his design firm at age 22 on a deliberate decision to reject financial fear. He argues that anxiety around money — losing it, spending it wrong — is paralyzing and self-fulfilling. Choosing to operate from an abundance mindset, accepting mistakes as recoverable, creates the psychological conditions for entrepreneurial success.
• •Delegate Financial Tasks Early: Berkus's biggest early business mistake was believing he could manage both creative and accounting responsibilities simultaneously. Within his first design project, he recognized the error and hired a specialist. That same Chicago accountant, who incorporated his firm 20 years ago, still manages his finances today — a direct result of early, decisive delegation.
• •Vet Financial Advisors Through References and Relationships: Berkus selects financial advisors the same way he hires a nanny or dermatologist — through word-of-mouth, verified references, and direct observation of their performance for trusted mutual contacts. His advisor at Forbes Financial in New York was chosen after watching him manage finances for friends Berkus could openly discuss results with.
• •Physical Money Organization as a Respect Ritual: Berkus organizes all cash in his wallet by denomination, bills facing the same direction, every time he handles money. This repeated physical act — done multiple times daily — functions as a conscious reminder to respect money. He frames disorganized cash as a behavioral signal of disrespect toward one's own finances.
• •Long-Term Brand Positioning Over Short-Term Deals: When Target initially proposed one-off collections, Berkus declined. He held out for a long-standing, refreshable partnership, believing the brand needed runway to translate his design vision effectively. The result is a multi-season collection refreshed periodically, designed entirely in-house, built to mix with customers' existing possessions rather than replace them.