If you’re struggling to create the level of wealth you desire, the issue might be limiting thoughts. For many years, I had limiting beliefs about earning money in my own business. I thought I had to work for another company or person to do it. When I realized I had talents and people would seek me out for what I could do, I realized I was only limiting myself in my thoughts.
It’s easy to blame your job, your ex, or dependents and limited time for your financial debt, but I want you to consider something. There is a lot of money in the world right now. There are many people who have disposable income AND those same people need your talents and gifts. You have all the ability in the world to get clients who will spend money with you, even more than what you could ever spend. But, first things first – it is important that we work on getting your mindset right so that you can accomplish your money goals.
See how some limiting beliefs about money affect the results you experience:
1. “Money is the root of all evil.” If you believe that money is evil, and have a negative thought about it, you are subconsciously blocking yourself from getting more of it in your life. A lot of us have strong reactions to money, and considering it to be evil, will cause you to block it from coming more into your life.
● Solution: In truth, money is an exchange of value. Money given to you is saying, “I value you.” It is a respect between two people by offering support for a person’s lifestyle and basic needs. The money exchanged goes to help the person who receives it to support their life with food, shelter, and other needs, as well as their family. It is really saying, “I respect you and the time you spent on doing this for me.” There’s nothing inherently evil about a piece of paper, a metal coin, or a number associated with a bank balance, or about supporting another person by giving them money. Use the money beneficially and there will be nothing evil about it.
2. “Only greedy people want a lot of money.” It’s true that there are greedy people that want a lot of money, and sometimes they stop at nothing to get it, seemingly to not have a moral compass. But, if you are reading this, then you are truly trying to find your moral compass and value in money. There are a lot of respected people who also earn money and live a peaceful, authentic life. If someone has an idea, or desire to earn money doing what they love, there is nothing greedy about it. Shouldn’t everyone be able to do the work they love doing?
● Solution: Realize that money can give you the means to create the life you want. It gives you options. It brings you freedom. These are things everyone wants and needs to survive. Money helps to bring quality of life to you and your family.
3. “People won’t like me if I have a lot of money.” Are you worried that you’ll be lonely or scorned for having money? If so, you’ll struggle to create wealth. If you get money coming in more people will like you and want to know how you did it or if you would pay for their services! You’ll be more popular than before. But, of course, spend money wisely and choose those people who you feel will truly support you in the services you need. When you do have money, though, people look up to you as a leader and want to learn from you.
● Solution: There are people that wouldn’t like you if you dyed your hair red. Others would start liking you if you changed your hair color. Everything you do may create new friends and lose others. Live your life in the best way possible and you’ll have good people around you. If they don’t like you just because you have money, then they were not your friends in the first place. Those who are truly your friends, you can go out with and even treat them with some of your money occasionally.
When we have money coming in, that’s what Brent and I do. We host a dinner and have our friends and their families over to share and enjoy time together. Or we take the girls to do something as a family.
4. “I’m not good with money.” Believing that you can’t manage money will stop you from accumulating it.
● Solution: Learn how to manage your finances. Instead of using this excuse, try finding ways to manage money. You can keep a money journal or diary, use a software program to help you manage your income and expenses, or hire an accountant or investor to manage your portfolio. There are so many good books and websites on the topic. There’s no excuse for anyone not to have the knowledge necessary to handle their money well. You can learn anything that interests you.
5. “I grew up poor.” If you grew up poor or spent a significant portion of your adult years with little money, it’s possible that you’ve become comfortable with this economic situation. You might not be happy about it, but at least you know how to manage it.
But there are several people who decided to change their situation. Take Dolly Parton, for example. She grew up with several brothers and sisters in a one-bedroom house. Once she decided to go solo in her singing career, she earned a steady income and it’s still going strong.
● Solution: Sometimes you have to take a risk and try! Try out your ideas, go for a new career, do something to overcome this limiting belief. You can always go back to your previous lifestyle if having money isn’t right for you.
6. “I’ll have time when I’m older to worry about finances.” This is a huge money block. Time matters a lot when investing. Waiting too long to get serious about saving and investing can ruin your financial future.
It’s better to plan things out now and secure your financial future with a plan. Waiting until you’re older could be too late. As you get older, more things can happen to your mind and body that could limit your ability to earn income. If you are working now, or in business, start planning and setting aside some now to save for the future. You’ll be glad that you did when you need it!
● Solution: Find and play around with a savings calculator online and realize how powerful time and compound interest can be. Even if you save your money in your bank’s savings account, have it earning a little bit of interest for the future. If you can even put away $25/week into your savings account, that adds up quickly and can be saved for a big expense when you need it.
7. “I’ll just give it all away.” A lot of people say this when they feel guilty about having money. They often see people in other countries that are malnourished, and think they do not deserve money as compared to these people. While yes, there are malnourished people all around the world, you are only seeing a small portion of these people’s lives. What could it be like in reality?
● Solution: What about your own life? What about your children’s lives? Don’t they also deserve to have food and nutrition? While it’s good to donate some money to others, you also have to consider yourself and your family and how you can support them by saving and keeping your money.
8. “I don’t deserve to be wealthy.” If you don’t think you deserve it, you’ll struggle to achieve it. There are usually subconscious blocks around this belief that extend back to a past life, and sometimes to events that have happened in this lifetime. Oftentimes, the planets in your astrological natal chart can cause you to think these thoughts and, with work on your mindset, and hard work in reality, you can overcome this block. You might believe you’re not smart enough, too lazy, or have the wrong background. Whatever the reason, this is a major money block.
● Solution: Know that just because you desire it, you can achieve it. Of course it will take some work to get started and realize your goals. However, with time and patience and effort, you will look back and see just how far you got once you took that first step.
A lot of people with this money block have what is called “imposter syndrome.” They may not feel completely comfortable with their talents and skills to make money doing them.
However, you are more than likely a “fit” for any job or career or business you desire to have! It just takes some time to feel more confident about what you are doing. Often, you may need feedback until you feel fully confident.
Consider hiring a coach or a mentor to help you work through these blocks. Once you do, you will realize that you deserve anything you’re willing to work for.
Can you see how your beliefs about money are negatively affecting your finances? Most people address their financial issues with a focus on external items, but it can be more effective to address your faulty and limiting beliefs. Take a look at your money blocks and resolve to solve them – today. You’ll be glad you did!