MOST
LIMITING BELIEFS ABOUT MONEY ( & HOW TO REMOVE THEM )
The first
thing that will determine your financial success in life is your mindset
towards money. As already written in The Big Picture
Guide to Get Control Over Your Money, your attitude towards money is
actively creating your financial reality. And the
most influential part of a mindset are
the beliefs you hold true.
Unfortunately
many beliefs are operating subconsciously. Once we accepted them
they are our reality. Until we question them again. So the first step
is always to get aware that these limiting beliefs about money exist at all.
You need to find them.
Are you
constantly marketing your services and keeping in contact with your list
however you’re just not getting the number of people you’d like signing up for
your programs? Frustrated because you continue to struggle to reach your income
goals? At your wits end?
If you’ve
answered ‘yes’ – I can sympathise with you. As can many of my clients.
Just a few
years ago – I too was frustrated and confused. Despite all my efforts – I just
couldn’t break through my income barriers.
One of the
things I have learned (and now share with my clients) is that the reason I was
struggling to generate the income I desired went much deeper than marketing and
other business development strategies. The reason I wasn’t able to charge what
I was worth had nothing to do with my abilities and the programs I was
offering.
I was
struggling because of my self-belief, self-worth AND beliefs I had around
money. I call it my family’s money legacy. So up until a few years ago, the
story that I had grown up with about money as a young child had been negatively
impacting the income I was making (or in my case ‘not making’) in
my business.
So what are
your beliefs around money? What is your family’s money legacy?
What are
the stories you grew up with about money? Like me (and many of my clients) –
could your beliefs also be the reason why you continue to struggle to reach
your income goals?
WHAT ARE
YOUR BELIEFS ABOUT MONEY ?
Maybe your
money beliefs are already empowering you to create an abundance of money in
your life. But maybe there are still some limiting ones. Then it
is relieving to get these limits out of your way.
So think
about it, what does money mean to you?
Complete
the sentence: Money is ______. Fill in the blank.
And then: Money means for me ______. Write it down.
And then: Money means for me ______. Write it down.
This little
exercise alone can reveal some of your limiting beliefs about money.
The Top Limiting
Beliefs About Money and Corresponding Supporting Beliefs
HERE ARE
SOME COMMON MONEY BELIEFS. SEE HOW MANY YOU RECOGNIZE ?
Money
doesn’t buy happiness
Money
doesn’t grow on trees
Filthy rich
It’s
difficult to keep money
You have to
work hard to earn a living
All rich
people are crooks
Money is
the root of all evil
The cost of
living keeps rising quicker than I can manage
It’s a hard
road to make a buck
Spiritual
people aren’t supposed to be rich
Money and
spirituality don’t mix
It’s sinful
to have a lot of money
A penny
saved is a penny earned
It takes
too much effort to earn money
Money is
dirty (dirty money)
If I’m rich
my children will grow up spoiled
Being rich
will stop you from getting to heaven
The rich
get richer and the poor get poorer
Perhaps
you’re also able to relate to some of these self-worth and self-beliefs:
I don’t deserve
success
I am an
unworthy person
I’ll become
a greedy and untrustworthy person
Money will
change who I am and what I stand for
If I want
to be rich, I have to cheat and lie
To be
wealthy I have to sacrifice everything
My parents
always struggled with money so that means I will too
I will
never be wealthy / successful / rich
I don’t
have the qualifications therefore I’ll never make any real money
I don’t
have the strengths and talents to earn a good living
I couldn’t
possibly make that much
While you
may be tempted to blame your parents (or other significant family members) for
your beliefs around money, it’s important to realise that they did the best
they could with the resources available to them. They may very well have been
brought up with similar family legacies and therefore made the choices they did
with the best of intentions for you.
Like the
grandfather who always reminded you to “Save a penny because you never know
when you may need it.” He didn’t say this to scare you. His intention for you was
to ensure you were financially secure in case you needed it.
Or perhaps
the grandmother who would always say “What’s the point of saving your money –
they’ll only take it away from you anyway.” She had experienced a very
difficult situation in her life and was doing the best she could. She didn’t
mean for her comments to impact the way money was showing up in your life.
So,
whatever your family money legacy and the story you grew up with (that’s
impacting your life today) it’s vital to understand that you DO have a choice.
You can choose whether or not you continue to allow these old and unhelpful
money beliefs to impact your life. So what choice will you make?
Here are
some of the most common limiting beliefs with money. See if you find yourself
in them somewhere. Along with the limiting belief I will suggest an
alternative belief that is empowering instead. You can adopt the empowering
belief by repeating it in your mind and overwriting the limiting belief:
“MONEY IS
THE ROOT CAUSE OF ALL EVIL.”
A common
misconception, if you haven’t mastered this area of your life yet,
is to think of money as something bad, or even evil. It’s an abstract belief,
looking from the outside. Or maybe you have had some bad experiences with rich
people and created the limiting belief that with money everybody will become
like this.
Or maybe
you think about when people make money their one and only goal in life. When
they start chasing money and get blind for higher human values like
love, compassion and character integrity. This, of course, is wrong. But
it’s not the fault of money. The people doing it got it wrong. They made money
their king. They have become a slave to money.
Money was
created as an exchange medium for the value of traded goods. So it is just
an expression of value. If you have a lot of money that means that you have
created a lot of value, for other people. (I know there are exceptions to this,
for instance a bank robber. But that’s no role model and you don’t want to
become one either.)
So money is
just a neutral medium that follows along with how you use it. It is your responsibility to make
the best out of it. Replace it with this supporting belief: “Money is
neutral and a resource to do good in my life.”
“MONEY IS
NOT THAT IMPORTANT. IT’S ONLY MONEY.”
This
limiting belief about money expresses that you don’t take money seriously
enough. It’s not one of your priorities. But this is the exact reason why you
haven’t achieved a satisfying situation with your money yet.
Treat money
with respect and give it the time it deserves. Then “it” will respect you. Replace
it with this supporting belief: “Money is one of my priorities in
life.”
“MONEY IS
THERE TO BE SPEND.”
This belief
comes from not understanding that in order to create financial abundance you
actually have to safe money. If you spend all the money you earn, instead of
saving and investing it, you will never create the financial abundance that you
could have.
Spending
money on nice things has its place, you should enjoy your lifestyle. But don’t
overdo it. You have to make sure to get into the habit of saving and investing
money. Replace it with this supporting belief: “The money I don’t spend
makes me rich.”
“THE RICH
GET RICHER AND THE POOR GET POORER.”
This is
really a big excuse. It is especially an disempowering belief because it gives
away your responsibility to care for your money situation. And whenever you
give up responsibility you also lose power and influence over your life. Replace it
with this supporting belief: “My
financial reality is entirely up to me. ” And
“Everything I need to create financial abundance is already inside me.“
“I’M JUST
NOT GOOD WITH MONEY.”
This is
another piece of rubbish because it assumes that you cannot learn new things.
As written
in the Big Picture Money
Guide you have to educate yourself about money. Study money. Then
improvements will follow naturally. Start by reading a good book about
money. Replace it with this supporting belief: “I learn and use knowledge
about money every day.”
“MY FAMILY
HAS NEVER BEEN RICH.”
The past
does not equal the future. Especially if it isn’t even your past. You are a
complete independent and individual person. What other people did or did not
has no power over you. You decide now!
So take responsibility for your own life and
learn to improve your financial life today. Replace it with this supporting
belief: “I can create my financial independence by learning and acting on
it.”
“MONEY IS A
LIMITED RESOURCE.”
This plays
into the scarcity mindset where
you would think that there is not enough for everybody, including you. This is
opposed to the abundance mindset, which assumes that abundance could be
created for everyone, including you. Replace it with this supporting
belief: “There is enough money to create financial abundance.”
“YOU HAVE
TO WORK (TOO) HARD TO GET WEALTHY.”
You don’t
get wealthy by working hard (only), you get wealthy by doing the right things.
And it all starts with adopting the right mindset towards money.
And one
part of it is to look for the smart way to get wealthy. Not in a sense of
looking for a quick fix or doing questionable things, but by understanding what
leads to wealth.
This means
understanding how you can create
real and lasting value for others and then offering it for a good
price. This is true whether you are a business-owner, self-employed or
employed. Replace it with this supporting belief: “To get wealthy I just
provide real value for others and ask for a good price.”
“EITHER
RICH OR HAPPY.” OR “EITHER RICH OR HEALTHY.”
Playing the
“either rich or…” game is based on the wrong assumption that to get rich you
have to get out of balance.
This is not understanding
balance.
When you
know where you can create real value for others, it just becomes one part of
your life, as any other like health or happiness. It then will be just one part
that goes well. Replace it with this supporting belief: “Money is just one
part of my life I handle exceptionally well.”
“IT’S
SELFISH TO WANT A LOT OF MONEY.”
Money is an
representation of the value you have created for other people. As I said in the
1st belief it is a neutral medium and it’s entirely up to you what to do with
it: good or bad.
If you are
able to create value for others, that’s a giving personality already. If you
use your money to help even more, reinvest it in your services or in the good
services of others, then that is adding more value to other peoples life.
Replace it
with this supporting belief: “The money I earned is showing the value I
created for others.”
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