“Money doesn’t grow on trees.”
“You have to work hard to make money.”
“You can’t make money unless you get a good job.”
I grew up hearing these and never thought to question them. But when I look back, I heard these things from my parents and grandparents like you did, right? They came from many generations before us, but are they serving you today?
I remember sitting with my grandfather as a teenager and him telling stories of the struggles they went through during the great depression – sleeping on potato bags, having nothing or very little to eat many days, how hard it was to make money. The long hours he put in working two jobs to get his business off the ground.
Hearing these things when we’re young has a lasting effect, creating an internal struggle when we are looking to create more wealth and abundance for ourselves, because it influences the value we place on money.
Understand your relationship to money
The way that you think and feel about money will determine your relationship to it, as well as the amount of wealth you’ll acquire in your lifetime. What do I mean by this?
Like so many areas of your life, ideas and beliefs were implanted for you by others from a very young age, only to be reinforced over time by new experiences that mirror your beliefs. These are largely subconscious thoughts and feelings that developed through the influence of adults: parents, guardians, teachers, and mentors who made deep and lasting impressions on you when you were young.
To a very large extent, the ways that these influencers thought, felt, and talked about money and/or wealth has determined your own relationship to money and your concept of wealth – not only whether you should acquire wealth, but how, and how much, you should acquire. These implanted opinions can have long-term effects that you may not even realize, but which will affect you throughout your life.
Limiting beliefs about money
Overcoming limiting beliefs, while difficult, is actually rather simple; you must replace them with empowering beliefs.
To overcome your limiting beliefs about money, you must begin to develop what I refer to as a “Wealth Mindset”. This means that you understand your thoughts and feelings about money, discover where they came from, and how you can change them for the better.
The three most common limiting beliefs, or money habits, I’ve encountered are:
- Money as a Crutch – When you tell yourself that you want something but that you “can’t afford it”, you use money as the excuse for not fulfilling your true desire. Many times, what you really want to create in your life is on the other side and you must problem-solve your way to being able to afford it. For example, you may need to hire a new business coach and it feels like a stretch for you, so the first thing that comes to mind is “no way can I do that, that is way too much.” Instead, you should develop a plan that will enable you to “afford it”, especially if it’s really important to you. Doing this will help you put money into a more positive perspective, as a tool for fulfilling your needs and wants.
- Learn to Love Your Bills – Start to LOVE your bills. The bigger your business gets, the more expenses you will have. When you attach a negative value to bills, when you hate them but continue to acquire them as your earnings grow, you give them power over you; the power to cause stress and unhappiness in your life. Instead, put them into perspective and, if you really wish to have fewer bills, develop a plan to pay them down and rid yourself of the “hassle.”
- Ignoring Money Challenges – We have all been here at some point, where it feels easier to not look at the credit cards that cannot be paid, the bills that seem too high, but there are ways to create a plan and overcome money set-backs. When you ignore or refuse to understand money issues, or leave it up to your partner perhaps, you give up your power to control your own income and build your wealth. Doing this leaves you at the mercy of your paycheck, which is highly stressful and leads you to hate your bills and to use money as a crutch. Instead, accept your role as an earner, and take responsibility for spending and budgeting, if you hope to regain control of your money, and your wealth.
Money, and wealth, are only as valuable as you allow them to be; money is a tool and wealth is a measurement, not values in and of themselves. When kept in proper perspective, when you develop a positive wealth mindset, this tool and measurement will work for you, instead of against you.
BONUS TIP: It’s fairly common for people to think that, “When I solve the problem it will be gone forever.” This is a common misconception and, it’s NOT TRUE. If you’ve been conditioned to think about money issues in a certain way, overcoming them in the short-term will help you but, it will still be there every time you try to stretch, or “up-level”, to a new plateau or level of success.
If you are feeling stuck and struggling to build wealth, reach out to me and book a complimentary money breakthrough session with me by clicking on the contact tab on the screen, and let’s chat!