Money beliefs are ideas, thoughts or opinions that impact our money behaviour. Money beliefs are influenced by our parents, peers, schooling and the media. In fact a recent study showed that our money beliefs are largely formed by the age of 7!
Our beliefs actually come from the way we interpret our experiences. As our beliefs are reinforced over time, they move into our unconscious mind. These beliefs that lurk in our unconscious mind can interfere and challenge us and unless we articulate them consciously, they cannot be confronted or changed.
As we become increasingly aware of our money beliefs, we begin to notice how our beliefs influence our behaviour.And once we are aware of what is holding us back, we can change our reality.
As Mahatma Gandhi beautifully shared:
Beliefs that are limiting can be replaced with empowering beliefs.
We can work to overwrite our limiting money beliefs by replacing them with positive affirmations and beliefs.This is a three step process:
1. Discover the limiting belief and write it down / share it. This creates awareness and brings it from our unconscious mind to our conscious mind.
2. Dismantle this belief – where did it come from? Is it really true? How is this belief holding you back / limiting you from what you want to achieve? Adding new information and evidence will hep to dispel this belief.
3. Replace this with a new empowering belief. This new belief has to be one that you generate yourself, in your own language so that it reflects your world, your values.
There are so many limiting money beliefs that we may consciously or unconsciously hold. But let’s look at 5 common limiting money beliefs as way of an example:
Limiting Belief #1: Money is not that important. It’s only money.
Dismantling this belief: Is this true? Don’t I need money? How will I pay the bills if I don’t have money? What does money mean to me – security? freedom? fun? Are these things important to me?
Empowering Belief: Money is one of my priorities in life.
Limiting Belief #2: The rich get richer and poor get poorer.
Dismantling this belief: Is this really true? If I make more money will someone else have less money? What if I make less money does someone make more money?
Empowering Belief: My financial reality is entirely up to me.
Limiting Belief #3: I’m just not good with money.
Dismantling this belief: Can I learn to manage money better? What tools and things I can put in place to make me good with money? Can I seek professional help to better manage my money?
Empowering Belief: I learn and use knowledge about money everyday.
Limiting Belief #4: You have to work (too) hard to get wealthy.
Dismantling this belief: Is this really the case? If I work harder will I make more money? What if I change the way that I work? Could I add more value and make more money?
Empowering Belief: To get wealthy I just provide real value for others and ask a good price for it.
Limiting Belief #5: I need money to be happy.
Dismantling this belief: Does money really make me happy? What does make me happy?
Empowering Belief: Money is just one part of my life and one part of my happiness.
Here’s the catch though… you won’t develop empowering beliefs just by deciding that you want them. A conscious decision about what you want to believe isn’t enough, for a belief to really serve you, it has to be something that you resonate with on every level – conscious and unconscious.
It’s easy for us to move through our lives completely unaware of the limiting beliefs that are biasing our decisions. But by taking control of our money beliefs, we regain control of our money and our wealth, and ultimately control of our lives.
We begin to find our flow.
Money belief image via http://www.liveluvcreate.com/
About Lea Schodel:
Lea Schodel is the principal Wellness Consultant at The Modern Careerist.
Lea is a wealth coach, yoga teacher and passionate wellbeing advocate. As founder of the social enterprise Wellthy, Lea was named 2016 Money Management Young Achiever of the Year.
Based near Brisbane, Australia Lea works with an array of people from different backgrounds who are seeking support to create an authentic and purposeful relationship with wealth and wellbeing.
Be inspired by working with Lea during one of our upcoming programs:
- Happy Work Life (Executive Program) August 8th - 13th 2017 in Ubud, Bali. Book-Program-Here
- Act with Purpose (For Advice Leaders) August 22nd - 27th 2017 in Ubud, Bali. Book-Program-Here