The limiting beliefs around money are many. Money can evoke human emotions such as anger and guilt but also the opposite, such as freedom and happiness. The goal is to master money so we can feel good about what it brings and understand how it can benefit us and our families and the world at large.
We all have limiting beliefs whether we recognize them or not.
Limiting beliefs are false beliefs that prevent us from pursuing our goals and desires. They constrain us from growing and being more. They inhibit our thinking and our actions and likely come from our parents, our peers, our education system, our job, our government and the news. They become ingrained in us. Here are 3 main limiting beliefs around money and how I overcame them.
I’m not good with money.
Did you know that 40% of North Americans can barely cover $400 of an unexpected (emergency) expense, and only 30% of households actually have a long term financial plan in place.
The limiting belief of ‘not good with money’, can be changed by learning the best strategies to making money and then investing it in smart ways. This is exactly what I teach my clients, so they can become a master at money!
And, that’s why my 6 week online course, Build an MBA (massive bank account) is so popular! Get notified here for the next enrollment.
I won’t ever make enough money.
This is a big one, especially with all the uncertainty in our economy. One of the best ways to counteract this belief is to understand the concept of leverage and compounding. The way I built wealth was by using both of these concepts. You can do this by strategically setting aside money (even small amounts) to build a wealth account that is only to be used to invest in residual income strategies.
When I started in the network marketing profession – I totally felt that I couldn’t do it and most of all, that I wouldn’t make any money at it. This limitation was because I saw other people working in this business model who didn’t make much money.
I soon realized after working with success leaders, that it was absolutely the wrong thinking, so once I got out of my comfort zone, I built a very profitable business in a short period of time and it continues to grow year after year.
I am not worthy of money.
Limiting beliefs around money are often about ourselves. For example, ‘I am not worthy, I am not smart enough, I am not capable and not deserving.’ These beliefs hold us back from really progressing.
For example, I capped my potential of building a larger real estate portfolio to only 3 properties. I was happy with three, but once I was exposed to other investors and learned new strategies from them, I set a new goal to attain 10 properties in 5 years, and guess what, I actually achieved it!
It’s wasn’t easy to admit, but I held myself back from reaching my goals and dreams, until I said this is enough!
So my advice today is to identify your limiting beliefs and then make a decision to defy them! It’s time to stop short-changing yourself (pun intended) and make more money so you can make a difference and live a life of freedom.
“Remember, we all get what we tolerate. So stop tolerating excuses within yourself, limiting beliefs of your past or half-assed or fearful states.” Tony Robbins
So if you’re ready, I invite you to book a free coaching session with me!