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What Negative Money Beliefs are Holding You Back?

I recently did a call for the SheBrand community (thanks, Liz!) where Liz and I talked all things women and money. One of the topics we talked about on the call was how women can uncover the negative money beliefs that may be holding them back, and then change them as a way to improve their financial lives.

You see, so many of us are holding onto beliefs about money that aren’t serving us, and we’re probably not even aware of it. For example, it wasn’t until recently that I realized I had my own limiting beliefs about money. I had the belief that I didn’t have enough money lingering in my subconscious, even though I thought I was operating within an abundance mentality. Growing up, my parents did a great job of living within their means and saving for the future, but they often also operated under the belief that they didn’t have enough money. This negative belief was the primary driver for them to constantly budget and watch where every dollar went. And while my parents have done an incredible job of maximizing their financial situation and achieving their goals, along the way I picked up this same scarcity mentality with money. It wasn’t until I had a deep conversation with my business coach that I realized that this false money belief was preventing me from getting to the next level in my own financial life. So once I got clear that this negative money belief still existed, I decided to change it.

Here are seven tips to help you change any of your own negative money beliefs to positive money beliefs, thus creating a healthy money mindset.

  • Explore the money beliefs of your past

Start by asking yourself what you were told about money growing up. Were your parents constantly complaining about there not being enough money and saying things like,

“We don’t have enough money” and “Money is the root of all evil”? Or did they focus on having an abundance mentality, saying things like, “There’s more where that came from” and “We live in an abundant world”? You can see how these statements can lead to different money beliefs, and it’s critical that you discover the money beliefs you were raised with.

  • Accept your current money beliefs

Often when we explore our past, a lot of stuff can come up, some of which can be very difficult to deal with. Emotions such as blame, shame, guilt, etc. may arise, but you have to remember to accept your past for what it is: your past. Forgive yourself. Forgive your parents. They did their best. It’s now up to you to take responsibility and change any money beliefs that you’re not happy with.

  • Let go

Decide what money beliefs you want to keep and which ones you want to dump. Understand that most negative money beliefs are false ideas anyway. The idea of scarcity is false, as we live in an abundant universe. There is always more. So let go of any statements that no longer serve you and decide to operate from a place of truth.

  • Stay aware of your thoughts

Once you recognize your negative money beliefs and decide to dump them, it doesn’t mean they’ll never come back. You’re human, after all, and so those thoughts will always be there. You just have to commit to staying aware of them so you can recognize any negative ones as they arise and immediately change them. Practicing daily money affirmations can help with this.

  • Visualize the outcome you want

Take time to visualize the outcome you want in your financial life. For example, if you want to create an abundance mentality, visualize yourself with enough money in your bank accounts, zero debt and your desired income. The more you visualize what you want to happen, the more likely you’ll be to take the necessary steps to make it a reality.

  • Practice how you’ll feel once you have the outcome you want

Using the example above, once you have enough money in the bank, zero debt and your desired level of income, how will you feel? Happy, calm, excited? Whatever the feelings, start practicing them now when you deal with your money. Feelings are magnetic, and the more you practice how you want to feel with your money, the more you will actually start to feel that way.

  • Stay committed

Changing your money mindset is no easy task, and it’ll take a lot of work. But this is your financial future we’re talking about, so why wouldn’t you want to put in the work? Remember that money is only a tool to create the life you want, and that life is definitely worth it. So stay committed!

We all have the power to change our beliefs about money. It just takes the commitment to do so. I truly believe you can create a healthy money mindset, and I encourage you to start today. Here is a quote to help you on your journey toward creating a positive money mindset:

“A belief is only a thought you continue to think. A belief is nothing more than a chronic pattern of thought, and you have the ability–if you try even a little bit–to begin a new pattern, to tell a new story, to achieve a different vibration, to change your point of attraction.”

–Esther Hicks, best-selling author and speaker.