Are you bad with money or is it all in your head?
When it comes to personal finances, we can become our own worst enemies. Just like the ‘born lucky effect’, where we make much of our good and bad luck by the way we behave and think – we can also adopt a money mindset. This money mindset has the ability to either hold us back from financial opportunities or create more financial stability – it all depends on our attitude towards money. If we tell ourselves we can’t manage money and then we don’t, it becomes a vicious cycle. We deem ourselves as ‘bad with money’ but there’s good news! That can change.
Where does money mindset come from
Many of us are not aware of the abundance that exists all around us. Yet we can block that from entering our lives subconsciously through thoughts and actions. These thoughts and actions tend to become our default and affect the way we handle and think about finance. They are often rooted in limiting beliefs about money. Such beliefs become ingrained in our mindset, holding us back from living a life of financial success and preventing us from manifesting abundance. If you believe that you can’t make money unless you have a certain career, you may be holding yourself back from what you really want, misaligned with your purpose and living an unfulfilled life due to a certain money mindset.
The financial challenges you faced from an early age inform your attitude towards money – this may be where your limiting beliefs initially stem from. Maybe you faced these challenges personally or you grew up in a household where money was the main topic. But there isn’t one simple source for limiting beliefs about money, throughout your life you’ll experience many contributing factors outside of family that shape how you view and feel about money, from friends to social media. Whatever your situation, understanding your attitude towards money today can work in your favour by helping you reframe your spending, saving and planning to make improved financial choices.
Limiting beliefs about money
No matter what your thoughts about money are, it’s good to know that your ability to handle money has less to do with skillset and more to do with mindset. The first step to overcome your limiting beliefs about money is to become aware of them. Once you acknowledge that they exist, you can delve deeper into what they are and find ways to challenge them. In reframing your money mindset, there are things you can control from the offset, such as how much you save regularly and what you choose to spend money on. Rather than behaving in a reactive, impulsive way towards money (which can actually detract from the fulfilment of your life), you can learn to use money as a way of funding your goals. So, it’s important to clearly understand your goals and then you can make more informed choices that bring you closer to them. Perhaps now is the perfect opportunity to set goals and review your money mindset. To counter your limiting beliefs about money, you must reframe your thinking and tell yourself better stories.
You can change your beliefs and ultimately change your life. To learn more, check out our online class on transforming your money mindset.