The 6 Most Limiting Beliefs About Money and How to Get Rid of Them

What Beliefs About Money Might Be Limiting You?

I want to talk about finances! A lot of people are hurting right now because of shut-downs and loss of income and business revenue. I also know, based on the conversations I am having, that the people who were struggling financially before the pandemic hit are the ones struggling now, and the people who were financially stable before the pandemic hit are the ones financially stable now.

Now the real question is, what makes some people struggle financially and some people have all the money they need? You might instantly say, “Well, the ones who are financially set probably inherited money.” Many of the people, in fact, the majority of people I know who are well off, did not come from well-to-do families. They came from regular middle-class families and in some cases lower-middle-class families or from absolutely nothing – poverty. They all struggled financially.

So if we take 2 people, both from lower-middle-class families and very similar backgrounds, why does one struggle with finances in their adult life and the other is financially secure in their adult life? Is it just bad luck vs good luck? Or is it something else?

Our Beliefs and Money

You’ve probably heard this before and maybe you scoffed at the notion, but the #1 thing that determines your financial success in life is your mindset towards money. Your limiting beliefs about money are actively creating your financial reality.

Now, you may think you don’t have any negative or limiting beliefs around money. You may think that you love money and want more of it. The challenging part to beliefs is that many are subconscious. In fact, for most of us, every aspect of our lives from finances to relationships to health is determined based on deep-seated beliefs we hold but are completely unaware of.

So to change any aspect of your life, in this case your financial life, your first step is to become aware of the fact that you DO have limiting beliefs about money. So I want you to read the following most common limiting beliefs people have about money and honestly determine whether or not you have one or more of these.

You may find yourself instantly recognizing you have a belief on this list. But you also may find you have a subtle sensation in your stomach, neck or somewhere else in your body. Pay attention to any thought or physical sensation you have reading through these.

They are all clues!

1. Money is the Root of All Evil

This is perhaps the most common limiting belief about money. Tell me, if a person has this belief, and they also have the belief that they are a good person, do you think they will ever have a lot of money?

Many people who grew up in households where money was tight may have heard their parents say this statement over and over again. If you don’t have money and all you perceive is that the elite class (aka the “bad” people) have it, then money must be evil.

Money is neither good nor bad. It is simply something that helps us get the things we want.

2. Money Isn’t Important

While I think we can all agree there are more important things in life than money, such as health and love, we shouldn’t deny the fact that it’s important to be financially secure. Many people mean well when they hold this belief, but the projection they are putting out into the universe is, “I don’t really care if I have money or not, because it’s just not that important.”  Well, that sounds lovely and virtuous, but life lived with financial security and freedom is so much nicer!

3. I’m Just Not Good with Money

This is a rather defeatist attitude, wouldn’t you say? There was a time you couldn’t walk or ride a bike or drive a car, but you learned how to do those (I’m assuming). It’s true that most of us were never taught about money, how to save, how to invest, how to have a good credit score, etc. But it’s our responsibility to learn how to be financially responsible so that we can be financially secure. There are plenty of books and websites to learn from these days!

4. You Have to Work Hard to Get Rich

There are plenty of people who are wealthy that didn’t break their backs getting that way. What they DID do was learn about making proper financial decisions and how to invest wisely. They learned the value of each and every dollar and they learned to deny their need for instant gratification purchases and instead save and invest for the future.

When it comes to creating wealth through business transactions, these people also learned that they can earn more by providing real and lasting value to others at a fair price. They don’t cheat people or inflate their prices, they solve people’s problems and conduct their business fairly. They are ultimately rewarded for it.

5. You Can Either Be Rich or Happy – But Not Both

I’ve met plenty of rich people in my time and the majority of them were very happy. Not all, some people were miserable and nothing was ever enough. Money doesn’t make you happy per se, that’s where love and companionship and purpose come in. But you can certainly have a lot of money and also have those other things. To place this “either or” scenario on money is simply inaccurate.

6. It’s Selfish to Want Money

There are many people all over the world who are living in poverty. If you are someone with a big heart, you may think it is selfish or just somehow wrong that you have money when others don’t. The truth is, you having money doesn’t take it away from someone else. In fact, the more money you have, the more you can give away or tithe, should that be something you want to do.

Well, how did you do? Did one or more of these limiting beliefs ring true to you?

Here’s what I want you to do over the coming weeks and months:

I want you to flip that limiting belief on its head. Remember to think that new thought all the time. I mean ALL the TIME!

So let’s say your limiting belief is “Money is the root of all evil.” Flip that statement and say to yourself “Money is necessary to live in this world. It helps me take care of myself and my family. I love money.”

This is just an example. You should think about what new statement will also really ring true for you deep, deep down in your belly. And every day, all throughout the day, I want you to say and feel this new belief. It will eventually take hold. Do this for as many limiting beliefs as rang true for you.

I wish you all the abundance in the world.

Prue