The subject of money is a big topic for a lot of people. Thoughts of “How am I going to pay my mortgage?” “Will I ever get out of debt?” “Will I ever be able to retire?” stream through our mind.
As we ponder, worry, or even stress about money we use up a lot of bandwidth for our brains. Therefore, we have less energy to go towards creativity, peace, joy, happiness, the ability to solve problems, or feel that we have any control over our lives.
Getting your financial mind-set in order is not just about buying a new car or paying off debt. For many people it about about their physical health and the amount of stress that poor money mind-sets bring into their life. Today I want to share with you five mindsets you may be holding on to that are holding you back from your financial freedom.
1. “Someone else will/should take care of this for me.”
Stop waiting for Prince Charming, your parents, your employer, your husband/wife or your friends to come bail you out. Your financial future is your responsibility.
When you place your financial responsiblity on someone else, you are just buying your time, paying minimum amounts on credit cards, not planning for your future. The longer you sit and wait for that magical person to start taking care of your finances, the further and further behind you are going to get. When is the BEST time to take responsibility for your finances?….Right now.
2. “I’m not good with money.”
Join the club. There are many of us who were released out into the world with little to no knowledge of how to handle money, budget, and plan for our financial futures. You probably were not good at walking when you took your first steps. Mostly likely you weren’t good at driving the first time to sat behind the wheel. But that’s why we have to have patience, teachers, and practice.
Financial management is not a talent that any of us were born with. Luckily for us, there are millions of financial books, podcasts, radio shows, online training programs, consultants, counselors, and trainers. It may never become your favorite thing in the world to do, but “I’m not good with money,” is no longer a valid excuse for poor financial management.
3. “Money is greedy or non-spiritual.”
The only way to make money is by giving value. It doesn’t matter if you are the CEO of your own company or a widget maker in a factory. You are giving value (products/services) to this world in exchange for value (money). The more value you give, the more value you receive. There is nothing more spiritual than cultivating your unique gifts and talents and adding value to this world.
4. “I’m not __ enough.”
I’m not smart enough. I’m not educated enough. I’m not old/young enough. Fill in the blank with your own word of choice. The truth is, no matter what excuse you want to place in the blank, we can probably find someone who has overcome that obstacle to achieve financial success.
Just remember that no one will value you more than you value yourself. There is no budget big enough to help you become successful if you don’t believe you are worthy of success. The inner voice that says, “I’m not __ enough” is only going to keep you in a life of mediocrity.
5. “Fear Money, Don’t Make Money.”
Chalene Johnson uses that line when talking about people who are afraid to spend money in order to make money. Making decisions based on fear of loss or failure never leads toward prosperity. In fact, usually fear-based decision-making will steal your happiness or joy of success.
Have you ever been more worried about losing $10 than earning $100? If so your business decisions are fear-based, not prosperity driven. There is a different mindset between those who make financial decisions to ‘move away from fear’ vs those who make financial decisions to ‘move towards prosperity.’ Fear-based decisions will keep you in poverty.
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