We all have limiting beliefs about money. If you feel like you don’t have any limiting beliefs, that’s because most of our beliefs lie on a subconscious level.
Having the right set of beliefs is the key to achieving anything you want in life. Beliefs shape your reality, and your mindset determines your success.
Unfortunately, most people have non-supportive and fear-based beliefs that keep them from becoming successful.
In this article, I will share with you ten limiting beliefs about money that keep you broke. Let’s begin!
1. Money Is A Limited Resource
One of the most common limiting beliefs about money is that there is not enough for everyone. This means that if I have more, someone else will have less.
This is a belief many of us get in our childhood. We wanted certain things, but our parents told us that we couldn’t have everything we want because money is limited.
If we keep believing that, we will never improve our finances. But if we understand that there is enough for everyone, we’ll attract money easily and feel happier about other people’s successes.
Understanding that money is abundant is a crucial mindset shift.
Empowering alternative: There is enough money for everyone willing to earn it.
2. I Can’t Make Money and Do What I Love Simultaneously
People who have this limiting belief lack the right mindset. They are so focused on criticizing their jobs that they miss all the opportunities around them.
You can monetize anything, but you have to be creative.
When you have passion, you have the willpower and drive necessary to keep going when times are tough.
Here is a profound quote that I want you to think about:
A master in the art of living draws no sharp distinction between his work and his play; his labor and his leisure; his mind and his body; his education and his recreation. He hardly knows which is which. He simply pursues his vision of excellence through whatever he is doing, and leaves others to determine whether he is working or playing. To himself, he always appears to be doing both.Lawrence Pearsall Jacks
When you love what you do and do what you love, you will never work a day in your life.
Empowering alternative: I don’t have to choose between making money and pursuing my passion. I can do both.
3. I Can’t Control If I Become Wealthy or Not
Most people believe that life happens to them, not for them. They go with the flow and never question why they do what they do.
These people are most likely to end up somewhere they don’t want to be. If you are reading this, you are probably not one of them, but I just wanted to remind you that no matter how complex your life might be right now, never settle for less than you can be.
You are the creator of your life. You can make it just the way you want it. Don’t expect that someone is just going to come and give it to you.
Empowering alternative: I create my life and take consistent action to make it the way I want it.
4. Money Can’t Buy Me Happiness
Happiness is not something that you can buy on the marketplace.
Even though money can’t buy true happiness, it can:
- eliminate financial anxiety
- buy experiences
- pay for a surgery that a loved one needs
- buy more time
- allow you to donate to charities and good causes, which will make you happier
Empowering alternative: Money gives me the freedom to do things that improve the quality of my life.
5. I am too young to take money seriously
This is one that I believed a few months ago. Just like most young people, I thought that my youth is all about having fun. After all, the fun ends when you get a job, right?
In most cases, yes, but it doesn’t have to be like that. I am so happy that I realized it at such a young age. Here is the principle I follow:
Live a few years of your life like most people won’t, so you can spend the rest of your life like most people can’t.Unknown
If I could turn back time and give my younger self advice, it would be to start as soon as possible.
Don’t think that you are too young to start learning about money. It’s necessary to learn it by reading books, going to seminars, and taking courses. School won’t teach you anything about money, so don’t rely on that.
When you start young, you have a big head start over most people. You have one thing that adults don’t, and it is time. When you are young, you can take more risks because you have almost no responsibilities.
Start learning about money as soon as possible. Here are my top recommended books for beginners who want to learn about money:
- Rich Dad Poor Dad, by Robert Kiyosaki
- The Richest Man in Babylon, by George Samuel Clason
- The Automatic Millionaire, by David Bach
6. It’s Not Right To Be Rich When So Many Other People Are Poor
Many people think it’s unfair to have a lot of money when so many people live in poverty.
This limiting belief about money is easy to shift. You only have to realize that you can impact and help others on a much bigger scale when you have money.
I don’t think it’s selfish to have a lot of money. It’s selfish to have a lot of money and don’t do anything with that money to contribute to the world.
Empowering alternative: I can do more for others when I am rich than when I am broke.
7. I am Unworthy Of Money
This money belief immediately takes you out of the game. Even if you provide incredible value to the world, you’ll never get anything in exchange for what you do if you do not see your worth.
No one will value you more than you value yourself. But how do you do it?
A good practice to add to your nighttime routine is to start a journal. Every night write down three things you value about yourself or three things that you did that added value to someone else’s life.
This will increase your feeling of self-worth and help you see opportunities everywhere you go.
Empowering alternative: I am worthy, not only of money but of anything I desire.
8. You Need Money To Make Money
If you already have money to invest, then it becomes easier to make more of it. But even if you don’t, there are still plenty of opportunities.
15-year-olds are making money online from their hobbies. If they can do it, so can you. You can start an online business for under $100. If you take it seriously, you can start earning a full-time income online.
Even if you have $0 in your bank account, you can still make money on the internet. It will take more time and effort, but your income will grow exponentially once you gain traction.
Empowering alternative: You don’t need a lot of money to make money. You can start with a small sum and invest a lot of your time and effort.
9. The Rich Get Richer, and the Poor Get Poorer
Just because you were born poor doesn’t mean that you have to stay like that your entire life.
Yes, it is true that when you have a lot of money, you can invest it and multiply your income. But it is not only about money. The rich get richer because of their wealthy mindset.
Let’s say you win $1,000,000. It’s just a matter of time when you will lose that money if you have a poor mentality.
Rich people are human beings just like poor people are. The difference is in their mindset. A poor person believes that he is poor. A rich person believes that he is rich even though he has no money.
If a rich man suddenly loses all his money, he won’t see himself as a poor person. He will see himself as a rich person who doesn’t have money at the moment.
Empowering alternative: Poor people can adopt a rich mentality about money and become rich too.
10. I Am Not Good With Money
Have you ever seen a baby just being born and being able to walk and talk? Of course not.
We are not born with skills. We develop skills over time. Just as you can learn any skill, you can learn how to manage your money.
But, no matter how much you learn about money, the belief that you are not good with money will stop you from taking consistent action. We act according to our beliefs.
The good thing, though, is that as you start learning more about money, your mindset will gradually shift. You will go from having a poor mentality about money to an abundance mindset.
Empowering alternative: I can learn how to manage my money and make more of it.
Get rid of limiting beliefs about money, replace them with empowering ones, and see how abundance and wealth start coming into your life.
As you probably noticed, there is one thing that all these limiting beliefs have in common. They are all caused by a poor mindset.
If you didn’t get anything from this article, get this: Unless you change your mindset, you will always struggle not only in your financial life but in all areas of life.
Remember that money is neither positive nor negative. It is just a tool. It’s not the most important thing in life but affects everything in life that is important.
Tell me in the comments which believes you can relate to. Are there any other limiting beliefs about money that you have that I didn’t cover? If so, let me know in the comments as well, and I will help you out 🙂