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Your money beliefs are limiting your full potential.
Your beliefs influence your thoughts, which in turn influence your actions, which in turn impact your future. For example, if you believe you’re not good enough to become a writer, you’ll never take that first step, and you’ll never know if that truly is the case.
Whether you like it or not, money is central to everything in our lives.
So, what limiting beliefs about money do you hold close to your heart?
Let’s jump right in.
1. Money Is The Root Of All Evil
The correct and more accurate expression would be, “The Love Of Money Above All Else Is The Root Of All Evil.” This expression means you love money to the point you’re willing to do and sacrifice anything for money.
But money isn’t inherently bad.
For example, your income can be saved to start or donate to a charity organization to help the poor and unfortunate. You can also start a business and create new jobs that allow people to put food on the table and a roof over their heads.
So, how can money be the root of all evil when you can use it to do good?
2. Wealth Is Only For The Lucky Or Privileged
This is one of the most common limiting money beliefs people hold close to their hearts.
However, according to Fidelity Investments, 88% of millionaires are self-made.
They lived within their means, saved and invested for the long term, built multiple income streams, and avoided bad debts.
They are just like you when they first started out, ordinary working people. But, they know their numbers, set short to long-term goals, planned how they will get from A to Z, and acted on it.
Want to be rich, too? Think and act like them.
3. It’s Selfish To Desire Wealth
A wealthy person has the ability to contribute back to society and their community.
With excess money, you could start and donate to charity organizations, start businesses and create new jobs, fund medical research for new and effective medicines to cure diseases, and many more.
Yes, there are many selfish rich people, but many are also kind and generous.
And you can choose to be the kind and generous type.
4. I Don’t Deserve To Be Wealthy
This stems from the belief that you do not deserve to have money to enjoy the good things in life.
This is just outright wrong.
It’s true that nobody deserves to have anything given and served to them on a silver platter. You must earn it.
The question you have to ask is, where did this negative money belief come from? Why do you think that you do not deserve to be wealthy? Do you genuinely believe you bring nothing of value to the world?
If you bring immense value to the world (e.g., a cure for cancer), why do you not deserve the wealth that comes with it?
5. Health Is More Important Than Money
While I agree that health is more important than money, money does play a crucial role in our overall health.
In fact, studies have shown that money can negatively impact our mental health.
And according to a survey:
- More than half say money negatively impacted their mental health.
- Money is number 1 on the list of factors.
- High-income earners experience lesser emotional distress than low-income earners.
- Rising prices, daily expenses, insufficient emergency savings, debt, and other money concerns are among the top concerns.
Mental health is just as important as physical health, and money is crucial in maintaining our overall health.
6. You Need Money To Make Money
Both true and false.
Yes, with money, you could invest and start a business. However, you can still make money without money.
For example, Justin Welsh, a content creator on solopreneurship, left his job to become a full-time content creator. Without any paid ads and just his laptop, he published content daily. Almost five years later, he made $7.5m in revenue with an approximately 91% margin.
There are many ways you can make money without money.
If you excel at designing, writing, or video editing, you can start making money by becoming a freelancer and offering your skills in exchange for a fee.
7. Money Can’t Buy Happiness
To some extent, money can indeed buy happiness.
Think about the times you brought your wife to the places where she’s always wanted to go but couldn’t. How about when you took your children to Disneyland? Or when you cared for your parents and made it possible for them to go on their dream vacation?
Without money, you can do none of the above.
You can choose to use your money to create positive and meaningful experiences and memories with your loved ones.
8. Not Good With Money
Nobody is born good with money.
Everybody has to learn from their mistakes and educate themselves about money. You can either continue to be ignorant about money or educate yourself and become good at it.
9. Money Is Meant To Be Spent
In general, yes, it is meant for spending.
But money is, first and foremost, a tool—a tool used to achieve the things you want in life.
It is not only meant to ensure your basic needs are met; it is also meant for saving and investing for your future. And it is your responsibility to educate yourself and learn how to “spend” your money efficiently.
Break Through Your Limiting Money Beliefs & Live Your Best Life
There is no reason why you shouldn’t live your life to the fullest.
If you put your mind to it, you can break any money beliefs. So, start educating yourself and practicing daily money affirmations today. The more you know, the better decisions you can make, and the easier it is to shatter these toxic beliefs.
Get going today!
