If you earn less than you want to, it could be a result of limiting financial beliefs. The problem is that simple. Limiting your financial beliefs restricts the ability to create and grow wealth. Contemplating your beliefs is a quality initial step if your financial situation is less than stellar. Let your true potential be realized by changing your beliefs.
Here are a few very common limiting beliefs regarding finances:
1. “The rich” are evil. Believing that people who are rich earned their wealth by being greedy, selfish, or dishonest is an easy way to talk yourself out of creating your own wealth.
2. Your earning capacity is limited in some way. Society has a bad habit of enforcing that the lack of a degree or the social connections places a firm ceiling on your ability to earn. This limiting belief in a false ceiling can be hard to overcome.
3. Making a lot of money requires great risk. Do you avoid making money because it will require too much time away from your family or force you to risk what you already have?
4. “I am not good with money.” Such a definitive statement will undoubtedly limit your ability to earn and retain money.
Listed here are just a few examples but any negative thought can be a limiting belief. List any of your beliefs that are limiting to your financial resources.
Use this strategy to change your financial limiting beliefs:
1. Recognize that a belief is not reality. Your past experiences may not be representative of how things should normally work. Maybe you were given poor advice and came to faulty conclusions as a result. Beliefs can distort reality to a great degree.
2. Choose a more positive alternative. Some might say that rich people are greedy and evil. An alternative way to look at it could be that, “The rich have more resources and opportunities to help others. I could do more selfless things for others if I had more money.”
3. Examine why you choose to hold a negative belief. Maybe your parents were jaded and said rich people are greedy. Maybe you saw a Dateline special where someone was swindled by a deceptive sales scheme. Understand what is at the root of your belief in the first place.
4. Challenge the belief. As per number 3, you notice that your parents were never able to become wealthy. Neither was anyone in their entire family or any of their friends. A logical conclusion might be that they’re probably not a good source of information on the topic wealth.
5. Find information to support a new, positive belief. Do some research on wealthy people that are well-known philanthropists. Find out what makes them want to give back and help others who are less fortunate. It’s about the individual, not the amount of money that they have.
6. Monitor yourself. Notice what triggers a limiting belief to occur. Be ready to remind yourself of your new positive belief. Remember why the old belief is wrong and your new belief is correct. With enough evidence in hand to support a positive belief, you can change your entire mindset about a topic.
Are your negative financial beliefs limiting your ability to become wealthy? To see true chances in your financial life, address your negative beliefs around money and wealth and change them into positive ones.