Do you ever find yourself saying, "I don't have enough money"? If so, you're not alone. Many of us struggle with our relationship with money, whether it's feeling like there's never enough to go around or not knowing how to attract and retain more of it. But what if there was a way to revolutionize your relationship with money and finally get more of it in your life? That's exactly what my free live training is all about. In this post, I'll share why you may feel like money is hard to come by and how you can start attracting and retaining more of it, no matter what you do. Best of all, I won't hold anything back or try to pitch anything. My only goal is to help you transform your life with the power of money. So if you're ready to make a change, join me for this training - it just might be the best thing you've done for yourself in a long, long time. Trust me, I don't make this bold claim lightly.
Tackling the Big M: How Your Beliefs Impact Your Financial Behavior
Money. It's a topic that's often avoided, but it's one that affects us all. The core beginning point of managing your money is understanding that your beliefs about money impact your financial behavior, and ultimately, your outcome. It's easy to fall into negative beliefs like "there isn't enough money," "money is a necessary evil," or "it's a dog eat dog world." But these beliefs can hold you back from financial success.
In fact, studies have shown that individuals who hold negative beliefs about money or associate it with negative emotions are more likely to struggle with financial management and experience lower levels of financial well-being. The first step in shifting your financial behavior is to recognize these negative beliefs and work to shift them.
It's common to hear people say "I'm just bad with money." But if you think you're bad with money, your experience will reinforce that belief. This is just one example of a belief that clogs your "money pipe." The good news is that removing these clogs can lead to more financial success.
Throughout this course, you may notice mistakes you've made or are currently making with your money. But the point isn't to beat yourself up over them. Instead, hug the past version of yourself who made those mistakes and understand that you were doing the best you could with what you knew then. The point is to learn from those mistakes and use the tools you'll gain in this course to make better financial decisions in the future.
So why is money so hard? At its core, money is just numbers and math. But we're not taught much about it in school or in society. Instead, we're taught to want stuff, and it's easy to get a credit card and buy that stuff. The problem is that we tend to buy liabilities, like a car or a nice handbag, instead of assets that make us money.
But we're not taught about the leverage side of money, which is borrowing money to buy things that make us money. By shifting our beliefs about money and learning about leverage, we can make better financial decisions and ultimately achieve financial success. In the next section, we'll dive deeper into the specific beliefs and behaviors that can impact our financial outcomes.
Understanding Your Money Story: Why Improving Your Relationship with Money is Essential
Money has a significant impact on our lives, and we all have our unique money stories based on our experiences growing up. These experiences have shaped our beliefs and attitudes towards money, and it's important to understand them if we want to improve our relationship with money.
However, the question arises: is money a person or a thing? While we may have a relationship with people, can we say the same for money? Instead of thinking about our relationship with money, it's better to focus on our understanding of money. We need to remove the emotional aspect and think objectively, which can help us become more powerful and confident when dealing with money matters.
Unfortunately, the financial system is complex and intentionally kept that way to keep people from fully understanding it. This lack of understanding leads to feelings of guilt and shame over not knowing how to manage money, which further leads to anxiety.
The first step to improving our financial situation is to remove the feelings of guilt and shame over not knowing how to manage our money. We need to ask ourselves, what would be most useful for us to learn? Once we have identified the areas where we lack understanding, we can take steps to gain more knowledge and become more objective about our assets and liabilities.
By doing so, we will feel more empowered and in control of our financial situation. We can avoid falling into patterns of guilt and shame over not understanding money, which can lead to avoidance, herd mentality bias, and susceptibility to making bad financial decisions.
To make this shift in thinking, we can adopt a new mantra: "I believe in my ability to attain financial self-efficacy." We need to trust ourselves and our ability to learn and gain knowledge. Money is not a dirty thing in the corner to be avoided; it's a tool that can help us achieve our goals and create a better life for ourselves and those around us.
Improving our relationship with money is not about forming a personal connection with it, but rather understanding it objectively. By doing so, we can gain power and control over our financial situation, and avoid the negative feelings that come with lack of understanding. Adopting a positive attitude towards money and our ability to learn will help us achieve financial self-efficacy and create a better future.
Overcoming Negative Beliefs and Emotions in Pursuit of Financial Success
Many people hold onto negative beliefs and emotions when it comes to money, often stemming from the idea that it's a zero-sum game or a dog-eat-dog world. These beliefs can lead to a clogged "money pipe" and overcorrection behaviors, such as blindly investing in a "promising" opportunity. However, taking a step back and pausing to gain understanding and objectivity can lead to more successful financial decision-making.
Negative Beliefs and their Impact
Believing that "they just want my money" can be a pervasive and destructive belief when it comes to finances. This belief can lead to a closed-off mindset that limits opportunities and leads to missed chances for financial growth. Similarly, the fear that pursuing money means harming others or being taken advantage of can prevent individuals from pursuing their financial goals.
When the herd mentality is strong and FOMO (fear of missing out) kicks in, individuals may make rash decisions based on emotion rather than reason. Blindly investing in a "promising" opportunity without fully understanding the underlying processes is akin to buying a lottery ticket and hoping for a big payout. These overcorrection behaviors can be detrimental to long-term financial success.
Taking a Pause
When facing a financial decision, it's crucial to take a step back and gain understanding before making a move. If something is unclear, taking the time to reflect, research, and seek out more information can lead to a more informed decision. Even choosing to do nothing can be a win, as it prevents falling into a pitfall or making a poor decision based on emotion.
By taking a more objective approach to financial decision-making, individuals can reduce the impact of FOMO and other emotional drivers. By analyzing the numbers and looking at things objectively, individuals can identify true opportunities and make informed decisions.
Overcoming negative beliefs and emotions when it comes to finances can be challenging, but taking a step back, gaining understanding, and practicing objectivity can lead to greater financial success in the long run. By breaking free of the "money pipe" and avoiding overcorrection behaviors, individuals can make informed decisions that align with their financial goals.
The Impact of Childhood Experiences on Our Money Beliefs
We all have our money shit, and most of us grew up with some of it. For me, it was hearing my parents argue about money at night while I laid in bed awake. It was a memory that stuck with me, and I'm sure many others have similar experiences of parents or family members fighting about money. These memories teach us that money leads to fighting and disharmony. If we let that belief govern our behavior, then we are bound to continue making poor decisions with money.
The First Step: Catching Our Money Beliefs
The first step towards changing our relationship with money is catching our beliefs about it. We may have memories like getting in trouble for stealing lunch in high school or feeling worried about the cost of attending our dream college. These experiences can leave us with the belief that money leads to trouble or that it is the primary concern in any decision-making process. We must acknowledge these beliefs and accept that they may be holding us back from making better decisions with our money.
Ironing Out the Tension
The pursuit of money can create tension within us. On one hand, we may view it as greedy, yet we make decisions every day with the goal of making more money. This tension can be frustrating and can prevent us from viewing money objectively. We must begin to iron out this tension and become more objective with our money decisions.
Stick to the Plan
One way to become more objective is to stick to a plan. Consider what has made you money in the past and if you enjoyed doing it. Then, focus on doing more of that for the next 90 days without distractions or FOMO (fear of missing out) on something else. By sticking to a plan, we can avoid blowing up our money, time, skills, and preferences in the pursuit of more money.
Calming Our Emotional Reactions to Money
To facilitate this change, we need to adopt new mantras that help us calm our emotional reactions to money. "I am calming down my emotional reactions to money" is a powerful mantra that can help us view money more objectively. Additionally, we must recognize that there are a lot of cognitive biases surrounding money, and we need to calm our reactions to them. If we don't understand an opportunity, we must pause and either gain understanding or choose not to pursue it.
Our childhood experiences can leave us with beliefs about money that may be holding us back. We must catch these beliefs and acknowledge the tension they create within us. By sticking to a plan and calming our emotional reactions to money, we can become more objective and make better decisions with our money. It's time to stop viewing money as a dirty thing in the corner and start making empowered decisions with it.
The Destructive Power of Believing There's Not Enough Money
One of the most common beliefs people hold about money is that there's never enough. This thought pattern is deeply ingrained in our minds and can have a negative impact on our decision-making process. If you believe there's not enough money, it becomes a self-fulfilling prophecy that will keep you stuck in a cycle of financial insecurity. In this blog post, we'll explore the destructive power of believing there's not enough money and how to shift this mindset.
The Cost of Believing There's Not Enough Money
When we believe there's not enough money, we can develop a scarcity mindset that can lead to negative behaviors such as stealing food, avoiding bills, or constantly worrying about money. This mindset can also lead to missed opportunities, as we're more likely to turn down things we want or need because we believe we can't afford them. Our reality becomes one of lack and scarcity, which can prevent us from making sound financial decisions.
The Self-Fulfilling Prophecy
If we believe there's not enough money, it can become a self-fulfilling prophecy. We're more likely to make poor financial decisions, overspend, and take on debt. We can become trapped in a cycle of always wanting more money and never feeling satisfied. This mindset can lead to stress, anxiety, and feelings of helplessness. If we want to change this pattern, we need to shift our beliefs about money.
Shifting the Mindset
One way to shift our mindset is to start believing that we have or are near having enough money. By changing this belief, we can start making better financial decisions and avoid sabotaging our current situation. We can start asking ourselves questions like, "How can I afford this?" or "What do I need to do to get there?" instead of defaulting to "I can't afford it." This thinking exercise can help us become more creative with our money and find ways to make things work.
Not Blowing Up Your Money in Pursuit of More
Another important aspect of shifting our mindset is realizing that more money isn't always the answer. We need to stop blowing up our money in pursuit of more and start valuing the things that truly matter, such as our time, well-being, and relationships. We should applaud ourselves for not making poor decisions and realize that financial security is more than just having money in the bank.
Believing there's not enough money can be a destructive mindset that prevents us from making sound financial decisions. By shifting our beliefs about money and realizing that we have or are near having enough, we can start making better decisions and avoid falling into the cycle of scarcity. We should stop blowing up our money in pursuit of more and start valuing the things that truly matter. Remember, financial security is more than just having money in the bank.
What to Do When You're Out of Survival Mode
Money is often seen as the key to happiness and wellbeing, but the truth is that once you are out of survival mode, money doesn't play as big a role in your overall wellbeing as you might think. So what does improve your wellbeing when you're no longer just trying to survive? In this post, we'll explore some of the things you can focus on to improve your overall wellbeing.
Prioritize Time Affluence
One of the most valuable resources we have is time. When you're no longer just trying to make ends meet, it's important to prioritize time affluence, which means having the freedom and flexibility to use your time in ways that are meaningful and fulfilling. This might mean taking time off work to pursue a hobby, spending more time with loved ones, or simply taking a day to relax and recharge.
Invest in Your Relationships
In addition to time affluence, investing in your relationships can greatly improve your overall wellbeing. Rather than getting caught up in busy work, prioritize your connections with others and with yourself. Spend time building meaningful relationships with friends and family, and take care of your own physical and emotional health. This can lead to increased happiness and a sense of purpose in life.
Focus on Health and Wellness
Taking care of your health and wellness is also important for improving your overall wellbeing. Instead of spending hours clicking buttons and scrolling through social media, prioritize physical activity and healthy habits. Whether it's going for a walk, doing a yoga flow, or going for a swim, prioritize the things that actually improve your wellbeing.
Control Your Mind and Savor the Moment
Staying present and in the moment is another way to improve your overall wellbeing. Practice controlling your mind and savoring the moments that bring you joy. When you're enjoying something, take a moment to ask yourself why it feels so good. This savoring practice can help you enjoy the moment more fully and increase your overall happiness.
Find Your Flow
Finally, finding activities that put you into a flow state can greatly improve your wellbeing. When you're fully immersed in a task that is challenging and utilizes your unique skillset, you'll experience a sense of flow that can lead to increased happiness and fulfillment. Prioritize activities that allow you to experience this state of flow, rather than making decisions based on survival mode thinking.
When you're out of survival mode, it's important to prioritize the things that truly improve your wellbeing. Time affluence, investing in relationships, prioritizing health and wellness, controlling your mind, savoring the moment, and finding your flow can all greatly improve your overall happiness and sense of purpose in life.
Exercise: Flipping Your Money Beliefs
Now that we have explored the mindset shifts that can help you improve your relationship with money, let's conclude this class with an actionable exercise. This exercise will help you identify and challenge the limiting beliefs that you have about money and replace them with positive and empowering ones.
The exercise is simple, but it requires your full commitment and honesty. Get a pen and paper and write down every single belief you have about money. Don't judge these beliefs or try to rationalize them. Just write them down as they come to you. If you're struggling to come up with one, try to write down ten beliefs to get the ball rolling.
Once you have written down all your beliefs, flip the paper over, and write down the opposite belief next to each one. This exercise is not about convincing you to believe in the opposite belief but rather to show you that there is another perspective.
For example, if your initial belief is "money leads to fighting," the opposite belief could be "money leads to harmony." If you don't check your bank account, write down "I check my bank account" as the opposite belief.
The next step is to become the person who has those opposite beliefs gradually or all at once, whichever works best for you. Remember that there are people out there who already have those beliefs, so it's not impossible to change your own. You don't have to tell yourself that you have a healthy mindset with regards to money. Instead, focus on what will be useful for you and what will get you closer to what you really want.
Keep the opposite beliefs and actions in front of you, and glance at them often. When the programmed limiting beliefs come up, which they will, you will have an awareness of the other side of it. This awareness can help you challenge those beliefs and replace them with positive and empowering ones.
Remember, the point of this exercise is not to achieve an idealistic mindset. The point is to yield what is useful for you and get you closer to what you really want. Keep practicing this exercise, and over time, you will clear the money pipe and improve your relationship with money.
In conclusion, our beliefs about money have a significant impact on our financial behavior and ultimately, our financial outcomes. It's essential to examine our beliefs and challenge any negative or limiting beliefs that may be clogging our money pipe. By shifting our beliefs and behaviors, we can achieve greater financial wellbeing and success. Remember, noticing our mistakes is a gift that leads to positive change, so let's not beat ourselves up over past or current mistakes, but instead, let's embrace them as opportunities to learn and grow. Thank you for joining me in this exploration of tackling the big M-money, and I hope you have gained valuable insights and tools to improve your relationship with money.