It’s true that our minds are more powerful than our bodies and even our actions. In fact, the subconscious mind can dictate our actions. This is no different when it comes to money and money matters. What we subconsciously believe about money, whether we view it as a utility or a luxury or linked to our self-worth, can ultimately determine how we use and invest it.
There has been a lot written about money beliefs; believe you are rich and eventually you will be, keep believing that you are unlucky with money and that’s what your reality will be.
The idea of being aware of money beliefs is not just believing whether you are rich or poor. Rather it is about being aware of how you think about money, so it can help you reach your potential financial freedom.
Financial freedom is about being your best self and utilising your time in the most satisfying way.
Being financially free can bring about a stress-free life. To get there you not only need to be aware of your money beliefs but also let go of the one’s that prevent you from living your best professionally and personally. Here we discuss some limiting money beliefs that you can let go of.
“I’m not capable of making money decisions “
Often, we need someone else to make our money decisions. We believe that a parent, a friend, a co-worker can somehow be a better judge about where and how we can use our money. It’s futile to think like this.
Only when you take responsibility for your own money decisions will the outcomes be the ones you want to see.
You may have to do a little bit more research and spend time understanding financial investments, you may even entrust the money management to a professional qualified to do this, but the decision making must still be yours. You don’t need to outsource that part.
“Do I deserve it?”
When there is a money bounty you hadn’t envisioned for yourself earlier, you may feel overwhelmed. If it is not something you had before, you may even think that you don’t deserve it. This is the second money belief that pulls us down, the belief that ‘I don’t deserve it.’
If you have worked hard or invested your money well, you deserve the wealth that’s being created.
Your hard work has probably added value to someone else’s life or your company; you deserve what you get paid for it. If you have made your investments well and you are seeing wealth creation from those, then you deserve that wealth too.
“Does having more mean I am greedy?”
Lastly, there is a belief that having more money makes you greedy. We all have a different threshold for what is enough. Trying to build wealth is more about moving closer to financial freedom than greed.
You have to sustain the lifestyle that you are comfortable in and only when you have more than what’s needed for that, will you be able to indulge in actions like giving.
More is not always about greed; it is how we use this ‘more’ that will define the intention and the outcome.
Here we have covered negative money beliefs and the idea that letting go of these is important for your financial growth. However, the opposite can also happen.
If you have positive money beliefs which let you take the appropriate risks to create wealth and move towards financial freedom without harming others, then you must embrace those and move ahead.