Money is a big trigger for people, and understandably so. It is needed to engage in society and business and is inextricably tied in with our perceptions of security, survival, and worth. On a practical level, your relationship with money may affect your financial choices, personal goals, career and professional path, and even relationships.
As with everything else, beliefs are the foundation of what we experience with money. The tricky part is that most of our beliefs and assumptions are somewhat hidden. In other words, they live and originate in the subconscious mind. We are aware of our conscious mind on a daily basis, but the subconscious mind is what runs everything on an “automatic pilot” of sorts (including your body functions like breathing). It is underneath or not as accessible as the conscious mind, aka not visible or obvious.
So, in this post we are going to discuss how to identify your limiting beliefs about money, what causes them, how they may be affecting your financial reality, and how to begin to change them. To understand more about what is a belief system, check out this blog here.
It’s important to note that financial circumstances are also shaped by real, external factors. These can be highly stressful, upsetting, or unfair, and I want to acknowledge that. Don’t be too hard on yourself when investigating your beliefs. You are already in the 1 percent of humanity who is willing and able to take responsibility for your life. This requires facing hard truths about the part you have played in your experiences.
That being said, looking into your money mindset is one piece of the puzzle of growth and healing. You should always balance these ideas with practical steps, such as getting a financial advisor or researching relevant topics to help you better manage your money. Informed decision making will serve you best in all areas.
Beliefs and patterns form through many different avenues. The main causes usually include some combination of the following.
Your family of origin and how you grew up is often the blueprint of later life. This is heavy to consider, and perhaps not pleasant either. Most of us had less than ideal family systems, through no fault of our parents. This is due to generational trauma and repeating dynamics in families. If your parent(s) were raised a certain way, they will most likely do the same with you (or the opposite), again due to subconscious programming — not out of spite or wanting to harm you (outright abuse is a different story).
The other piece around family is how they perceived and spoke about money. In the same way that patterns often repeat if not addressed or healed, beliefs about various topics like money repeat as well. If you heard a parent, caregiver, or sibling talking about money being the root of all evil, or rich people being arrogant, for example, that may stick (especially if you heard it repeatedly).
Upbringing as well as childhood and adolescent experiences tend to have a greater impact than later events because our brain is still developing. And the subconscious mind that I mentioned above, is especially malleable and sensitive. When we’re young, we don’t have the same barriers of logic or interpretation we do later. The subconscious is more often in a theta wave state, which is similar to hypnosis. So, experiences we witness or live through in that state imprint strongly (and create beliefs as a result).
Cultural messages about money and wealth, as well as specific aspects of that like saving, spending, buying, or borrowing, all contribute to beliefs as well. A universal example is the belief that most of us hold that you must work hard for money. It “doesn’t grow on trees” and “blood, sweat, and tears” are required.
Maybe in your culture there are other expectations or beliefs related to salary, generosity, or financial etiquette.
Related are religious and spiritual beliefs about money. Some religions believe you must tithe a certain amount of your income, or that valuing money above other things in life is a sin or unwise. Certain groups associate having a lot of money with hindering spiritual growth or integrity. Being around these ideas or people with them has an impact, even if we don’t realize it.
Adult experiences also of course affect us. If you’ve had a particularly hard period related to money or you were a victim or fraud or some other scam, that can drastically change your views on money. Being fired, laid off, or filing for bankruptcy are some other examples.
Money beliefs may influence the following aspects of your life. Everyone is different, but they tend to affect everyday choices subtly in the background (like any belief system, which acts as a filter of sorts in your consciousness):
You do have the power to question limiting beliefs and develop more balanced attitudes toward money. Remember that changing thought patterns takes time and works best alongside practical financial habits and informed decision-making, as I touched on above. Here are a few key steps to get you started on the journey.
You may already have an idea about your limiting beliefs to do with money, or even a very clear picture. Journal or map out what you know or suspect needs addressing. If you’re not sure, just free write or meditate on past experiences and how those may have shaped your money mindset. What do you struggle with in particular? What walls or boundaries do you repeatedly come up against? What are your opinions about having a lot (or a little) money, and what are your assumptions about people in those two categories? (including yourself)
Another illuminating way to gain clarity on your beliefs is to track your past. What I mean by that is, take a walk down memory lane. Reflect on how life events have shaped you. Unfortunately, most of us have lived through trauma or other difficulties like loss, abuse, or betrayal. Consider what you might have picked up (often inadvertently) through those experiences.
This is a great exercise to do in every area of your life, actually. Check out my blog here for more about common limiting beliefs people have. But when it comes to money, jot down the most notable experiences, plus what your reaction was (including if any beliefs sprung up or were reinforced as a result).
Next, consider how you would prefer to relate to or reframe each money belief. Do you believe that financial freedom is possible for you? Do you feel you deserve it? Why or why not? Which beliefs or mindsets would bring relief, encouragement, or even a more balanced, realistic approach?
Once you have some identified, start “feeding” them to yourself. Begin to tell yourself these more positive stories and beliefs on a regular basis. When fears arise or daily self-talk is negative, push back. The brain learns through repetition, so you must persevere and repeat these new stories over and over until they become familiar. This is neuroplasticity (brain learning) in action.
Here comes the practical side of things again. Set clear financial goals, which can help you stay focused. Resources like online money manager tools or courses to educate yourself on financial topics are excellent too.
Finally, if you can afford it, hiring a financial planner is usually well worth it. This will take a lot of the burden of research and figuring certain things out off your plate and into the hands of a professional.
Congratulations on taking responsibility for your money mindset. You are now equipped to move forward with greater awareness about limiting beliefs and what you would prefer to cultivate within yourself. If you would like to take this journey further to investigate and clear the beliefs and energies not serving you in all areas of life, check out my ebook here or email me at [email protected].
© Copyright Centered One by Erin, LLC. All rights reserved.
Photos by:
Second image – mine
