10 Money Blocks That Will Keep You From Financial Success
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How to Overcome Your Money Blocks and Build a Money Attraction Mindset
Money blocks - whether you know it or not, you've probably had one at some time in your life. We grow up with ingrained ideas about money and our experiences at the beginning of adulthood (and even before) really shape what we believe about money and our financial situation. If you want to achieve financial success and have great financial health, then you have to eliminate the money blocks in your life. In this episode, we're diving into 10 popular money blocks and how you can shift the narrative to overcome them and find the financial success you're looking for.
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1. I’m bad with money.
You’re not bad with money. You can be unwise in your financial decisions or not have the financial know-how that you need, but that doesn’t make you inherently bad with money. If you feel this way, it may simply be that you don’t have the knowledge about money that you wish you had.
You can combat this by choosing to educate yourself more often about money. The more you start to learn, the more comfortable you’ll feel discussing money and looking at your own finances, and you’ll realize that you aren’t bad with money, you just have things left to learn and changes to make.
2. I’m not good at math.
And…..? Have you ever heard of a calculator? Being bad at math doesn’t mean you can’t be financially fit and get your money under control. There are tons of people who are awful at math that are running huge tech companies, speaking to large crowds, making millions of dollars, and thousands of other things.
Trust me, learning how to manage your own personal finances is nothing like the Geometry you learned in high school. Don’t hate on the numbers before you’ve had a chance to see how your finances can work for you, not against you.
3. I don’t want to feel tied down to the numbers.
Your budget shouldn’t be tying you down. Your money and your numbers shouldn’t feel like a weight on your shoulders. It should feel like the freedom and the relief and the permission that you need to go out and do the things that you want to do.
If you’re feeling this way, you’re budgeting the wrong way. Knowing your numbers helps you to understand where you’re at and where you’re going, not just remind you of all the things you can’t afford to do.
4. I’m bad at saving because it’s too tempting to spend money.
I understand wanting to spend your hard-earned money on things that you want! There’s nothing wrong with that. It doesn’t mean that you can’t also save money. Life’s too short to be just one thing, so why not be a spender AND a saver?
Start allowing yourself to believe that you can splurge on things you want and live the lifestyle that you want, while also being fiscally responsible and allowing yourself to put money away for the future.
5. I am / I’ve always been broke.
Where you are now and where you have been is not necessarily an indicator of where you’re going. The only reason this thought will affect your financial future is if you allow it to. Take control of your thinking and allow yourself to decide that the place you want to get to can be a different place that the one you’ve always known.
That’s the beauty of financial resources and learning about your money. You can learn the skills and strategies you need to get to the financial place you want to be.
6. I have too much debt.
Trust me, I feel this one with you! If you’ve ever had student loans, you definitely know a thing or two about some debt. But there’s no reason that having a debt or even a substantial amount of debt should be a money block for you.
It should be a motivator for you to do better, learn more, and get control of your finances in a way that will encourage you to get out of debt. Don’t let debt be the thing that holds you back from succeeding with all the other areas of your financial life. You can get out of debt eventually!
7. I’m too young / old to worry about my finances.
Maybe you’re in your 20’s and thinking there’s no reason for you to worry about investing or retirement. WRONG. If you don’t take control and get ahead of these things now, it’s only going to be more difficult to get control of later in your life.
Maybe you’re a little older and you’re thinking “I’m set in my ways with my money and it’s too late for me to worry about it.” WRONG. It’s never too late for you to decide life could be better for you. If you’re alive and breathing, you should want a better life for yourself and that can start with having better financial health.
8. I’ll never be able to retire anyway.
Whether you’re young and thinking in terms of social security and the economy or you’re a little older and thinking there’s no way you can save enough for retirement because you’ve waited, you can still save for your retirement.
Saving for anything is all about planning, so as long as you make a plan and stick to it, you can make it happen. Don’t let this thought hold you back from saving money now, just because you’re worried about what might happen when it’s time to retire.
9. I don’t make enough money to budget / plan.
Most of us have felt this way at one time or another. If you’re working a job where you can’t just make more money, and you resent having to do a budget because you know it’s just going to come out negative, that’s MORE of a reason for you to be doing a budget.
A goal is useless without a plan to get there, and your budget, your savings, your investment portfolio are your plans to get there. These are the tools that will help you reach your financial goals, but you have to actually utilize them, which means sitting down to do a budget, even when you don’t want to.
10. I grew up poor or wasn’t taught about money.
This is just like the one about being broke. You grew up poor so that automatically means you always have to be poor? Nope, nah, keep trying. And if you weren’t taught about money growing up, shouldn’t that excite you about all the different parts of finance that are out there for you to learn?
If you keep using this as an excuse against financial literacy then you’re always going to stay on this road going nowhere. You have to decide to get the resources, invest in your finances, and make the active choice to keep learning and growing so that you can do better than the hand you were dealt.
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