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Challenging the limiting beliefs, you have around money

In last month’s article, I spoke about the limiting beliefs we all have about money that was formed whilst growing up.

If you are serious about changing your current views about money, you need to challenge the beliefs you hold. However, challenging beliefs that have taken deep roots, can take time.

There are reasons you believe the things you do about money. It might be a root of fear, a scarcity mindset, or something else. You will have to find out what has led to your beliefs around money and understand that it doesn’t have to define you going forward. It is now time to change your negative beliefs and let go.

The biggest mistake people make that are working on their relationship with money, is thinking that a habit will fix their relationship with money. For example, “If I only stuck to my budget, then I’d feel good about money,” or “If I earned more, then I’ll be able to pay and afford all my financial responsibilities.”

Unfortunately, we have to work on our mindsets and our relationships with money, in order to make any changes stick. It is very hard to stick to a budget, when you feel restricted by the categories. It is also very hard to earn more money, when you feel conflicted about capitalism.

The combination of mindset and action is critical for change in all areas of our lives. Making a decision to reset the limiting beliefs that are holding you back and then taking action to manage your money, will create amazing results.

Firstly, you need to identify your currently relationship that you have with money. Write down your thoughts and feelings when interacting with money or any financial tasks.

Secondly, think of how you would feel having a healthy relationship with money. For me, it’s being confident and calm about my finances. You get to decide how a healthy relationship with money will look for you.

Thirdly, list all your unhealthy financial thoughts or practices. Do you avoid looking at your bank statements? Do you wait until the last minute to submit your tax return? Or do you maybe experience thoughts of money shame?

You can decide what healthy financial thoughts or practices you want to adopt. You are the expert on what you want your relationship with money to look like.

Create a roadmap to implement changes. Write down where you currently are, to where you want to be. Create small, manageable steps to get there, and practice at a cadence that works for you, be it daily, weekly, or monthly.

By understanding the factors that contributes to your relationship with money can help you pinpoint unhealthy financial thoughts or behaviours and help you to implement the steps to start transforming your relationship with money.

What are you waiting for?