Everyone has beliefs about money, some positive and empowering, others negative and limiting. But today, achieving success in your career requires more than just talent, hard work, and time: you also need a “money mindset” that steers you closer toward your goals.
If you’re not sure your money mindset is serving you, it might be time to explore any limiting beliefs you have around money and learn how to shift your point of view so you can start welcoming your worth.
What’s a limiting belief, you ask? It’s a thought that you keep on thinking– that may be limiting you in your life.
So, What Are Your Limiting Beliefs About Money?
There’s no doubt that beliefs about money influence your decisions, work habits, and attitude toward success. In a study conducted by Ramsey Solutions, 80% of 10,000 millionaires did not receive any inheritance from their parents and 93% believed that they would become millionaires.
This indicates that outlook has a greater impact on success than people might believe. Yet, it’s not always so obvious that your relationship with money is holding you back. Before you can take steps to change your money mindset, you first need to be able to identify your limiting beliefs. Here are a few questions you can ask yourself:
- “What was the conversation around money or success like in my house growing up?”
- “If I create a lot of financial success, what am I afraid I’ll lose?”
- “If I create a lot of financial success, what will I gain?”
- “What is the worst thing about money?”
- “What is the best thing about money?”
- “How much money feels like too much for me to make?”
- “How much money is enough?”
- “Does enjoying money make me greedy or superficial?”
- “Is it possible to make a lot of money working in my zone of genius?”
The more accurately you can identify your thoughts around money that don’t work in your favor or align with your goals, the faster you can let go and open yourself up to a new way of thinking.
Upgrading Your Money Mindset and Welcoming Your Worth
1. Set an intention.
Be clear with your intention. Not everyone wants to be a CEO or multi-millionaire, and there are no “good” or “bad” ways to look at money. But there are mindsets that are more or less helpful in reaching whatever your goals are. Figure out what is right for you.
2. Notice your limiting thoughts as they occur and replace them with more helpful beliefs.
Practice replacing your old, less helpful thoughts with more useful beliefs as they arise in the moment. By repeating this day-to-day, you will notice a gradual shift in perspective that can be the difference in landing that big promotion or getting the raise you’ve been working toward.
For example, younger professionals often fall into the trap of feeling guilty for earning more money than their peers. The limiting belief sounds like this: I should be happy with my salary. I make more than a lot of people my age, and I might come across as entitled if I ask for a raise, even if I think I deserve it.
Replace this with something like: Wanting a raise doesn’t mean I am ungrateful for what I have. I can recognize the positive things I already have while still feeling that my pay should reflect the work I do, regardless of what my friends make at their jobs.
3. Surround yourself with positive people.
Positivity and negativity are contagious. Keep friends and family who support and encourage your financial growth close. Notice the people who make you feel embarrassed or ashamed for wanting to improve your circumstances. Set boundaries and give your energy to the right people who foster your personal growth.
4. Choose the information you consume wisely.
In the digital age, there are so many sources of information, and not all are equally good for you. Avoid content creators who engage in negative self-talk or who do not embody the career mentality you want to adopt. Choose your books, podcasts, and other sources of information wisely.
Your money mindset is a powerful determinant of your career trajectory and overall job satisfaction. By recognizing the impact of your beliefs about money and taking steps to cultivate a positive and growth-oriented approach, you can unlock your full potential, pursue meaningful opportunities, and achieve success in your professional life.
Remember, money beliefs run deep and you won’t be able to flip the switch right away. The journey to a healthier money mindset is a continuous process of self-awareness and learning, and there’s no better time than the present to get started.
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