Money Mindset Myths
Updated: Mar 13
Money mindset is MASSIVE at the moment - and it's absolutely key if you want to thrive in your business. But... there are some myths and misconceptions that might be getting in your way, even if you think you've done the work.
Let's dive in and explore them so you can be 100% confident you've got your money mindset covered.
Check out the podcast episode here - or if you'd rather read, keep on scrolling!
GET YOUR FREE MONEY BLOCKS CHEAT SHEET HERE
Working on your money beliefs and self-worth can make ALL the difference to your business. I’ve seen it time and time again - people who know exactly what they should be doing to earn more but are stuck at a certain level of income or just feeling stuck and frustrated in their business generally and can’t figure out why that is… often it spills out into procrastination and not taking action on fantastic ideas, struggling to get leads or even getting leads but not being able to convert them into sales.
If something isn’t working in your business right now, the chances are there’s some funny money & self-worth stuff going on there… and even if you THINK you’ve done the work around money, if you’re identifying with the things I’ve said there then there’s probably more to go.
So I want to just explore some of the ideas people tend to have around money mindset today and explode a few myths that can really get in the way of you nailing it and being able to open the gates to earning more and welcoming more abundance into your life.
So I’m going to jump right in there, grab it by the balls and tackle the biggest myth of all - the fact we’re calling this ‘money mindset’.
I know… it’s got a nice ring to it, right?
But it’s not a mindset issue.
If it was mindset it would be a case of just thinking - ‘oh yeah, I’m cool with the idea of more money - I’d like some more of that please!’.
Mindset is just basically about turning our thoughts in the right direction.
And I think MOST of us are pretty happy with the idea that we’d like more money. We already HAVE the mindset that money is awesome and we want more of it!
I know not everyone feels that way though because I’ve been there and I’m going to cover that in a later episode - because even if that’s the case for you, there are some things you should really think about and I had a massive wake up call which really changed my perspective. So what we’re talking about here is way deeper than mindset - we’re talking about the subconscious beliefs we have that sabotage us even when we’ve got a good mindset around money.
So a lot of the time you’ll hear money mindset coaches talking about how we view money as good or bad… or more accurately, PEOPLE with money as good or bad.
And that’s one of the nice top level checks you can do to work out what your subconscious is really thinking… just writing out for yourself ‘people with money are…’ and completing that sentence.
Or ‘money is…”, another great one.
And if your answers are negative - there’s a good chance you’re subconsciously repelling money even if you have the mindset that you want more! GET YOUR FREE MONEY BLOCKS CHEAT SHEET HERE
Another great check is how you feel talking and sharing about money - if you know you want more money but you don’t feel comfortable discussing it, that’s a big red flag that you subconsciously feel really icky around money and there’s no way you’re going to win against your subconscious - so you’ll be repelling money no matter how great your mindset!
This is not mindset.
It’s subconscious beliefs that are there for very good reason, in our mind’s eye. They’re there to protect us from getting hurt.
And that’s not just something you can think your way out of - you need to fundamentally change those beliefs so you’re living them and you genuinely feel fantastic around everything to do with money, rather than having to keep reminding yourself of how you should be feeling! THAT’s when the magic happens and you start to attract more.
So I do that for myself and my clients through hypnosis which is one of the quickest and most effective ways of rewriting those money stories for good - and I can’t tell you the difference it makes!
So can you just do it all from reading books and journaling?
Yes…. and no.
For something to be subconsciously accepted by our brain 2 things need to happen:
We need to get past our internal filter - that bit of your brain that says ‘that’s very nice but it doesn’t apply to me’. Like if I told you you could run a marathon when you’ve never done 5k before… there’s a bit of your brain that only believes your current reality and hangs on to your existing beliefs. Until you break that barrier down you’re subconsciously going to hang on to keeping things just as they are.
We have to keep repeating those new beliefs and reinforcing them for them to sink in. Our brain usually needs to experience something - a new thought or fact about life… multiple times before it really starts to adopt that as truth.
So if you’re doing it through reading and journaling, once is not going to be enough - you need to reframe your beliefs - that is, rewrite them with new ones - many times over and you need to keep doing that whenever they crop up in real life.
And they are sneaky! So you’ve got to watch out for them - because your brain will make them feel very comfortable and very ‘true’. Often it’s a bit like one of those smack the rat games… just when you’ve nailed one, it’ll pop up somewhere else in a different way.
That’s why people talk about it being constant work rather than just a one-off - because if you’re doing it the journaling way, it really has to be.
And that leads me on to the next big truth, which is that it ISN’T just about money either. So it’s not mindset and it’s not money.
What I often find with my clients is that there are big self-worth struggles and stories going on in the background too. So they treat money in a certain way because of how they feel about themselves. And they reinforce low self-worth and confidence through lots of other things in their lives, too. Things like how they treat themselves, putting themselves last. How they interact in relationships, how they eat, how they dress and look after themselves, how they treat their environment. So even if you get really cool with money and do all the work on that you can still end up repelling it because you don’t feel worthy of being the person that would have that sort of income.
If your self-worth is low you will still find it hard to get visible, to feel really confident attracting clients, to make bookings and sales…
So that’s just worth thinking about if you think you’re really sorted on the money blocks front. Are there any areas of your life where you’re treating yourself like less than that person you’d love to be if you had the money? Are you denying yourself things now? Is there anywhere you’re feeling ‘less than’..?
Because to earn more you’ve GOT to feel 100% worthy. Being that worthy, confident business leader doesn’t come once you’ve got the money… it has to come BEFORE.
Now… on that score there is a very fine line between treating yourself like you’ve already made it and getting sucked into ANOTHER issue with money.
I call this the spending trap!
So one of the big strategies for increasing your perception of yourself as worthy is leveling up your lifestyle as you go… stretching that bit more so you’re buying nicer things and investing in things you wouldn’t have bought before, or maybe services like a cleaner etc.
And that IS really important but…
You have to watch it because it can easily tip over into another sneaky way for your subconscious to sabotage your wealth. Because increasing your wealth isn’t just about earning and accumulating more. In fact one of the most common traits of seriously wealthy people is that they’re actually pretty frugal and sensible with their spending.
So yes, absolutely - level up your lifestyle especially if it’s investing in services that are going to give you more time and freedom… but just ask yourself when you’re making that new purchase whether you REALLY want it, or is it just another good way to burn money.
Would that money be worth MORE to you if you perhaps invested it and put it towards creating more wealth?
GET YOUR FREE MONEY BLOCKS CHEAT SHEET HERE
Having a great relationship with money and creating more wealth ISN’T all about earning more.
That’s a really huge focus in the entrepreneurial space, but I think we can become so focused on that that we forget to look at other ways to increase our wealth and the bigger picture around how we treat money.
Earning more doesn’t necessarily mean you’ve got a great relationship with money - and if you’re not treating what you’ve earned well, that’s a whole extra layer of work that you need to do. So I personally got to grips with investing this year and it was SO liberating. It was something I had always thought was too complicated, too scary, not the sort of thing that people like me did… but I realised that having money sitting in your bank account nowadays actually means it’s losing value.
There’s no point working super hard setting up a business and doing all the work we do if some of it effectively goes down the drain just because we’re not using it properly! And by using it properly I mean you can actually leverage what you’ve earned to create MORE wealth if you get to grips with investing, whether that’s in property, in stocks and shares, whatever it may be… and that I think is a huge barrier that gets ignored in most money mindset work, especially for women. We sort of think it shouldn’t apply to us - but it HAS to if you really want to create financial freedom. So I would really advise working on that and getting yourself a financial adviser, just to help it seem less complicated - I did that and it was so worth the investment. I would love to get my coach Claire Sweet on the show actually to talk to you about this stuff because it’s SO important and she makes it seem so much easier.
So my final myth is that the work is never done.
As we said earlier - yes it takes time and repetition if you’re doing everything the slow way, identifying your limiting beliefs and journaling to reframe them.
I am actually going to put a free cheat sheet in the shownotes to help you do that, if you’re not really sure how!
But if you just wish you didn’t have to do the work and you’re not big on journaling, you can totally clear your money and self-worth blocks and create a whole new set of beliefs really easily. I do this in a half day VIP session for my clients, I record a bespoke hypnosis audio after we’ve done some work on identifying and reframing everything that’s going on for them… and then we check in with each other again a few weeks later to see what’s changed and tidy up any last remaining dregs. It’s SO effective because using hypnosis breaks down that barrier we talked about so we directly access the subconscious mind, and then the audio just does the work so you don’t have to keep doing it over and over!
That’s what I’ve found to be really effective… the month I did it I earned 5 times more than I’d been earning before!
If that’s something you want to experience for yourself and you’d like to know more, just drop me an email at firstname.lastname@example.org, or get in touch.
I would love you to get in touch to let me know what YOUR biggest takeaway was from today’s episode - is there anything here you really identify with?