Do you want to achieve financial success but find yourself held back by limiting beliefs?
We are often held back from achieving the financial success we desire due to common limiting beliefs. These beliefs can range from feeling like they don’t have enough knowledge, or that they need permission to make money decisions, or even that your worth is tied up in what others think of you. All these beliefs can lead to keeping you stuck and not taking action towards creating the financial future you desire.
By taking some practical steps for breaking common limiting beliefs you can gain the confidence and knowledge they need to take control of your financial future.
Today, we’ll explore how to overcome key limiting beliefs, gain confidence in making money decisions, how to develop a growth mindset around finances, and how to find mentors who can help guide you on your journey.
🌟Watch the full show (👇link at the end of the article) or read this show note for the most important nuggets of money wisdom.
Hello and welcome to Rise to Your Money Power where we have honest conversations to empower you around your relationship with money.
I’m Pamela Plick, your host. I am on a mission to empower women to confidently build wealth from the inside out! I help purpose-driven women to overcome feeling anxious, overwhelmed or stuck related to their personal relationship with money so they can become confident, achieve peace of mind, financial freedom and impact without fear. I do this through my signature programs and services, events and community.
Women’s financial success is a topic of growing importance in today’s world. Women are increasingly taking on more responsibility for their own financial wellbeing, taking on more leadership roles and seeking to make change in the world but can still be held back by limiting beliefs. Overcoming these beliefs that no longer serve is key to achieving financial freedom,reaching your true potential and bringing your unique gifts into the world in a bigger, bolder way.
Let’s start by discussing some common limiting beliefs that I hear from women:
- I am not good with money.
One of the most common limiting beliefs around money is the feeling that one is not good at managing their finances. This belief can be rooted in a lack of understanding of financial concepts as well as a fear of making mistakes. Women may also feel that they don’t have enough knowledge or experience to make sound financial decisions, leading to feelings of insecurity and anxiety when it comes to money management.
- I have to work hard or I will never achieve my goals.
If this sounds like you … This belief can be an obstacle in achieving financial success because it encourages a scarcity mindset.You may feel that the only way they can achieve your goals is through hard work and long hours, instead of exploring other options such as investing or creative strategies. This type of thinking can lead to feelings of burnout and exhaustion, preventing you from taking advantage of potential opportunities for growth. In addition, when you are overwhelmed and exhausted from working too hard, you’re more likely to make mistakes or take unnecessary risks with your finances.
- I can’t make money doing what I love.
Many women believe that they cannot make money doing something they are passionate about. This belief can be due to a fear of the unknown, a lack of knowledge about how to monetize their passion, and a feeling that their dream job may be too far out of reach. The truth is that there are countless ways to turn your passions into income if you take the time to research and invest in yourself. It is also important to remember that financial success doesn’t necessarily have to come from doing what you love full-time; it is perfectly okay to pursue your passion while still working a day job.
- No matter what I do, I can’t get ahead.
Although it may feel like you are stuck and will never get ahead, there are steps that can be taken to make progress. The key is to focus on setting achievable goals and working towards them in a measured way. Start by making a list of smaller objectives that can be achieved within a certain time frame, such as paying off one debt or saving money for an emergency fund. Once these goals have been met, larger goals such as buying a house or starting a business can become more achievable. Additionally, having reliable sources of income and budgeting carefully can help ensure financial security in the long run.
- If it wasn’t for my divorce, I would be in a better financial situation.
Divorce can be a difficult and emotionally draining process, and it often affects one’s finances as well. Unfortunately, the financial impact of divorce on women is much greater than it is for men, as women may have to pay alimony or child support, relinquish assets to their former spouses, or face other economic repercussions. This decreased income combined with increased expenses can further impede their ability to build wealth and save for retirement.
- I can’t raise my prices because I may lose clients.
It is not uncommon to be hesitant about raising prices, as many people believe that doing so will lead to losing clients. This type of belief in self-worth can be very limiting and damaging, as it may prevent one from recognizing and taking advantage of opportunities for growth. While it may feel safer to stay in your comfort zone and avoid risking potential lost clients, this mindset can actually have more negative consequences in the long run.
Here are three keys to achieving financial success:
1. Develop A Growth Mindset
Having a growth mindset around finances is key to achieving financial success. A growth mindset involves believing that one’s abilities and potential can be developed through dedication and putting in the work, rather than being limited by existing circumstances or abilities. To develop such an attitude, individuals should focus on setting achievable goals for themselves and breaking down these goals into smaller, more manageable tasks. Additionally, individuals should reward themselves for their progress as this will help motivate them to keep working towards their objectives.
Another important component of developing a growth mindset around finances is learning from mistakes. When it comes to money, mistakes are inevitable; however, it is important to remember that these experiences can be used as stepping stones to bettering one’s financial situation in the future. By reflecting on errors and understanding the underlying causes of why things may have gone wrong, individuals will be more prepared to make sound decisions with their finances going forward.
2. Make Money Decisions with Confidence
Gaining confidence in making money decisions is an essential part of financial success. To do this, individuals must first understand their own personal goals and financial situation. This includes being honest about existing debt and income, as well as assessing one’s spending habits to identify areas where changes may be needed. Additionally, individuals should also research the various options available when it comes to making investments or creating savings plans. This will provide them with a better understanding of the pros and cons associated with each potential strategy.
3. Find Mentors Who Can Help Guide You On Your Journey
Finding mentors who can help guide you on your journey towards financial success is a great way to stay motivated and accountable while making money decisions. It is beneficial to seek out experienced professionals, such as financial advisors or accountants, who have the expertise and knowledge to provide advice and guidance that is tailored to your specific goals.
Overcoming limiting beliefs about money and personal finances is possible with the right guidance and support.With practice over time, these steps will help you cultivate greater confidence when it comes to managing their finances which will ultimately put you on the path towards long-term wealth building plans.
If you would like to learn more about your relationship with money and why you make the financial decisions you do, take the “Money Type Quiz.” It takes less than 5 minutes and only you see the results.
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You can watch my full Rise To Your MONEY POWER Show episode here: