Nine Money Beliefs That Will Hold You Back

What we say and what we think about money translates into how we handle money and how much we earn and more importantly how much we keep. 

At my seminars they ask attendees what they heard about money and wealth when they were young and invariably the words they heard were negative.

Things like:  dirty money, filthy rich, it’s easier for a camel to crawl through an eye of a needle than for a rich man to go to heaven.

You’ve heard these phrases; you’ve probably even used some of them at times.

But if deep down, at some level, you have some negative thoughts about money, how can you be comfortable earning and keeping more of it?

Steve Siebold, the author of five books and an expert in the field of critical thinking and mental toughness training recently shared nine money phrases we have all heard before, and that many of us say both consciously and subconsciously all the time.

He warned to be careful, as some of these seemingly harmless phrases about money can actually interfere with your wealth-building process.

Let’s take a look at nine of the most popular phrases about money:

It takes money to make money

This phrase is limiting at best and destructive at worst.

The truth is you have to have great ideas that solve problems to make money.

If you do, you will attract money like a magnet.

Wealthy investors are always on the lookout for the next big investment they can sink their teeth into.

Money doesn’t grow on trees

Figuratively speaking, money does grow on trees; and the trees are ideas.

This belief sets people up to believe money is scarce and difficult to earn, instead of seeing money as abundant and earning it is as easy as solving a problem through persistent, creative thought.

Another day another dollar

The masses trade time for money.

This creates the belief that making money is a linear process directly connected to time.

The average person believes the only way to make more money is to work more hours.

Big money requires thinking about it in non-linear terms.

Money is the root of all evil

The real saying is actually “the love” of money is the root of all evil, but has been misquoted for centuries that most people believe money itself is the root of all evil.

Decide to be proud of your ambition and ignore people who tell you that wanting to be rich is wrong.

A penny saved is a penny earned

This is a very dangerous belief as it put a major emphasis on saving.

Saving in itself is not bad, but the masses are so focused on clipping coupons and living frugally that they miss major opportunities.

People must reject this nickel and dime thinking and focus their mental energy where it belongs: on the big money.

Money can’t buy you happiness

The most common misconception about money is that more will make you happier.

You don’t get rich to get happier; you get rich for the freedom it brings.

It allows you to live life on your own terms, but it’s unlikely to make you any happier.

If you’re unhappy without money, you’re not going to be happy with it.

A penny for your thoughts

This is usually a harmless phrase when people just want to know what’s on your mind, but be careful.

If overused and it penetrates the subconscious, you’ll start giving away your intellectual property for practically nothing.

Your IP and unique perspective can potentially be worth millions if packaged properly.

Selfishness is a virtue

The masses are programmed from an early age to put the needs of others before their own.

While this sounds like a spirit-driven, high-level philosophy, it’s the worst advice you can get when it comes to money.

In order to make a lot of money, there is a period of time in the beginning of the wealth building process where you must focus on yourself and your business in order to make it at an uncommon level.

Once you acquire wealth, then you can volunteer or give back to charity.

More money more problems

Another myth among the masses is the idea that millionaires are workaholics overloaded with so many problems they don’t have time to enjoy life.

This is another excuse the middle class uses to justify being broke.

It’s as if they’re looking for a reason to avoid success by making it seem unattractive.

The truth is the more money you have the more control you have over every aspect of your life.

The more money you have, the fewer problems you have to personally address.

While the masses are staying up at night worrying about their problems, millionaires are fast asleep knowing everything will be taken care of.

The Bottom line:

When it comes to money, the best advice is to always look at it from a consciousness of freedom, possibility, opportunity and abundance.

Never look at money from a fear and scarcity point of view.

Start today by building beliefs about money that serve your best interests and help you develop substantial sums.

It’s not intelligence or education that holds back the average person from getting rich; it’s the middle-class beliefs around money that keep them struggling to survive in a world of abundance.

If you want world-class wealth, copy the beliefs of the wealthy.

If you’re rich, keep thinking the way you’re thinking. If not, maybe it’s time to change the way you think about money.