Why Beliefs About Money Could Hold You Back


We all tend to have a weird, ambivalent relationship with money and wealth.

We want money, the things it can buy and the security it affords us. On the other hand, we feel uncomfortable about having it.

In fact, when it comes to money, we often harbor a paradoxical mixture of negative beliefs.

We think money is bad in some ways or that rich people are jerks. We have limiting beliefs. We believe we’ll never have enough money or we can’t manage money. We also have untenable beliefs, like money will buy freedom, happiness and love.

Many people don’t realize that their beliefs affect their ability to attain wealth and enjoy success.

Oftentimes, our beliefs are deeply embedded in our subconscious or rooted in our culture. If the conversations we had about money during childhood were mainly tied to struggle or survival, we may have to work hard to overcome feeling guilty about spending money or having the income and lifestyle we desire.

A negative relationship with money can show up in one or more of three realms: earning, spending and saving/investing. Take, for example, the platitude: I’ll start saving once I begin making “real” money. Of course, there is no threshold for “real” money, and this idea makes it all too easy to procrastinate about putting a savings or investment strategy in place. You stand a better chance of long-term financial success if you save on a regular basis, regardless of what your income is.

Other beliefs that prevent people from achieving wealth include:

  • I can never work hard enough to make enough money.
  • I’m not deserving and will probably never become successful.
  • Wealth is all about acquiring and having material things.
  • I will never be able to get out of debt or stop living paycheck to paycheck.

The fact is that wealth has little to do with how hard you work or even how much you earn – and everything to do with how you think about money and prosperity.

Having access to more money without changing how you think about money will most likely only keep you in a self-defeating cycle.

Furthermore, it’s hard to be in a position of prosperity while holding judgmental views about other people who have the kind of wealth you want. In reality, truly wealthy people understand the value of money, its place in life and the importance of being conscientious about it.

In order to achieve real financial success, it is necessary to replace negative money beliefs with a healthy, positive mindset about affluence, an effective strategy for acquiring and building wealth, a commitment to preserving the fruits of your labor, and an attitude that enables you to enjoy your good fortune.

It is important to acknowledge and challenge dysfunctional beliefs about wealth so that money issues don’t become barriers to success.

There is no shame, guilt or evil associated with earning a good income or investing wisely to support the quality of life you want to live.