Harris-Courage & Grady, PLLC
Overcoming Limiting Financial Beliefs
Addressing your beliefs is a good first step if your financial situation isn’t what you’d like it to be.
We see clients who feel financially stuck—part of the reason for this is that they hold unhealthy financial beliefs. We want everyone with financial difficulties to know that change is possible.
Change Can Start with Changing Your Beliefs.
Here are a few common limiting beliefs regarding money:
- “I can never get out of debt.” This simply isn’t true. If you cannot repay your debts, bankruptcy can eliminate them. You can become debt-free, and stay that way.
- “My earning capability is limited.” You may believe that the lack of a degree or the right connections places a ceiling on your earning potential. However, with a little creativity, you can increase your income.
- “I’m not good with money.” This belief certainly limits your ability to earn and retain money. You may have made mistakes, but those mistakes don’t have to be permanent. You can learn how to manage your money.
These are just a few examples. Do you believe any of these things about yourself? Try making a list of your beliefs that limit you financially. You need to identify them before you can change them.
You can change your limiting beliefs about money.
- Recognize that these beliefs aren’t reality. Your past experiences may not have been representative of how things normally work. You may have been given poor advice. You may have come to faulty conclusions. Beliefs can be deceiving.
- Choose an alternative belief. For example, instead of saying “I’m not good with money,” tell yourself “I will learn how to manage my money.”
- Examine why you hold your current negative belief. Maybe you grew up in a family where debt was the way to get what you wanted. Maybe you made unwise decisions because you wanted to have something someone else had. Understand why you have the belief in the first place.
- Find information to support your new belief. There are many examples of successful people who have been in financial difficulties. There are also many self-help books, websites, and YouTube channels for people who want to learn how to manage their money. Our office is a good resource for overcoming limiting beliefs regarding debts.
- Monitor yourself. Notice when the limiting belief occurs. Quickly remind yourself of your new belief. Remind yourself of why the old belief is wrong and the new belief is correct. With enough evidence to support your new belief, you’ll soon have a new mindset about the topic.
Changing your financial situation begins with changing the way you think about money. You can do it. We’re here to help. Call our office for a free, confidential, no-obligation phone consultation to get yourself on the path to financial well-being.