Did you know that you have money beliefs? First, let’s define beliefs:
1. a state or habit of mind in which trust or confidence is placed in some person or thing
2. something that is accepted, considered to be true, or held as an opinion : something believed
3. conviction of the truth of some statement or the reality of some being or phenomenon especially when based on examination of evidence
1a. to consider to be true or honest
1b. to accept the word or evidence of
2. to hold as an opinion
Notice that “scientific truth” or “proven in a court of law” are NOT in the above definitions. This is good news–this means beliefs aren’t really true and means you can change the ones that don’t serve you. We all have beliefs that don’t serve us:
“I’m just not a good public speaker”
“I can’t ever get up early”
“I’ll never be able to retire”
“Money is tight”
Our money beliefs have been spinning in our minds for decades. Let’s explore how they came about.
Your Past Money Beliefs
We all learn about money in different ways but for the most part it’s a culmination of what our parents taught us (or didn’t), what they said, what our friends said. What society believes. And we’ve internalized it …. And think it’s true.
I was just under 2 when my family emigrated to the United States from South Korea. My father’s company sent us here with green cards. He lost his job a few years after. I remember them trying small business idea after idea only for them to end in failure. After several failed ventures to make ends meet they filed for bankruptcy when I was in elementary school. So, it was obvious right?
Money is hard.
And so we moved … we moved a lot. Always to a smaller apartment. I never had my own room and shared it with my younger brother. I grew up attending church. We would often spend time with church families and a few of them were quite affluent (well at least they appeared to be so). They had nice big houses, cars and other nice stuff. And of course, I remember that the kids all had their own big rooms with nice things. So it was obvious right?
We just aren’t going to be rich like them.
Fast forward – I’m in middle school and I’ve started making some money with a babysitting job. At that time, the fancy people had these black suede shoes by Bass — and I’ve finally saved up enough money to buy myself a pair. I’m so proud of myself and thrilled that I can finally have these shoes. So I go to the mall with friends and buy them. But my mom made me return them. She said they were too expensive and it’s not good to want or have nice things. I remember feeling ashamed to want something nice for myself.
It’s bad to want nice things.
What money beliefs did you grow up with?
Your Current Money Beliefs
For the most part, our past informs our present beliefs–perhaps somewhat upgraded:
“I’m a pediatrician so I’ll never be rich”
“It’s too late for me to retire early”
Over a year ago I found myself in a private practice not making what I thought I was going to make. I was angry and blamed my employer for months. My belief at the time was something like this “It’s their fault I’m not making enough money.” And I felt incredibly trapped. It wasn’t until I was able to see that this was a belief and not the truth that I was able to do something about it. As long as I was placing blame on them there was absolutely nothing I could do about it.
Have you ever paused and considered whether these thoughts are actually true or not? For some of us – you’ve believed these thoughts over and over again so many times that they seem like the truth. And other people (your colleagues) agree with you … further validating your beliefs.
What if all of these beliefs are not true? What if I told you that these thoughts are not only NOT true but you have the ability to create new money beliefs?
If you could believe anything about money – what would you believe?If you could believe anything about money – what would you believe? Click To Tweet
“Money is easy”
“Money is fun”
This may seem like a big stretch for you if you currently believe money is hard. Using bridge thoughts may help such as:
“It’s possible that money isn’t hard”
“I’m open to learning that money can be easy”
What we think and believe is paramount because it affects how we feel which in turn affects our behavior or actions.
What does our behavior and actions over time give us? Our life. Everything we have or don’t have, everything we are now, is because of actions we took over time.
What do you think truly wealthy people think about money? I bet it isn’t “Money is hard to come by.” It’s easy to think they are unique or unicorns instead of considering whether what they are able to do is available to us.
Your new money beliefs should make you feel good! Now identify one action you can take towards creating wealth. Write it down! You do not need to know the whole plan or how-to at this point.