Whether it was due to your family, the media, or society at large, undoubtedly you have some money beliefs. They may be positive and supportive of your financial wellbeing or they may be crippling to your ability to grow, spend, and save your money wisely.

Forbes has classified money beliefs into four categories, 3 that are problematic and 1 that is neutral. The beliefs that are categorized as money avoidance, worship, and status could be holding you back from gaining wealth, while money vigilance might not negatively affect your relationship with money.

Common money and investing beliefs

Do you have any of these common money fears or investing beliefs?:

• I’ll be happy (successful, respected, loved, etc) only when I have money.

• I never have enough money.

• Money is evil / the root of all evil.

• Money only comes through hard work.

• You need money to make money.

• Investing is only for rich people.

• Investing/money isn’t safe.

• I don’t know how to invest and I’ll lose all my money.

• It’s not okay to accumulate more wealth than I will actually need.

You may have some of these, or your own. You may be aware of them or some of them may be hidden, yet they still affect your attitude towards and relationship with money.

Money fears and beliefs may come from your parents, family and friends. For example, you might have been told “we can’t afford that” or “money doesn’t grow on trees.” You might also have ingrained phrases like “filthy rich,” which create a negative connotation of having wealth. Money fears can also come from a lack of financial education and having good financial literacy. You may have absorbed money beliefs from misinformation that’s get spread around or through a culture and economic system that has been engineered to ensure the rich get richer.

Regardless of where money beliefs came from, you can do something about them. But first, you have to be aware of which you have and how they’re affecting your financial life.

Recognize your money beliefs and work through them

This is going to be a three-part exercise. Grab a pen & paper to start.

Part 1. You may already know what some of your money beliefs are; if so, write them down. Keep writing until no more money beliefs show up. Try to let your pen keep flowing, writing everything related to money that may come up for you. The process autonomic writing can help bring out what’s in your subconscious, allowing you to write down money beliefs you didn’t even know you had (this is why pen and paper is more effective than a digital notepad). Just keep writing until everything related to money is on paper.

Part 2. Once you’ve gotten everything down on paper, go through and identify the money beliefs in what you wrote. It’s time to examine them. One-by-one say each one out loud and notice your sensations and reactions. Does it feel true for you? Is there some tightness in your chest or stomach when you say it out loud — that likely means it feels true to you. If you don’t feel or notice anything, then that’s probably not an issue for you. Once you’ve identified all the money beliefs you’re holding onto, move to the next step.

Part 3. For any negative money beliefs or fears you may have identified, you can start to change them. If you like journaling, write 3-4 examples of where that belief doesn’t hold true or doesn’t apply to you. Maybe you’ve outgrown it and can see why it isn’t true for you now. Or maybe you know people or read biographies where that money belief isn’t true. This is a very logical and methodical approach to changing your thinking and beliefs.

If you prefer a way to address the subconscious, you might try EFT tapping. With EFT tapping, you tap along the meridian points (discovered by ancient Chinese medicine doctors) while saying a phrase to clear negative beliefs, fears, anxiety, or overwhelm. It might sound hokey, but it can be very powerful. You can repeat the tapping sequence for every money belief or fear that you want to release.

You can follow along with this video. If this isn’t your money belief, feel free to substitute in your own.

If you’d like to work with someone on discovering and overcoming your money beliefs, contact me to schedule a free consultation. I can help you cultivate the right money mindset, including overspending, living in scarcity and lack mindset, and seeing money as evil and lacking the power to do good.

What money beliefs came up for you? Leave a comment about your experience with overcoming limiting money beliefs.