13 Limiting Beliefs About Money – and How to Conquer Them

Your attitudes will help you to identify your beliefs about money. Let’s say you want more money but are having trouble with that. It is worthwhile, then, to ask yourself: What is my impression of rich people? Am I resentful of them? If so, what signal does that send out to the universe? Probably that you don’t want anything to do with “those people”! Why then are you surprised that you’re not attracting wealth into your life? After all, your attitude suggests you don’t feel comfortable with it, and might even be scornful towards it!

I once read a book on how our beliefs create our personal reality. It was a useful book, but there was no list of limiting or empowering beliefs. I wanted the list! So I created one myself. Below are some examples of limiting beliefs about money. You may have different ones. Look through the list and ask yourself: Which of these beliefs could be holding me back? Once you have determined your own limiting thought patterns, you can take steps to change them. There might be a lot of history and justification behind the belief, but it has to go if it is holding you back.

To start the process, I encourage you to swap out a limiting belief for an empowering one by repeating the positive mantras offered below either to yourself or out loud throughout the day. If any of these limiting beliefs about money sound like things you tell yourself, firehose them. Beliefs are like dust, they keep reappearing and you have to keep cleaning. To solidify the change, actively look for examples that positively reinforce your new, empowering belief. It’s common for people to have a negative belief and find examples that justify them, while ignoring positive examples.

LIMITING BELIEF #1: My situation is someone else’s fault. Someone else will take care of me. The rich get richer and the poor get poorer.

Some play the victim role or believe that a man will provide for them. Placing the accountability outside of yourself can mean that you don’t pay attention to your money or focus on managing it for yourself. It is especially disempowering because it gives away your responsibility to care for your own financial situation. Your life is the result of the decisions you make. If you blame your situation on someone else, you’re not taking responsibility for your actions. Whenever you give up responsibility, you lose power and influence over your life.

Turn it around with this empowering belief: I can take care of myself. I can do it myself.

LIMITING BELIEF #2: Money is evil. Money spoils you. Money is not spiritual. I don’t like people that have money. People that have money took advantage of others to get it.

Many of us have somehow learned to think of money as something bad, and that people that have it are bad. Frequently, it’s a jealousy problem. Get over it. Money was created as an exchange medium to make it easier for people to trade goods and services. Some people who chase wealth lose sight of higher human values like love, compassion, and integrity, but this is not money’s fault. It’s the fault of the untrue beliefs and values associated with it.

Turn it around with this empowering belief: Money can do a lot of good. Money can really help me. I can learn from people that have money.

LIMITING BELIEF #3: I deserve a bigger house, a new car, or TV like our friends and neighbors.

In our culture we are taught that having the newest things is important, and many of us justify going into debt to buy the things we want. The problem is that we don’t distinguish the difference between needs and wants.

Turn it around with this empowering belief: I will only buy things with cash. I absolutely refuse to have credit card debt.

LIMITING BELIEF #4: I’m just not good with money. I don’t have time to work on a budget. I don’t want to learn about money.

The misconception here is that money management is something that either comes naturally to you or not. No one pops out of the womb knowing all about money. But we all have a responsibility to educate ourselves about financial concepts. It’s the society we live in. If we think of our home as a business then it makes sense to have to work to improve our knowledge and performance to manage it properly.

Turn it around with this empowering belief: I am going to learn about money. I will find a way to educate myself by buying a book or going to the web or going to a class. I am optimistic about my financial future because I am putting in the work to educate myself and be successful.

LIMITING BELIEF #5: Money is so hard to get. It’s not fair that other people have so much more money than I do. I don’t want to lose it.

Many of us buy into this scarcity mindset. I see this so much. This is one of the top limiting beliefs. Some people are so concerned about spending or losing money, they are not comfortable investing it. An abundance mindset, which assumes that there is plenty available for everyone, on the other hand, is just as easy to assume, and far more effective in creating wealth and contentment.

Turn it around with this empowering belief: There is plenty of money around me. I have no fear about money.

LIMITING BELIEF #6: My family has never been rich. I don’t deserve to have a lot of money.

The problem with this belief is that it assumes that the past always equals the future, which of course is not the case! Certainly, circumstances beyond your control do have some effect on your life, but you are also an independent individual. It’s so easy to play the blame game and not take responsibility for making changes in your situation. What other people did or did not do has no power over you. You’re in charge of your life and how to improve your financial reality today.

Turn it around with this empowering belief: By learning new ideas, I can create my financial independence. I am determined to make money.

LIMITING BELIEF #7: It’s only money. Money is not that important.

This limiting belief expresses that you don’t treat your money with respect or you are a martyr about being poor. Focus on spending your money wisely. Most of my clients that have money got it by being particularly frugal and saving. They respect every penny.

Turn it around with this empowering belief: Having more money is a priority in my life. I will spend every penny very wisely.

LIMITING BELIEF #8: It’s too hard to get rich. I don’t want to spend my free time making money. You have to do things you don’t like in order to have money.

You certainly can work yourself to the bone and give up many pleasures in the pursuit of money, but it is not necessarily required. Working smarter means understanding how you can create real value for others and then receive a fair price for those goods or services. This is true whether you are an employee, a business owner, or an independent contractor.

Turn it around with this empowering belief: To get wealthy I will provide something of real value for others and ask for a fair price. I am passionate about what I do and believe in its financial value.

LIMITING BELIEF #9: Money is for spending.

This belief comes from not understanding that in order to create financial abundance you actually have to save money. If you spend all the money you earn instead of saving and investing it you will never create the financial abundance.

Replace with this empowering belief: I pay attention to spending less than I earn. I am prudent with my money. The money I don’t spend makes me rich.

LIMITING BELIEF #10: It doesn’t take much effort to manage money effectively.

Managing money actually demands real commitment and attention to detail. It involves looking at all the money facts of your life, your bills, spending habits, and goals with a clear, logical eye.

Turn it around with this empowering belief: I will pay attention to managing my money. I will put in the effort to reap the results I desire.

LIMITING BELIEF #11: No one can be rich AND happy AND healthy. It is an either/or proposition.

You CAN have it all. This is an example of reinforcing a negative belief by observing dysfunction that might be around you or in the newsstands, but sifting out positive examples.

Turn it around with this empowering belief: It is possible to have it all. With money I can be wealthy, be happy, be healthy and be powerful.

LIMITING BELIEF #12: My value is determined by money.

This limiting belief mixes up net worth with self-worth. People who adhere to this false belief suffer significantly because money is the only thing that matters to their self-image.

Turn it around with this empowering belief: Money doesn’t define me. I am rich with experiences.

LIMITING BELIEF #13: I don’t want to talk about money. It stresses me. It’s self-centered to want a lot of money.

Avoidance will never get you to where you want to go. You can use money to help others by reinvesting it in your own business or in the service of others in order to add more value to yours and other people’s lives.

Turn it around with this empowering belief: The money I earn represents a value I created for others. I feel proud of my money because I can use it to make the world a better place.

Repeat the empowering belief to yourself throughout your day. A belief paradigm acts very much like a dream. When you are asleep your dream seems completely real. You believe that what is happening in the dream is actually happening in real life. You might be dreaming that your life is in danger and feel the corresponding emotions of panic and fear. But then you wake up, sit up in your bed and look at the dream from the perspective of an awakened state. You immediately drop the belief that your life is in danger and your fear disappears. With this shift in perspective, the illusion of the dream no longer has power over your thoughts and emotions. It is as simple as this to awaken from our limiting beliefs about money and see the true reality before us.