This will be the first of the three-part series of Bad Money Attitudes: Money Beliefs That Will Make You Poor Forever that we’ll be talking about. Part 2 will come out after this, so make sure that you read all three of these blog posts (or listen to my podcast) and find out which limiting money belief keeps you stuck and let’s find out ways to overcome them.
Because you may be at the risk of being poor for the rest of your life if you keep on believing them.
1. I don’t have money to get started. / I can’t save. Ever.
This excuse is like those one-liners that actually just end the conversation. This mindset makes you paralyzed and incapable to actually grow.
If you think about it, it actually bears the same meaning as “I don’t wanna get rich.”
Because if you truly want it, and you literally don’t have the money yet, then you’re gonna find a way to keep some of it. Or earn more to get to keep some. Here’s where the quote “If there’s a will, there’s a way” gets in.
If you wanna get rich but you don’t have money YET, you’re going to be resourceful.
You’ll find ways to earn more and save more.
Having this money belief may also be a good time for you to review your spending habits. Say “Yes” to the right things, and say “No” to the wrong things.
Do you eat out too much? Why not prepare some of your meals at home instead – it’s much cheaper.
Substitute expensive Frappuccinos with instant coffee. This way you’ll have more funds to save and let your money grow.
Another way for you to be more conscious of your expenses is to quantify your hourly rate (or your average wages in a day/month/week) vs. the things you’ve been having an impulse to spend on.
Is that makeup worth 5 days of your work? Are those shoes worth 15 days of your work – meaning 1 payroll cutoff? Is that VIP concert ticket worth your monthly gross income?
Is any of it worth the time and money you’ve worked hard for?
Want to get out of this paralysis?
Keep an eye on your next salary. Where does each and every cent go?
Can you challenge yourself to set a portion of it aside before dealing with your bills and expenses? Can you challenge yourself to do without the Frappuccinos and the latest lipstick shade for this payday? Can you make your own lunch meal for a while?
My friend, if you always just think of yourself as someone who doesn’t have money, then being poor may just become your destiny until you die.
Speaking of destiny, here’s the Number 2 money belief that will make you poor forever:
2. Saying that “This is our destiny” or “Being poor is our destiny”
If we’ve lived at least 200 years ago, this might’ve been a little true, but in these days when anyone can become anything, destiny, at least in the financial sense, becomes no more than an excuse. Here’s iconic TV mean girl Blair Waldorf has to say about destiny:
I know what you’re thinking.
You may think that Blair actually has the nerve to say this since she’s born rich or #blessed anyway, but if you mindfully watch Gossip Girl, you’ll see that Blair is actually the hard worker type. She hustled for everything she had. A chunk of her actions definitely were not conventionally moral, but it took Blair to plot and scheme to make sure things go her way. She’s driven. She has grit. And that’s what makes her even more charming besides her inborn A++++ fashion and beauty.
So you see where I stand.
Believing in destiny takes out the responsibility to own up to your actions.
It takes out the freedom for you to decide and choose things that are actually better for you – financial or non-financial.
The time for waiting around for things is over. It’s 2018. Make things happen.
You know that meme, “It’s not just a phase, Mom”?
Kids say that because their parents (or, you guessed it, Moms) think that what they’ve decided to do/follow was just based on a whim. But there are actually times when we’re serious and determined even when they don’t think we’re not.
But there’s one thing that I’d like to be just a phase in my life: Poverty.
Are you poor, like me? If Yes, then don’t you want it to be just a phase, too?
While most of us don’t want to be poor forever either, there’s one limiting belief that still keeps holding us down:
3. I came from a poor family
This is heavily connected to the destiny belief before, but this needs a little bit more attention to itself.
A lot of us actually associate our current financial standing to our future financial standing.
For example, “If you came from a poor family then you can never be rich.”
Most of us are still wired to think this way even though many have already proven it wrong. And then we tell ourselves that those who got free from poverty were lucky or had much more resources or skills than us. It’s an endless loop, actually.
If being poor makes you intimidated in getting started on your journey to become rich, then think about the family where you came from.
Don’t you think that they deserve better?
Make them the reason why you want to get rich instead. Think of all the things you could do if you finally earn more money to give back to your parents, if you finally have the means to send your little brothers and sisters to school. You may also plan for your future family – what you want your future kids to experience, what about your childhood that you don’t want them to experience, setting up a fund for what their dream college would be, etc.
Many have their families as their biggest emotional “Why”s. Now, what do I mean from this Emotional Why? These are the reasons behind why we do what we do.
We don’t just work for the sake of working. Or earn for the sake of earning. We do this for ourselves and for the people we want to benefit from it. When we think about them and what we could do for them, getting intimidated by starting to do something different becomes a trivial thing.
Taking Alan Cohen’s words,
“Your history is not your destiny.”
Treat poverty as a challenge. The biggest challenge you could face – like the last big boss at your quest called life. Stop whining, and start asking yourself,
“What is this telling me to do?”
Always know that as long as you’re constantly working with conscious intention of why you’re doing it, with your biggest emotional Whys on your mind, then poverty will be just a phase.
For our first part of the 3-part segment Bad Money Attitudes: Money Beliefs That Will Make You Poor Forever, we’ve learned that constantly telling ourselves that we can’t save money, and believing that we’ll always be poor because it’s our destiny/this is where we came from, are all thoughts that put us at risk of actually staying poor for the rest of our life.
Our journey to become rich won’t start unless we take it into heart that we can become rich.
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Got any thoughts on what other Bad Money Attitudes can make you poor forever?
Leave them on the comments below! Or find out on the next post.
Thanks for your time and see you next post!