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Money Fears That Keep You Broke

Money Fears That Keep You Broke

Money is such a loaded topic, it’s hairy, scary, and everyone has an opinion on it.

At the end of the day, if you want to bring more money into your life, you have to believe it’s possible for you, release your limiting beliefs with love and live your life knowing there’s so much to go around.

Your fears, ignorance or stuck behavior might stand in the way between you and wealth. You don’t see yourself as afraid of riches — but in reality, you might well be.

Below are few money fears that keep you broke:

  • SCARCITY:

Scarcity, or the belief that you don’t have enough, can induce a kind of all-consuming stress and anxiety that  hampers your ability to focus on and work towards long-term financial goals.

“Scarcity narrows your focus to your immediate lack, to the meeting that’s starting in five minutes or the bills that need to be paid tomorrow.

In other words, when operating under a scarcity mentality your mental bandwidth is so consumed by your immediate needs that long-term plans fall by the wayside.

Note that it’s the mindset of scarcity that results in poor long-term decision-making. So even if you’re not living in actual poverty, daily anxiety surrounding common financial stressors like debt pay off or near-term savings goals, may be contributing to a scarcity mindset that affects your ability to make smart financial decisions.

  • LOSS AVERSION:

Loss aversion refers to our natural tendency to work harder to avoid a loss than we do to enjoy a gain.

It’s why people hate budgeting, because they think about it within context of loss, what they have to cut back, rather than a tool for creating a spending plan built around their core values.

Instead of thinking about financial planning within the context of sacrifice, try building your budget from nothing. Starting from zero and building up, rather than from some hyper-consumer driven vision of the status quo and cutting back.

  • THE MORE MONEY I HAVE, THE LESS OTHERS HAVE:

This is a tough one to crack because it’s so engrained in our brains but the thing is, we need more amazing, smart, kind, loving and compassionate people to have money.

You can think about it like this instead – the more money you have, the more money, help, and resources, you can give to those that need them.

When you refuse to have more money in fear of taking away from others, it’s like refusing to eat because there are people starving, and yeah, there are, and it’s horrible, but not eating isn’t helping to give them more food, anymore than you refusing to make more money in fear of taking it from others is giving them more money.

By having all the money you desire, you have more to give to those organizations that help feed millions.

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