Welcome back. Currently we’re working our way through 11 Simple Wealth Steps. We’ve looked at identifying your current financial position, setting up a spending plan and setting goals.
Step 4, is to Identify and Dump Your Limiting Beliefs About Money.
I can certainly vouch for this one as I have had to deal with limiting beliefs that were holding me back on a number of occasions (and I expect I will have more to deal with in the future).
It is likely that you won’t even be aware that you have these limiting beliefs until you set a goal that is bigger than where you are at and then start working towards achieving that goal.
You take action to achieve the goal but it seems that no matter how hard you work towards it, that goal keeps evading you. Eventually, unless you give up, you find there is some limiting belief that is holding you back.
This might sound crazy so I’ll give you an example.
In my early 20’s I joined Amway and attempted to start a business selling home cleaning products. However I never achieved that goal because every time I delivered a product to a friend and it came time to do the money part of the transaction I would get all embarrassed about making a profit so I would drop the price down so I was not making a profit. I was a great friend but a hopeless businessman!
I never even realised there was baggage that I needed to deal with at the time; I just thought I didn’t like making a profit off my friends so I gave up on the Amway business idea and tried something else!
However, that issue kept coming up for me in every enterprise I had a go at and it was only when I accepted that there was baggage holding me back and I sat down and identified the issue and worked out what to do about it that I could break the cycle.
Here’s a more generic example you may identify with;
You decide you want to become wealthy so you start working at achieving that goal. However, deep in your subconscious mind there are the words, ‘filthy rich’ and there are recollections of movie stars and sporting heroes with lots of money and broken marriages and then there are other people you have heard about who turned away from their friends when they hit the big time. You recall that it says in the Bible that it is easier for a rich man to pass through the eye of a needle than it is for him to get to Heaven.
With all that baggage running around in your head you may very well be taking action that, on the surface looks like it should take you towards your goal of becoming wealthy but strangely, every time you get close something goes wrong and the wealth just passes you by, yet again.
Until you accept that there is baggage to be dealt with and then take steps to identify what it is, you will just keep going round in circles. A good definition for ‘Baggage’ would be ‘beliefs that cause you to think and then act in a way that does not help your cause’.
In my Simple Wealth Steps course we look at how to identify these beliefs and then how to deal with them so they no longer hold you back.
Regardless of how you go about it, if you want to achieve more, sooner or later you will have to identify your limiting beliefs and then come up with a strategy to work around them and then eventually break them.
As an exercise, see if you can list one limiting belief you have right now and then start working on a technique to short circuit that belief.
Have a look at https://simplybudgets.com.au/simple-wealth-steps/ to find out more. This is a 12 month program but you are not locked in to any contract. You stay only as long as you feel you are getting good value. I expect that would be 12 months but it is totally up to you. If I don’t deliver good value I won’t stay in business!
That’s all for today. Have a goody!