Ever Feel Stuck? 3 Limiting Beliefs Crushing Your Financial Dreams

Ever feel like no matter how hard you work, success just doesn’t seem to come your way? Maybe you think that investing is only for the wealthy or you’re working tirelessly without seeing the results. If you’ve ever thought this way, then it’s time for a reality check. Your beliefs could be the very thing that’s holding you back from reaching the financial success you aspire to.

In today’s blog, we’re going to explore three powerful beliefs that may secretly be limiting your financial success. For a more in-depth look at these limiting beliefs and how to overcome them, check out this video I put together.

https://www.youtube.com/watch?v=xwYPwPIQQa8

But before we dive in, don’t forget to share this blog with your friends and subscribe for more insightful financial tips to help you achieve your financial goals.

Now, let’s get started with these limiting beliefs and how to break free from them.

Limiting Belief #1: “It’s Impossible to Save and Invest”

One of the most common limiting beliefs I encounter in my workshops comes from people who feel that their income is simply too small to start saving or investing. I remember a recent session where a man, a driver by profession, told me, “Madam, I’m just a driver. My income is very small, and I have a family. How do you expect me to save even a bit of the little money I make to start investing?”

He truly believed that it was impossible to save anything from his modest income. Is this belief holding you back too? Do you think it’s impossible to set aside even a small portion of your income to build wealth? If so, you’re not alone—but this is a limiting factor that can keep you stuck.

How to Overcome It: The “Pay Yourself First” Principle

Let’s look at a piece of wisdom from The Richest Man in Babylon, a must-read for anyone looking to build wealth. The book says:

“The road to wealth was found when I decided that a part of what I earn was mine to keep. It should not be less than a tenth. No matter how little you earn, it can be as much more as you can afford. Pay yourself first.”

This timeless principle teaches us that no matter your income, you can set aside a portion of it to invest. Even if it’s just 10%, this money will grow over time and will work for you. Start by paying yourself first—automatically saving a portion of your income before paying any bills or expenses. This is the key to building wealth.

Limiting Belief #2: “Hard Work Doesn’t Pay”

This belief can be incredibly sneaky because it often prevents you from taking action. You might be working long hours, making sacrifices, and pushing yourself to the limit, yet feel like you’re not seeing any results. So you might conclude that “hard work doesn’t pay.”

If you’ve ever thought this way, you’re not alone. But here’s the truth: Hard work alone is not enough. In fact, smart work pays much more. It’s not just about how hard you work; it’s about how effectively you use your time and resources.

How to Overcome It: Work Smarter with a Financial Plan

To achieve financial success, you need a strategy—a blueprint for how to manage your money. This is where my PATH framework comes in: Plan, Act, Track, and Harvest.

• P for Plan: Before you dive into your financial journey, take time to evaluate where you are. What’s your income? What are your expenses? How much can you save? Budgeting is key here.
• A for Act: Once you have a plan, take action. Whether it’s increasing your income, reducing your spending, or starting to invest, taking the right steps will set you on the right path.
• T for Track: Don’t just set your plan and forget it. Regularly track your progress to ensure you’re on course to meet your goals. Adjust your strategy as necessary.
• H for Harvest: At some point, you’ll need to assess when to “cash in” on your investments and enjoy the rewards of your hard work. But remember to reinvest profits to continue building wealth.

By following the PATH framework, you’ll turn hard work into smart work, which ultimately leads to financial success.

Limiting Belief #3: “You Need Money to Make Money”

Perhaps the most common limiting belief I hear is: “You need money to make money.” If you’re starting a business or considering investing, you might wonder, “Where am I going to get the money from?” The reality is that you don’t need money to make money. What you need is a valuable skill that people are willing to pay for.

Think about it: Many successful people started with little or nothing. What they had was determination, a strong belief in themselves, and a skill that others valued.

How to Overcome It: Invest in Your Skills

Instead of worrying about where to get the money, ask yourself: What skills can I develop that others will pay for? Money flows to value. If you acquire a valuable skill, opportunities to make money will follow. Focus on learning and growing, and the money will come.

Conclusion: Dismantle Your Limiting Beliefs and Start Today

The three limiting beliefs we’ve discussed today—“It’s impossible to save,” “Hard work doesn’t pay,” and “You need money to make money”—are just a few mental barriers that can prevent you from reaching your financial goals. But the good news is that these beliefs can be overcome!

Start by believing that it’s possible to save and invest, even on a small income. Work smarter, not harder, by following a financial plan like the PATH framework. And invest in yourself by acquiring valuable skills that can help you make money.

You don’t have to wait for the perfect moment to start. The key is to take action today. Break free from these limiting beliefs and begin your financial journey with confidence.

Don’t let your beliefs limit your potential. Start building your wealth today!