The 4 Most Common Money Blocks & How to Overcome Them

12 Mar

What Is A Money Block?

I always like to start by making sure we all know what we are talking about so a good question to ask is “what is a money block”?

I’ll agree it sounds a bit ‘woo saaa’ (you know, a bit fluffy) but I can tell you from experience that it’s a real thing!

Money blocks: negative subconscious beliefs about money that limit you from achieving your conscious desires.

Stick with me, it will get more clear as we move along!

Maybe the following statements will help a little:

Let’s say you’re trying to save money but, for whatever reason, you can’t seem to do it. OR

You spend money almost as soon as you get it, and you don’t know why. OR

You want to stick to a budget, save more money, and get control of your finances.

But however hard you try, you just can’t. So what’s the problem?

I’d say (and so would Dave Ramsay one of my favourite money guru’s) that there are two possibilities:

1. You’re just missing the tools or knowledge to improve your situation.

2. You have money blocks.

Money is 80% behavior, 20% knowledge.

Dave Ramsay

Behaviour is what you do – and today we’re working on the WHY you do it, once you know why you can get to the knowledge part so you can fix it.

My Money Block Story

Let me tell you about me! I’ve worked in Finance my whole career. I understand it – I have the knowledge! 80% of the way there – but I still ended up in a pretty awful place despite all that knowledge.

Why? Because I had money blocks.

Why? Because money burned a hole in my pocket – as soon as I have it I spend it. And worse, I want to give everyone, everything they want.

Why? Because I was poor when I was a kid.

My whole childhood was literally about money – or rather lack of it. I suffered, I couldn’t have things other kids had – including fruit, or pocket money or excursions or a paddle pop for 20c from the school canteen.

It was SHIT.

BUT I HAD NEVER ACKNOWLEDGED IT. I’D NEVER DONE THE WORK. I’D NEVER SAID TO THAT LITTLE GIRL – THAT WAS REALLY SHIT AND I’M SORRY THAT HAPPENED TO YOU.

Makes sense now though (now that I’ve done the work to be able to understand the block) – I had nothing and so now I want everything and I want everyone else to have everything immediately – I don’t want to be told NO and I don’t want to say NO!!!

Once I understood this I was able to change both sub-consciously through journalling and consciously through taking practical actions to get my finances in order.

Boom!!!

So here’s the question – what might your money block be that is stopping you from getting to the next level?

Let’s jump in.

The 4 Most Common Blocks & How To Overcome Them…

Doing the work to uncover your limiting beliefs is so important.

Money Block #1. Believing You Don’t Deserve Money

If you grew up believing that money was something that happened to other people, and it was continually reinforced by messages you received from your parents (e.g. WE certainly can’t afford to do things like them and we don’t need money or PEOPLE like us don’t get rich) you might think you’re not good enough to get rich.

You need to remove the idea from your mind that you aren’t deserving of money and that it is somehow a distasteful thing that you don’t need or deserve.

What to do: Acknowledge that this was what you used to think and that this thought no longer serves you. While we can’t change these beliefs we can certainly acknowledge that they are there and that they are no long true!

Money Block #2. Negative/Scared Thoughts About Money

Being comfortable or even wealthy is a goal for many of us, but when we struggle it leads to negative thoughts about money and a feeling of scarcity.

These negative, scared feelings can really block money coming to you.

Money Block #3. Being overly generous

Generosity is good but not to the point where you are impacting your own circumstances because of it.

To be abundant you need to give and receive.

What to do: In addition to the recommendations for the first 2 money blocks – also be conscious of opportunities to be over-generous – for example, always paying for things for other people such as coffees, meals, etc. Or giving products and services away for free or heavily discounted where you aren’t making a profit or even covering your costs. Make conscious decisions about this instead of defaulting to ‘overly generous’.

Money Block #4. Fear Of Success

Finally, your subconscious mind may actually be terrified of getting what it wants!

It could be that you are scared of change, scared to try or you are scared that you may see some success but won’t be able to sustain it!

These fears are almost certainly holding you back.

What to do: Every day in your journaling practice, take some time to think about what your fears are. For me, I often have a fear of time – that I won’t have enough time to give to my business. Whatever it is that you are scared of, acknowledge it – then make a positive choice to set it aside.

What other actions can you take?

If you identify with the statements at the start:

You can’t save
You spend money almost as soon as you get it, and you don’t know why.
You want to stick to a budget, save more money, and get control of your finances.

I highly recommend that you get give me a call – working together we will identify what is holding you back.

Then once you have acknowledged the blocks we can work together on a plan to get your finances under control – feel free to reach out to me to book a free 30 minute chat or ju mp here to see more about working with me if you need some help with this.

Love to hear your thoughts and experience in the comments!!

Annette Rose