No one will value you more than you value yourself” – Marie Forleo
Have you ever dreaded opening up your credit card statement?
I remember a point in my life when I felt that way.
I had an unhealthy amount of debt and had no idea what I had to show for it! I was young and had amassed debt from student loans, traveling and frivolous things that had no wealth or revenue building potential.
I was a conspicuous consumer who bought things that I thought would make me happier. I also thought that because I was making more than the minimum payment ever month that I had control over the situation.
I was holding limited money beliefs that I allowed to guide my financial decisions. I decided after my studies abroad that I needed to get my” money right” if I ever wanted to TRULY feel financial free and start building wealth.
Getting my “money right” was not without sacrifice. I maintained a STRICT budget that allowed me a limited amount of free spending cash weekly. I budgeted for food, weekly expenses and everything in between. I had a partner that held me accountable and in check when it came to my spending habits.
But within 1½ year, I had paid off all my credit card debt and over 75% of my student loans. I had savings, investments and could explore my business possibilities.
We all have limiting money beliefs that has allowed us to justify carrying bad debt:
“I don’t want to give up the way I live. I have expensive taste. ”
“My parents were never good with money and debt so it’s hereditary”
“I can do that later, when I’ve settled down! YOLO”
All these excuses, if it has allowed you to build bad debt, have limited your opportunities. It has limited your possibilities.
In order to live a lifestyle or support a business that goes beyond what you can afford, you need to find the means to make it happen. Find a way to change your current circumstances and allow more of the value added things you want to do with your money be apart of your life. Figure out what it will take to get you were you want to be? How many products or services would you need to sell? How many extra hours would you have to work? And then ask yourself “is what I want worth all this energy?”
Here are a few articles and a video to help you think about your money mindset:
- Are Biases and Beliefs Keeping You From Getting Rich? By Daily Worth
- 9 Beliefs About Money That Can Hold You Back by Learnvest
- Nine Beliefs About Money That Are Making You Broke by Huffington Post
- Video: 4 Money Beliefs that keep you broke by MarieTV
What beliefs are stopping you from making your business, career and life goals happen? What do you want to change.
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