Updated October 30th.
If you’re not achieving your desired results or continuously have barriers keeping you from your goals, then you probably have at least one money block. Some money blocks are conscious, and we’re aware of them. For example, women are terrible with numbers, or women are better at accounting than men. However, many blocks are subconscious, meaning we’re not even aware of them.
Today, we’re going to dive into some of the most common money blocks so that you can clear any limiting beliefs and get on track to achieve the financial and life success you desire.
So, let’s dive in.
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Transcript: Wealth Inside and Out® Podcast – “Common Money Blocks that Keep You Stuck”
Hi, my name is Annette Bau (bah oo), your host of the Wealth Inside and Out® Podcast. I’m a Certified Financial Planner™ and founder of The Millionaire Insider®.
For over 30 years, I have been advising and researching the top 1% of millionaires.
I am passionately obsessed with money, mindset, and the intersection of self-worth and net worth and how the two connect and allow us to live fulfilled and wealthy lives on our terms.
From Humble Beginnings
Growing up in the Midwest, I had a dream. I began investing $25 a month 35 years ago, and today, I have a multimillion-dollar net worth.
I teach the tried-and-true principles that only someone with over three decades of experience advising millionaires would know. This podcast is different – it’s about much more than money.
We talk about mindset, success, money blocks, worth barometer, and all aspects of money and topics from practical manifestation, along with real-world how-to and everything in between, with the goal of making your journey easier and more fun.
Think of this as coffee, actually, matcha tea, learning real-world, common sense, money, and life advice from a BFF that you can start applying today. If you want to create a financially free life you love, my friend, you are in the right place.
This is the Wealth Inside and Out® Podcast.
Today, we’re going to cover
Common Money Blocks That Keep You Broke
Now, if you’re not achieving your desired result or you continuously have barriers that are keeping you from your goal of saving, investing, managing your money, or even spending, it’s likely caused by a money block.
Telling somebody who has a hard time budgeting or saving money that they just need to do it is crazy. This means that if you have a block, especially if it’s unconscious or subconscious, it’s difficult to achieve your goal without removing the barrier.
It’s kind of like telling somebody who’s overweight “You need to stop eating so much.” They already know they need to stop eating so much. But until you get to that underlying cause, nothing is going to change.
Master Your Mindset
The first step is to master your mindset.
This begins with your success mindset which is your foundation. The next is your money mindset. Many people want to dive into their money mindset but without a solid foundation, it is difficult if not, impossible.
What you’re going to learn today:
- What a money block is and the most common money mindset blocks that are keeping you stuck
- The impact of negative thoughts and self-talk and how it impacts your money
- Why positive statements and thinking impact how you spend and treat your money
- Behaviors that show up when you have success or money blocks
Common Money Blocks
As we go through the list, please write down ones that resonate with you, like, if you’re like, oh, that’s how I feel, or oh yeah, I actually think that. Don’t judge yourself; don’t beat yourself up. Just write them down. And what you’re going to find is that most people, in fact, I don’t know of any person, regardless of their net worth, that doesn’t have some type of money or success block. So just be aware of it.
This isn’t something that only impacts poor people. This impacts all of us.
What is a Success or Money Block?
They can be thoughts, visions, mindsets, feelings, or beliefs that get in the way of us achieving our desired goals in life or with money. I liken a money or success block to a barrier on the road. If the barrier is large, meaning a huge boulder or a pile of dirt, you can’t get by.
Some barriers are smaller, like a nail, but they can still keep us from our desired destination.
Whether a barrier is small or large, we have to look at them especially if they’re impacting our results or our journey.
So many success and money blocks are created early in life by our parents, teachers, and religious leaders. When we’re told (and continue to hear) that women aren’t good with numbers or that women always overspend or we overspend because of our emotions, those beliefs become ingrained in us, and they become unconscious. Then, they can be difficult to remove.
Ignoring Money Blocks
If you ignore success or money blocks, you won’t achieve your desired goals.
What I encourage you to do is just to acknowledge them and feel them. Notice where you feel them. What part of your body do you feel when you think, “I’m not good with numbers?” Is it in your heart? Is it in your back? Is it on your shoulders? And what I encourage you to do is sit with it.
Now, if it’s really debilitating or it’s almost immobilizing, you may need to hire a qualified therapist to help you through it. But assuming you’re like most of us, you’ve got some conscious and unconscious money blocks. Just being aware of them and sitting in the space of that uncomfortableness will help you.
It is going to help you get clear on it. It will help you slow down so that you can be present and conscious when one surfaces.
As you continue this journey, after listening to this episode, you will become a lot more aware of them. A money block holds you back, and it can keep you from the financial and life success that you want.
It can affect areas of your life, including savings, investing, spending money, inner peace, sleeping, peace of mind, and enjoying your life.
A lot of aspects of your life.
Characteristics you’ll see when a person has a block
- Compulsive saving or compulsive spending.
- Not investing or ignoring it
- An obsession with investing, including watching it 24/7, which is as exhaustive as living broke in retirement. Both of them are like such extremes.
- Spending money, including overspending. We talked about compulsive spending, but just spending money can even be a block, depending on how you spend it.
- Excess donations
- Fear of running out of money
- Hoarding money or things.
There are so many. These are just examples.
How Does It Manifest?
- Lack of inner peace
- Constant anxiety or worrying
- Fear of the future
- Problems sleeping
- Fighting over money
- An obsession or frequent thinking about money, success, or when you don’t do something right.
Examples of common money blocks.
- Wealthy or rich people aren’t honest, happy or ethical
- Saying, “I’m not good with numbers,” or “I don’t do money.” Really? You’re either going to do money now when you have a choice, or you’ll be forced to do it later. I have seen it over and over again. You rarely get out of this life without handling your finances.
- I’m not smart enough. As a result, you discount your ability to successfully handle money.
- The belief that you don’t deserve to be successful, wealthy, or rich.
- Saying or thinking, “I never have enough money.”
- Money won’t bring me happiness. Oh my gosh, as if poverty will. Money is not intended to bring you an emotion. Money is a byproduct. It is a means to an end.
- I never have success with “blank.”
- I don’t have time to deal with the money stuff.
- I’m not good with math or numbers. As a result, you start believing it.
- Money is the root of all evil.
- Money is dirty or not spiritual so you repel it.
- I am not good at business or don’t have what it takes to be a successful business owner. As a result, you give up.
How Common Money Blocks Develop
A lot of them come from faith, right? Which is crazy.
And what’s fascinating. So, I took religion in college, and it was fascinating to learn when all of these crazy beliefs about money and that you can’t be spiritual and have money came about. It wasn’t like that until people started being able to manifest, and the people in charge were afraid that the masses would take over.
That’s when fear and guilt and all that indoctrination came into play. So just be aware of it. I thought it was fascinating.
Additional beliefs that keep us stuck.
If you’re a good person, you don’t need money. It’s as if money’s bad and good people don’t need it.
I’m not smart enough to create income streams or passive income. I mean, that’s the most fascinating one I’ve ever heard. Like what? Oh, now you have to be smart to be able to create them. I don’t know about that.
Money doesn’t grow on trees. It does, but this belief stems from the belief that there isn’t enough money to go around and that we have to fight or steal to get our slice.
I don’t deserve wealth. And that is a complete worth barometer issue.
Removing Money Blocks
1. Review the list of common money blocks.
2. Create a list of any of the blocks that impact you.
3. Prioritize the most pressing blocks so you can work to remove them.
4. As you go through the next week, I want you to add blocks that surface to the list. You’re going to find ones that surface. For example, you see somebody driving an expensive car, and you think, “I bet he got it illegally.” Like, where did that come from? Or “money is dirty,” or things along those lines.
Don’t judge it. Just write it down and become aware of it. The first step is to identify which ones affect you.
And the reason we’re going through this exercise in this order is because you have to first become conscious of them. And some of them are a little more deep-rooted.
Recap – “Common Money Blocks”
1. Understand what a money block is. Some are conscious, like “I’m bad with numbers,” and some are unconscious, like “wealthy people are dishonest.”
2. Determine obvious money blocks that are impacting you. Some of those will stand out from the list, and others won’t.
3. Pay attention to the money blocks that surface and how you react to them. What are you triggered by?
This is going to help you identify what external factors impact how you show up and, ultimately, what you need to release. But you have to, first, get really clear on what they are. You can’t start releasing them until you know what they are.
So take the time to do the exercise.
Until our next episode, take one action that will help you create a secure financial future and retirement you love.
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Thank you so much for joining me for
“Common Money Blocks that Keep You Broke.”
I’m Annette Bau (Bah oo).
All international copyrights are reserved.
Bye for now.
