Money Blocks - New or Old?
Hi WA fam!
Have you ever heard of money blocks?
They are the subconscious and/or conscious thoughts, feelings, and beliefs about money that have kept us stagnant and stuck in unwanted financial circumstances. Money blocks interfere with our mindset and throw us off the financial path we prefer to ride down.
As the finance guru Suze Orman explained, people came to her expecting to start with looking at their bank accounts and bills, but that was not her first question. She was more interested in understanding their relationship with money before she could actually get into the numbers. Chillpreneur author, Denise Duffield-Thomas has a whole business solely addressing money blocks.
One of the first places to start is to close your eyes and think of the first vivid memory you can recall involving money. For me, it was when I was around 6 or 7 years old, and I really wanted a Ninetendo. It was the one Christmas gift I would ask for each year, and each year we were told it was "too expensive" and "money didn't grow on trees."
I remember feeling really disappointed as many of my friends had it and would talk about it a lot at school. I felt left out since I didn't have one too. Not knowing it over time, I adopted my first few unfavorable money beliefs.
1) Scarcity - Believing there was not enough to go around. Some people will have and some will not. Everyone can't win.
2) Money = Value: The kids that had the right clothes, the video games, and other expensive items were valued more than the ones that did not. If I did not have money or cool video games, I held little value.
3) Money requires struggle. Money doesn't come easy, or everyone would have it. You have to work really hard for a really long time to get it or else you did not "learn" the value of money and/or you didn't "earn" it somehow.
Maybe it can be that way, but it doesn't have to be. I also think it's one of the beliefs that the rich want you to buy into as it benefits them if you think it's too hard to do on your own.
Many people have proved that doesn't have to be the case. Technology and automation have made it even easier. There's Tim Ferris of the 4 hour workweek and many others now to that explain ways to maximize your outcomes without a constant, daily struggle.
I used to be someone who avoided checking my bank account until I absolutely had to and would have emotional meltdowns trying to pay bills. I ran from my money problems for a long time before it finally caught up to me, and I had to look it dead in the face.
I'm learning a ton about the stock market and finance every day now as I work with my father and also work within WA to create a website on investing for beginners. I'm currently getting my credit card balances down, my credit score is improving, and beginning to really reduce my debt...sigh.
If you haven't already, I suggest doing some self-reflection on some of your own possible money blocks (everyone has them, just some have worked on them more than others).
Mindset is extremely important if you plan to be successful online. It doesn't matter how much money you make; neglecting your money blocks can cause stress and chaos in all parts of your life.
Common Money Blocks that may sound familiar:
"Money doesn't grow on trees."
"Money is the root of all evil."
"Money won't buy me happiness."
"People won't like me if I have money."
"I don't care about money. I just want to help people."
If you find yourself repeating anything like that, you might be actually preventing money from entering your wallet without even knowing it. I encourage you to research more of this on your own.
Thanks again,
Sonia
Recent Comments
19
Great post Sonia. Provoking self-reflection. I identify with your early experience, even though in my case that was long before the existence of Nintendo. In my case it was Scalextric. Just basically out of reach. So it was.
Best regards
Andy
I figured other people had moments that really stood out like that too. I'll have to Google, "Scalextric." :)
I had to google it as well for the spelling. It still exists. Don't think I will indulge any unfulfilled childhood desires though - too much scurrying around on the floor, the knees won't take it. I made that mistake getting a Hogwarts Express trainset to go around the Christmas Tree. We live and learn.
Best regards
Andy
Haha, thanks for the share.
I think as long as you are aware of your money blocks, you can be aware of how they are affecting your situation.
-->Then you can work towards changing your perspective to something that falls more in line with your desired outcomes.
Thanks Sonia. And I won't bother trying to put a train set around the Christmas tree anymore - lesson learned.
Best regards
Andy
Absolutely, Sonia.
My day job for 20+ has been as a nonprofit fundraiser, so I work with money, ask for money, deal with wealthy people, etc., all day long.
A common misconception is that there is some static "pie" that we want a "slice" of. (Your point about scarcity.)
We have to break out of that.
We also have to have enough self-esteem, and humility, to realize that we can fearlessly "go for it" and when we succeed, we'll be in a better place to help others.
Thank you kindly for your thoughtful comment, Howard.
I had no awareness of it before I started running into problems with it. I'm very interested in psychology so I started doing some research that I'm very grateful others shared themselves.
Getting more inspired to create another post based on eastern influence that ties together more with psychology and money.
I started viewing money as something that recirculates rather than static view you speak, and it's kind of funny how money started to ominously flow from different directions into my life.
Agreed, the self-worth and self-esteem components need to also be tended to; balance in work/play, ect.
I'd be curious in particular to hear in your post your thoughts about the Eastern idea of no-attachment and money.
In the west, we are very attached to money and things, and while acquisition of those is fine -- that's what we're helping ourselves and our readers are doing online -- when we are attached to them, it causes problems. Detachment can solve that problem, but how to detach is the question.
I do agree with the Eastern idea of money and non-attachment.
I can see it being a lot more difficult for those who don't have the means to survive than those that have it in abundance.
I think it's more about perspective shifting...if you believe that money once it is spent, it is gone then you are potentially blocking the flow of money. You believe it will not come back to you so therefore, you block the flow and reinforce your own predictions.
Even if there are opportunities for it to recirculate, you don't believe it will work. You subconsciously look more at an obstacle to money as a black hole rather than a simple hurdle with many options to get around it.
In contrast, if you view money as something that recirculates and is not "gone," you believe it will come back around to you in one form or another, thus your mindset is more open to receiving money or seeing opportunities for it to recirculate.
Viewing money as something that recirculates rather than something that is static is something that really helped me.
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Nice on, Sonia! Enjoy your weekend!
Jeff
Thanks, Jeffrey!