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5 beliefs that keep you broke

Don't let these derail you from achieving financial freedom.
By Katherine Keller |


The subject of money is a big topic for a lot of people.  Thoughts of “How am I going to pay my mortgage?” “Will I ever get out of debt?” “Will I ever be able to retire?” stream through our mind.


As we ponder, worry, or even stress about money, we use up a lot of bandwidth for our brains. Therefore, we have less energy to go towards creativity, peace, joy, happiness, the ability to solve problems, or feel that we have any control over our lives. 



Getting your financial mindset in order is not just about buying a new car or paying off debt. For many people it is about their physical health and the amount of stress that poor money mindsets bring into their life. Today I want to share with you five mindsets you may be holding on to that are holding you back from your financial freedom.


Related: The 4 pillars of prosperity all entrepreneurs should attend to



1. “Someone else will/should take care of this for me.” 

Stop waiting for Prince Charming, your parents, your employer, your husband/wife, or your friends to come bail you out. Your financial future is your responsibility.


When you place your financial responsibility on someone else, you are just buying your time, paying minimum amounts on credit cards, not planning for your future.  The longer you sit and wait for that magical person to start taking care of your finances, the further and further behind you are going to get.  When is the BEST time to take responsibility for your finances?….Right now.




2. “I’m not good with money.”

Join the club. There are many of us who were released out into the world with little to no knowledge of how to handle money, budget, and plan for our financial futures. You probably were not good at walking when you took your first steps. Mostly likely you were not good at driving the first time to sit behind the wheel. But that is why we have to have patience, teachers, and practice.


Financial management is not a talent that any of us were born with. Luckily for us, there are millions of financial books, podcasts, radio shows, online training programs, consultants, counselors, and trainers. It may never become your favorite thing in the world to do, but "I’m not good with money," is no longer a valid excuse for poor financial management. 


Related: Going from 'least likely to succeed' and charting a path to prosperity




3. “Money is greedy or non-spiritual.” 

The only way to make money is by giving value. It does not matter if you are the CEO of your own company or a widget maker in a factory. You are giving value (products/services) to this world in exchange for value (money). The more value you give, the more value you receive. There is nothing more spiritual than cultivating your unique gifts and talents and adding value to this world.



4. “I’m not __ enough.”

I am not smart enough, educated enough, old/young enough.  Fill in the blank with your own word of choice.  The truth is, no matter what excuse you want to place in the blank, we can probably find someone who has overcome that obstacle to achieve financial success. 


Just remember that no one will value you more than you value yourself.  There is no budget big enough to help you become successful if you do not believe you are worthy of success. The inner voice that says, "I'm not __ enough" is only going to keep you in a life of mediocrity.




5. "Fear money, don't make money."

Making decisions based on fear of loss or failure never leads toward prosperity. In fact, usually fear-based decision-making will steal your happiness or joy of success.


Have you ever been more worried about losing $10 than earning $100?  If so your business decisions are fear-based, not prosperity driven. There is a different mindset between those who make financial decisions to 'move away from fear' vs those who make financial decisions to 'move towards prosperity.' Fear-based decisions will keep you in poverty.


Related: How to build an enduring business during a time when businesses don't endure


Can you think of any other mindsets that financially hold people back?  What tips/suggestions do you have for overcoming some of the obstacles people experience with their money mindset?



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This article originally appeared on Minor edits have been done by the editors.



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