Money Mindset Tips: 7 Insipid Things that are Killing Your Ability to Attract WealthMay 18, 2022
Frustrated because you aren’t making big money yet? The problem is bigger than you think. Although you think you are doing all of the right things, you have probably overlooked a big one—your mindset. I am going to help you change that through my tried-and-true money mindset tips.
In the words of country music legend, Kenny Rogers:
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
If you want to make more money, you’ve got to learn what the obstacles are, how to overcome them and get out of your own way!
Money Mindset Tip #1: Imposter Syndrome
The #1 thing that is killing your ability to attract wealth: the imposter syndrome.
A phenomenon in which someone believes they are not good enough despite having outstanding academic and/or professional accomplishments.
This is a sad but very real experience that many women have, and unfortunately very common in female entrepreneurs.
It affects everyone, including the rich and famous! Hollywood celebrities, Charlize Theron and Viola Davis have suffered from it. Even American author, poet and civil rights activist Maya Angelou confessed to experiencing it.
If you have had this feeling, you are not alone in it; however, that doesn't mean you should hold onto it. So, let’s kick that mentality and move into a more positive mindset.
Money Making Tip #2: Unworthiness
From feeling like a fraud to feeling unworthy. This is the second biggest reason you aren’t generating wealth.
How do you decide whether you are worthy—to be, do, say or charge something? It is typically assessed by comparing yourself to others, which is a flawed approach because no one else is you!
You are unique and therefore don’t compare to others. No one else has the same skills as you and they aren’t in the same place as you are in your business.
One of the craziest things you can do is measure yourself against someone who has been in business longer than you.
How can you compete with unrealistic expectations?
Simply put—you can’t—and end up thinking you aren’t good enough (see money mindset tip #1).
Money Mindset Tip #3: Perfectionism
Perfectionism—a self-destructive behavior that you need to stop right now!
It is the killer of dreams and damaging to entrepreneurs everywhere. The funny thing is, people actually think it’s a good thing.
If you’ve ever thought to yourself—I need to make this perfect before I put it out there—you are guilty of perfectionism.
This thought process will put a halt to everything, including making money.
When you analyze (and agonize) over your content before it even sees the light of day, you are sending out low vibrations and you know what happens when you stay in the land of low vibrations from my last post.
You hinder your ability to attract wealth. Perfectionism will hold you back every time.
Read more about how perfectionism holds you back and how to avoid other major entrepreneurial mistakes that women are making.
Money Making Tip #4: Procrastination
Oh, procrastination—the I’ll-do-anything-else action before working on my business content. It’s no wonder it hurts my wealth building.
We’ve probably all been guilty of this a time or two. I mean, there are many days where I would rather make treats for my daughter’s class or go pickup the dry cleaning before working on what I should be working on.
Procrastination is one of the main barriers blocking you from making the right decisions and living the dream life you've thought of.
Money Mindset Tip #5: Seeking Validation
Seeking validation is a perfectly normal human instinct. We are naturally social creatures. We thrive in a community; therefore, have a strong desire to belong in that community and seek validation from it.
This can be really gratifying…and addicting. It can easily overpower your own thoughts. You will start to base all of your decisions on what others think.
- “If someone would tell me how awesome I am, I could do this.”
- “I wonder what so-and-so thinks I should do.”
- “Should I be doing what she is doing?”
Do you see how this can become overwhelming?
Constantly asking or wondering what someone else is doing in their business defeats the purpose of running your own business.
Stop seeking validation and start thriving in your own headspace.
Money Making Tip #6: Lack Mentality
Have you ever insulted yourself for the sake of being more relatable to your friends? What about accusing yourself of wrongdoing when you achieve something?
Similar to the Imposter Syndrome (see tip #1), these actions not only indicate there is something going on with your self confidence, but something much deeper. Purposefully bringing yourself down because you believe your gain is someone else’s loss is a phenomenon called lack mentality.
You believe that there isn’t enough in the world (not enough love, success, money, health, happiness). So, if you are in love, have success, money, health and happiness then you must be taking it from someone else.
It is pretty obvious how detrimental this can be to your mental health and your growing business.
This self sabotage, negative emotion not only affects your well-being, but it also prevents you from receiving anything other than that. Negativity generates negativity—it’s a bad place to be.
Money Mindset Tip #7: Scarcity Mentality
When you are hyper-focused on what you are lacking in life and no matter how hard you try, you can’t focus on anything else, you are living in a scarcity mentality.
This is when you obsess about not having enough of something—time, money, clients, etc. When those worries consume you, there isn’t much room left for positive thoughts.
And you know how important positive thoughts are.
A scarcity mentality can take a big toll on your mental (and financial) health.
Read more about the power of positivity here.
Next Steps: Financial Health
Now that you have cleared a mental path to openly receive wealth, it’s time to set the foundation for your future finances.
Have you read my other blog posts on financial health? If you learned something from this one, you don’t want to miss the others in my money and mindset series. Here are a few I think you’ll really enjoy:
Entrepreneur Advice: The #1 Change You Need to Make to Create a Profitable Business
Simple Money Management Tips: 3 Ways to Practice Financial Self Care
How to Make Money as an Entrepreneur: 9 Crucial Steps for Your First 100K Year
How to Attract Abundance: Discover 3 Ways to Shift Your Money Vibration Today