Money Beliefs: A Crowdsourced List
On average, people have 50 - 200 money beliefs! Whoa. Those are some sneaky thoughts and beliefs. And many of them are formed between 7 - 9 years old.
Last week, we gathered 8 Financial Friends and spent 5 minutes coming up with the money beliefs instead of us. Below is a list.
Money beliefs can be negative or positive. They can be helpful (motivating, keeping us safe) or destructive (holding us back, damaging our financial confidence).
Many people hold similar and opposing money beliefs at the same time.
If you have a negative money belief, we recommend you
Name it. Write out the clearest version of your negative money belief.
Rewards & Consequences. Indentify the rewards for overcoming this negative money belief and the consequences if you were to allow this negative money belief to hold you back.
Claim a positive money belief. Find a positive money belief that replaces this negative money belief. Feel free to start small and ladder up to it!
So let’s dive into that list. If you have more to add to this list, send me an email at jenn@thepledgettes.com
Disclaimer: This list is not right or wrong, true or lies. These are the things that are taking space in our head when we were asked to empty it.
You have to work hard to make money.
Money comes and goes.
Men are better with finances.
There’s only one right way to budget.
Money is fun tickets.
Money doesn’t grow on trees.
Money makes the world go round.
Diversify your investments.
Money is time.
Mind over money.
Money needs to be managed.
“Money between friends.”
Compound your money.
It’s important to know about interest rates.
Always save over spend.
Avoid income (or lifestyle) creep.
Once you have money, you will always have money.
Money is not the same as wealth.
You can make money in your sleep.
You cannot live off dividends from stocks.
One must win the lottery to be rich.
Others must have the same money blocks as me.
Loyalty can be expensive.
Know your worth.
Wealth is for others; not for me.
I’m not motivated by money.
Money isn’t real.
Assuming people won’t pay my prices.
I can’t charge high rates for work that comes easily to me.
Investing in real estate is a like contributing to a forced savings account.
Making money is hard.
You need to be an asshole to win at capitalism.
Money is a renewable resource.
More money/wealth will afford me the ability to be more generous.
I am capable of making money.
Money doesn’t equal success.
My rate is not my worth. It’s based on the industry, client, market, and other quantifiable points.
I don’t need money.
Spend less than you make.
Women should make different financial decisions than men. Decisions that are more risk averse.
Women should be thrifty and good budgets.
Men should invest and take more risks.
Men should be good providers for their families.
Money comes to me when I have a purpose for it.
What’s the worst that could happen?
I have a fear of success.
Wealth will turn me into a greedy person.
Money amplifies who I already am.
I need to sacrifice for the greater good.
I will receive an unexpected bill that will bankrupt me.
Rich people are greedy.
Money is stressful.
There is enough for everyone.
I have a enough.
Being successful with ruin my relationships.
Annual financial goals are important.
A job with a 401(k) is the only option for retirement savings.
Young people are not good with money.
Saving money is actually easy if you have a plan.
Credit cards are inherently bad.
Debt is inherently bad.
There’s good debt and bad debt.
There is not enough.
Money is for spending.
I choose freedom and entrepreneurship; sacrificing good, predictable income is the trade off.
You and your partner need to be in total agreement about money. If not, defer to the man.
I have to pay my dues.
You can make great money or have a happy, easy life but not both.
There is never enough money.
Women can’t earn more money than men.
Poverty is a choice.
Poor people just need to work harder.
Only rich people can make money.
Live within your means.
Spending money to have “nice things,” is not a good use of money.
Do NOT loan money to friends or family. It’s too sticky.
You have to be a CPA to be “good” at making money decisions.
Modest is synonymous with poor.
Money is the root of all evil.
Hard work gets paid.
Money talks often result in tension.
I need to earn and deserve the money I have.
10% tipping is it. Isn’t any need to question/adjust practices.
People should set their own compensation.
Money is for survival. Save it!
I’ll never make more money than my husband.
Taking about money and income is inappropriate and rude.
Men know how to negotiate; women don’t.
