Are you Broke? Most likely it has to do with some all too common money mistakes you might be making!
Just the word broke alone implies something is broken…like your bank account, your cash flow, your mindset.
As a money mindset coach I see a lot of the same mistakes come across in my sessions but how each person deals with those mistakes depends largely on their belief system. Let’s delve into the 7 mistakes I see frequently when it comes to cash and wealth and how you can stop making them.
Wealth is a blessing. The more we have, the more we can bless others. Good people do good things with abundance. So stop playing the payday to payday game and let’s get some cash flowing your way! Today, we will cover some of the most common money mistakes you might be making!
The 6 Biggest Money Mistakes (to Avoid)
Hands down the biggest money mistake I see all people making is not truly believing they are worth that which they desire.
People don’t want money just for the sake of money. It’s green paper with dead people’s faces on it. In and of itself, worthless.
It’s what money can do for us that we desire and many people struggle with thinking it’s okay to have the things…and more importantly, the experiences that an abundance of money will bring. Television, media, and even our own circle of friends and family have spent decades drilling false beliefs around money into our heads because THEY BELIEVED THESE THINGS TO BE TRUE.
Sadly, most of them still believe these things. It’s why songs associate rich with being a b*tch. Movies show the wealthy as being greedy or unethical. Even churches can distort money. Some want you to be generous with tithing but how dare you have an abundance for yourself.
I’m a Christian. God puts your desires on your heart for a reason. It’s not wrong to pursue things so long as you don’t worship things. It’s not wrong to have money for travel so you can make more memories with your family. Any desire you have around money should uplift and inspire.
So long as you are not using money for evil, greedy things, there is nothing wrong with abundance. The bible talks about abundance in many passages. (I won’t go into this further but if you are interested feel free to email me more about this subject or DM me on Instagram @Deannasuccesscoach)
1. Money Mistake: Your Intentions With Money Matter
I repeat. Your Intentions Matter! Most money mistakes start with our money intentions.
- How you spend money
- Assessing needs vs wants
- What you do when you get paid
- Short term vs long term decisions with money
Some people come into my coaching program with an incredibly vague description of why they want more money.
“I just don’t want to be broke anymore. I’m tired of struggling and living paycheck to paycheck. I just want to have extra in my accounts.”
Not nearly descriptive enough. So we work on it. Money likes specificity. When you get really detailed on why it is you desire the funds and for exactly what as well as how having such things or experiences will make you feel, it gets incredibly easy to manifest more funds.
Emotions and energy play a huge part in your ability to earn and attract money into your life.
It’s why you see some people working their fingers to the bone and yet they remain on the struggle bus and other people make their businesses look so easy breezy while raking in fully sold-out programs, massive sales, residual income flows, and their dreams start coming true in record time.
2. Money Mistake: You Cling to Your Money
Clinging to your money is a common money mistake that falls in line with the intentions.
You can’t hoard money or cling to it and expect to ever be wealthy. You might get rich and miserable but you won’t get wealthy.
Money, just like any relationship does not like clingy, needy, desperate energy.
You have to allow money to flow in and out of your life. This means earning and spending with the right intentions.
God’s ultimate purpose for all of us is love. So it’s pretty important that we serve others in loving ways. If we only ever use our money for material objects that help ourselves and ourselves only, well icky.
Not that you can’t say yes to yourself more often, but let’s compare buying a $1600 channel bag to say, taking a group of our friends on a sunset catamaran cruise.
Which one do you think is going to create better memories and love? You might love the purse for a week or two but no one else is going to give two cents about your luxury sack.
The cruise benefits you, and the five friends you took along. When you made that purchase you invested in memories for not one person, but six. And the laughter, the sights, the food and drinks, the stories will ripple for a long time. Your friends will not likely forget the time you took them on a sunset cruise while your fancy purse started collecting dust next to your shoes.
3. Money Mistake: You Are Best Friends With Your Ego
Too many people mistake their ego for their intuition. They are NOT the same.
Here’s a few examples of your ego talking:
“So you want to invest in coaching? Well if you do that you won’t have money to pay for your car repairs next month and you’ll probably fail anyway so you definitely shouldn’t do that.”
“You want to go on a date with that guy. Only if the universe shows you a ladybug on your windowsill in the next 15 minutes. Then you’ll have your sign that you should go but if the angel number 111 shows up anywhere you should avoid him because he’s a cheater“
“You think you should start a business? Hah! Remember that time you joined that MLM and fell flat on your face investing all kinds of time and money but making hardly any money“
“Oh, you want to try to introduce yourself to that woman. She definitely won’t like you and will probably call all of her friends and tell them how lame you are.“
Your ego is ALWAYS trying to sabotage you.
It’s the inner critic that scolds you every time you even attempt to leave the comfort zone it’s created for you. You could be sitting on the couch, on fire, and the ego would offer you popcorn and soda while pouring lighter fluid on your dreams.
Your intuition will cheer you one. Don’t get me wrong. Sometimes your intuition will save your bacon by warning you not to get on this bus, take that route home, etc. That gut instinct stuff is your intuition saving you. A personal finance expert, Josh Hastings at Money Life Wax put it this way;
“When you let your ego in, you are closing your mind. A key to figuring out your money and not making money mistakes is an open mind.”
But usually, your intuition is the cheerleader telling you to take a chance. The intuition is the one that got you googling how to make more because it knows you deserve more. It got you talking to people you normally wouldn’t because it knows you deserve to connect. It inspires you to look into your desires further and presents opportunities for the picking.
The ego will try its hardest to sabotage the intuition EVERY TIME. Learn to recognize when your ego is driving and hit the ejection seat.
4. Money Mistake: You’re On Financial Replay
So you’ve read books, articles, and blogs about making more money. You’ve dabbled in a few things which the ego likely sabotaged. You have googled all the things and had many late nights looking for answers you just can’t seem to find.
This can happen in all areas of your life but since this article is about money we’ll keep this relevant.
If more money is what you seek… what have you done about it? Likely a lot of the same things over and over, or nothing (ego again). Or maybe you’ve done a lot of different things but shown up with the same emotional baggage and doubts every time. Repeating the same money habits most likely means repeating the same money mistakes!
The issue with so many of the advice columns and books out there is they inspire, but leave you to do all the heavy lifting alone.
From 19-25 I tried to fix my money mindset and money troubles all by my lonesome. My ego convinced me I didn’t need anyone’s help. And while I had the answers inside of me, I had no clue how to find them. A good coach will be one of the better investments you will ever make in your life. They are trained to help you see things you can’t see by yourself and to help outline the solution for you.
I help my clients by helping them go through their money beliefs and stories. I meet them where they are, listen, and I customize a strategy based on their personality and former habits. We create real sustainable change so they can finally try something that will get them RESULTS.
If you’ve been on a rollercoaster or a hamster wheel for about as long as you can handle, GET HELP. Not self-guided help. Real genuine 1:1 help. (I like group programs for some things but money isn’t one of them. People struggle to be open and honest in the way they need to be when in a group program. The shame and guilt around money failure is very real and very debilitating)
You can learn more about working with me here. Or if you’re already familiar with what I do, you can fill out an application for my waitlist here!
If you are not sure if you are a good fit for money/success coaching or not, here is an article to help you decide!
5. Money Mistake: You Let Your Past Control Your Future
The past is the past. Learn from it and FORGIVE YOURSELF!
We’ve all made financial decisions we regret. But hanging on to these and continually punishing ourselves or reminding ourselves of “that time I really screwed up” does you NO favors.
If you want to make more money in less time, it is CRITICAL that you forgive yourself for your past financial mistakes and allow yourself to move forward.
PERSONAL EXAMPLES: I have built financial independence twice in the past and because of my mindset skeletons that I had not yet dealt with. I lost it both times and had to start over.
Or the time I invested $10k into a private coach who had zero clue how to help me (or anyone for that matter). I had to shake it off and invested another $4.5k later that year into a different coach…and trust me, it was a struggle to come up with those funds after losing $10k . But I hit reset and made the investment in myself. (you are not investing in a coach, you are investing in you!)
Most people would go into a tailspin about the $10k they lost and justify ALL the reasons they should not or possibly cannot invest again. You have to think differently than that if you want true success.
6. Money Mistake: You Are Stuck In Victim Mentality
We cannot control what happens in our lives, and trying will drive you crazy. But you can master how you experience these events. Yes, you can program yourself to react differently to events that would normally push your emotional triggers.
People will get sick, get fired, get divorced, and even pass away. Unfortunate things happen to all people.
But some people CHOOSE to stay rooted in the negativity of the experience instead of learning something from it, forgiving it, and moving on.
These sucky things are real and I don’t expect people to walk around in denial. But how you choose to let them shape your life is up to you. Will you let the circumstance tear you down and steal your joy indefinitely or will you use the experience to enlighten and empower you?
How do you know if you’re in victim mode?
- Repeatedly bringing up only negative things about the past.
- Jealousy
- Repeatedly talking about what didn’t work, doesn’t work, or won’t work…especially for you.
- Easily upset or expect the worst on a regular basis. “If you didn’t have bad luck you wouldn’t have any mentality.“
- You think that some things just are or can’t be changed or altered no matter what you do.
- You always expect the other shoe to drop (this was my Achilles for a long time)
Final Word: You Choose Your Money Story
Ultimately, you will live whatever money story and beliefs you keep locked away in your head. The money mistakes you have made in the past are no more, you will now choose your future!
Learning new ones is a journey but it’s certainly doable with the right help.
You deserve your desires. You deserve more cash. We are all worthy simply because we are no matter how many mistakes we’ve made. If you’re looking to change your money story, your money beliefs, and ultimately the results you get with finances in your life, click here.
xoxo-Deanna