Money blocks are a reality that many of us have encountered at some point in our lives.
It’s that feeling of being stuck, unable to break free from financial struggles.
But here’s the thing: to stop being broke, it’s not only about changing your financial habits. It’s about changing your entire money mindset.
Money blocks can have a huge impact on our lives, and many of us have no idea they even exist!
That’s why it’s crucial to understand what money blocks are and how to overcome them.
In this post, we’re going to learn what are money blocks, how money blocks are created, how to know if you have them, and most importantly, how to overcome money blocks.
So, if you’re ready to change your money mindset and step into financial abundance, just keep reading.
Here’s all you need to know about money blocks.
What Are Money Blocks? 11 Money Blocks and How to Overcome Them
What are money blocks?
You might be wondering, what are money blocks?
The term ‘money blocks’ has been around since the early 2000’s, and it refers to beliefs we hold about money that can affect our ability to become prosperous.
A money block, also known as an ‘abundance block,’ is a set of thoughts, beliefs, or emotions that stand in the way of your financial success.
These blocks can prevent you from getting out of debt, saving money, increasing your income, or achieving the lifestyle you desire.
The concept of money blocks encompasses the negative beliefs and emotions we harbor about money, that act as barriers to our financial success. These deeply ingrained perceptions often arise from past experiences, cultural influences, or our upbringing.
Subconscious money blocks manifest as hidden limiting beliefs, such as ‘money is the root of all evil.’
These unhelpful beliefs permeate all aspects of our lives, regardless of our income level or financial situation, and can lead to self-defeating behaviors like impulsive spending, procrastination, or deliberately avoiding managing finances.
It is vital to acknowledge and confront our subconscious money blocks in order to break free from them and accomplish our financial aspirations.
While overcoming money blocks can be daunting, it is a crucial step toward attaining financial freedom.
By recognising and addressing these limiting beliefs, we can cultivate a healthier mindset towards money and unlock our true potential for financial success.
Money mindset – Scarcity vs. abundance
When it comes to your money blocks, it all boils down to your money mindset, and there are two main mindsets that people tend to have: the scarcity mindset and the abundance mindset.
The abundance mindset
People with an abundance mindset believe that there’s always enough money to go around.
They believe in being grateful for what you have, and looking forward to what’s to come.
People with this mindset enjoy a level of comfort and confidence in their financial situation. They are open to learning new skills and strategies to increase their wealth in the long run, because they feel like the possibilities are endless.
The scarcity mindset
On the flip side, we have the scarcity mindset.
This mindset is all about believing that there’s never enough.
Never enough time, money, work – you name it.
It’s a mindset that often comes with a fear of spending, or conversely, spending everything and getting into debt because you think, ‘Hey, when it’s gone, it’s gone,’ or ‘You can’t take it with you!’
But here’s the thing – this scarcity mindset can make us feel trapped, frustrated, and stuck.
It’s like we’re living in a box, unable to see beyond what we currently have.
How are money blocks created?
Our childhood experiences shape the beliefs we carry into adulthood.
As young and impressionable minds, we absorb the words and actions of those we trust as absolute truths. By the time we reach adulthood, these beliefs become deeply ingrained in our subconscious and drive our decision-making in various aspects of life.
This is particularly true when it comes to relationships, religion, education, and money.
Unfortunately, not all the influences we encounter during childhood are positive. Some of the things we were told instill unhealthy notions about money, preventing us from living our best lives.
Whether we grew up in a financially abundant family or constantly struggled to make ends meet, our money blocks begin to form at a young age. The messages we internalise as children can inadvertently lead us down unfulfilling paths in adulthood.
What makes this challenging is that often we aren’t even aware that our actions align with these negative beliefs.
For instance, if our parents frequently argued about money, we may experience anxiety when discussing finances with our partner. Or, if we grew up in a financially disadvantaged family but attended school in an affluent neighborhood, we might subconsciously believe that we don’t deserve financial security.
As children, we have no control over the messages we receive, as we cannot choose our parents, teachers, or the environment we grow up in. That’s why it becomes crucial to challenge our core beliefs as adults in order to reframe any limiting beliefs that we may have picked up along the way.
Let’s dive into 11 common money blocks and explore how to overcome them.
What are money blocks? 11 common money blocks you may be experiencing
1. Limiting beliefs
Have you ever caught yourself thinking things like ‘I’ll never be able to save that much money,’ or ‘I’m just not that good with money,’?
These are classic examples of limiting beliefs that may have been ingrained in us since childhood.
The harsh truth is that attributing your money struggles solely to your personality is a convenient excuse that allows you to avoid really doing the work. It is not a valid argument for perpetuating poor money habits.
Anyone can acquire the skills of budgeting and saving money if they commit themselves to it.
While it may be more difficult for some people, it is by no means impossible, and by telling ourselves ‘I can never save money,‘ we’re not taking accountability.
Other limiting beliefs around money are:
- ‘It’s out of my control’ – We are all responsible for our financial situations, and by shifting the blame towards our circumstances, our employer, or the government, we absolve ourselves of that responsibility and remain stuck where we are.
- ‘Money is the root of all evil’ – Money is neither good, nor bad. It is a neutral tool to use as we wish. Money doesn’t create greed, corruption, or selfishness. In the right hands, money can be a great thing!
- ‘I’ll always be broke’ – This limiting belief about money stems from generational poverty, and is what keeps the cycle going. When you view money through the lens of scarcity, you become blind to opportunities in front of you, and your belief becomes a self-fulfilling prophecy.
The key to combating these limiting beliefs about money is to be conscious of your thoughts and actively work on reversing them.
Instead of focusing on what you can’t do, shift your mindset to what you can do.
Build an abundance mindset and affirm that you can achieve your financial goals.
2. Accepting where you’re at
Some people have a tough time believing they deserve more in life. They trick themselves into thinking that their current money struggles are just how things are supposed to be, and they learn to live with it.
What this really comes down to is people not valuing themselves and lacking confidence. They keep their expectations low so they don’t get disappointed or feel like failures.
The sad thing is that this money block will hold them back from taking risks and dreaming big. If they stay stuck in this mindset, they’ll never achieve their best life.
3. Negative self-talk
Negative thoughts and self-talk definitely contribute to money blocks.
When you vocalise your negative thoughts, they gain power over you. and before you know it, they become your truths.
Be mindful of the words you speak.
If you catch yourself uttering negative statements, immediately rephrase them in a positive light. Your words have a profound impact on your motivation, mindset, actions, and perseverance, all of which are crucial for financial success.
4. Being afraid of money
It’s intriguing how a fear of the unknown or of the worst outcomes can impact us.
This particular money block has a way of deceiving us into believing that we’re acting responsibly by limiting our income. We convince ourselves that having less money equates to fewer problems and reduced risk, leading to a simpler life.
It’s easy to fall into the trap of thinking that more money will disrupt our closest relationships – we worry that friends will distance themselves, or even try to take advantage of our newfound wealth.
However, it’s crucial not to allow fear to hinder the creation of your ideal life.
Research suggests that over 85% of the worries people have never actually materialise, so why permit fear to dictate your choices?
5. Lacking specific goals
Without clear and measurable financial goals, you’ll face one block after another.
Vague goals lack focus, making it easy to get derailed and lose motivation.
Set specific and time-bound goals that you can track and measure. Break down your biggest goals into smaller milestones, which are easier to accomplish and keep you motivated.
6. Believing that you don’t have the education for a better-paying job
Many people hinder their chances of attaining greater wealth because they lack a degree or advanced training. As a result, they confine themselves to low-paying jobs, convinced that it’s the only path available to them.
However, in today’s digital era, that couldn’t be farther from the truth!
With so many online side hustles available, the options for boosting your income have never been more accessible, and you don’t need a degree to seize them.
Occupations like blogging, creating digital products, selling clothes, or even selling pictures of your feet (!) can open doors to an additional income of over $40,000 per year!
Even in more traditional realms, there are plenty of paths to a solid salary without a higher degree.
All it takes is a bit of research to uncover the perfect opportunity that aligns with your aspirations.
7. Emotions towards others
Jealousy and anger towards others who appear more financially successful can be detrimental.
These emotions keep us stuck in negative thoughts and actions, rather than using our energy to take actionable steps to improve our own financial situations!
Practice gratitude, acknowledge the blessings in your life, and realise that everyone’s journey is different.
8. Failure to forgive yourself for past money mistakes
We all make mistakes with money. It’s a part of life.
What truly matters is being able to forgive yourself, learn from those mistakes, and move forward.
Acknowledge where you went wrong, make a plan to rectify it, and be persistent in your efforts. Releasing the burden of past mistakes allows you to focus on achieving financial success.
9. Money status scripts
A common money block is the belief that being rich is the ultimate measure of your worth, and believing that your value as a person hinges on how fat your bank account is.
This is called a ‘money status script,’ and it can lead you down a path of living beyond your means, racking up debt just to keep up appearances and make others think you’re swimming in dough.
Money status scripts are all about trying to impress and get the admiration of those around you.
Here’s the kicker: many folks who get stuck in this mindset end up relying on others for financial support because they can’t stop overspending!
If you want to attain true financial freedom, it’s important to break free from this money mindset and recognise that your value as a person has nothing to do with how much money you have in the bank.
10. Avoidance of finances
Do you avoid tracking your transactions, making a budget, reviewing credit card and bank statements, or paying your bills on time?
Avoiding financial matters only perpetuates money blocks, and it can result in some serious consequences, including bankruptcy!
Combat this money block by creating a routine to regularly check in with your finances. Developing healthy financial habits and staying aware of your money will help you overcome this block and become more financially secure.
11. Worshipping money
Believing that more money leads to more happiness is another limiting belief that is known as ‘money worship.’
This is another kind of money status script, but rather than resulting in over spending, it often results in the complete opposite.
Striving for financial abundance is positive, but an obsession with money can lead to an overzealous hoarding of it, and living in fear that not having much money will result in unhappiness and a lack of security.
This can result in so much guilt about spending money that you miss out on all the great things that money can buy!
Aim to strike a balance between achieving your financial goals and enjoying the present moment.
How to tell if you have money blocks
A useful way to determine if you are grappling with limiting mindset blocks around money is if you feel trapped in your current financial situation.
Even if you are taking the necessary steps to save more money or reduce debt, you might find yourself making little to no progress.
This sense of stagnation is a strong indication of money blocks at play, especially when you possess the desire to succeed.
Another significant sign that money blocks are hindering you is when you are on the verge of achieving a goal, but then make a poor decision that prevents you from reaching it. This often signifies a fear of success, stemming from a belief that you are not capable or deserving of achieving your goals.
When faced with money blocks, it is common to exhibit confirmation bias, where you selectively seek out and interpret information that supports your pre-existing beliefs and values.
For example, if you firmly believe that you will never overcome your debt, you will interpret your circumstances in a way that validates this belief.
Consequently, you may engage in self-sabotaging behaviors that reinforce your negative belief, perpetuating a vicious cycle.
Here are a few common signs that you may be experiencing money blocks:
- Frequent feelings of jealousy and bitterness: If you frequently compare your financial situation to others and experience envy or resentment, it could be an indication of money blocks.
- Hoarding what you have: If you struggle to spend money on necessary or desired items and instead hold onto it tightly, this may indicate a money block. It demonstrates a scarcity mindset that hampers a healthy relationship with money.
- Reluctance to invest in yourself: If you hesitate to invest in your personal or professional growth, it might be a sign of a money block.
These signs can reveal deeper issues that impede your financial success. It is crucial to recognise these signs and take steps toward cultivating an abundance mindset to overcome your money blocks.
The good news is that many people encounter some level of struggle with money blocks, but succeed in identifying and overcoming them.
So, let’s discuss a few simple steps you can take to dismantle your money blocks and start making progress towards your financial goals.
How to overcome money blocks
Overcoming money blocks isn’t easy, but it paves the way for developing a healthier and more positive relationship with money.
In order to overcome your money blocks, it is essential to identify their root causes.
This may require introspection and self-reflection, and possibly even talking to a therapist to identify where your core beliefs about money stem from.
Often, our money blocks are deeply-rooted within our subconscious minds, and have been since childhood.
However, before we can get to the root cause of our money blocks, we need to first figure out exactly which money blocks we have.
Perhaps you felt yourself nodding along when you were reading certain parts of this article.
If so – congratulations, you’ve identified your money blocks!
If you’re still unsure, grab a pen and paper and try to write down all of your beliefs about money.
Write down your feelings about rich people, investing, saving money, and spending money. Soon, you’ll begin to see a pattern emerge.
The next step is to try and reframe your beliefs about money.
Challenge the idea that money is the root of all evil, or that you will always be broke. Try and look at things through an objective lens and question whether your beliefs are facts, or just beliefs.
You might also want to start using positive affirmations, or taking steps to enhance your financial literacy.
One book I particularly recommend is Rich Dad, Poor Dad, by Robert T. Kiyosaki.
At its core, this book is all about unpacking and reframing our limiting beliefs about money.
If you don’t have time to read the book, you might find my in-depth summary useful.
Once you know what your money blocks are, keep them in mind next time you have to make a financial decision – it can be eye-opening to see our subconscious money blocks in action!
What are Money Blocks? | Final Thoughts
In conclusion, understanding and removing money blocks is within your reach, and when you understand what money blocks are, you are one step closer to overcoming them.
You have the power to break free from the cycle of being broke.
Take the time to identify your money blocks and take proactive steps to address and challenge them.
Remember, setbacks may occur, and that’s okay – don’t let a brief setback impede your journey to becoming financially free!
That’s all I’ve got for you today, but as always, leave any questions you have in the comments section below and I will do my best to answer them.
Until next time,