Your money problems are all in your head

Most people wish they were better with money. It doesn’t matter if you need to make more or spend less. Chances are, you feel like you’ve tried everything and gotten nowhere.

Here’s a secret: It doesn’t matter how many times you try to stick to a budget or promise to give up your afternoon Starbucks run. The problem isn’t your habits. It’s your head.

Our beliefs about money were developed when we were very young, taught to us by our parents and our culture. According to an article in Psychology Today by Dr. Matt James, many people have bought into negative cultural myths about money that are holding them back. He wrote that if you believe the following statements about money, you might be one of those people.

  1. It takes money to make money
  2. The rich get richer and the poor get poorer.
  3. Money is the root of all evil.
  4. My financial success depends on the job market and the economy.
  5. Life is hard.
  6. Wealthy people are selfish penny-pinchers.
  7. It’s a dog eat dog world out there, survival of the fittest.
  8. To climb the ladder of success, you have to step on others along the way.
  9. You have to be in certain professions to make a lot of money.
  10. Only a few people (musicians, athletes, bloggers, actors, etc.) ever make it.

Dr. James has extensively interviewed successful, wealthy people about their attitudes toward money. He found their beliefs to be very different from most people. They include:

  1. The world is abundant.
  2. The world wants me to prosper.
  3. All prosperity begins with belief.
  4. Money is energy and will appear as you really feel about it.
  5. Money demands attention.

These successful people didn’t believe money had anything to do with the economy, their profession or the need to sacrifice their principles.

If you have tried to change your financial habits and failed, that’s a sign you subconsciously believe you can’t be successful, Dr. James wrote. First you have to let go of the negative emotions and beliefs Iike the ones listed above. Then, after you’ve changed the way you think about money, set goals and take action to achieve them.

Once you change your mind about money, your fortune will change too.

Heather Anderson

Heather Anderson

Heather Anderson covers consumer financial news for, offering readers tips on budgeting, setting and achieving financial goals, and developing a healthy relationship with money. She is co-founder of ... Web: Details