Money Struggles – 5 Ways We Trap Ourselves
You want the luxury holiday. You want the home. You want some spare time to finally relax a bit and enjoy life. But then comes the big question—how will you pay for it?
Money. It plagues the majority of us. When you think about it and look closely, you will realize how much our lives are governed by money.
From failed business deals, household dysfunction, conflict with spouses, and insomnia—you name it. Many people suffer today because of a poor relationship with money. Just when someone is inspired to get what they want out of life, they get shut down by thoughts such as:
- “I can’t afford it!”
- “If only I had more money, then I would …”
- “More money will make things better.”
- “There will never be enough money.”
- “Money is unimportant.”
- “But I have to work harder to earn more money!”
It can feel like a prison when anything you want in life seems to come with a price tag you can’t afford.
But what if it didn’t have to be that way? In this article, we shed light on the 5- ways you might be trapping yourself with money problems, and what you can do to start to shift.
Combined with our experience in training over 8000 people worldwide on how to build wealth—we share our perspective on money struggles. That way, you can position yourself to:
- Earn more money with greater ease.
- Become more resourceful in life, rather than being reliant.
- Develop a “can-do-abundance”
And really enjoy the peace of mind that comes when you believe you can achieve anything you want in life. Enjoy! 🙂
1 -Trading Time for Money
The poor always work for money. This common wealth limitation means you will only ever be able to earn more money if you exchange your time for it. Therefore your wealth is capped based on your hourly rate. You can of course charge a very high hourly rate and accumulate wealth, however that is not the most efficient or quick path to wealth accumulation. You only have so many hours in a day.
The smart thing to do is to have money work for you. Rather than exchanging your time for money, every cent you earn can be invested into a business, or some other wealth vehicle (e.g. stock market) that leverages your time so you can earn more by doing less. Examples include:
- Sourcing skills and expertise in your business, so you can focus on building your business rather than being in it.
- Selling a product or service that has a subscription model. That means you earn recurring payments without additional work.
- Investing in a system that will help you earn more money hands-off. One example is the use of share trading and internet businesses. Once you set the system in place and use technology to automate it–you can earn money while you sleep!
The objective is to decrease time input for a certain money output.
2 – Scarcity Mindset
Although money gives you the opportunity to earn more money, it isn’t the only thing you need to make money. But opportunity is everywhere.
Even as you look at this page, you are seeing less than 1/10 billionth of the information that is passing through the universe. We call what we see visible light. The same thing happens with money-making opportunities. What you see is only a fraction of what is available. So you must train yourself to see the opportunities.
In life or business people will pay you for something of value if you are willing to listen to their problems, identify a solution and then cater for it. Or if you need resources to start a business or wealth building activity you can always exchange a favor or service to get what you want.
It’s not money that you need; it is specialized knowledge in the field of—fair exchange and resourcefulness.
Give you an example—people think they need a lot of money to be able to invest in stock trading because it is risky and you have to take a loss. However, that is not 100% true. Because if you learn how to trade virtually first and consistently demonstrate a stable return—you can reduce the risk you have on your own money.
As your skill increases you can execute a trading plan that prevents you from losing any more than a certain amount. Using this approach, our international trainer Mirriam MacWilliams earned US$2million within two years. She started small and built her way up.
3 – Limiting Money Beliefs
Money is a neutral construct and a simple representation of choice and a medium for exchange. Like the rays from the sun, money does not discriminate. Whether money is good or bad is not determined by money, but by the users of money –humans! So if money goes into hands of good, it will do well. It only reflects what is in the heart of the user. Our thoughts around money affect the results we get with money.
In the book Wired for Wealth by Brand Klontz (Psy. D.), Ted Klontz (Ph.D) and Rich Kahler (CFP®), their study examines the beliefs and behaviors of 422 people from all walks of life, income levels and levels of net worth. More importantly, they identified the limiting beliefs or “money scripts” people who struggled with money had.
You may have heard it before that “money is the root of all evil” or that “money does not make you happy”. Remember that these are simply beliefs. If you relate to money as evil or as something that can’t make you happy, then why would money want to work with and for you?
Think about it for a second. Let’s consider a relationship. If you wanted to spend more time with your wife or husband, and you secretly thought they were the root of all evil and that they didn’t make you happy—you wouldn’t be married for very long would you? The same thing happens with money.
If you take care of money though, it has a tendency to come back to you and take care of you too. For example if a person is treated well—they will reciprocate.
Which of these beliefs do you identify with?
- “Money is bad.”
- “I don’t deserve money.”
- “It’s not nice to talk about money.”
- “If you are good, the universe will supply all your needs.”
Once you notice which ones you have, take some time to find evidence for the opposite. For example, “how can money be good?” or “when is it nice to talk about money?”
The relationship you have with money is important if you want to attract wealth into your life.
4 – Unwillingness to Learn
I was recently invited to join some friends for dinner at their home. As I arrived and parked in their drive, I saw their garage door was open so I walked in that way as I often did. I happened to notice on the window sill several dead flies. But most surprising was one very determined fly batting his head against the closed window, backing up, and doing it again. And again. And again.
I glanced to my left and perhaps 6 feet away was the wide-open two car wide garage doorway. I immediately saw the paradox… do you? That fly didn’t lack willpower, determination, focus or effort.Yet that fly was doomed to fail. To die right there on the window sill with the other dead flies that tried to break through the window.
How many people do you know who keep doing the same things over and over again—maybe even putting in more hours with more stress and effort—and keep getting the same results smacking them in the head! (Einstein called this his definition of insanity!).
So when it comes to money, be willing to learn new ways of thinking. New ways of relating to money. Become a student of the discpline called wealth building—learn from others who have achieved what you want to achieve. It’s been said a lawyer who represents himself has a fool for a client. A surgeon doesn’t do surgery on himself, and top CPAs don’t do their own taxes.
There is no reason you shouldn’t look for coaching around wealth if that is something you want. It’s always worth investing in you!
5 – Misinformation
What happens when a swimmer practices running for a month before a swimming race? What happens when long-distance runner is forced to practice 100m sprints for his upcoming marathon? You can probably guess the answer—they’ll likely lose the race because they are well trained at doing the wrong thing.
The same thing happens with money. If we learn inappropriate money-making habits, beliefs and behaviors—it can get very costly to make a change. Give you an example, suppose you are taught to only focus on revenue generating activity and earning more and more money. However, if no one teaches you that you must also balance your spending—you might end up worse off financially than when you started.
In Wealthy by Choice, you can get a complimentary free chapter to learn more about how you can create wealth in life, and live a life free of financial struggle. No BS. No cheesy-selling. All 100% authentic specialized knowledge from experts worldwide. Experts who have built wealth from scratch, and taught 1000’s of successful students worldwide, how to do the same.