4 Toxic Money Beliefs That Keep You From Financial Freedom

toxic-money-beliefs

I’ve seen a lot of articles and videos that talk about “toxic” money beliefs and how those are standing in the way of achieving financial freedom and building sustainable, long-term wealth.

I’m not a fan of the term because it’s overused. But the idea that we have certain destructive beliefs about money is certainly true.

The most obvious destructive beliefs are “money is evil” or “I’m not good with money.” We all get that. Money is good if you use it to do well. And everyone can learn to get better with money.

But I’ve experienced that there are deeper, less-explored toxic money beliefs. And the first step to weeding them out is by being self-aware.

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Want to Succeed? Stop Comparing Yourself to Others

stop-comparing-yourself-to-others

When we think about success, we almost always make comparisons. That’s how people end up chasing titles, recognition, number of followers, or more income.

That’s a shame because most people start with the best intentions. You might want to:

  • Organize yoga retreats
  • Do more freelancing work for a handful of clients who appreciate you
  • Start a business by doing work you enjoy, and that creates value
  • Invest in real estate or companies that are undervalued

So you start out well. You do the right thing. You educate yourself. You get after it.

But after working a while, you get bored. Results might not come as quickly as you expected. The work is hard. People are ignoring you.

During those times, you need to be better. But instead, you get distracted by comparing yourself to others. That’s destructive behavior. Comparing oneself to others has destroyed many people’s good intentions.

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Work Less, Earn More: Why High Performers Live a Good Life

earn more and work less

You don’t have to spend the rest of your life feeling exhausted from work, waiting for the weekend, and barely making ends meet every month.

Instead, there are smart choices we can make now to set ourselves up well for later. But that means we have to do hard things today, and that’s exactly why not everyone is earning more.

Most people have a very short time horizon. If you’re willing to look farther, you will make better choices today. Choices that improve your life.

Here are two of those choices. I believe these are the most important reasons why some people earn more than others.

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How to Stop Stressing Over Money

how-to-stop-stressing-over-money

Money is the biggest cause of stress in the United States, according to the American Psychological Association.

You can also find that back in medical statistics. 75% to 90% of all doctor’s office visits are for stress-related ailments and complaints including chest pain, headaches, high blood pressure, insomnia, and depression.

Stressing over money will make you mentally and physically sick. Now, no one likes the fact that money is the most important thing in our society. But it’s the way things are.

We can do two things:

  1. Complain, resist, and worry
  2. Address the issue

I pick the latter any day of the week. There’s simply nothing we can do to change capitalism. But we also don’t have to become a victim. We can take charge and work with the rules of the system, and make sure we prioritize our mental health.

It all starts with awareness. If we know exactly what causes our money stress, we can address it.

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