Did you know that your family’s legacy and attitudes toward money could be affecting the relationship you have with money right now? What if you knew that the way you think about money could be impacting your income – causing you to make poor decisions around what you are charging for your services, or how much money you are or are not investing in your business?
What is poverty mentality?
If you’ve never heard of poverty mentality, it is mindset that some people develop over time about money – usually it’s the deep-seated belief that you will never have enough. It’s completely rooted in fear – and fear is (in my opinion) the number one reason some people never get anywhere in life.
When you have a poverty mentality, you’re stuck, and you won’t see positive changes in your income or spending (or saving) habits, either. This is a horrible money habit – a mindset, really – that has to be broken in order to see progress both in business and in life.
I found a great post which outlines three warning signs of poverty mentality:
- Constant Money Fixation
- “I hate rich people” syndrome
- Fear-based decision making
This is such a good quote from the above-mentioned post:
Have you ever seen someone experience more anguish at losing $10 than earning $100? Ever seen someone drive around a parking lot for 10 minutes to avoid a one-minute walk to the store?
These scenarios are fear-based, not prosperity driven. The decisions are not made on what the possible benefits are, but made in order to avoid a possible negative outcome.
Webinar on Breaking Through Unhelpful Money Habits
In chatting over email with Australia-based business coach Annemarie Cross, she let me know about a free webinar she’s leading this upcoming Friday, January 28, 2011 from 6-7 PM Eastern Time (4-5 PM Mountain Time – www.timeanddate.com) which you ought to register for. The webinar is called “Money Breakthroughs Webinar: Breaking those unhelpful money habits to ensure 2011 is your best year yet!”
- How your family’s money legacy can block you from generating the income you want and what you can do to reverse this;
- Practical steps to get rid of money clutter that can seriously impact the flow of money coming into your life;
- The importance of building a strong self-worth account, and what to do to stop making damaging withdrawals;
The webinar is free so I encourage you to attend it if these are areas you’re struggling with. I know I certainly have bad money habits I need to break in order to make 2011 as profitable as it can be.
One of the things I have learned (and now share with my clients) is that the reason I was struggling to generate the income I desired went much deeper than marketing and other business development strategies. The reason I wasn’t able to charge what I was worth had nothing to do with my abilities and the programs I was offering.
I was struggling because of my self-belief, self-worth AND beliefs I had around money. I call it my family’s money legacy. So up until a few years ago, the story that I had grown up with about money as a young child had been negatively impacting the income I was making (or in my case ‘not making’) in my business.
Here’s to breaking the poverty mentality and bad money habits, and setting sights on bigger things in 2011!
Image credit: Shutterstock
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