Unpacking Your Money Beliefs: The Key to Financial Freedom

Your relationship with money begins with your beliefs about it. These beliefs, often ingrained over the years, can significantly influence your financial reality. Most people's thoughts about money tend to fall into one of five common narratives. Let’s break them down:

1. Money Is the Root of All Evil

This belief is one of the oldest and most pervasive. Many people associate money, or the desire for it, with greed, corruption, and the world’s problems. The narrative goes something like this: all crises and conflicts stem from the pursuit of wealth.

However, this perspective overlooks the reality that money itself is neutral—it’s a tool. The choices people make with money, not the money itself, are what drive outcomes. If you find yourself thinking this way, ask yourself: does this belief create unnecessary guilt or resistance when it comes to earning and using money?

2. There’s Never Enough Money

The scarcity mindset is another common script. It convinces people that there’s always a shortage, regardless of how much they have in their bank account.

This belief isn’t just about actual financial constraints—it’s about a constant feeling of inadequacy. Even wealthy individuals can feel like they lack enough. If you catch yourself thinking this way, try reframing your mindset. Focus on what you do have and how to make the most of it.

3. Money Will Solve All My Problems

This belief suggests that money is a magic solution to every challenge. You might hear it in statements like:

If I had more money, I’d go back to school.
If I had more money, I’d live differently.

While money can certainly provide opportunities and alleviate stress, it’s not a cure-all. It doesn’t automatically bring happiness, fulfillment, or better decision-making. Interestingly, people with this belief often harbor contradictory feelings, like being suspicious of those who are wealthy.

4. Money Equals Self-Worth

This belief ties a person’s value to their financial success. It shows up in behaviours like:

Wearing designer clothes.
Driving luxury cars.
Living in prestigious neighbourhoods.

Advertising plays heavily into this narrative, promoting the idea that the more you spend, the more valuable you are. However conflating money with self-esteem can lead to a cycle of unnecessary spending and comparison. Remember: your worth isn’t determined by your wallet or your possessions.

5. You Must Deserve Money

This belief is rooted in the idea that money must be earned through hard work, sacrifice, or specific actions. It creates a sense of "deservability" around wealth, leading people to think they’re not entitled to financial success unless they’ve toiled for it.

While working hard is important, this mindset can limit you. It may cause you to pass up opportunities that don’t fit the “work hard” narrative, even if they could lead to financial growth.

How Your Beliefs Shape Your Financial Reality

Take a moment to reflect on your own money beliefs. How do you talk about money with others? How have your financial experiences over the past decade been shaped by these narratives?

For example, if you believe money is inherently evil, you might unconsciously push it away or feel conflicted about pursuing financial success. Or, if you associate wealth with self-worth, you may overspend to project an image that doesn’t align with your actual goals.

These conflicting beliefs create an ebb and flow in your financial life—moments of abundance followed by struggle.

The Challenge: Look Within

The truth is, that money issues are rarely about the money itself. They’re often about what’s going on inside you. Take some time to explore your beliefs:

Are they serving you?
Are they holding you back?

By identifying and shifting these narratives, you can create a healthier relationship with money and open the door to financial freedom.

Your money story isn’t set in stone—it can evolve as you do. Start by challenging the scripts that no longer serve you, and watch how your financial reality begins to change.