Negative Self-Talk Is Destroying Your Money
Negative Money Mindset Talk
“I’ve never been good with money.”
“I hate budgets.”
“I’ll never be a 6-figure earner.”
“My market won’t pay premium prices.”
If you’ve ever heard these statements come out of your mouth—or even in your head—then you’re engaging in a damaging habit known as negative self-talk. By telling yourself these lies (and yes, they are lies) you’re reinforcing the beliefs that go along with them.What you visualize and believe is what becomes true.
Tell yourself that you’re not good with money, and you won’t be. Believe that budgets are horrible chores to be reviled, and you’ll resist creating one. Convince yourself that you can’t earn a 6-figure income, and you won’t.
It’s not “the secret.” It’s a scientific fact. Known as a self-fulfilling prophecy, this kind of self-talk results in poor performance simply because we act as if it’s already true.
We all do it. No matter how successful you are, at one time or another you’ll fall into the self-sabotage trap, and the price of admission is high.
If you tell yourself that you’ll never be a 6-figure earner, you will not do the things that 6-figure business owners do. You won’t work to grow your mailing list (“No one reads my emails anyway”), you won’t increase your coaching rates (“It’s not like I’m some top-earning coach”), and you won’t build a brand worthy of a 6-figure income (“A beautiful brand isn’t necessary at this income level”).
By contrast, if you act and think as if you already are a 6-figure earner, you’ll approach your business quite differently. Your confidence level will increase. You’ll present a very different brand to your prospective clients. You’ll go out of your way to connect with those who can and will afford to pay your higher rates.
How to Combat Negative Self Talk
The first step toward changing your negative self-talk is to simply acknowledge that you do it. Tick a mental checkbox every time you catch yourself making negative statements, this includes you saying it out loud or in your head.
Make a note of the ones that come up most often for you, and identify their origin if you can. For example, if your significant other or parents continually berated you for your spending habits. Guess what – “I’m no good with money” mantra can be laid right at their feet. It’s time to turn that thinking around.
The next time you catch yourself saying “I’m no good with money,” take a minute to recall 5 instances where you were good with money. Maybe you paid off your credit cards or saved for a house or built an emergency fund. Rephrase your self-talk to, “I used to be bad with money [if that’s true], but now I make smart choices to achieve my goals.”Just as negative self-talk becomes a self-fulfilling prophecy, so does positive self-talk.
As a result of reframing your thinking, your business and personal finances will certainly improve.
A great book to check out, that will help you around your money mindset is below. Click on the image to read about it.
First things first, lets benchmark where you are today. On a scale of 1 to 10, where do you rate your negative self-talk. Ten is bad, one is fantastic.
Pick the biggest negative self talk issue you will work to combat
Rewrite that negative chatter with a positive affirmation.
Post that affirmation everywhere you will see it.