3 basic rules for managing your money

How we see money determines how we treat it and this in turn creates the financial circumstances we experience. Having a mindset of wealth and abundance doesn't mean being irresponsible with money and disregarding the basic rules. The celebrity world is littered with tales of stars who have been forced to declare bankruptcy despite the fact of having earned hundreds of millions of pounds during their career. For example, Michael Jackson is purported to have earned over $500m; yet at the time of his tragic and untimely death, it is estimated that his estate was over $400 million in debt. Far from disregarding basic financial management rules, a mindset of wealth and abundance positively embraces the realism of living within your means and being able to defer gratification. When you truly … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #9

Limiting belief # 9: it takes money to make money Whoever said "it takes money to make money" was most likely trying to justify accepting things as they were. It is easier to believe in this limiting belief and abdicate responsibility for changing your circumstances than to get of your bum and take action to do something about it. It doesn't take money to make money, what it takes is the ability to leverage what you have, your intelligence, talents, ingenuity and communication and networking skills. The truth is if you cannot make money without money you are unlikely to be able to make money with money! There are plenty of people in the world with money who are desperate to invest in good ideas. Ideas are much more than valuable than money – as illustrated by Dragon's Den. If you … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #8

Limiting belief # 8: you need to save your money in order to become rich Whilst living within your means and saving money is an important element of a healthy money mindset; over emphasis on saving and budgeting tips the balance between trusting in abundance and focusing on scarcity and lack. Over emphasis on scarcity and frugality tends to be the reaction of people who have lived through difficult times. The memory of their struggle with their finances leads to them being afraid of losing what they now have and as a result they hoard everything, afraid to part with any of their possessions no matter how redundant "just in case". Money is an energy flow and energy flows need to keep moving or they become stagnant. Anyone who has ever smelt stagnant water will appreciate how … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #7

Limiting belief # 7: money doesn't grow on trees Possibly, one of the most common statements parents make to their children is the idiom "money doesn't grow on trees". My mum also used to say "whoever told you I am the bank of England was lying" as an alternative; I guess when she felt that the money-tree statement was getting tired and ceasing to have the desired impact. That is, to get us children to stop pestering her to buy us something which she'd rather not spend money on. As recent arrivals to a country that promised economic opportunity which didn't materialise, my parents were strapped for cash, working in low paying jobs trying to raise four children. My mother came from a middle-class family and was used to having her needs met and so her way of dealing with lack was to … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #6

Muhammad Yunus Limiting belief # 6: money wields power in a negative way Whilst it is true that many people with vast fortunes also world a lot of power, true power comes from your ability to influence others with the power of your mind and the integrity of your spirit. Consequently it is possible to have power without money, but more interestingly it is also possible to have money and use it with the power of an inspirational mind to help others. An example of the former is Nelson Mandela. Imprisoned as a terrorist, Nelson Mandela served over 27 years in jail, in virtual isolation. He had no money to speak of yet on his release, he was to lead a nation from a process of healing and dismantle the apartheid system. Nelson Mandela is one of the world's most revered statesmen, … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #5

Limiting belief # 5: you have to work hard for money. According to the story of Adam found in the Abrahamic faiths (Judaism, Christianity and Islam) God cursed Adam for disobeying the only rule in Paradise – not to eat from the forbidden tree. The curse was that Adam and henceforth all people would have to work hard for their food all the days of their lives. Pretty heavy guns – the whole of humanity punished for the transgressions of a single individual. This punishment would definitely not pass the test of fair and reasonable, let alone be considered proportionate to the crime, as required by today's standards of justice and fairness. It appears that this is the root of the misconception about needing to work hard to earn money. Given that just over 54% of the world's population … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #4

Limiting belief # 4: It is more spiritual to be poor. This is another belief given to us by religious traditions. Many of the world's faith traditions contain stories of how the poor were blessed because they displayed humility in the face of trials or they sacrificed something for others. Poor people are seen as righteous and the rich are considered to be weak and selfish. Possibly the most well known reference to this comes from the Christian tradition when Jesus proclaimed that "blessed be ye poor, for yours is the kingdom of heaven". Obviously taken in isolation this approach gives the impression that it is more virtuous to be poor, however as with anything the key is balance. Clearly the great spiritual leaders were supported by rich benefactors as well as poor ones, because … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #3

Our beliefs are what give our thoughts and behaviour structure. What we believe tells us how to act in any given situation. However not everything we believe serves us well. If our beliefs prevent us from taking action that will enhance our well being then they are what is termed limiting beliefs. Limiting beliefs about money block the flow of wealth and abundance into our lives. Over the next 10 days I will be looking at the top 10 limiting beliefs about money and their origins. Limiting belief # 3: The amount of money available is limited and therefore the more one person has the less there is available for others For many people the total amount of money available is like a single pie. That is there is only so much is available to be shared and therefore if some people have a … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #2

Our beliefs are what give our thoughts and behaviour structure. What we believe tells us how to act in any given situation. However not everything we believe serves us well. If our beliefs prevent us from taking action that will enhance our well being than they are what is termed limiting beliefs. Limiting beliefs about money block the flow of wealth and abundance into our lives. Over the next 10 days I will be looking at the top 10 limiting beliefs about money and their origins: Limiting belief # 2: Rich people are dishonest Once again the most likely origin for this belief is The Bible. Jesus is quoted as saying in Luke 18:25, Matthew 19: 24 and Mark 10: 25: "For it is easier for a camel to go through a needle's eye than for a rich man to enter the kingdom of God" The … [Read more...]

Top 10 limiting beliefs about money that could be blocking the flow of wealth and abundance into your life #1

Our beliefs are what give our thoughts and behaviour structure. What we believe tells us how to act in any given situation. However not everything we believe serves us well. If our beliefs prevent us from taking action that will enhance our well being then they are what is termed limiting beliefs. Limiting beliefs about money block the flow of wealth and abundance into our lives. Over the next 10 days I will be looking at the top 10 limiting beliefs about money and their origins. Limiting belief # 1: Money is the root of all evil (Evil: that which causes harm or destruction or misfortune (noun)) It is likely that the basis of this belief is the Bible. Timothy 6:10 says "the love of money is the root of all evil". Given the dominance of Christianity in the West, this idea has been … [Read more...]