Common False Money Beliefs + Budgeting Myths That Are Keeping You Poor
The information provided in this blog post about false money beliefs and budgeting myths is for informational purposes only and should not be considered as financial advice. The author of this post is not a professional financial advisor, and the content presented here is based solely on personal opinions, experiences, and research. This blog post may contain affiliate links, which means that I may earn a commission if you click on the link and make a purchase, at no extra cost to you. Please note that I only recommend products or services that I personally use and believe will add value to my readers.
I know, I know. You must be thinking, what does mindset have to do with budgeting and finances? And to that, I say everything.
Well, almost.
In this post, we’re going to go over these FIVE most common false money beliefs and budgeting myths:
….AND how to overcome them!
False Money Belief #1: You Have To Work Long + Hard For Money.
If you’re anything like me, I’m sure you watched those around you struggle to make ends meet growing up.
Seeing them work hard to make ends meet made me believe that you must work hard to have money. However, that’s not the case.
The key to making money is being intentional with your time and being open to new opportunities.
I used to think working for a bank would make me lots of money, but I hated it and was paid very little. I never thought I would become a server or bartender. But it allowed me to pay off $30K in debt in less than ONE year!
Once you start to change your mindset around money, you will find more ways to increase your income.
False Money Belief #2: My Family Never Had Money + Neither Will I.
This is a very common false money belief, and I can understand why.
Although this is a common pattern in lower-income families, but it’s not true.
Just like a first-generation college graduate, or sober adult that grew up in an alcoholic family, you have the power to break your family’s generational curses and patterns.
False Money Belief #3: Wanting Money Is Selfish + I’m Not Selfish
I see this one most often when people think about those with wealth.
This false money belief makes people think that having wealth and becoming rich means becoming or being selfish.
But let me ask you this…
What would you do if you woke up tomorrow with all the wealth you could desire?
Visualize it, believe it, write it down.
Of course, you automatically imagined things you’d get yourself. Maybe you’d buy a new house? Or a new car?
But, I’m willing to bet when you look at that list, you also see how giving you’d be with that wealth.
For many people, they think about buying their parents a home or taking their family and friends on vacation. Maybe you’d donate to your favorite charities or give back to your community more.
This exercise proves that having or wanting money is not selfish but that it can expand your selflessness.
Wanting and having money does not make people selfish; it highlights selfishness already in people.
Budgeting Myth #1: Budgeting Never Worked For Me + It Never Will
This belief that budgeting has never worked out for you (which could be true) and the myth that it never WILL work out for you is exactly how my husband and I felt until we found out that budgeting was all about creating a personalized, actionable guide for our money and financial goals.
Once you realize that the key to budgeting is making it unique for you and your needs, it makes budgeting easy and replicable.
Budgeting can and WILL work out for you if you use the budgeting method my husband, and I used to pay off over 30K in debt in less than ONE year!
BEGINNER'S BUDGET BLUEPRINT
Learn how to budget step-by-step with 4 modules, over 15 video lessons, a 40 page course workbook, + budgeting spreadsheet!
Budgeting Myth #2: Budgeting Is Hard + Stressful
I saved this one for last because I know the number one reason people do not budget is because they believe three things:
- Budgeting Is Hard
- Budgeting Is Stressful +
- They Have No Idea Where To Begin.
My husband and I used to be just like this! And if this is you now, do not fret because I have created this post:
BLOG POST: The Complete Beginner’s Guide to Budgeting for Success!
Now that we have been budgeting with the method in this post (and my course), we have become debt-free and have paid off over 30K in debt in less than ONE year!
Because I believe in this budgeting method SO much and want to help others get out of debt, build wealth, and create the lives of their dreams, I have launched my course, the Beginner’s Budget Blueprint, to dive deeper into budgeting to help you do just that!
In this course, I take you step-by-step through overcoming your false money beliefs, setting your financial goals, organizing your finances, creating your budget, staying consistent with budgeting, and SO. MUCH. MORE!
If you’re ready to improve your finances, learn how to budget, get out of debt, and create your dream life, you need my Beginner’s Budget Blueprint course!
BEGINNER'S BUDGET BLUEPRINT
Ready to take control of your money for good?
Your step-by-step guide to stress-free budgeting is here!
It took us almost losing our house to finally say “enough is enough” with our false money beliefs and budgeting myths.
I’ve mentioned some common myths and budgeting beliefs we believed when we started and how we overcame them. Now it’s your turn to look at what you think about money, understand why, and take control of your beliefs and finances.
Overcoming these budgeting myths and entering a mindset that believes you are capable of improving your finances is the first big step to building a budget that works for you.
Make sure you sign up for my email list and enroll in the Beginner’s Budget Blueprint Course!
