What are Your Money Blocks?

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We have touched some on the process of finding out what money blocks you may have and how to tackle them best. But let’s get to this a little more directly. The examples, while common, may not necessarily relate to your situation but the process of discovering the blocks you have, and mitigating the block, is the same.

Write down a list of past money mistakes that you’ve made that you know for sure were a mistake now because the data is in and shows the mistake clearly. For example, did you fall for a timeshare presentation and now you must pay for the same vacation for the rest of your life and even pass it on to your kids? Did you buy a home because you thought it was a good financial idea or for some other reason? Do you have student loans that you regret?

Write down the story about why you made the choice you made regarding the idea you had that you now call a mistake. Then write down why your ideas at that time were wrong, how you know they were wrong, and how you can in the future ensure that when you make financial choices you really give yourself time to educate yourself and never make choices under pressure of being left out or time constraints. If you don’t have time to educate yourself appropriately, always say no.

When you learn something new about yourself or about a mistake you made in the past, write down that story. Write down the story of why you made the mistake, and how you’d do it differently next time. Try to relate this to other projects or issues you have in your life right now too. Can the same lesson fit different scenarios?

Write down a plan to move yourself forward. Now that you know the mistakes you’ve made, write down a plan of how you can make different and better choices going forward. Write down all the steps. For example, if you have now decided that you don’t want to live in the cookie cutter cul-de-sac (or conversely, that you do want to live in the cookie cutter cul-de-sac) that you live in right now, you’ll need to write down all the steps you need to take to get to where you want to go.

Realistically add everything to your schedule and your calendar. Be realistic about your time constraints from your life and how much you’ve agreed to devote to your business. When you use the calendar approach, it really helps you make better decisions regarding your time because you can see everything, personal and business, that takes your time at a glance.

Money Block: You Think Rich People are Bad

This shows up in how you feel when you must be around rich people, or when you are receiving large sums of money. You find yourself feeling resentful about the rich person and no matter what they say, you find them to be petty and useless.

When you are receiving large sums of money, you tend to start spending large sums of money. Not really on yourself but others without them even asking so later you can blame them for your lack of funds to take advantage of a really good investment. This is a sign that you have been turning money away because you don’t want to be a bad person like rich people.

To turn this around, you’ll have to research about the good that rich people do. Sure, some rich people are ignorant about the lives of average folks, but instead of being angry or resentful, maybe you can be a light that shines on the issues of average people that the rich person may be able to assist with in their own way. Because certainly, due to the differing attitudes about money, even if every rich person gave their money to a poor person tomorrow, within a year or two everything would be back to where it started due to different decision-making skills.

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