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What You Believe About Money Does Matter

Written by: Dorothy M. Neddermeyer, Ph.D., Executive Contributor

Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.

Executive Contributor Dorothy M. Neddermeyer, Ph.D

What are your beliefs about money? Have you wondered how some people are able to build wealth seemingly effortlessly? They might have similar history or education and yet, there seems to be a wealth gap that you aren’t able to get a clear picture about their success and your success.

Machine counter automatic calculates a large amount of Dollar

There is a profound reason. “We experience what we believe. If we don’t believe that we experience what we believe, then we don’t, which still means the first statement is true.” ~Harry Palmer

The question is what do you believe about money? You have no doubt read about ‘limiting beliefs’ about money.

You read the list ‘limiting beliefs’ and then what? It goes deeper than knowing your limiting beliefs, and reciting a mantra to change your belief(s) about anything, including money.

Your beliefs about money can affect the way you manage your finances. When you’ve identified the reason behind what you believe about money, and you’ve examined the inherited money beliefs that influence your decisions and behavior, you can begin working on improving your relationship with money.

Many people who earn substantial incomes and make sound decisions in other areas of their lives compromise their financial security by making poor financial choices. In some cases, inherited money beliefs are an issue few people talk about. “I don’t need to worry I’ll have a big inheritance when my parents pass.”

The good news is it’s possible to change the way you think about money. First, it’s important to identify and understand the money beliefs that may be stunting your ability to grow wealth. The next step is adopting new ways of thinking, and that means learning more about healthy money beliefs.

Financial knowledge is a powerful tool, especially when you’ve done the work to improve the way you think about money.

Imagine for a moment that the reason you haven’t gotten what you desire and deserve has nothing to do with how hard you’ve worked or how many mantras you listen to and say.

And everything to do with being on the wrong path –– a path that simply does not lead to your desires or dreams.

What if the path leading you to your desires and dreams is as different as lightning bugs are from lightning bolts?

A path so unlike society’s typical ideas about self-improvement that it might seem crazy at first.

Some will read this article and say: “Huh. Interesting questions and ideas. I don’t really know. Oh well, back to work. Or will you continue reading?

Knowing and understanding what your money beliefs are is empowering.

Are you willing to consider an unconventional path?

You need to gain insight to restructure your personal beliefs about money. What did you hear about money during your maturation years?

You need to determine if the beliefs you hold are helpful or harmful, deliberately created or indoctrinated during the maturation years.

Did you hear any of these beliefs or similar ones about money during your maturation years?

  • Money doesn’t grow on trees.

  • Money is the root of all evil.

  • We don’t have enough money.

  • We can’t afford that.

  • We don’t make that kind of money.

  • It costs too much.

  • You can’t have everything you want.

  • If you work hard, you will make more money.

  • We don’t make enough money to save money.

  • There will never be enough money.

  • We don’t know how to handle money.

  • No matter what we do we’ll never get ahead, the system is rigged.

The messages you heard might have given the impression some people are unworthy or undeserving of creating the money they desire.

Some money blocks stem from a belief that it’s not safe to make more money. On some level they believe that something bad will occur if they create more money. Such as:

  • I’ll be taxed more.

  • People will take advantage of me.

  • My family or friends might think, I think I am better than them.

  • I’ll be isolated.

  • I might lose it all.

  • I’ll be super stressed with the responsibility.

  • Family or friends will pressure me for money.

The fear and responsibility of having a lot of money—triggers your fight or flight mechanism because the unconscious mind is hardwired to reject anything that registers as harm. Fear about money is real. The term chrometophobia originates from the Greek words chimata, meaning money and phobos, which translates to fear. In some extreme occurrences, the phobia is so severe that a person evades all contact with money, which can lead to serious financial issues.

The American cultural belief pattern about money is probably more negative and limiting than most any other area of life.

Money is as basic to our well-being as health or relationships. Zig Ziglar said, “Money isn't the most important thing in life, but it's reasonably close to oxygen on the ‘gotta have it’ scale.” Yet American culture has a real love/hate relationship with money.

I invite you to set all your misgivings about money aside, and complete this quick survey about money.

Step One:

  • Write five things you believe about yourself—how you see yourself irrespective of anyone else’s beliefs.

  • Write five things you believe about relationships.

  • Write five things you believe about money.

Step Two:

For each belief decide whether you experience it as Helpful (H) or Impeding (I). Also, write whether the belief is a belief you created deliberately (D) or was it a result of indoctrination (IND)—i.e. what your parents believed, or other sources of input—such as education, social norms, religious views, society, etc.

Step Three:

Step Three is where the rubber meets the road. Or is it where the money meets the road? The beliefs you hold that are designated as Impeding (I) or Indoctrinated (IND) need to be eliminated and replaced with an empowering and empowered belief. You need to decide which of your limiting beliefs needs to be eliminated first.

Then choose one to work on until that belief no longer comes into your thoughts. The process will be the same for each belief. However, only work on one at a time, to avoid overwhelming yourself. It will take 30 to 45 days to eliminate one old money belief.

Then, choose the next belief you need to eliminate.

Listen to your thoughts and the words you speak. When you hear yourself think or say the belief you intend to eliminate, stop and rephrase the thought or statement. For example:

Old Belief: New Belief:

I don’t have enough money. I will find a way to achieve it.

It costs too much. I will find a sale.

Money is the root of all evil. Money is a medium of exchange.

new mindset to new result

After you have achieved eliminating each limiting belief about money, give yourself a reward. Here are some suggestions

  1. Give yourself a facial.

  2. Take a rest. Sit in a comfortable chair or sofa.

  3. Read a book. Escape into another world by reading a new book or re-reading one of your favorites. Visit a local library for free options.

  4. Have a movie marathon. Netflix or scroll the channels for one.

  5. Listen to your favorite music. Play old CDs. Or listen to YouTube music. Music will add to your happy mood.

  6. Do a happy Dance. Dance around with your favorite tunes.

  7. Play with pets. Take your pet for a walk or snuggle with those that enjoy the contact. You could visit a pet shelter or pet store to cuddle with animals that may need a home.

  8. Visit a free museum or local attraction. Discover historic places in your region that interest you. Expand your mind by getting lost inside an exhibit or interesting place.

  9. Listen to a podcast. What people or hobbies interest you? There’s probably a podcast by your favorite celebrity, musician or artist on topics that appeal to you.

  10. Go for a walk, bike ride. Spend 30 minutes going for a leisure walk, bike ride. If you have time, do both. Don’t follow the usual route when you may be tempted to run an errand or get a task done. Instead, pick a trail you’ve wanted to see or go along the beach to take in the beautiful scenery.

  11. Watch a video tutorial to learn something new. Then put that skill into action.

  12. Sit and people watch. Enjoy down time observing others and blending into surroundings. You can watch people in a busy place like a coffee shop, airport, farmers market or a park.

  13. Climb a tree. Go to a park and select a tree with low branches and climb onto the branch or sit leaning against the trunk. and watch people walk by.

  14. Add your own ideas to celebrate your success. Use one or all of these to treat yourself rather than indulging in food or spending money. Reward yourself with things that are healthy and good for your mental and emotional well-being.

The achievement of financial aspirations that are desired, planned, and created, as defined by the person who seeks financial literacy.

Golden Dollar symbol and flying dollar notes.

Enjoy your journey to empowerment and financial success. Remember you choose what financial success means to you.

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Dorothy M. Neddermeyer, Ph.D Brainz Magazine

Dorothy M. Neddermeyer, Ph.D., Executive Contributor Brainz Magazine

Dorothy M. Neddermeyer, Ph.D. is a successful influencer in the public and private sectors, as a consultant, coach, and keynote speaker. She has 30 plus years of global experience in leadership development, behavioral change, and enhancing human potential ‒ i.e. you can achieve more than you think. Dr. Dorothy is passionate about developing great leaders. She works with senior and emerging executives to amplify their leadership skills and drive viable/sustainable organizations with relevant, adaptable, centered, and authentic skills. Her areas of expertise are:

  • Leadership/Sales Development

  • Behavioral Change

  • Business Strategy

  • Communication Skills

  • Diversity Coaching

  • C-Suite, Senior, and High Potential


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