The 10 Limiting Money Mindset Blocks Keeping You BROKE!

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This week I have an amazing guest post for you from the lovely Dr Claire Harris. She has written about how our limiting beliefs around money can have a HUGE impact on our financial status.

This is important stuff….

So enjoy! I’m sure she would LOVE to know your thoughts, so feel free to drop her a comment, or come into my FREE facebook group to do it there instead.

Who am I and why am I writing to you?!

I am Claire, mum of 2, wife, GP, aesthetics doctor and network marketer. I wear many hats but in the not so distant past I was a GP partner earning a good salary, stressed out of my mind and constantly worrying about money. Through this, I identified that although I earnt an enviable wage I had some “issues” with money that created additional stress and effectively a lack of available money. I grew up in a working class family and took many of my money mindsets from common societal views.

So I embarked on a quest to learn more about where I was going wrong and how to put it right. That quest would lead me to open both a traditional business and a leverage passive income stream through network marketing in addition to my standard GP work.

In this blog I will examine what I learnt about money mindsets and limiting beliefs around money. The 2 distinct money mindsets and 10 common limiting beliefs many people hold around money. In addition I’ll share some strategies to move forward with identifying your own and dealing with them when they pop up. The ideas here are a montage of learnings made through reading (well audible reading them while I drive) books and blogs around the subject some of which I’ve referenced at the end.

I don’t want you running away with the idea that by me writing this blog I have all these things figured out. Far from it…. I am always learning! This is a summery of things I have learnt and how I identified that I had an unhealthy mindset surrounding money. Examining your money mindset and pre-determined beliefs around money will allow you to noticed when they are popping up and hampering you moving forward towards financial independence.

The 2 mindsets

  • Scarcity – this mindset believes there is never enough. It can take the form of being afraid to spend or conversely spending everything “cause when its gone its gone”. Focusing on this way of thinking and essentially this fear based mindset breeds more scarcity.
  • Abundance – this mindset believes there will always be enough when you need it. It is being grateful for what is already present and for what is coming in the future. Focus on this mindset brings comfort and confidence in your financial position as well as the ability to learn more skills around the subject and ultimately have more money long term.

10 Limiting beliefs around money


  1. “Money is the root of all evil” – for the record “Evil” is the root of all evil. Money is a medium of exchange nothing more. If someone is a bad person money just gives them larger means to achieve bad things. It is just the same way that a good person has a large means to do good. This belief is the same as; ”money corrupts”, “money is dirty”. Money is a vehicle that can be used to effect change. Remove the emotiuon this injects to the subject to allow you more control.
  2. “The rich get richer and the poor get poorer” – this is an excuse just like “you need lots of money to get more money”. It stifles your ability to make your own money as you worry that might be at the expense of someone else. It is based in “money is finite” type belief.
  3. “Its selfish to want more money” – its difficult to achieve anything really great and help lots of people if you can’t feed yourself or your family and you are living pay check to pay check. Sure you can make a difference however small a donation or a gesture but if you stop limiting yourself with this mindset – how many people could you help? Does that still sound selfish?
  4. “I’m not good with money” – this is a story you’ve made up over time. It disempowers you from learning new skills. The reality is very few people were taught true financial literacy when we were young or even subsequently. Money management however can be learnt like any other skill.
  5. “My family have never been rich” – this once again is a story that is disempowering you from changing history and not learning the skills you need to move you forward into a different future. It is true that if you grew up with very little money you are more likely to hold limiting beliefs around money. There are countless stories of millionaires who grew up in poverty though.
  6. “It is selfish to want money“– much the same as “if I get rich I can’t be happy”. If you are a selfless person that is keen to make a difference and give back how much more mentally and financially available to the people most important to you and to the wider community and planet could you be with more money?
  7. “I can either make money or do what I love not both” – this misses one of the fundamental points about where money comes from. It comes from other people and flows to you proportional to your ability to solve people’s problems and provide a valuable service. If you can turn your passion into something others need and put in the work and make sure others know you will make money. If what you love is not a service to others, then making money especially passive income will allow you more time to do things you love.
  8. “Money is there to spend“– spending rather than saving and investing is the quickest way to loose money. It is an undeniable fact the more you save the more money you have.
  9. “You have to work really hard to get money” – solving other peoples problems and working out how to scale that might not be “easy” but living in debt unable to help yourself let alone others isn’t exactly a walk in the park. We are all capable of putting in effort when the requirement is great enough. Assuming it will be too hard before embarking on anything doesn’t set you up for success.
  10. “Money is not that important” – there are more important things in life. I agree but having enough to live on makes life much more manageable. Using this as a get-out-of-jail-free-card so that you don’t take control of your finances doesn’t create financial freedom in the longer term. Look at ordinary people who have won the lottery and then loose it all through spending. Not valuing the money you have now or that you might receive in the future is a long term disaster strategy.

So how can I move from scarcity to abundance?

Being aware of your own limiting beliefs around money is a big head start. If I’ve rattled you with any of my answers to these 10 most common then its likely you hold them. Examining them with cold hard logical removing the emotion attached is a start to moving forward.

In general there are lots of strategies for changing limiting beliefs around all kinds of things money included. Some will advocate examining each that you have and creating a positive affirmation that sounds right to you repeat this each time one comes up. “Money gives me the freedom to do the things that improve the quality of my life”. “I manage my money as when I do more comes my way” as a broad example of 2. On an aside it is preferable for affirmations to begin with “I am” and be in the present tense if you plan to use this strategy.

Did You Know I offer 1:1 coaching?

Having a money coach to help guide you really can make all the difference in creating a plan that is unique for you to create the abundance you desire. I can help you to literally "see the wood for the trees" and look at why your money is not doing what you need it to.


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Rewire Your Brain For Abundance

In my experience though taking that exercise a step further with one of the most powerful tools to change these types of belief and create money avatars.

  1. You would start by listing your own limiting money beliefs. Sit with a piece of paper and write down all the things that come to mind when you think of money – I imagine they’ll be more than the 10 I listed. Some will be variations on a theme and some individual to you.
  2. Create your first avatar! Lets take “Louise the broke Loser” for example. Louise represents all of your current thoughts around money, all the things you’d like to change, the worse version of those thoughts all rolled into one. She’s so bad with money she’d have spent Brewster’s millions in 2 hours (apologise to those born after the 1980’s for the reference).
  3. Create your second money avatar. Lets take “Abundance Annie, the financially secure badass”. She has an abundant mindset she believes money is infinite, she deserves to have money to use for the good of herself and others, she knows she is great with money and is always learning better ways to manage it. Money flows to her abundantly. Now Annie represents how you would like to act around money how you would like to take control of money – your “best money self” for want of a better description
  4. So when you feel a limiting belief rise up, or a familiar situation that might have you splurging or limiting yourself, you can say “Hey Louise, Annie’s in charge now” or “what would Annie do”.

So while Louise and Annie are both caricatures and I personally favour alliteration and exaggeration when employing this strategy to highlight the differences like day and night, I think you get what I mean. They exist to allow you choice. They allow you some mental distance from the old patterns that are hard wired into your brain giving to chance to create and “run in” new ones.

There’s a reason why many Christians wear WWJD (what would Jesus do) around their wrists it reminds them of their faith and commitment at a time that they could go into autopilot and run a behaviour program not congruent with the values they have decided to live by (please note while I believe religions have played there part in societal views on money and certain limiting beliefs I do not hold particular secular views and only use this as an illustration of this method in action).

So whether you go forward muttering “go away Louise” or not, I want to leave you with 2 facts about money that many of us either never learnt or have chosen to forget as we are caught up in our societal fuelled beliefs around money:

  1. Money comes from other people – offer a service, product or your time (employee/self employed) and you will receive money. The amount is often proportional to how big the problem you solve is or how many people you solve it for. For employees it can also represent how many other people have the skill set required to do your job.
  2. The more money you save the more money you will have. No matter how small it is save monthly.

The great news is you are in the right place to learn about financial literacy because no amount of identifying limiting beliefs and changing thought pathways in the brain will change anything if you don’t formulate an action plan around learning and taking control of your finances. For anyone wanting to explore the concepts in more depth (for they are not my own by the way, people way more experienced and smarter than me came up with them) I have included a few must read books and resources.

Enjoy rewiring your brain for abundance!

Claire x


Money – Rob Moore*

Rich Dad Poor Dad – Robert Kiosaki*

Secrets of a Millionaire Mind – Harv T Eker*

Related Article – Top 10 Money Mindset Books Written By Women

Web resources

Harv T Eker runs a number of free webinars about money and mindsets. Warning he swears a lot so not for those easily offended by strong language

Excellent blog around money mindsets- Daring To Live Fully

Final Thoughts

Wow! Did you enjoy that? Did you spot any limiting beliefs of your own? We ALL have them, so don’t think you’re weird if you have more than one (or all). And it doesn’t matter how much money you earn, the blocks always surface – and some will surface again and again and again as you earn more and improve your mindset.

“New Level, New Devil” – Denise Duffield-Thomas

We would love to hear from you, so don’t forget to send us your comments.

Until next time,




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2 years ago

Really well written post and I have definitely found myself having at least some of those scarcity thoughts in the past.

You will never be content if you always have the scarcity mindset as you view everything as a limited resource.

Abundance type people are typically happier and also share the love more.

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