Are your money beliefs holding you back? Could this be something rooted in your childhood? Or are you clinging to excuses?
An LNC told me the only LNCs who are successful are married to attorneys. I know about 3 LNCs who are married to attorneys. I know dozens who are not.
Challenge your money mindset. Let’s go!
Have you have tried to change your money beliefs and experienced resistance from your subconscious? The most likely cause is a rigid, inflexible mindset. That’s not something you consciously decided. It’s just that you’ve developed and embraced one way of handling finances, and you’ve done it that way for so many years, it’s hard to step sideways and try something else.
LNC Money Mindset Challenge
The Challenge for Changing a Money Mindset
Think of it like a runner running the same path, day after day. First, the grass gets worn down. Then there’s nothing but a thin ribbon of bare mud where the runner’s feet pass daily. Then grooves get worn into the ground, and it becomes harder and harder to vary that path. Finally, the runner needs to make a conscious effort to leap out of the grooves and breakthrough new grass, which has grown tall all around the path, from never being run on.
That is what happens to our minds when we repeat the same thought over and over again or perform the same action the same way. Psychologists explain it by saying we have hard-wired patterns in our brain, and it takes tremendous effort, consciousness, and commitment, along with daily repetitions, to break that and create a new habit.
How does this manifest when it comes to money habits and beliefs? First, you find you can’t get past that negative, self-defeating mantra. Then, your conscious mind sees that it’s a faulty and ineffective method. Childhood mantras are particularly hard to transform because they’re ingrained and impressed into our psyches.
Any good psychologist will tell you it’s never a question of being stuck between a rock and a hard place. Instead, it’s a question of looking for alternate exits that consist of neither and making the conscious decision to try them.
Overcome the Old Money Mindset
How do you tackle any challenge? By leaving the easy paths and trail-blazing new ones. Sometimes exciting to do and occasionally frightening, or even just a nuisance to remember to try.
It’s not a question of jumping out of the frying pan into the fire. It’s a question of not stepping into the frying pan the next time someone holds it out in front of you.
In other words, it’s not just about changing your money beliefs. It’s about changing your responses to money matters and decisions and doing this consciously, noting the results, and repeating new reactions, mantras, or habits until they become your new normal.
It would help if you had a targeted goal and plan to face any money mindset challenges. Then, every day, commit that you will take at least one step toward improving how you understand and handle money. Otherwise, you will find yourself quickly falling back into unhealthy financial habits.
So take a look in the mirror and ask if your mindset is holding you back.
Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs in obtaining more clients, making more money, and achieving their business goals and dreams.
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