Embracing Change: Are You Arguing For Your Limitations?

Welcome to this edition of The Self Wealth Project newsletter, where we delve into the profound connection between our financial behaviours and personal growth.

It’s often said that the first step towards change is awareness. But what happens when our awareness highlights habits we’d rather not face?

I recently had a conversation that beautifully illustrates this point:

Me: How often do you talk about money??

Man: Often, too often with my bank manager! I spend too much money and he tells me off. (he laughs)

Me: What do you spend your money on??

Man: Going to the pub. I spend about X per week which is way too much. I should be married with kids but I keep going down the pub and spending my money on drinks and takeaways. (he laughs)

Me: Would you like to change that??

Man: No, I love it. I have always been crap with money and will be forever I reckon. (he laughs)

Me: So, what if I told you that I could help you change??

Man: Naa not interested.?

Me: Who are you most like when it comes to money??

Man: Aaah well that is interesting. My dad lives in a million-pound house and my mum lives in a council house on benefits.?

Me: Who are you most like??

Man: Mum.?

Me: Where do you see yourself in 5 years' time??

Man: Like mum, I guess.?

Me: Who would you most like to be like??

Man: Well, Dad.?

Me: OK, so what happens now??

Man: I had better have a think, I reckon.

The man walked away.?

This chat is a powerful reminder that many of us argue for our limitations without realising it, holding onto beliefs and behaviours that don't serve our ultimate goals. It's comfortable to stay in known territories, even if they are not where we want to be.

Here are 5 other ways I have often heard people arguing for their limitations when it comes to money – and their antidotes:?

1. "I'm just not a numbers person." - ?Many believe they lack the innate ability or intelligence to understand finances, leading them to avoid financial planning or investing.

Antidote: Cultivate a growth mindset: Replace the belief that you're "not a numbers person" with the understanding that financial literacy is a skill that can be developed with practice and learning.

1. "I don't have enough money to invest." - This belief prevents people from exploring ways to save and invest, even in small amounts, because they feel their current financial situation is too restrictive.

Antidote: Start small: Instead of thinking that you don't have enough money to invest, begin by setting aside a small amount each month to build your savings and explore investment options that fit your spending plan.

1. "I'm too old to learn about money." - Older adults might assume that it's too late for them to develop financial literacy skills or change their financial habits, limiting their potential for growth and security.

Antidote: Embrace lifelong learning: Challenge the belief that you're too old to learn about money by seeking resources, classes, or workshops on financial management and planning. It's never too late to gain knowledge and improve your financial situation. A money coach can help you too!

1. "I don't deserve to be wealthy." - Many individuals hold negative beliefs about their self-worth or value, leading them to believe that financial success is unattainable or undeserved.

Antidote: Practice self-compassion: Work on building self-esteem and self-worth by recognising your strengths and accomplishments, and by challenging negative self-talk. This will help shift the belief that you don't deserve financial success.?

1. "Money is the root of all evil." - This common often leads many of us to view money as inherently negative or dangerous, causing us to avoid seeking financial stability or growth.

1. Antidote: View money as a tool: Instead of seeing money as inherently evil, try to see it as a neutral tool that can be used for good or bad purposes.? One of my favourite quotes is by Ayn Rand – “Money is just a tool.? It will take you wherever you wish to go but it will not replace you as the driver” – you decide how you want to drive your money life. Learn to drive it like a pro!

?These examples demonstrate how arguing for limitations can create barriers to financial success and well-being – essentially your Self Wealth.

Recognising these patterns is the first step. Once we see them, we can choose to challenge them, setting the stage for real change.

So, I pose the question to you: Do you argue for your limitations? It’s a tough question but acknowledging it can be the gateway to transformative growth.

Let’s explore this together and support one another in breaking free from self-imposed boundaries.

Change is not only possible; it’s within reach if you decide to take that first conscious step. I’m here to help you navigate this journey, to move from limitation to liberation. Together, we can redefine our relationships with money, unlocking a path to financial and personal fulfilment.

This is more than just money management—it’s about crafting a life of abundance and joy. And remember, it’s never too late to alter the course of your story. Let's make it count.

Stay inspired,?

Fanny Snaith

Take Control, Love your Money, Love Your Life.

PS: My Money Makeover – the 8-week online group programme for those wanting to master their money mindset whilst also learning all the practical skills needed to build wealth starts on 30th May 2024.? All the tools you need, weekly calls, WhatsApp group support and a small, private learning environment.? The investment is just ￡499.

You can register your interest by clicking here:? https://bit.ly/MMMWaitList