Are You Holding Toxic Money Beliefs?

Beliefs are axioms or facts that we follow as gospel truths, and if a belief can cause grievous harm to us or others, or if it can even destroy lives, then we can safely term it as ‘toxic’.

We can have toxic beliefs related to money too; I just want to point out one example, the ‘subprime crisis’ of 2007-08, which resulted from the ‘toxic beliefs’ of a select few on wall street that – ‘greed is good, and so earn money at any cost’.

This is just one example, but in reality, such beliefs plague us all in some form or other. And the sooner we get rid of them, the faster we will scoot to a more meaningful and happier life.

Today I want to share five of these toxic beliefs that poison our relationship with money and can be a hindrance to both financial freedom and holistic life experience.

1. I will be happy once I AM RICH

If you are waiting to attain happiness till a certain level of wealth, my friend, you are hoping to see pigs fly.

Don’t lose precious moments of life only chasing money while postponing happiness; with a little effort, you can have both simultaneously.

3. Between money and time, always choose money.

We often spend a disproportionate amount of time to save a few bucks; it is a hazardous attitude.

Saving money is good but overdoing is overkill; it deprives us of enjoying life for which we are really earning; after all, money can be earned, but time elapsed will never return.

4. Money is the most critical thing in life.

Money is a significant factor in having a dream life; having surplus money helps afford you an opulent lifestyle; however, it can’t deliver you a happy and fulfilling life.

More than money, it is people, health, relationships, passions or hobbies and a meaningful ‘purpose’ that have a role in your happiness and a holistic life experience.

5. There is no harm in borrowing money.

Debt within the serviceable limit is ok; however, people often indulge in all kinds of luxuries and try to inflate their lifestyle through borrowings – a cardinal sin.

Debt cuts both ways; overboard too much on it, and it has the power to quickly suck up all values and render the debtor bankrupt. Hence, use debt with caution and in absolute moderation.

Remember, the empowering beliefs and a positive relationship with money, coupled with the right mindset, will lay the firm foundations upon which you can build your ascent to financial freedom and satisfying life.

Is there any limiting belief regarding money in your mind that you can identify? Comment below.