Can Negative Self-Talk Destroy Your Financial Future?

Can Negative Self-Talk Destroy Your Financial Future?

“I’m no good with money.”

“I hate budgets”

“I’ll never be able to earn 6-figures.” 

“No-one will pay if I increase my day rate or prices.”

“My industry doesn’t pay that sort of wages”

“Higher pay = more stress”

If you’ve ever said any of these statements out loud — or even in your head— then you’re engaging in a damaging habit known as negative self-talk. By telling yourself these lies (and yes, they are lies) you’re re-enforcing the beliefs that go along with them. 

What you focus on, becomes your truth.

Tell yourself that you’re no good with money, and you won’t be. Believe that budgets are horrible chores, and you’ll resist creating one. Convince yourself that you can’t earn a 6-figure income, and you won’t. Even if saying “I don’t care about money” can be detrimental to your income levels.

It’s not “the secret.” It’s a scientific fact. Known as a self-fulfilling prophecy, this kind of self-talk results in poor performance simply because we act as if it’s already true. 

If you tell yourself that you’ll never be a 6-figure earner, you will not do the things that 6-figure business owners do. You won’t work to grow your mailing list (“No one reads my email newsletters anyway”), you won’t increase your day rates (“No-one will pay those prices”), and you won’t build a brand worthy of a 6-figure income (“I can’t afford to spend money on my website”). 

“I’m not worthy” versus “I’m worth investing in”

If you act and think as if you already are a making 6-figures, you’ll approach your business quite differently. Your confidence level will increase. You’ll present a very different brand to your prospective clients. You’ll go out of your way to connect with those who can and will afford to pay your higher rates. 

How to Combat Negative Self Talk

The first step toward changing your negative self-talk is to simply acknowledge that you do it. Tick a mental checkbox every time you catch yourself making negative statements, whether out loud or in your head. 

Make a note of the ones that come up most often for you, and identify their origin if you can. For example, if your ex or parent continually told you off for your spending habits, chances are your “I’m no good with money” mantra comes from them. It’s time to turn that thinking around. 

The next time you catch yourself saying “I’m no good with money,” take a minute to recall 5 instances where you were good with money. Maybe you paid off a credit card or loan or saved for a big purchase or built an emergency fund. Rephrase your self-talk to, “I make smart choices to achieve my goals.” Or start by trying out: 

“I love money and money loves me”. 

Just as negative self-talk becomes a self-fulfilling prophecy, so does positive self-talk. Reframe your thinking, and your finances will definitely improve.

If looking at your money blocks sounds daunting, or you don’t know where to start, contact me now for a one-to-one session. We can discuss how your money mindset can be reframed, keep you focused on your next steps; and why taking action is so important for your future.