In this guest article written by Emma Jones – a clinical hypnotherapist, psychotherapist, and Master NLP practitioner – you can read more about mindset and money, and how gaining clarity in your thinking can positively impact your financial wellbeing.
Over to you, Emma…
Money: we all need it, we use it every day and often think about how we can get more of it.
Yet despite its regular use in our daily lives, it’s also a subject that some avoid talking about and it can evoke deep-rooted anxiety, severe enough to impact your daily life.
As with many behaviours and beliefs, our attitudes to money are created as a child and learned from parents or caregivers.
This may seem odd when you consider that young children do not manage money. However, they listen to their parents discussing money or notice them avoiding such discussions.
You may have grown up in poverty, transitioned from wealth to hardship, or experienced the reverse. There are many reasons behind the creation of behaviours or beliefs, and this may include the belief that a lack of money is something to be feared. The mind repeats these learned behaviours or beliefs into adulthood, even if they stop being useful.
Many people do not know how to manage their finances, including how to budget. Money provides security, food, and the basics we need to survive.
A lack of knowledge of how to deal with finances combined with knowing and fearing the impact of not sorting it out can cause anxiety, which for some can be extreme.
Anxiety is an important emotion. As with all emotions, they are messages from the mind that tell you something needs attention. If these messages are ignored, they get louder.
Anxiety is a natural part of our survival instinct, and when we feel threatened, it takes control, often reverting to past behaviours that helped us cope. In money matters, this can manifest as avoidance – falling into the “freeze” response of the fight, flight, or freeze survival mechanism, where we ignore financial issues instead of addressing them.
However, if you bury your head in the sand for too long… you get your bottom burnt.
Anxiety also releases hormones such as adrenaline and cortisol to prepare you to either fight or fly. Essentially, the chemical responses within the mind are the same as the ones that would happen if you came face to face with a wild animal.
The reaction can shut off the frontal lobes of the brain, which stops you from being able to make decisions or be creative and look for solutions. It can only see a single point of view – often the worst-case scenario.
This is why receiving an unexpected bill can instantly trigger thoughts of extreme outcomes, like imagining yourself homeless within seconds. This kind of thinking is unproductive and hinders your ability to focus on finding a solution.
In addition to how the mind reacts while anxious, limiting beliefs about money can also play a part. A limiting belief linked to money could be, “I’m not worthy of earning much”, “I can’t earn more than my parents”, or “I can’t manage my money”.
Whatever the limiting belief is, it could hold you back from earning more or taking steps to manage your money in a way that works for you. It may even prevent you from reaching out for help to understand or invest your money in your future, such as by paying into a pension.
Tips to improve your mindset
What do you want?
Be realistic about your current situation. For example, wanting to be a millionaire is a great end goal and is possible, but you have to be prepared to do the work to achieve this and it won’t happen overnight.
Perhaps start by saying, “I want to know how to manage my money”.
How will this make you feel? What difference will it make to your life?
Set a deadline for when you will have achieved this first step and decide how you will celebrate and reward yourself.
Challenge those limiting beliefs, negative thoughts, or feelings
Challenge your negative or limiting thoughts by saying your name followed by the word “stop” out loud.
For example, “Emma STOP”.
This brings your mind into the present moment, which is where you have control. Then, tell yourself what you want instead.
For example, “I want to be in control, I want to be calm, I am capable, I am worthy of the future I chose”.
Repetition is key here, as your mind will want to slip back to its old default beliefs and self-talk. The more you challenge them the more control you have. Make what you want your default.
You are seeking the right support to manage your wealth, do the same for your mindset health, and then you can build a better future for yourself.
To make those important changes in your life and take that first crucial step, get in touch.
Email me at emma@mshypnotherapyandwellbeing.co.uk or call me on 07806 560834.
www.mshypnotherapyandwellbeing.co.uk
Facebook and Instagram – @mshypno
Approved by Best Practice IFA Group Limited on 18/10/2024.