Do you feel like your money beliefs are holding you back? In this blog, learn all about overcoming negative money patterns to unlock your full financial destiny.

Let’s talk about the power of money in our lives. Money can dictate our daily thoughts, actions, and behaviors. However, overcoming disempowering money patterns lodged within our unconscious can uplift our financial growth and stability. These patterns can stem from childhood experiences, societal influences, or even our own limiting beliefs. 

In this article, I will explore various solutions to overcoming your disempowering money patterns to create a healthier relationship with money.

Understanding Money Patterns

Before we can overcome our disempowering money patterns, we must first understand what they are. Money patterns are ingrained ways of thinking and behaving that we have developed over time about money. These patterns can be positive or negative, and they often stem from our past experiences and beliefs. For example, if you grew up in a household where money was scarce, you may have developed a pattern of scarcity and fear around money. On the other hand, if you were raised in a household where money was abundant, you may have developed a pattern of overspending and not valuing money.

Discussing money matters does have a significant impact on how young adults navigate their financial well-being and independence. Research suggests that direct communication about work and finances with parents fosters the development of economic self-efficacy, which is positively associated with financial independence in early adulthood. Family socialization and communication play a crucial role in shaping young adults’ attitudes and behaviors toward financial independence¹. 

For instance, we have also felt shame for budgeting or not spending too much.  We all know rich people who don’t like to spend heavily. This gives the image of quiet wealth, when it may only be them being financially disciplined and choosing not to spend much despite having the privilege of purchasing random costly things. 

Budgeting can be a sustainable financial activity, even if it’s out of necessity, and you don’t have to feel ashamed about it. While it may seem easier said than done, exercising self-compassion when it comes to exploring your finances is the secret. 

Identifying Your Money Patterns

The first step in overcoming disempowering money patterns is to identify them. Take some time to reflect on your thoughts and behaviors around money. Do you tend to overspend, or feel self-conscious about spending money on necessity, and might have a fear of not having enough money? These are all examples of disempowering money patterns. You can also look at your past experiences and beliefs to identify where these patterns originated.

Acknowledging your money patterns may cause feelings of shame, guilt, or regret. However, you can use these emotions as a guide for financial discernment. By learning from our experiences, we will be able to let go of disempowering money patterns that no longer serve us. 

Changing Your Money Mindset

Once you have identified your disempowering money patterns, it’s time to start changing your money mindset. This involves shifting your thoughts and beliefs around money to more positive and empowering ones. 

To have a healthy and holistic relationship with money, will require deliberate and consistent effort. While letting go of your deep-seated, disempowering money patterns may not be easy, it can surely be freeing. 

At times, we may also hold onto our money patterns because they feel so familiar. Do notice when such resistance arises within you. Know that change is a constant phenomenon, of life and as you adopt new money scripts, they’ll help you in overcoming those money patterns.  

For example, if you have a pattern of scarcity, you can start practicing gratitude for the money you do have and focusing on abundance rather than lack. You can also challenge your limiting beliefs about money and replace them with more empowering ones.

Creating New Money Habits

As you begin to adapt to a new money mindset, you can take the next step to overcoming such money patterns. Creating new money habits will be your guide. This can involve setting a budget, tracking your expenses, creating a savings plan, investing in your financial knowledge, and talking about finances with your support group. 

You can build a simple daily or weekly money habit map to really develop and be consistent with following a new financial routine. 

By creating new habits, you are actively working towards a healthier relationship with money and breaking free from old patterns. While the process may seem daunting at first, it surely will be your new normal through consistent effort. 

Seeking Professional Help

If you find that you are struggling in overcoming disempowering money patterns on your own, it may be helpful to seek professional help. A financial coach or therapist can provide guidance and support as you work towards creating a healthier relationship with money. They can also help you identify and address any underlying issues that may be contributing to your patterns.

Disempowering money patterns can hold us back from achieving financial success and stability. As you take your time to understand these patterns, make changes to your money mindset, create new habits, or even feel like seeking professional help, the process may get easier. Remember, breaking free from these patterns takes time and effort, but the end result will be a more empowered and fulfilling life.

1. Research data cited from Jennifer, C., et al. Longitudinal and Life Course Studies 1 No. 1, 2009. ↩︎

Everything from short actionable tips to insightful long-form content, personally put together by me to break your negative money patterns and master your finances. 🦸🏻‍♀️

Partha Iyengar