Top 14 Limiting Beliefs About Money (+How to overcome them)

If you’re facing limiting beliefs about money while building your business, you’re in the right place.

Today, I’ll show you how to overcome the most common limiting beliefs.

Ready to get started? 

Let’s go!

1. Is it really possible? 

Listen: It’s hard to fully believe you can succeed.

But if you constantly wonder if success is possible, you start looking for proof that it is and isn’t.

When you’re in that mindset, you’ll start to doubt yourself at the first sign of struggle and eventually convince yourself you can’t do it.

So, how do you let go of this limiting belief?

The “trick” to overcome limiting beliefs, including this one, is that you have to first believe something before you can make it happen.

So if you REALLY want to increase your income, you’ve got to choose to believe wholeheartedly in the fact that it’s going to happen for you.

Then, focus only on the proof that supports that belief, and put the blinders on to any proof that doesn’t support it.

You can take those blinders off AFTER you’ve reached your goal.

2. Money is hard to make

Growing up, money was hard for my family to make. We never went on vacation, and never even went out to the movies or to dinner.

When I got my first corporate salary, my parents even said I didn’t deserve to earn that much.

These kinds of limiting beliefs about money make you feel guilty for making it at all.

How do you let go of it?

The truth is, this is among the hardest limiting beliefs about money to let go of. Especially if you’ve believed it your entire life like I did!

Here’s what worked for me:

• I started researching how wealthy people think about money 
• I read self-help books like The Science of Getting Rich
• I also listed my limiting beliefs about money and worked through each item. 

To this day, I still go back over this list frequently, and I highly recommend it to everyone.

3. Once I get…I’ll finally have proven…

I used to think things like, “Once I get my tenth client, I’ll finally have proven I can be successful.” But trying to do one thing just to prove another is one of the most limiting beliefs about money.

Why? 

Because it creates a toxic cycle of failure.

How do you let go of this limiting belief?

Call it what it is: Imposter syndrome.

Early on, rejection reinforced the idea that I wasn’t worthy of success.

But when I put a name to that belief, I was able to recognize my self-worth and stop relying on my results to prove it. 

That shift completely changed how I did business (and got me clients even faster).

Speaking of imposter syndrome…

4. I’m an imposter and don’t deserve it

Imposter syndrome is when you feel like a fraud and doubt your abilities, even when you’ve achieved success.

And it’s really damaging to your business.

Because when you doubt yourself, even when you know you can do it, you miss great opportunities and limit your potential. 

How do you let go of this limiting belief?

I worked to let go of my imposter syndrome by doing three things:

• Using a pros and cons list
• Understanding where my imposter syndrome came from
• Listening to my intuition

I’ll walk you through how to use these exercises in this guide.

Or you can watch this video instead:

Now, let’s talk about luck.

5. I’m not lucky or born into money 

As a child, I didn’t know entrepreneurship was a thing. 

I thought the only way to get rich was to be born into money, get lucky, or have the right skills.

That’s why I worked so hard despite being unhappy in my corporate job.

How do you let go of this limiting belief?

Well, as the saying goes, luck is better than skill.

But timing is more important than either. Seriously – it’s the number one factor for determining a startup’s success!

So, focus on the trends in your industry, the world, and what people want.

Hear more in this video:

6. I will eventually lose my money and business

I get it. The possibility of failure is scary.

When I started my first business, I was so afraid of failing I almost didn’t try at all.

But I’d never be where I am today if I’d let it hold me back.

How do you let go of this limiting belief?

Here’s the truth.

You will fail – all entrepreneurs have. It’s part of the journey.

You just have to change how you look at it.

Here are some steps to get you started:

• Stop seeing failure as an endpoint
• Ask yourself what’s the worst that could happen
• Remove the emotion

Want more? I talk more about overcoming the fear of failure to start your business in this video:

7. Others have it easier than me

This is one of the easiest limiting beliefs about money you can fall into.

Why?

Because it’s easier to see someone else’s “highlight reel” than their “behind the scenes.”

You see what they’ve done and think it was easy for them to do (or they were just lucky).

How do you let go of this limiting belief?

Remember that you’re only seeing someone’s success, not the challenges they faced along the way or are likely still facing. Everyone deals with them, no matter how successful they are. 

So, focus on your journey and accomplishments instead of comparing yourself to others. Consider how they might’ve overcome their problems, and use that as inspiration to overcome yours.

Then, start tackling the next limiting belief about money to overcome even more.

8. Being rich makes me a bad person

Growing up, I had a wealthy relative who bent the rules to make money and turned his back on his family.

So, I grew up thinking rich people were bad.

But to be successful, you have to change that narrative.

How do you let go of this limiting belief?

For me, it was a matter of believing good people make good money by providing good value and then using that money in good ways. Because how you make your money and what you do with it are up to you. 

And once I overcame my discomfort with that idea, I got my first paying client!

This leads us to the next limiting belief about money.

9. I’m not succeeding fast enough

I see it all the time.

New entrepreneurs fall into the trap of believing they’re falling behind. 

But here’s the thing: Success continually evolves.

If you don’t change your mindset, you’ll always feel like you’re not as successful as you should be.

How do you let go of this limiting belief?

You have to adopt a growth and success mindset.

Instead of thinking you’re not succeeding quickly enough, remind yourself that progress is never-ending and focus only on what needs to be done right now.

Hear more in this video:

10. I know everything about money already 

Of all the limiting beliefs about money, this is the most naive.

Here’s the thing:

We can never know everything about money.

And if you think you do, you won’t be nearly as successful.

How do you let go of this limiting belief?

By being obsessed with your business, even a little bit.

Why?

Because obsession turns into consistency.

And the people who build their business the fastest show up consistently, even if they’re tired or distracted. 

When I started my business, I was working full-time. I was exhausted at the end of the day and wanted to relax. Instead, I worked day in and day out (and on weekends).

And that’s what allowed me to scale to six figures as a new entrepreneur. 

11. I don’t deserve to be wealthy 

This is another limiting belief about money I had to work hard to overcome.

It was all about shifting my mindset.

I realized that “good” and “bad” people make money, but that doesn’t determine their value.

How do you let go of this limiting belief?

By focusing on your product’s value and positioning it as a solution to a problem.

When your clients feel good about your offer, you can make more sales at the price you want.

And I say…

👋High five to that.👋

I’ll teach you how to use the Value Prism to do just that in this video:

12. If I win, someone else loses 

For some people, earning money is a double-edged sword.

They think if they make more, there’s less for others to make.

And if someone else makes more, there’s less for them to make.

But it’s not true.

How do you let go of this limiting belief?

By not worrying about what other people are or aren’t earning, especially if they’re further ahead than you are.

Because the truth is, you’re not competing with them!

There is a time and place for everyone. You are where you’re supposed to be, and that’s perfect for the people you’re going to help now and in the future.

They need someone like you, not someone who’s farther ahead.

I’ll talk more about this mindset shift in this video:

13. Making money is selfish 

One of the most frustrating limiting beliefs people have about money is earning it means you don’t appreciate what you have. Or that you’re just in it for the money.

But neither is true.

How do you let go of this limiting belief?

By focusing on creating value equal to or greater than what you want to make.

Because making money isn’t just about you – you’re making money because you’re creating value for others! 

And if you stop yourself from making money, you lose your chance to positively impact their lives.

Then everyone loses.

14. There’s a limit to how much I can make

Early on, I saw courses promising to show me how to earn an extra few hundred dollars each month. But I wasn’t going to quit my job just to make a limited amount of money.

And I didn’t have to!

Because there is no limit.

How do you let go of this limiting belief?

Reverse-engineering your financial goals will show you how easy it is to make more than you ever thought possible.

Let’s say I was an online course creator who wanted to make $20,000 a month. If my course was $2,000, I’d have to sell ten to do it.

And from there, I’d have to determine how many people I’d need to get in front of to land ten qualified leads.

I explain it all in this video:

Next steps

There you have it – a complete guide to overcoming limiting beliefs about money.

You can reframe your money mindset and build a successful business at the same time.

I’ve done it, and so have hundreds of my students.

I’ll walk you through it, step-by-step, in my FREE blueprint:

Read more:

Characteristics of Successful Entrepreneurs You WILL Need

Limiting Beliefs Holding You Back as an Entrepreneur

Great Ways to Create Consistent Income