What if your biggest obstacle to wealth is not your job situation, income, where you live, and certainly not your past? What if your biggest obstacle to wealth is yourself? In this article, I will share my own limiting beliefs and other common limiting beliefs about money that might stop you from achieving financial freedom.
Why are Limiting Beliefs Stopping Us from Achieving Financial Freedom?
What is it about limiting beliefs that hinder us from living our dreams? Essentially, common limiting beliefs about money are fears. Fear keeps us from growing, expanding and going into the unknown. It paralyzes us. Fear keeps us in the known because it signals that it might not be safe to leave the status quo, where we already perceive that we are safe.
To fear, the most important thing is that we are safe and predictable. So, if you want to stay where you are and not grow, it’s best to listen to your fears. But if you want to grow past your current perceived limitations, you should challenge your fear, unless it means jumping off a building, that’s just stupid and not recommended.
What are my limiting beliefs about money?
I will cover my limiting beliefs about money now, maybe we have the same ones?
1. I can’t afford it:
(One of the most common limiting beliefs about money i believe.) While growing up, I only lived with my mother for a long time, and our economy was highly constrained. I remember when I wanted something as a kid, most of the time I heard: ”No, you cannot have that, we can’t afford it”. This sounds reasonable and logical to say to a kid, but what does it teach?
It teaches limitation and that it’s not possible to get what you want, so you better stop desiring it. What would be a better approach? Certainly not using your last money to buy the kid what they want. It would be better to make plans for how we can afford it.
Sit down with your kid and make plans on how you can buy it, instead of denying the kid’s desire. What does that teach the kid? It teaches the child to make plans, to problem-solve, and to delay gratification. I don’t intend for this to be a guide on ”how to raise your kid”, but it’s examples of what happens to a lot of us when we grow up, and how our limiting beliefs are shaped at an early age. So, how can we change this belief? Instead of giving up when there is an obstacle and telling ourselves ”this is not possible’‘, let’s ask ourselves ”how can I make this possible?” Maybe it’s not possible right now, but I can make it work.
2. It’s too difficult/hard:
It’s too much work, or it’s too difficult to become financially independent. I’ve been a hardcore procrastinator as long as I can remember. I’m always last minute, and love to escape from thinking about things I need to do. When I had homework in school, I always did it the night before, when I needed to take the bus, and so on, I always had to run to the bus. Procrastination is something I’m working hard to overcome. How can we get past this limiting belief? We have to realize that whatever we need to do, we have to do it at some point, whether now or later, so it’s better to do it as early as possible, so we don’t have to spend mental energy worrying about it. The same with financial independence, if we know we want it, why not start working for that right now?
So that’s 2 very common limiting money beliefs that I’m aware of within myself, and I probably have more that I’m not even aware of. Do you recognize yourself in those limiting beliefs? Do you have other ones? Let’s explore a couple more.
3. I don’t have the opportunity:
You might think you can’t reach financial freedom. You might blame the economy, your parents, your government, etc. The fact is, there are a lot of people who came from nothing, from terrible circumstances, and still made it. Have a look at this guy:
Chris Gardner – From Homeless to Multi-Millionaire. You might know his story from the movie The Pursuit of Happyness (with Will Smith). In real life, Chris Gardner was a single father who spent nearly a year homeless, sleeping in shelters and even public restrooms while caring for his young son. Despite the odds, he worked tirelessly as a stockbroker intern with no salary, showing up every day and outperforming others. He eventually founded his brokerage firm, Gardner Rich & Co., and built serious wealth. Today, he’s a motivational speaker and philanthropist. Key lesson: Resilience and belief in yourself, even when everything seems stacked against you, can change your entire trajectory. How do we get over this limiting belief? Look up many stories about people who came from nothing until you believe it’s possible, and don’t wait too long to take action.
Here is a short interview with Chris Gardner: https://youtu.be/bo4hq4Fy02k?si=A9JfmSD1sLUVR0bU
4. I’m just not good with money:
Do you feel comfortable talking and thinking about money? Do you trust yourself to make good decisions with your economy? A lot of people are not. The good news is, being good with money is a skill, not a personality trait. So, it can be learned. How do we overcome this limiting belief? I think the best way is to start learning. Decide for yourself that you are going to master it. Read books, listen to audiobooks, and hang around other people who are better than you with money. Learn this skill like any other skill, and over time, you will prove to yourself that you can handle it.
5. It’s too late for me to start, so there is no point:
A lot of us think it’s too late to start. ”I already have a big student debt”, ”I’m too old”, etc. If you think it’s too late, then let me ask you this: Are you happy with your current situation?
If not, then where will you be in 10 years if you continue to do the same you have done up until now? Yes, you will be exactly where you are now, or very similar. So i know, it’s probably not ideal to start this late if you are a bit older, and yes, i know you wish you had started earlier, but you cannot do anything about the past.
The only thing you can change is your future. The path you choose today will determine where you will be in the future, so you better start taking the right path right now. How do we overcome this belief? Just look at this:
Meet Colonel Harland Sanders — The Man Who Started at 65
Most people know the white-suited figure behind KFC, but what they don’t know is that Harland Sanders didn’t find real success until his mid-60s. After decades of bouncing between odd jobs — from farmhand to gas station operator — he hit rock bottom at 65, living off a $105 Social Security check.
Instead of giving up, he packed his car with pressure cookers and his now-famous chicken recipe, then hit the road to pitch it to restaurants. He was rejected over 1,000 times, but eventually someone said yes. And that tiny win turned into one of the most recognizable food franchises in the world.
By the time he sold KFC in his 70s, it had over 600 locations, and Sanders became a multimillionaire.
🔥 He didn’t just start late — he won late.
And if he could do it from the trunk of his car at 65, there’s no reason you can’t start now.
6. Focusing on money is wrong and greedy:
In some cultures and backgrounds a lot of people have this belief that getting rich is morally wrong. How do we overcome this belief? By realizing that money itself is not wrong, but the wrong person might misuse it. Great people can do great things with money, and the wrong person could do terrible things with money. Just look at these 2 examples:
✅ Used Wealth for Good: Chuck Feeney – The Billionaire Who Gave It All Away
Chuck Feeney co-founded Duty Free Shoppers and quietly amassed a fortune of $8 billion. But instead of building a flashy lifestyle, he secretly gave nearly all of it away through his foundation, The Atlantic Philanthropies.
Feeney lived in a modest apartment, flew economy, and didn’t even own a car. He believed in “Giving While Living” — helping people while you’re still alive to see the impact.
By 2020, at age 89, he had intentionally gone broke — by design — after giving to causes like education, healthcare, and human rights around the world.
🔥 Wealth didn’t change him — he used it to change the world. It’s not to say that you have to give away everything to good things with money, but it’s one example.
❌ Misused Wealth: Jordan Belfort – The “Wolf of Wall Street”
Jordan Belfort made millions as a stockbroker in the ’90s through shady pump-and-dump schemes that scammed investors. He used his wealth for an over-the-top lifestyle: yachts, mansions, drugs, and wild parties.
But the law eventually caught up with him. He was convicted of fraud, served prison time, and had to pay back over $100 million in restitution to the victims of his schemes.
His story became a Hollywood film — The Wolf of Wall Street — a cautionary tale of how fast money and ego can spiral out of control.
⚠️ Wealth multiplied his worst instincts — and it nearly destroyed him.
So, now we have covered a lot of the most common limiting money beliefs. Hopefully you will change some of these limiting beliefs within yourself, if you recognize them in yourself. I would love to hear your feedback! What limiting beliefs are holding you back from achieving your dream life? Comment below!
Want something that is both entertaining and educational? Look at this post: https://freedomwithmarkus.com/?p=75
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