Are You Telling Yourself These? 16 Lies Keeping You Poor

Are You Telling Yourself These_ 16 Lies Keeping You Poor, how to earn more money tips and hacks, personal finance advice to get out of debt and reach financial goals, personal finances advice that’ll make you rich get out of debt and reach your savings goals to start investing your money, personal financial advice for women and beginners in 20s or 40s, money mindset, #personalfinance, #personalfinances, #moneystuff, #moneymindset, #frugalliving, #getoutofdebt

This post is sponsored by Lexington Law, thank you for supporting brands who support TCM. As always, all thoughts, opinions, experience, and advice are my own.

I don't think any of us as kids ever thought, “when I grow up, I want to be poor!” In fact, I'm sure we all dreamt of big houses with loads of snacks and riches galore! So what happens from our dreams as a kid to our broke bank account as adults? Well… a lot. But the biggest one of all is our mindset. Our mindset and limiting beliefs shape our financial reality SO much. The more we stay stuck in the lies we keep telling ourselves, the more we stay stuck being poor.

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16 Lies Keeping You Poor

Money is the root of all evil

Likely something we picked up from our parents or movies growing up, but too often we see the wealthiest folks playing the villain. What that's taught us subconsciously is that money is evil. “The rich get richer, the poor get poorer,” they say. So it's easy if you're not falling into the “rich” camp to blame the rich for all that's wrong in the world. Historically, we've seen how money is used to wield power and an agenda that hurts the masses – why? Because drama and scandal sell.

Stop buying into this lie and realize that when you're wealthy, you can do that much more good. That money isn't evil, it's just a select group of people have chosen to do with their money doesn't align with your morals and values.

I wasn't raised like that

They say our view of success is determined by the five people we spend the most time with. Which makes it easy for most of us to look at people like the Kardashians and roll our eyes at their lavish life. After all, we weren't raised like that. It's easy to judge people who seem to have more than us, but the reality is, we are lowering our ability to hold more money in our energy field when we hold onto those judgements.

If the five people you spend the most time with are very middle class, it's likely creating a limiting belief in you that you aren't worthy of being upper class. That you don't know anyone else this is possible for, so it isn't possible for you. Or maybe you do know someone who up leveled their wealth, but you saw how others judged them, so you internalized a fear that limits your true desire to be wealthy because you'll be judged. When it comes to your personal wealth, you need to drop the groupthink.

Side note: groupthink is a psychology term defined as “the practice of thinking or making decisions as a group in a way that discourages creativity or individual responsibility”

They won't give me the raise [or pay my higher rates]

How many of us count our selves out of the race before we even get started? ??‍♀️

Nope, not a lot of hands up? That's cool… I've found this to be true for most people – but they don't realize they're doing it!

You see, for a lot of people when they ask for a raise – or up their rates – they come from a very emotional place. I can't even tell you how many times I've heard stories that go like this, “I need a raise because my family needs the money,” or “I'm upping my rates because that's what others are doing and I really need the money to pay my rent.”

And then guess what happens? They don't get the raise or no one signs up at the higher price point which leads to further belief of the lie “they won't give me a raise [or pay my higher rates.]” It becomes a self fulfilling prophecy. However if you can shift from an emotional or sheep mentality and focus on your worth you can stop buying into this life. When you ask for more from a place of logic and value I bet you'll get the raise more often than you think. And if you don't, I bet you can find a new job that will pay you it.

I don't have any money

Let me be the first to say this can be true, however more times than not, it's a lie. If you look around you in this very moment, there's money. Whatever device you're reading this article on is money. The clothes in your closet, furniture in your home, that's all money. If you truly have zero dollars in your bank account, then look at your stuff and figure out what you can liquidate to create money.

Ask yourself, “what skills do I have that I can monetize and create money from?” Do you notice I keep saying create money? That's because you are the ultimate creator. If you keep telling yourself you don't have any money, then you never will. If you believe in energy and the law of attraction, which I totally do, then you know that every time you say this statement you're literally repelling the very thing you want. Instead focus on all that you do have or can create money from.

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I can't afford that

You can afford anything you want in life, it just may be on a different timeline than you want. Every choice you make comes back to your personal values and priorities. If you are constantly saying you can't afford the house, shoes, or food (or whatever) you want, then you'll never be able to. But when you reframe and realize you can afford it, you just need to make different choices, things can shift. That may mean stop making impulse purchases in the discount section of your favorite store, and save that money up to work with the professionals at Lexington Law to help you reach your financial goals. Lexington Law can help you repair your credit and provide tools for monitoring your credit reports. Or maybe it means looking for a new job that will actually pay you based off your value rather than market rates.

No one taught me this

Ignorance is not an excuse for being poor. Sure, we didn't have a class in school on it, but let’s be honest, how many of us would've payed attention anyway? No one taught me how to set up my IRA or rollover my 401k, but I did it. If this is the lie you keep telling yourself, then congratulations! It's the easiest one to take action on. Just read any of these:

What Is A Good Credit Score? & The 5 Factors That Make It Up!

How Credit Impacts Your Life & What You Can Do About It

10 Money Myths You Need To Forget ASAP

Can Student Loans Actually Be Forgiven? [+ 10 More Student Loan Questions Answered]

Battle of the cards: Credit vs Debit vs Prepaid vs Secured [Which Is Right For You!]

How To *Actually* Budget Using The 50/20/30 Guideline

How To Repay Debt [2 Strategies To Change The Game]

Anddd if you are a parent or teacher, I'd highly recommend starting to teach your kids financial literacy with these 6 tips from Lexington Law!

Money is guaranteed if you work hard

Nope nope nope. Some of the hardest workers I know are barely scraping by, and the ones who make the most money? Well they can be seen on golf courses or taking four hour lunches every day. You can be the best employee in the world but if you can't speak to your value and communicate it to others, you're likely underpaid and undervalued. Breaking free of being poor means you're working smarter, not harder.

If I just have more money, my problems will be solved

Oh if only this were true! The reality is for most people, mo' money = mo' problems! Most people inflate their lifestyle expenses as their income increases, making this a vicious cyclical belief. You need the skills to manage more money in order to break free from feeling/being poor. It's helpful to figure out where things are breaking down in your financial actions, repair your credit with the help of the professionals at Lexington Law , and live below your means going forward.

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I shouldn't have to have multiple jobs

Why? Because you think you're better than that? I'll never forget when I had my 9-5 and was still waitressing on the side. My boss found out and said to me, “are we not paying you enough?!” Like the fact I had multiple jobs was something to be embarrassed or ashamed of. Yes, I was getting paid enough from my 9-5 that I didn't need my waitressing job to pay the bills, but I wanted my waitressing job. Working that one shift a week, I'd earn more than $5K extra a year!
I had the time and energy, so of course I was going to work multiple jobs. I humbly laughed my way to the bank.

And guess what? That emergency fund I built up from having multiple jobs, is the exact emergency fund that carried me through from my 9-5 to self sustaining entrepreneur. Today, there are so many jobs that can be done from anywhere, we all have the opportunity to have a second job if we want it. I remember my dad selling septic tanks via telesales while working on his company. There's no shame in the hustle, only shame in thinking you're better than the hustle.

Your home is an asset

Whether you're a homeowner yet or not, it's important to know your home is a liability. If it's not a rental property generating a profit, it's a liability. You have no control over what is going to break, what will happen to market values, and so on. You can spend $100k on a renovation but people may only want to pay you $50k more than what you paid because the renovation isn't in their taste.

At the end of the day, you aren't guaranteed to get your money back that you've put into the house in anyway shape or form. After all, think about the fast food chain we all know is really a real estate company. They didn't just buy the land off of highway exits and sit on it. Nope, they found a cost-effective way to churn a profit from those properties until the land appreciated enough that it made sense to sell. If you are looking to buy, check out this article on your credit history and the mortgage process!

It's better to own than rent

Yes, owning has its perks, namely in stability, however every problem is on your shoulders as the owner. Like we just talked about, if it's not generating a profit, it's a liability. Renting isn't throwing away money either. You need somewhere to lay your head. You don't look at the money you spend on groceries as money thrown away, do you? Nope. It's a need. You may be better off investing the money you're saving on emergency repairs as a renter instead of the owner.

I can't afford to invest my money

You can open an IRA for as little as $50. Unless you are in debt, you can and should be investing. Once you are out of debt, you can and should be investing. Again, that word “afford” comes down to your personal choices and priorities. If you keep telling yourself you can't afford to invest, it's easy to have no money left over at the end of each month to support that lie. However, if you shift your priorities and the lie you're telling yourself, you realize that maybe you don't need another swimsuit for summer and that money would be better invested. If you're avoiding investing because you feel scammed or overwhelmed, check out this article on how to avoid an investment scam from Lexington Law.

If I'm approved for a loan, I can afford it

Just because someone is willing to give you a loan doesn't mean you should take it! We went through this with our house. With our down payment, we could've qualified for a much higher mortgage, and in turn, much more expensive house. However we knew what we wanted our cost of living to be each month, so instead of going all out on what we could get a mortgage for, we opted for what we could actually afford each month. By keeping our monthly cost of living below our means, we are able to plan for renovations, retirement, and other projects with our money.

I deserve this ______

Emotional spending is a very real thing and likely keeping you poor. Yes, you deserve a break in life, that's not a lie, however not at the expense of causing yourself more harm. Find other ways to reward yourself that don't involve spending money. Or if you do want to splurge on something, set it up over the course of a longer term reward system. Meaning once you've saved X dollars you can spend 1% of it on whatever you want as a reward because you planned for it. Not that you had a bad day and are splurging on this item to make yourself feel better. That high will only last so long before the bitter taste of regret does.

I have to lend so & so money because they are family or a friend

REAL TALK: If you lend money to a friend or family member, just count that money out. Get in the mindset that it's never coming back to you. It's not a loan, it's a gift. If you keep playing Daddy Warbucks to the people in your life, you will stay poor – or at least feel that way. Yes, more money means you have more to be altruistic with, however at what cost? If this is causing you a financial or emotional burden, then you need to stop. You don't owe anyone anything. Just because they are a family member or friend of yours doesn't mean they are entitled to your money either.

I don't need help, I got this.

If you keep waiting for the magical wand to waive itself over your bank account and fix all your problems, stop. It's not going to happen. You need to change. If you're too close to the situation, that's okay. Ask for help. Ask for feedback and hard truths from people you trust. Pride will not cure your financial situation. Humility will help it though. Put together a strategy to repay your debt, work with professionals at Lexington Law for help repairing your credit, and start building the financial future you want.


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13 Ways To Celebrate Summer Without Breaking The Bank + How To Splurge *Smartly*

8 Ways To Stop Feeling Broke

How To Do A No-Spend Challenge [+ Why You Need One ASAP]


List of 16 Lies Keeping You Poor

  1. Money is the root of all evil

  2. I wasn't raised like that

  3. They won't give me the raise [or pay my higher rates]

  4. I don't have any money

  5. I can't afford that

  6. No one taught me this

  7. Money is guaranteed if you work hard

  8. If I just have more money, my problems will be solved

  9. I shouldn't have to have multiple jobs

  10. Your home is an asset

  11. It's better to own than rent

  12. I can't afford to invest my money

  13. If I'm approved for a loan, I can afford it

  14. I deserve this ______

  15. I have to lend so & so money because they are family or a friend

  16. I don't need help, I got this.