Episode 126 Five Common Wealth Building Mental Blocks and How to Overcome Them
Have you been feeling that you’re stuck in a cycle and can’t move forward on your wealth-building journey? You may have experienced one of the common wealth mental blocks that a lot of us deal with.
In this episode, I tackle 5 common mental blocks preventing us from building long-term wealth, and share resources to overcome them.
- The Scarcity Mindset – you believe that resources and wealth are limited.
- Fear of Becoming Wealthy – you fear success or doubt your capabilities.
- Fear of Failure – avoid risks that lead to your missed opportunities.
- The Comparison Trap – you constantly compare yourself to others which leads to feelings of inadequacy.
- Lack of Long-Term Plan – you prioritize short-term pleasure over long-term goals which hinders wealth-building.
- Recommended books and articles to overcome mental blocks
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Dreamers’ Wealth of Wisdom
- The thing with the scarcity mindset is if you don’t acknowledge it and deal with it and recognize it, it can lead to even earning less money.
- Focus on delivering the best quality that you can so that you can command those prices.
- Once you’ve taken the time to do your research, just do it as opposed to waiting another year.
- I would rather try and fail than not try years down the road you wish you had.
- Spend money on the things that we care about, that add value to our lives.
- Short-term things should come after investing in your future and your retirement.
- The lack of long-term planning translates to putting too much emphasis on saving.
Mentioned on the Show:
- How to Build Wealth When You Don’t Come from Money
- Think and Grow Rich
- What to do when your race isn’t enough
- We Should All Be Millionaires
- A Healthy State of Panic: Follow Your Fears to Build Wealth, Crush Your Career, and Win at Life
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
- Rich People Problems and Why We Should Care with Kristin Keffeler, Author of The Myth of the Silver Spoon
Connect with Anne-Lyse:
Other Episodes You Might Like:
- How to Change Your Money Mindset To Earn More with Natalie Bullen
- How to Negotiate and Quit Your Way Rich with Mandi Woodruff-Santos
- 28 Doors and Counting: How to Build Wealth from Rentals with Yamundow Camara
- 5 Steps to Building Wealth in an Unequal World with Cedric Nash
- Maximizing Your Tax Benefits with Michel Valbrun