The first step in mental coding is identifying the problem.
Most people know they have a money problem. But some live in ignorance.
When you make a lot of money, the money problem can stay hidden, as long as you can cover the bill.
The problem can lay dormant for years.
If you don’t identify you have a money problem, however, it can sink you at the absolute worst time.
As mentioned before, most people diagnose their money problem on their own, but sometimes it takes a crisis or an intervention to wake us up.
All of a sudden, you lose a job or your best client. Perhaps an unexpected expense wipes out what little savings you have and you are now scrambling to make ends meet.
The reality hits you like a ton of bricks.
“I have a money problem.”
Here are some ways to identify a money problem.
1. You always pay bills late or not at all
2. You don’t know how much you owe
3. You don’t know how much you have in the bank
4. You are constantly worried to the point of obsession about money
5. You are living above your means
6. You are not able to finish projects that will bring more money to you
7. You are afraid to showcase your skills to get hired
8. You are not organized financially (e.g. poor financial records, no or lost receipts)
9. You have little to no savings
10. You hate your job but can’t leave because of money
If you answered, “Yep, that’s me” to 3 or more of those things, you have a money problem. Have no fear, however. I’m here to help.
Where does poor psychology come from?
Money problems almost always come from childhood. Your parents (very likely) loved and cared for you immensely, but because they were trying to figure many things out, some of those parents made poor financial decisions that affected you. If you were ever evicted or forced to leave your childhood home or saw cars and other things repossessed, or if you grew up in poverty or chronic financial shortage, that will affect you as an adult.
Growing up in adverse financial conditions can lead to overcompensating when you grow up. You may choose careers because of how much they pay or have an unhealthy prioritization with money, to the point that you put it above relationships, God, and your health, among other things.
If money is above everything else, that typically won’t end well.
What is the solution?
You have to re-code your mind for financial stability and abundance. Money problems are not about money. It’s about how you think about money.
There needs to be a full mental expectation that the money you need and want will always be at your disposal. And then you need to consistently act on that expectation.
You cannot outwork a poor financial psychology. That mental coding will always win out.
Always.
So how do you change your mental coding around money?
You change it in 7 steps. We just did step 1. Step 2 is making a decision.
In my next part of this series, I will talk about why deciding to have abundance is vital to it becoming a reality for you.
have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).
