7 Major Reasons Why Anyone Can Be Financially Broke

 

7 Major Reasons Why Anyone Can Be Financially Broke

 

Money blocks exist.

Most of us have encountered them at some point in our lives.

You might actually read this post and realize, "This is why I'm broke!" as a result of learning about these roadblocks.

This is because it can be difficult to recognize that you're broke because of a money block.

Most people believe that changing your financial habits is all it takes to get out of debt, but there's more to it than that. That's why it's crucial to understand what these money blockages are and how to get rid of them.

What is a money block, and how does one get one?

But, first and foremost, what is a currency block?

A money block is a set of thoughts, an attitude, or a mood that prevents you from reaching your financial goals.

It might be paying off debt, saving a ton of money, diversifying your income streams, or living the life you want.

7 Money Roadblocks and How to Get Around Them

Here are seven money roadblocks to recognize and overcome in order to achieve financial success.

1. Financial roadblocks stemming from restrictive thoughts

So, have you ever wondered:

To afford that, I'd have to be a billionaire?.

I'm not going to be able to save that much cash!!!.

How am I ever going to be able to pay off this debt?

Those are classic examples of limiting ideas, which many of us may have picked up as children. Hundreds of them, believe it or not, are constantly racing through our heads.

So, what's the solution? 

It all comes down to being aware of your ideas and then reversing them. This will become second nature to you with time.

So, instead of focusing on what you can't achieve in the future, focus on what you can by developing an abundant mindset, such as:

I can afford that and I'll figure out a way to get there.

To be able to save all of that money, I'm going to design a savings plan.

I'm going to pay off all of my bills.

Additionally, make it a mission to start and end your day on a happy note, as this will help you overcome negative ideas.

Try praying, meditating, or journaling.

Find out what works for you when it comes to getting into the correct frame of mind.

You will be more inspired and inclined to attain financial success if you are in the correct headspace and having the appropriate thoughts that do not limit what you can do.

2. Self-defeating thoughts

Money barriers are caused by negative or restrictive beliefs. Speaking them out loud, on the other hand, intensifies them. Speaking negatively or using limiting words gives such statements weight and authority because they have been spoken.

Furthermore, all of this negative self-talk can lead to stress, which can have a detrimental impact on your health!

Be aware of the words that come out of your mouth, as they will be manifested. If you catch yourself stating something negative, change your words and restate your remark in a more positive way.

Remember that your words and thoughts are inextricably linked.

The more you say something, the more you think about it, and the more you think about it, the more probable it is that you will say it.

Both (your ideas and words) have a significant impact on your motivation, perspective, behaviors, and tenacity in any scenario, including financial success.

3. Money blocks for non-specific objectives

If you don't have a rhyme or reason for what you want to achieve with your money, you'll hit roadblock after roadblock.

You'll come up with reasons why things aren't working out.

Other, less important activities will eat up your time and money, and you'll quickly lose drive.

Because there is no deadline, you are less likely to stay focused on your money (and life) goals if they are not explicit and measurable.

As a result, you'll be less likely to achieve them.

Setting extremely clear and detailed goals around certain deadlines is critical to getting rid of this type of money barrier.

Instead of just saying, "I will pay off all of my debt," specify how much you plan to pay off in total, as well as when and how you plan to do so. After that, write it down somewhere you'll remember it. It could be written in a notepad, spreadsheet, or app.

Also, once you've set those enormous goals, break them down into smaller portions that you can track weekly, monthly, and yearly to keep you motivated over time.

Breaking down large goals into smaller ones keeps you motivated since they are easier to achieve!

4. Your feelings and grudges towards other individuals.

This is a huge one. Many people are envious of or even angry at others who appear to be doing better than they are. They spend their time and energy feeling this way about their friends, family, coworkers, and even strangers on the internet!

Because they are focused on negative ideas and actions, these emotions throw a lot of money barriers their way.

Is this something you've done before? You may, however, correct the situation by refocusing your time and efforts.

Instead of focusing on what other people have that you don't, you can concentrate on what you can do to get started taking the steps you need to stay motivated and start achieving financial success on your own.

When you start to feel envious of other people, it's also vital to remind yourself to be appreciative because it might help you overcome bad feelings.

Gratitude is such an important aspect of achieving financial success.

When you are grateful, you become aware of all the blessings in your life, which leads to happiness.

Realizing that someone is praying for what you already have can also help put things in perspective.

5. Having a hard time forgiving yourself for your financial faults

This is another big-money stumbling barrier that a lot of people have trouble with.

To go forward with your financial goals, you must forgive yourself for your financial mistakes, learn from them, and keep moving forward.

Yes, mistakes do occur.

Even the world's wealthiest people have made poor financial decisions from time to time.

It's all about recognizing where you went wrong and determining what has to be done to put things right. Even if you make the same or similar mistake again, you must acknowledge, learn, and apply the lessons until you have overcome the mistake..

This is how you get rid of those money stumbling blocks and start achieving true financial success.

6. Ignoring your financial situation

Do you put off dealing with your finances? This is a sort of financial disorder.

Money avoidance tendencies include avoiding checking your bank statements, paying payments late, and so forth.

Basically, stay away from everything that has to do with money!

This money stumbling block arises from erroneous money beliefs and leads to self-sabotage.

Take this stumbling obstacle on head-on. Begin by establishing a financial routine to develop the habit of checking in with your finances on a regular basis.

This is a crucial step since it allows you to quit ignoring all things financial and instead keep on top of your finances.

Start keeping a spending notebook to log transactions and your feelings about money to get true control.

7. Adoration of the all-powerful dollar

"I thought wanting money was a good thing," you might be thinking. It is, but only in moderation.

Money worship does not imply that you have a lot of it. It means that you are continually striving for more and more, and as a result, you wind up squandering and accruing debt in the pursuit of happiness.

So, the key to overcoming this financial stumbling block is to discover your passion.

What makes you truly happy outside of monetary possessions?

Finding out what inspires and provides you joy is vital because instead of wasting money on things you don't need, you'll discover enjoyment in experiences.

You can overcome your financial obstacles and achieve financial success.

Finally, now that you know how to get rid of money blockages, I want you to know that you can achieve everything you set your mind to. Anything is possible. This indicates that you have the ability to break the pattern of being broke. Take a moment to absorb that.

All you have to do is desire it badly enough and be prepared to put in the effort and persevere.

So take some time to think about your finances and figure out what's creating any money snags you're having right now, then take actions to resolve them.

Also, accept that you will occasionally fall short of your objectives, which is also ok.

People who succeed are those who push past their flaws and failings and keep trying despite them.

Learn how to get out of debt, save money, and develop wealth to start removing your financial barriers.  

#wealthisearned