Something unusual to contemplate is that financial challenges are not about the outside world but barriers or blocks that our thoughts have formed.
When you become aware of these financial challenges, the sad reality is that you must manage these hurdles. Financial challenges, also known as financial barriers, can take many forms. They could be external factors like a lack of clients or a downturn in the economy or internal factors like self-doubt or a fear of success. These barriers persist tirelessly, requiring continual attention and work like recognising their existence and establishing actionable steps.
This piece provides a helpful summary if you’ve faced financial barriers or internal conflict without definite causes.
What are financial barriers often referred to as money blocks composed of?
A financial obstacle obstructs achieving desired riches. Generally stemming from ingrained financial beliefs or anxieties, it may remain unnoticed.
Periodically, a concealed storyline pops up and undermines you ever so subtly.
Sometimes, women refuse to acknowledge having a financial obstacle. Instead, they believe it is their fault and convince themselves they lack business skills or that being rich is impossible.
Blaming your income insufficiency on external elements like clients’ financial situations, economic circumstances, or global pandemics can also keep you stuck.
Although external influences can affect your present income, it’s crucial to understand that to seize command and boost your earnings, you must come from within, and it is up to you to stoke the fire from within yourself. However, it’s essential to acknowledge that external factors, such as economic downturns or changes in the market, can also impact your financial situation. The key is to focus on what you can control and take steps proactively to improve your financial health.
Verify that your alleged “justifications” are not obstructing your financial advancement; they likely are! No rationale should obstruct your path.
For example:
Consider how you can highlight the value your clients are receiving to address any objections. Ask yourself, are you targeting the right market? You might even need to raise your rates, where a budgeted cash flow is essential.
If you are facing difficulties in the present economic climate, consider creating a budget-friendly initiative that will enable you to generate multiple rewards for your hard work. I offer group sessions for some of my offerings or even an online course, which is often a great starting point for someone to get to know you and want to spend more money with you.
You can look at creating passive income products.
These are some concrete steps to conquer financial barriers.
Although these external factors may be valid, the idea that they control your income is also a financial obstacle or money block coming from within.
How can you identify if you are encountering money blocks from within?
Let me boldly state, “Be assured, you have them.”
How can I be sure? Because everyone has them.
From my extensive work with clients, I assure you you’re not alone in confronting financial obstacles. Even highly accomplished business owners, including the ultra-wealthy, have faced and overcome them. This shared experience can help you feel understood and less isolated.
OMG, even I have been known to face those elusive financial challenges. I often wondered why I was not earning what I believed I was worth.
Remember that addressing financial obstacles is not a single occurrence, similar to motivation. It’s an ongoing journey that demands patience, severance, and being open to their existence.
As you progress in your business, you can expect to encounter enduring financial hurdles. Yet, the silver lining is that each instance will teach you to recognise and overcome them promptly, enhancing your progress and strength. Knowing that these challenges are growth opportunities, this perspective can inspire a sense of hope and resilience in you.
At this point, I encourage you to understand this idea. Suppose you seek more funds, but they need to be within reach. In that case, my diagnosis is almost entirely conclusive —you have financial obstacles with those money blocks that you have created from within!
Remember, you can encounter financial obstacles without letting them hinder your advancement. With a shift in mindset and strategies, you can overcome any blocks and progress towards your financial goals.
What triggers our financial obstacles?
Several women hold an underlying notion that abundance and achievement could be intimidating. Internally, there are probably stories about adverse outcomes linked to enhanced wealth. These stories can evoke fear, guilt, or even shame, influencing financial decisions. Acknowledging these feelings and understanding how they might impact your relationship with money is essential.
It might appear paradoxical. At first, there’s a wish for more significant monetary benefits, but conflicting feelings emerge internally.
It serves as a protective mechanism designed to guard against possible dangers.
Instances of specific financial challenges/ money blocks
Several people commonly encounter shared financial hurdles. Although you might view your situation as unique, it is probably standard.
Here are some common ones – see which ones you identify with:
- “Prioritising happiness over wealth is more important.”
- “Rich people are often selfish and only care about themselves.”
- “It feels wrong to have more when others have less.”
- “My loved ones may feel threatened if I out-earn them.”
- “Wealth is not in my cards.”
- “Money skipped our family, so it’ll skip me too.”
- “The earning money is paved with challenges.”
- “My focus is on making a difference, not chasing wealth.”
- “If I become too rich, people might treat me differently.”
- “Money is hard to come by.”
Pinpoint your financial blocks to avoid hindering yourself.
Ponder the common notion that effort is required to earn income.
If you encounter this obstacle, you might observe self-defeating actions that support your conviction. Some examples of hindering yourself might be a hesitance to assign responsibilities, which makes you shoulder everything alone, or delaying tasks, which leads to rushing at the eleventh hour to finish them.
Identifying these detrimental behaviours means stopping them and understanding that they arise from your financial obstacles. Manage your responses in these situations.
Some lucky people find that simply acknowledging a financial hurdle can solve it. Certain obstacles are more enduring, based on my observations.
How can we tackle financial challenges?
1. Recognise your limiting beliefs: Take a moment to reflect on your values and perspectives about money. Understand the origins and influence of these beliefs on your financial decisions.
2. Challenge your beliefs: Once you recognise your limiting beliefs, don’t be afraid to question them. Look for evidence that contradicts them and seek inspiration from those who have achieved financial success despite similar obstacles.
3. Formulate a strategy: To conquer your financial barriers, start by setting clear monetary objectives, which could involve increasing your monthly income by a certain percentage or saving a specific amount each month. Next, create a budget that fits your financial goals and helps you track your progress. Consider consulting a financial expert or mentor who can provide specific guidance to address your situation. As a CPA Accountant and a guide for women seeking a no-BS approach to transforming their relationship with money, I offer personalised solutions for persistent money blocks, such as one-on-one coaching sessions or online courses.
4. Act now: Initiating steps towards your objectives, even small ones, is crucial. Each step builds momentum and boosts confidence in tackling your financial barriers.
Remember, conquering financial barriers is a journey that requires dedication, time, and perseverance. But by following these actionable strategies, you can start managing your money effectively and reach the financial prosperity you aim for. This reassurance can instil a sense of empowerment and confidence in you, knowing that you have the power to overcome your financial obstacles.
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