Of course a money mindset coach can’t give you another $500 – $10,000 a month. Only you can change your income. What they can do is to help you uncover some of the internal blockages which may be holding you back from living the life you really want.

So lets have a look at some of the things a coach can help you with.

Money Mindset Coaching – Fear

Fear can keep you safe, but it can also hold you back. Money is a subject which is surrounded by a lot of fear. Perhaps you fear success as much as you fear failure? Or perhaps maintaining the same level of income helps you maintain the status quo with the people in your life? Take a look at your circle of influence. Who do you surround yourself with. Jim Rohn was a motivational speaker who said that “You are the average of the five people you spend the most time with.”

How would your friends and family feel when your income takes a massive leap upwards? Would they support you and be happy for your success? Think about this and go through your closest friends. You could even ask them how they would feel, but you can probably surmise how they would react if you know them well enough.

Exercise: Write down the list of your closest friends and how you believe they would react if you had all the success you really desire.

In fact, this exercise is better if you don’t actually ask your friends (at first) because it’s more to do with how you perceive their reaction. If, for example, you feel you would take away someone’s status in your relationship, you may use this as a subconscious blocker – thinking you are looking after your friend over your own progression.

Money Mindset Coaching – Words

Words have power and we spend a huge amount of time talking money away from us unconsciously. Start noticing your self talk. Notice the way you talk about yourself and about money/wealth. Is there any resentment towards the wealthy? Would having money have any negative connotations for you? How do you feel about those who are rich?

If you’re holding negative ideas towards money, the wealthy or getting rich, you will likely be talking these ideas into existence too! By paying attention to your words, you can become more conscious about how you view money and wealth.

Exercise: take some time to notice how you talk about yourself and about money. Notice also what your closest friends say about it. How do they think of the rich? How do you think of yourself? Do you have a high self worth, or could this do with some work?

One of the best ways to become more aware of your words is through meditation. By spending some quiet time daily to sit in silence, you will notice your inner chatter. This will give you a big clue as to what parts of yourself are resistant to receiving more money/

Money Mindset Coaching – Early Experiences

Your early childhood experiences have a lot to do with how you value yourself and view the subject of money. Before you were able to consciously reject an idea you didn’t agree with, you soaked up the ideas and thought patterns of your parents without question.

Money is usually a hot topic in any household and no doubt yours wasn’t much different. Think back to the earliest memory you have about the subject of money. Perhaps it was about scarcity, or a conflict over power which had something related to money. Money is often the subject of a power struggle.

What did your parents say about money? Was it anything negative/positive?

Exercise: take a notepad and spend some time journalling what you remember about your childhood. In particular, think about emotional experiences to do with money, scarcity or power dynamics of your parents relationship.

This is a useful exercise and if you spend some time on this you can uncover some deep seated ideas which relate to money. You may have made a choice here about how you will think about money/power dynamics in your relationship.

Money Mindset Coaching – Thoughts About Money

What you think about money has an affect on how much money you allow yourself to have. Thoughts become things. Not immediately of course, but over a long enough timeline, your thoughts are the grooves which shape your experiences and choices. Money is no exception.

Some of your negative ideas to do with money will no doubt be limiting your ability to have much of it. So if you want to attract more money in your life a good place to start is with your thinking. As we’ve mentioned already, your words will often come out unconsciously, speaking existence into your thoughts! So that’s one way to identify whether you have some negative thoughts about money. But by watching your thinking, you can also pluck out some negative ideas. On a scale of 1-10 how much do you relate to these ideas about money:

• It is more enlightened to be poor than rich
• I don’t feel good enough to be rich
• Having excess money means you are greedy
• Money corrupts artistic and creative endeavours

See also how to develop a positive money mindset for more questions like these.

Exercise: spend some time running through the questions on this article and mark your answers truthfully in terms of how much you relate to the ideas.

Money Mindset Coaching – Stalking Your Mind

Stalking is something incredibly useful when it comes to changing your mindset towards money. With the exercise above, you can easily cheat and give answers which you would like to believe, even if you really carry some negative opinions towards money. But stalking allows you to see the truth about what’s going on inside your mind on a daily basis.

If you can “catch” your mind in a moment of the day, discussing money in some negative way, you will see the truth of how you feel about it. To do this you will need a note pad and a timer watch which can be set for intervals throughout the day.

Exercise: Set your alarm to go off during intervals throughout the day. It’s helpful if you can’t predict when it will go off. if it goes off on the hour, for example, you can predict it happening and therefore prepare for it. You don’t want that! You want to “catch” your mind unsuspected so you can see what’s going on. Each time your alarm goes off write down three things:

• What you were thinking
• What you were doing
• Do you want this?

This little exercise should be done over a few days to get the most from it. When you uncover some of your unconscious thinking habits it can be a goldmine of information when you want to create change in your life. Of course meditation is a similar exercise, although you can easily neglect to catch yourself in an unconscious state with meditation, because you’re being quite conscious about it.

Inventory Of Spending

How you spend money is as much to do with your money mindset as how you earn it. If you’re spending frivolously, but earn modestly, you’re going have a problem! Over spending is common and with the access to credit, this problem can easily grow out of control.

One way to change your spending habits is to become much more conscious about it. Look through your bank statements and write down all your monthly expenditure. This exercise can be very enlightening. You can also take a notepad and pen and write down all your spendings over a week, some of which may be in cash, so won’t show up on your bank statement.

Exercise: take a notepad and pen and carry them with your for a full week. Note down every time you spend money, however small.

This exercise is super easy to do and will bring your attention to your spending habits. It’s also worth going through your bank statements and cancelling anything you have set up but which you don’t really value such as subscription payments.

The Latte Factor

The “latte factor” is a idea I first heard from a book by David Bach, called The Automatic Millionaire. It means the regular treats we purchase such as a latte coffee. Sometimes a latte can cost as much as $7. While this is a nice treat and of course “you’re worth it”, if this is a regular habit for you it can easily stack up. Just two of these a week will cost you $728 over the year!

That’s money which could be flowing into your savings account, or being used to build an online business, for example!

Exercise: Take a note of your “latte factor” by noting down these little treats you give yourself. Use your notepad and pen whenever you make such a purchase. Although these feel like little things, they can easily add up over time and if they become regular habits.

Your Focus

If you are mostly focused on what you don’t have, you may have a scarcity mindset. A scarcity mindset focuses only on lack. There’s never enough and you’re never enough. A scarcity mindset can come from many things, and can be the result of many years of poverty. This struggle becomes hardwired into your brain, and you no longer see things as they truly are, but rather as a constant struggle. If this rings a bell for you, read my article on overcoming scarcity mindset.

To help you shift your mindset from one of scarcity to one of abundance, you can use gratitude. Gratitude is a great antidote to the mindset of scarcity. With scarcity you focus on what you lack, but with gratitude you focus on what you are already grateful for. By doing so, even if this is tough at first, you will gently shift your energy to draw in more good things, because you’re focused on the good, rather than the bad!

Exercise: Buy yourself a nice notebook and pen. Start a daily exercise of writing down the things you are grateful for. This can be tough at first, especially if you’re in the “energy” of lack and limitation. Start with small things, such as a cup of coffee, and the clothes on your back, for example.

Self Worth

Your self worth is also wrapped up in your ability to make and keep money. If you have low self esteem, and self worth, you’re unlikely to think you’re worth much money. You might find ways to lose money, or spend it unwisely. Perhaps you struggle to hold down a job, or don’t value yourself enough to find a job/career that feels good to you.

Be curious as to where this comes from. Does your current circle of influence support you? Did this come from an early childhood experience? Trauma often leaves you with a sense of being unloved, or a sense of unworthiness.

Working on your self worth can take some time. Spend time with people who support you, not drain you. Think about the things you enjoy and do more of them. Listen to your inner voice and learn how to change the negative ideas taking up space in your head by replacing them with more positive ideas. Be very compassionate with yourself with your self talk.

Exercise: take a note pad and pen and write down any reasons you might feel unworthy. Now, next to each one, write a contrary statement, explaining how much you are worthy of love, money and a life you love.

Self Image

Your income can seldom overtake your self image. So if you view yourself in a certain light, it may be holding you from the life you truly want. Your self image or identity is intricately linked to how much money you earn. So however hard you try to earn more money, you will maintain your consistency because your self image tells you who you are on a very deep level.

So, the self image may be your invisible barrier to greater levels of success. If you have been struggling with trying to change your circumstances, without any luck, this may be the main reason you keep failing to push your income above a certain level.

Maxwell Maltz wrote a book about self image called Psycho-cybernetics. Maltz was a plastic surgeon who discovered many of his patents were unhappy with themselves even after having plastic surgery. He started working with patients pre-op to help them with their self image. Many of his patients realised their problem was internal, not external and no longer wanted to undergo surgery once they had changed their view of themselves from within.

Exercise: notice how you talk about yourself to others for a full week. Make a note of what you say, particularly regarding money and your self worth/how you view yourself. Just observe and make note. You can’t change what you’re unaware of!

Consumer Vs Producer

Are you a consumer or a producer? Most people will spend 90% of their time in consumer mode. We consume petrol/gas for our vehicles, we consume vast amounts of online content (videos, YouTube videos, films, television shows etc.). Perhaps you’re trapped in the habit of consuming online content, rather than producing it!? Or buying courses?! (I have definitely fallen into this trap)!

We buy food and clothes and spend money on entertainment. How much time are you spending in producing/working? Once you start noticing how much you consume, you might decide to switch up your relationship between consuming and producing. While working a job is effectively producing for someone else, you’re still selling your time for money, which is a finite strategy for creating money. There’s only so many hours in the day, so no matter how well you get paid for your time, you always need to continue to work in order to get paid.

When you are able to get paid for work you’ve done already, you are shifting towards the role of a producer. If you’re not yet in the producer role, you can learn more about starting an online business here. An online business is one of the simplest and quickest ways anyone can change from trading their time for money, towards using automation and systems and technology to earn money. Learn more about starting an online business here.

Exercise: Note down how much time you’re spending each week in your job or building your business. Compare this figure with how much time you spend consuming; TV, online content, entertainment, travel, etc.

This exercise should help you shift your mindset from being an unconscious consumer of goods, products services and content, to one of a producer.

Summary

Of course there’s a lot of theory here and these exercises will help you to uncover your beliefs and attitudes to do with your personal self worth, your ideas about money and consuming versus producing. By uncovering hidden (unconscious) blockers to your success, you can change your paradigm and create a new set of more supportive ideas which pave the way to your future self. You may try and disconnect your ideas about money from the actual way you make money. But everything is intricately linked and if you talk away money in one part of your mind, it’s going to have an effect on everything; more so over time as those “grooves of your mind” create circumstances and situations in your life.

Just working on theory can be a trap however, and you can spend months or years in “theory mode”, without actually making any changes in your personal circumstances. So it’s just as important to have an actual plan to move yourself forwards in the right trajectory. Starting an online business is one of the best ways to change your trajectory and shift from being an employee to a business owner. To learn more about starting an online business checkout this free video.

If you’re interested in more personal money mindset coaching and training, sign up on this website to be notified of upcoming coaching courses which you can attend online. You’ll also receive regular emails on this topic.

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