7 Money Beliefs That Are Keeping You "Broke"
I’ve come to realize one thing — your mindset can either make you or break you.
Back in the day, I thought managing money was all about math, numbers, budgets, spreadsheets, and interest rates. Everyone around me seemed to believe the same thing. But over time, I found out the truth was something else entirely. And honestly, it changed my life.
Here’s what I mean:
Your bank account is a reflection of your beliefs.
Think about it — what you believe about money affects everything. How you earn, how you spend, how (or if) you invest. And most of those beliefs come from how we were raised, our culture, and what we’ve picked up from family or society over time.
The good part? You can change those beliefs. And once you do, your financial life starts to shift too.
Let me walk you through some of the key money beliefs that might be holding you back — and how they’ve shown up in my own life.
Table of Contents
1
“I’m not good with money.”
This one used to hit me hard.
If you believe you’re bad with money, you avoid even trying. You don’t track your spending, you ignore your debt, and you tell yourself budgeting isn’t for you.
In my early 20s, I didn’t know what a budget was. I’d overdraw my account and just brush it off like, “Eh, I’m not a numbers guy.” Truth is, I never really tried to learn. But once I started watching YouTube videos and reading a few blogs, I realized money skills aren’t rocket science. Anyone can pick them up.
2
“I’ll always be poor.”
This one is personal. It often comes from growing up without much. When you’re raised around struggle, it can feel like success is out of reach.
One of my friends grew up in a low-income household. Owning a home? That felt like a fantasy to him. But instead of giving up, he started learning about credit, mortgages, and saving for a down payment. That mindset shift? It helped him buy his first home at 36.
3
“Money is the root of all evil.”
This belief can make you feel weird or guilty about wanting more money. It messes with your confidence. It makes you afraid to charge what you’re really worth.
I’ve been there. Every time I went for a job interview, I accepted whatever salary they offered. I never negotiated. I thought asking for more would make me seem greedy. But once I started seeing money as a tool — not something evil — I stopped lowballing myself. I earned more, got more respect, and had some breathing room by the end of each month.
4
“If I make more, I’ll just spend more.”
This one keeps a lot of people stuck. You might avoid higher-paying jobs or side gigs because deep down you think, “What’s the point? I’ll just blow it anyway.”
Here’s the thing: it’s easy to upgrade your lifestyle when your income goes up — new phone, better car, more takeout, designer clothes. You look rich, but your bank account tells a different story. Unless you fix your habits, more money won’t change a thing.
5
“I’ll start saving when I make more.”
So many people (me included, once upon a time) wait for the “right time” to start saving. But the truth is, the perfect moment never really comes.
Even if you’re earning minimum wage, you can start small. Skip a $5 coffee here, track your expenses there — it adds up. What matters most is consistency, not the amount.
6
“Budgeting means I can’t enjoy my life.”
This one used to annoy me. People hear the word “budget” and think it means saying goodbye to fun. But that’s just not true.
Budgeting isn’t punishment. It’s actually the opposite — it gives you control. It lets you decide where your money goes instead of wondering where it went. I’ve written a full post on budgeting if you want to dig into that.
7
“Money will fix all my problems.”
Let me tell you about a friend who won $15,000 in the lottery.
First thing he did? Paid off his credit card, bought new clothes, and upgraded his phone — all in cash. Sounds smart, right?
A year and a half later, his credit card balance was back to $12,000. Nothing really changed. Why? Because the problem wasn’t the money. It was the mindset. When you don’t change your habits, no amount of cash can save you.
Final Thoughts
Beliefs are powerful. But they’re not set in stone.
If your money situation is a mess, don’t just blame your paycheck. Take a good, honest look at what you believe about money.
The best part? You can start changing those beliefs today.
And I promise — your bank account will eventually start to reflect that change.
