{"id":4019,"date":"2023-10-10T08:50:08","date_gmt":"2023-10-10T06:50:08","guid":{"rendered":"https:\/\/wyseminds.com\/blog\/demystifying-money-matters-part-one\/"},"modified":"2024-09-23T12:02:30","modified_gmt":"2024-09-23T10:02:30","slug":"demystifying-money-matters-part-one","status":"publish","type":"post","link":"https:\/\/wyseminds.com\/blog\/demystifying-money-matters-part-one\/","title":{"rendered":"Demystifying money matters \u2013 Part one"},"content":{"rendered":"

\"\"This article is the first of three in a series exploring some common misconceptions about money, and how they can so often hold us back as women entrepreneurs.<\/p>\n

Myth 1 \u2013 It\u2019s impossible to escape from my financial past\u00a0<\/b><\/h2>\n

I\u2019ve been working with a wonderful group of women over the last six months, empowering them to break free from negative thoughts and feelings about money that have held them back. The process culminated in a <\/span>workshop<\/span><\/a> featuring a particularly enlightening session on \u2018Cultivating a positive money mindset\u2019, led by Sandra Boekhoudt, founder of <\/span>wealthywisewomen.com<\/span><\/a>.\u00a0<\/span><\/p>\n

Emotional financial baggage<\/b><\/h2>\n

We all carry emotional baggage – and in the world of entrepreneurs, much of it can be related to money.<\/span><\/p>\n

Do I deserve success and financial independence? Shouldn\u2019t I focus more on my family role? This was certainly a hurdle that was candidly shared during our session.<\/span><\/p>\n

Uncovering my own emotional block was a surprise, even to me – that perhaps somehow the success pot was full, with little room for more. But I am my own person, following a very different path from my parents, and in a world that looks very different than it did in the early eighties. I don\u2019t even own a <\/span>ping-pong table<\/span><\/a>. Trust me I didn’t even realise I had a block towards my success goals.<\/span><\/p>\n

Emptying the backpack<\/b><\/h2>\n

\"\"Such self-limiting beliefs can hinder your growth journey, or stop you from even setting off. There\u2019s a much-quoted, but very helpful, analogy about carrying large rocks around in your backpack. The rocks represent the big things in your life that you\u2019ve never questioned the need to carry around. They\u2019ve always been in there, so you keep taking them everywhere with you, but they slow you down. If we stop and think about what we actually need to carry with us, much of the heavy load can be discarded \u2013 it\u2019s only there through habit. So I\u2019d encourage you to think about what\u2019s in your own backpack right now. Do you have rocks that you carry surrounding the notion of money and success, weighing you down and holding you back?<\/span><\/p>\n

Expanding the analogy further, it\u2019s not about emptying the backpack completely – some of those big rocks are useful. They represent your <\/span>priorities,<\/span><\/a> for work and life. But only by <\/span>putting them in first<\/span><\/a> can you fit the pebbles and sand and water around them that represent the other things you need to carry. These may be smaller, but they are equally vital for personal and professional fulfilment and success.<\/span><\/p>\n

Overcoming limiting emotions about money<\/b><\/h2>\n

I recently came across a great <\/span>Forbes article<\/span><\/a> that shares practical tips for ridding yourself of unhelpful and limiting beliefs about money, and your relationship with it. By reframing how we think about making, spending and investing money as entrepreneurs, we can remove many of the barriers that may be blocking our growth journey:<\/span><\/p>\n