Finance For Life

Did Limiting Beliefs About Money Make Me a Millionaire?

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I started investing in real estate when I was 12. By the time I turned 26, my property portfolio had made me a millionaire. But I’m not sure what it has done for me financially—the cost of living is still high and my lifestyle hasn’t changed much since then.

“101 disempowering beliefs about money” is a blog post by Michelle Schroeder-Gardner. The article discusses the various myths and misconceptions that people have about money, and how these can lead to an unfulfilled life.


As we see and hear our parents handle financial concerns, we begin to establish views about money. We can sense the strain in our parents’ voices when they argue over money. We can sense the tension of their anxieties and fears if they weep.

We fill up the gaps between what we see and what we know through time. We develop assumptions based on our observations and devise coping methods to keep us from experiencing similar pain and worry in the future.

We establish limiting thoughts about money in the back of our brains as we analyze our parents’ negative emotions and prepare for the consequences of their actions.

A One-of-a-Kind Collection of Limiting Beliefs

Every person’s set of limiting beliefs is different. Some individuals are raised to believe that money is a bad thing. Others believe that money is difficult to understand or that they are unworthy of it.

Perhaps you feel that having more money would make you happier, more successful, and more well-liked. 

Our limiting views about money appear in many ways throughout life. Some individuals despise riches and will go to great lengths to avoid it. They may rack up credit card debt, refuse to pay their expenses, or consider that “wealthy” is a derogatory term.

Others use money as a means of demonstrating their value. They compare themselves to others all the time and splurge in order to look happy and successful. 

Our capacity to handle money is hampered by these restrictive attitudes. In the worst-case situation, they drive us into debt and hinder us from succeeding financially.

Although all limiting ideas are destructive, not all of them result in financial catastrophe. What evidence do I have? I became a billionaire because of a limiting idea about money.

A trip to the music shop this week brought back the memories that contributed to my erroneous assumptions. Standing amid the gleaming tools, I acquired a fresh perspective on my erroneous ideas and my financial experience so far.

Memories of money and the Formation of Limiting Beliefs

We’re in line behind five families who are ecstatic to get their hands on some new instruments. One of the boys enthusiastically exclaims, “I’m playing the trombone.” Another person responds, “I want to play the drums.”

The line thins down, and a little girl with her father approaches the counter in front of us. The peppy gray-haired guy behind the register inquires, “What do you want to play?”

“The flute,” she says sheepishly.

As he walks into the backroom to grab one, he sings melodically, “The flute, the flute.” 

“Here it is, my darling,” he says as he returns, flicking his wrist and handing the little girl a tiny package.

To obtain a better view, she stands on her tiptoes, rising and pushing herself as high as she can. She stretches a little further by pressing her hands on the counter. 

A big grin spreads over the cashier’s face as she opens the case. 

He continues, “You may touch it,” and she gently runs her fingertips over the gleaming keys. She focuses her attention to the instrument. Then she raises her eyes to her father, a broad smile on her face.

Happiness Has a Price

The clerk responds, “That’ll be $36 each month.” “On top of that, there’s $5.00 for the monthly maintenance plan.” Only your driver’s license and a credit card are required.”

Her father’s face sinks as the small girl continues to brush her fingertips over the flute. “$36 per month?” he inquires. “Are there any alternatives that are less expensive?”

“Not really,” answers the cashier. “You may attempt to find one on Craigslist or Facebook, but you’ll have to bring it back here to get it verified. Many ancient instruments are unplayable.”

For a little period, the guy stops. “Are there any other options?” he inquires once again.

“I’m afraid not,” says the cashier. 

The guy picks up his wallet from the counter and moves his gaze to the door. He seemed to be on his way out. He examines the back of his credit card. Then he returns his gaze to the small girl.

The cashier inquires, “Would you prefer to come back another day?”

“No,” says the guy gently. “She expects this by Monday, and I don’t want to let her down.” He sighs as he gives over his credit card.

My Money Attitude

I was at a similar music shop 35 years ago, dreaming of playing the piano. I slowly stroked my fingers over the black and white keys, daydreaming of the music I’d learn to play.

I remembered the giddiness that tingled in the tips of my nine-year-old fingers and toes as I watched the small girl in front of me.

I reminisced on that vivid childhood memory as the small girl bounced out of the shop. There were numerous parallels, but one major distinction stood out. 

I didn’t skip out of the music shop beaming like the small girl in front of me. My parents waved me out the door and firmly informed me that a piano wasn’t in my future as I hopped into the backseat of our ancient vehicle, shattering my nine-year-old hopes of playing music. 

I felt a palpable sadness as we drove home in quiet. The weight of my parents’ grief was also carried by us. 

Memories of Money

Although it has been 35 years since I stood in that music shop, the recollection remains as clear as ever.

I had no idea how money affected my happiness until I stepped inside. I was quite lucky. My parents were neither impoverished nor handicapped. 

They didn’t have to struggle to put food on the table or purchase school supplies at the start of the year. I had never asked for anything they couldn’t afford until I asked for that piano.

Money and Your Relationship

Do you have a memory of a time when your relationship with money was permanently changed? The instant I walked out of that music shop, I knew it was my time. 

I pondered my parent’s lack of income, my disappointment, and my parent’s anguish in the stillness of that automobile trip.

I created a series of restricting assumptions about money as my mind spun with thoughts and emotions. I had some misguided assumptions that I would take about with me for the following three decades.

Putting a Stop to Beliefs about money

It was simple to establish a barrier against melancholy in my nine-year-old mind. I needed to save if I wanted to be happy! 

I wasn’t certain that money could buy pleasure, but I was certain that it could buy suffering. I could afford the goods I want if I saved enough money.

I didn’t have much money back then, so I kept my eyes open for spare change on the floor. I shrieked and dashed home to deposit the pennies in my savings jar. 

I kept track of my coins and rolled them often. I’d sneak into my mother’s wallet or my father’s armoire when I was low on cash and beg if I may keep their extra change.

My subliminal conviction that money could purchase happiness increased, but it twisted and bent in strange ways. Shouldn’t I start a gigantic savings jar of fun money if money could purchase happiness? Isn’t it true that I should establish a goal for happiness and spend my money accordingly?

That would’ve been reasonable, but somewhere along the road, I lost sight of my objectives. I eventually stopped saving for happy reasons.

Instead, my money anxieties and worry rose, and I developed a desire to live frugally and within my means. 

I had stopped saving money in order to purchase pleasure. Pianos, vacations, fancy meals, and pricey excursions did not bring happiness. It comes from seeing the money pile up.

But, of course, saving doesn’t always equate to happiness, and being frugal made me even more depressed.

Money Beliefs

As a youngster, I felt the weight of my parents’ financial troubles and their disappointment in failing me as I walked out of the music shop. That feeling of weight stayed with me. Some youngsters may have recovered quickly, but for some reason, I was unable to. I didn’t do it.

All I could think about was convincing myself that I could save money and avoid a repeat of the experience.

I’ve thought about that recollection many times throughout my life, and I’ve always seen it through the eyes of a kid. Every time, until I caught a glimpse of the little girl and her father.

As I observed that parent struggle with the financial issue of whether or not to purchase his daughter a flute, I considered the mental challenges he had in weighing his alternatives. Should he let his kid down or go into debt to buy a flute he can’t afford?

I secretly delighted when he decided to purchase the flute, but as I watched him walk out, an odd notion occurred to me. 

This small kid was completely oblivious to her father’s financial worries. She had no clue how difficult it was for him to make that purchase or that he could come to regret his choice. She was completely unaware of the financial transaction that had taken place.

As the two left the shop, I was filled with awe as I remembered my own childhood experience. What would my relationship with money be like if I hadn’t gone to the music shop as a kid?

Getting Rid of Money Limiting Beliefs

My financial success was fueled by limiting attitudes about money that I developed as a result of my experience. That incident has now become the beginning point for my journey to financial freedom. 

Do I wish I had gone into the race with a more clear head? Without a doubt, I do. Instead of focusing on my concerns and anxiety, I wish I had concentrated on the pleasure of saving.

However, the light eventually seeped through the blackness. It took some time for me to let go of my money-related limiting ideas, but I ultimately redefined success, stopped chasing the wind, and earned time freedom.

I am glad for the financial adventure that began in the back of my parents’ vehicle during that calm time. Recognizing my parents’ financial difficulties changed the way I looked at the world. 

It eventually led to the creation of this site, which helped me on my way to becoming a billionaire. That event changed the course of my life for the rest of my life.

At first, I was rooting for the young girl who had just left the music shop. She received something I didn’t: a musical instrument that she wanted to learn how to play.

But arguably the most valuable gift I got was a greater understanding of the link between money and happiness. I’m glad for that moment, as well as the route that led me to where I am now.

The “positive beliefs about money” is a belief that has been around for decades. The idea that you can’t get rich without having an abundance of money. This is not true, and it’s time to stop limiting your beliefs about money.

Frequently Asked Questions

What are the limiting beliefs about money?

A: There are many different limiting beliefs surrounding money, but some of the most common include not having enough to spend on things that matter or being afraid to be wealthy.

How do you break a limiting belief about money?

A: I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.

What are some negative beliefs about money?

A: Some negative beliefs about money are that it is the root of all evil, or that people should not have too much.

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