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How To Overcome Money Blocks In 2023 (The Ultimate 6 Step Guide)

Woman with short blond brown hair waving a hand full of dollars near her face as she sits at her desk smiling working on a laptop computer. The office contains a white cabinet with glass doors and book inside of it. There is a large green leaf plant in the corner. The desk is light tan and has a glass of rose wine and papers on the desk.

Photo by Karolina Grabowska

You’re ready to learn how to overcome money blocks and stop holding your financial success hostage.

You often ask yourself, “Why does my bank account keep shrinking?” And you wish you understood how you could change that from happening.

The thought of ever getting caught up and having a nest egg in the bank seems like a dream that will never come true.

You’re not alone. So many people, especially women, have difficulty unraveling the mystery of money and how to keep more of it.

The good news is that you’re in the right place and have taken the first step.

This comprehensive guide will help you understand what money blocks are, how they affect your lifestyle, and how you can overcome them and change your relationship with money to achieve financial freedom.

Let’s dive in and discover your money blocks and how they’re holding you back from having the financial freedom you desire.

Table of Contents:

Recognizing The Thoughts And Behaviors Of Money Blocks

Unraveling The Mystery Of Money Blocks And How They Affect You

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Photo by Leeloo

You've heard the term "money block" and have a big question mark above your head when you hear those words.

So What Are Money Blocks, And How Do They Affect You?

Money blocks are a common problem for many people. Several factors can cause them, but the most common ones include the following:

  • Lack of money

  • Fear of debt or poverty

  • Lack of knowledge about finances

  • Bad financial habits

Simply put, a money block is a mindset, habit, pattern, or belief related to money that prevents you from gaining and keeping more money.

Sounds crazy, right?

Who doesn't want more money? How could you be pushing it away?

Let's remove the fog from the lens and get a clearer picture of how you identify with money blocks.

Action Step 1: Grab a notebook or journal and list your fears and wishes around money.

Recognizing The Thoughts And Behaviors Of Money Blocks

A women withs short blond hair, wearing a white shirt, is sitting at a desk reading a letter with an orange pen in her hand. She has a concerned look on her face. The desk is tan  and has a laptop computer, calculator, notebook, dollar bills, a pen holder, and a clear glass filled with water.

Photo by Karolina Grabowska

There isn’t a definitive list of money block types, and they are certainly not a one size fits all type of listing.

Instead, money blocks are learned thoughts and behaviors that start way before you ever understood what money was and how it affects your way of life.

Money blocks are usually introduced to you from a very young age. More often than not, money is taught to be a taboo subject.

You may have been taught never to discuss how much money you make at your job or how much that new house or car costs.

Money is often spoken about as a secret. If you flaunt how much money you have, you are a pompous showoff (which subconsciously gives you the belief that money is bad).

As a child, you may have watched how your parents spent or did not spend money and listened when they spoke about money with family and friends.

Take, for instance, these phrases. Do they sound familiar to you?:

  • Money does not grow on trees.

  • I wish I had their money.

  • Can you believe the cost of….. (insert just about any item)

  • You will never make that kind of money.

  • It must be nice to have that kind of money.

  • People like us don’t have that kind of money.

  • I grew up poor, so I will always be poor.

  • Greedy people have money.

  • Money can’t buy happiness.

  • You have to work hard to be rich.

  • Marry a rich man.

Are you nodding your head?

It’s not an intentional motive from your parents. These types of phrases have been repeated time and time again over the years, and your parents heard them too.

Negative views on money become part of your everyday conversation because that is how you have been taught to relate to money.

Is the fog clearing about how money blocks are the ingrained thoughts and feelings of those around you that you have heard on repeat your entire life?

Those thoughts and feelings become part of your subconscious thought process. This, in turn, holds you back from having the money you desire because you have been taught that getting and keeping money is hard.

A scarcity and fear-based mindset start to form.

How often do you find yourself repeating similar phrases over and over?

Action Step 2: You will work on becoming aware of your thoughts.

Every day, I want you to do the following things:

  • Any time you begin a conversation about money, take a brief break and think about the words you are about to say.

  • Write down the phrase(s) you are about to say or have said.

  • Now read the phrase back to yourself and answer the following questions:

    • Does the phrase sound familiar to what you heard the adults in your life say as you were growing up?

    • How does it make you feel when you say those words?

    • Do you feel like you have less and can’t have more of something because of money?

    • Does it deflate your confidence and spirit and make you feel stuck in a box?

This task sounds like a lot of work; initially, it may be for you.

Becoming aware of your thoughts and feelings takes time. Be open and allow the feelings of vulnerability to shine through. It will give you the answers to change your views on money. Let’s identify your money blocks and start making changes.

Identifying Your Money Blocks (Make Simple Changes That Move Your Income Forward)

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To help you identify your money blocks, you must be aware of your thoughts and patterns around money and be mindful of the phrases you use when talking about money.

Everything around money blocks has to do with your mindset and how you will shift your perspective on money to gain the financial freedom you desire.

Money blocks are a form of scarcity that various thoughts and feelings can cause.

Here Are Some Ways Money Blocks May Show Up For You:

  • You're not making enough money to cover your expenses: You constantly feel that you will never be able to catch up, no matter how much money you make.

  • You tell yourself you're not good enough or qualified to make more money: You won’t apply for a better-paying job or ask for a promotion because you feel your skills do not qualify you, so you stay comfortable in your current position.

  • You think you don't deserve to make more money: You feel that if you can cover your expenses, that’s enough, and making more money is for other people.

  • You feel like there's not enough time in the day to make more money: You tell yourself that getting a second job or working longer hours is your only option for making more money.

  • You feel guilty about making more money than others in your life: You’ve been told you are greedy and selfish if you have more money and don’t share it with others.

  • Your self-worth gets tied to how much money you make: You’re worried that you are not important enough if you don’t make a certain amount, but you're a snob if you make too much, and your friends and family may not like you.

  • You are living life for other people's expectations rather than your dreams: You keep holding yourself back for the fear that you won’t please your family or peers based on your choices.

  • You fear taking risks and failing: You've been told that taking risks is foolish and you will probably fail, so you refuse to take the leap and see where it takes you.

I'm sure some, if not many, of these ring true for you, and you had no idea that these thoughts were linked to you having money blocks causing financial despair.

You consistently hope for more money so that you don’t have to live paycheck to paycheck and would love to have significant savings and investments.

No one wants to struggle and worry about money.

Understanding why this happens and how to move forward and achieve your financial goals is essential.

Action Step 3: Grab a notebook or journal:

Complete these steps:

  • Go through the above listing of money blocks and write down the ones that resonate with you.

  • Add any other thoughts that have come to your mind as you read through the list.

  • Review your list. Under each money block, write down how the thoughts may have impacted your finances.

Now that you better understand where money blocks come from, let's dive into how to remove your money blocks.

Remove The Root Causes Of Your Money Blocks And Learn How To Reframe Your Money Thought Patterns

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Money blocks are a problem for many people. The root cause often stems from negative thoughts about wealth and spending.

To remove these blocks, you have to shift your subconscious mind so that you can start attracting more money into your life.

Sounds simple, right?

However, getting stuck in a cycle of being unable to spend money or even having trouble finding the funds to save is common. It can lead to stress, anxiety, and a feeling of overwhelm.

The first step is to identify the root cause of your money blocks. It can be a challenging step. You will need to become honest and vulnerable with yourself.

Action Step 4: Grab a notebook or journal.

Complete these steps:

  • Write down your thoughts and feelings when you mention anything about money.

It can be the slightest comment, such as "No, I can't get a candy bar today because I need to buy a loaf of bread."

How did you feel after you said the comment?

Did you feel miserable because a candy bar is not that expensive, but you still couldn't afford to buy it? Mad because you can't afford to buy a candy bar?

The importance of this exercise is to start becoming aware of your daily patterns in how you view money.

  • Listen to how others around you talk about money.

If someone negatively talks about money, do you feel more comfortable around them because they understand your views on the topic?

When someone negatively talks about money, reframe their comments in your mind, or write them down so you can reframe them later.

For instance, Jane mentioned how her taxes on her house are going up and how frustrated she is because she feels it will be harder to pay her tax bill. It sounds like a valid grip, but let’s reframe the comment to make that statement positive and powerful.

  • Reframe negative comments around money:

Here’s how to reframe Jane’s comment:

"Even though Jane's taxes are increasing, I trust that the money is being used to fund the community for better roads, school programs, park districts programs, etc. I look forward to seeing the changes that come from the additional funds."

Continue to work on reframing the thoughts of those around you so you don't continue to accept their money blocks as your own.

  • Each day, take action to reframe your thoughts about money.

Review your notes from your notebook or journal. What negative thoughts have you had, and how can you change them to more positive beliefs around money?

For instance, let's go back to the above example, "no, I can't get a candy bar today because I need to buy a loaf of bread."

Here's How To Reframe the thought: "I'm thankful I have a choice, and I can choose to buy this loaf of bread or a candy bar today. After thinking about the candy bar, it is full of junk ingredients that I don't want or need. Today I will get the loaf of bread, and next time I come to the store, I will have the choice to get a healthier treat option that I would enjoy more."

In the reframe, you are letting yourself know that today your choice was to buy a loaf of bread and feel good about that choice. Your feelings are different (in a good way) because you allowed yourself to choose how to spend your money.

You are not depriving yourself of the candy bar but instead letting yourself know you have the option to choose.

  • Find people to hang out with that have a healthier mindset around money.

This can be a scary task. We often feel that people with more money than us look down upon us. And that couldn't be further from the truth.

You don't have to hang out with millionaires (not yet, at least), but find people that talk positively and are excited about money, having it, and spending it.

Find people who invest their money. Listen, ask questions, and learn how they got started (you don't have to have a lot of money to start investing).

Start talking about opportunities to bump up your current income.

This could be as simple as putting a dollar a week into a savings account. It sounds small but feels so good as it adds up.

Now it’s time to kick your money blocks to the curb.

Overcome Your Money Blocks And Become A Financial Superstar

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It's not easy to overcome money blocks. It will take work. You must monitor your money blocks regularly to avoid getting off track.

It's important to note that money blocks don't just affect people who are struggling financially but can also affect people who have more than enough in their bank account and don't need to worry about being financially stable for the rest of their lives.

As we have discussed, money blocks can be the result of a lot of different factors.

It can be due to past experiences, your current financial situation, or even because you haven't learned how to manage money.

Now that you know how to identify your money blocks and where they come from, you can take steps to change how you think and manage money.

Denise Duffield-Thomas, who is a leading money coach in the money mindset topic, suggests these three steps to start overcoming your money blocks:

Action Step 5: Become aware - Grab your notebook or journal. Complete these steps:

  • Cultivate awareness: jot down what you feel are your biggest money blocks, then ask yourself if that is a true statement.

For example, You write, "There is no way I can make more money."

Now ask yourself, is this a true statement?

I will assume it is false, and you can make more money.

You can apply for a higher-paying job or pick up a side gig. Maybe you have a creative flair and are good at writing or making things. You could offer your writing services or sell your products to make extra money.

There are endless opportunities to make more money if you decide to take them.

  • Find your sabotage: how are you sabotaging your money success? Do you procrastinate when it comes to stepping outside of your comfort zone? Does the thought of starting a business, not getting a promotion, or looking for a new job stop you in your tracks for fear of failure?

  • Uncover the origin story and break the pattern: do you wonder why you can't have the level of success others have? Find people that inspire you, and keep you motivated. Watching other people's success motivates you to take action and dive into the next step, which can break your money block wall and get you doing the things that will increase your bank account.

It's essential that you work on your mindset every day. As you continue to work through your money blocks, you will notice how naturally the thought process comes and how you can quickly change how you react and move past the negative thoughts that hold you back. It’s time to use your superpowers and jump into action.

Create An Action Plan That Helps You Reach Your Money Goals (And Feel Good About It)

Action Step 6: Putting the pieces together - Grab your notebook or journal.

Now it's time to take action, work through your money blocks, and start working toward financial freedom.

1. Get Clear On What You Want:

Here's how:

Make a detailed list of what you want to achieve in the next year. You know you want more money, but what does that look like for you? Do you want a better-paying job? Have you always wanted to start a business?

Does your current job fulfill you, or is there something else you want to do?

Get as detailed as possible about your dreams and how achieving those dreams can change your life and your relationship with money.

Remember, it's not only about making more money. It's about what comes with making money. Will you be happy and satisfied with your choices?

2. Create An Action Plan:

Here's how:

Review your list and break down your top three goals you want to achieve in the next three months:

Here's an example:

Goal 1: To sell three pieces of your artwork for $75 each.

Steps to reach goal 1:

  • Research:

    • How much are similar products selling for?

    • Where have other artists had success selling their artwork?

    • What type of designs has the most interest?

    • How quickly is the artwork selling after it is posted?

    • How can I accept payment?

    • How long before I receive payment?

    • Will I be shipping the artwork?

  • I know I reached my goal when I:

    • Sell all three pieces of artwork and earn $225.

  • How will I feel when I reach this goal:

    • I will feel successful and more confident. It will give me the courage to continue pursuing things I love.

3. Take Action And Make It Happen:

Here's how:

  • You have completed your list of goals for the next three months. It's now time to get moving. Select a goal you want to achieve first.

  • Review each of your steps for the goal and take action to complete at least one step (if not more) each day.

  • Mark your steps off as you complete them. This will help your brain realize that you have completed a step and are ready to move on. It provides you with a sense of accomplishment.

4. Start With Smaller Steps:

Here's how:

It's important not to rush. Take your time, work through each step one at a time, and listen to the feelings you are experiencing as you complete the steps to reach your goal.

If you start feeling overwhelmed, stop, take a deep breath, and write down what you feel and why you think you feel that way. Do not ignore your feelings and create more money blocks for yourself.

As humans, it's natural to want to shut down if things feel hard to do. You don't want to shut down.

If you feel the need to shut down as you work through your goals, revisit the earlier steps (1,2,3,4) to understand where your overwhelm may be steaming from.

And remember, Rome wasn't built in a day, and neither will your bank account.

5. Stay Focused And Keep Your Eye On The Target:

Learning how to deal with and overcome money blocks is not something that comes quickly; more than likely, you will continue to have some form of money blocks to work through as you grow your income. The more money you make, the more fear likes to creep in and try to throw us off course.

Remember to stay focused on what is important to you and only you. Your relationship with money is ready to take off.

Maintain A Healthy Relationship With Money And Build A Bank Account Like Warren Buffet

A graphic design image with a large orange bag with a dollar sign on it. A lady holding up a large gold and orange coin with the a dollar sign in it. There are purple leaves and green dollar money stacks

Envision the day you check your bank account and see the added zero’s to the end of ($1)000,000,000+. Doesn’t it look and feel fabulous?

Imagine the feeling of having financial freedom and the financial security you have always dreamt of. It gives you a sense of calm and confidence that you have achieved this huge financial goal.

Having a positive mindset does not mean you will magically achieve your dream without doing anything. You need to put the work in, gain the confidence to make changes, take risks, and continually take action steps toward your goals.

You have the tools to get started. I know you can do it!

Now it’s time to get started overcoming your money blocks. Go back to action step 1, grab a notebook or journal, and list your fears and wishes around money.

By following these steps, you can have a healthy relationship with money and a fat bank account.

Become A Money Master - Resources To Help You Overcome Your Money Blocks

There are many resources to help you work through your money blocks.

To get you started, these are resources we love:

Money blocks FAQ

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Question and answer image with the questions "How do I know if I have money blocks?", "what is an abundance block?"


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