- If you have been trying to improve your financial situation for years and have not made much progress, you probably have the fear of more money. And the scariest part is that most people have no idea that they even have it! I had the fear of more money. Many of the people I have mentored began with this fear. It's extremely common yet few recognize it's power because consciously, just about everyone wants more money. The difference lies in the subconscious mind, where your emotions are associated to thoughts. Deep in your mind, you may actually associate negative emotions to having more money. This is NOT silly psycho babble, this is very, very real and has been proven through scientific experiments. Get a complete understanding of the fear of more money, along with how to diagnose it in yourself and subsequently cure this financially destructive phobia in the video below:
The Fear of More Money
If you have been trying to improve your financial situation, but you just cant seem to make any progress. You most likely have a fear you aren't even aware of! This fear is the broke/poverty mentality so many people have, also known as the fear of more money. This is often a huge problem when trying to build your stairway to success.
If you set a thermostat on your air conditioning system to 72 degrees, and the temperature in the air is below 72 it will not click on. As soon as the air temperature goes above 72, the ac kicks on and works to bring it back down to 72 degrees. When it comes to the fear of more money, people tend to have this in reverse. Most people have a number in their mind pertaining to the cost of their housing, their car, their food; the amount of money needed to be able to survive per a year. They may not be happy with the number but they know that if they at least make that much they will be ok. So when they reach the amount in their head, they tend to stop or slow down.
Researches at IBM took people that were making 40,000 a year that had complained they were overworked and underpaid and gave them each a $10,000 raise. They expected people to work harder because they were getting paid more. Many of these people had the 40,000 mentality so when the money went up to 50,000 they worked 15% less. This study proves just how big of a problem the fear of more money can be.
The Reason Why
Why is this happening? If you look at your IRS tax records for the last few years and they are all the same, even though you have been trying to make more money, then you are probably suffering from the fear of more money. You have an association with money. An association is when something in your brain is linking to money. That association is dictating your relationship and emotions tied to money. So your association is probably, “Some money is ok, but too much money is a problem.” Deep down you have associated something negative with more money. Maybe you associate money with more problems, more responsibility, your friends will be jealous, filthy rich, etc. Your brain has been trained to believe that a certain amount of money is ok, but too much is a big problem.
There shouldn’t be a whole lot of negative associations with more money, there should be a lot of positive. More money could give you the opportunity to bless others, more choices, and more freedom. More money could bring so many positive things, but the problem is, you have associated a lot of negative feelings with making more money.
I often see people get angry over other peoples’ wealth. They have a negativity towards people that come into money as if it was a bad thing. When people win the lottery, most winners, end up being broke within a few years. Most professional athletes go broke within a five years of their playing days because they make all the money when they are young and have a broke mentality.
We need to associate more positive things with more money in order to rewrite the script of making more money in your brain. Doing this can help you to stop self-sabotaging yourself when it comes to earning more. Think of Some positive things that could occur if you were to have more money. I personally, want to be a better husband, a better father, a better person all around. SO if I am striving to be better in all other areas of my life, why shouldn’t I be trying to grow and develop financially. Life can be so much more efficient, freer, by making more money.