Your money mindset is one of the most important elements driving your income. As we say in The Coach Business Guide, The Path to Launch and Grow Your Coaching Practice, “You will only charge for your services what you believe in your mind you are worth.”
This is an absolute truism and minding your money mindset is one of the best things you can do to improve your income.
Your Money Mindset drives your income.
The Struggle Begins with YOU
Well, of course it does. You knew that already. You likely have countless pieces of evidence, and you have probably worked on it for years through coaching or training or whatever else you have tried. It always seems to be the hardest part of your business.
Why is it that you keep bumping into your own glass financial ceiling over and over again?
Family Conditioning
Much of what you believe about money has come to you through conditioning and how money was used within your family. Our parents each brought to the family dynamics their own money programming. They passed that on to you and it is very likely still playing a huge role in your life and business.
Money means what we say and think it means. You know how we know? Because it’s just paper and metal coins, after all. It’s only when we look at it or try to exchange it for something that we get to determine its value. Otherwise, it just sits in our wallets or bank accounts, largely ignored.
Think about how you grew up with money. Was there enough? Were you aware of lack? Do you see evidence of your early life with money in your present circumstances? Pondering these questions about money will help you see the influences that formed your money mindset.
Partner Dynamics
Not only is your money mindset formed by your parents and other family growing up, it’s also impacted by any significant others in your life. They, too, bring their family conditioning into how they think and behave around money. You don’t have to look very far to find couples with money problems do you?
Consider your partner’s approach to money. How does it impact your buying decisions? Does it limit you in any way when it comes to growing your coaching practice?
Exploring your relationship with money will help you understand your money mindset.
Your Money Relationship
There are other things that may cause you to struggle with charging what you’re worth. Exploring your relationship with money will help you understand your money mindset and how to overcome blocks you may have. Working with a coach will help, too.
In her best-selling book, You Are a Badass at Making Money, Master the Mindset of Wealth, Jen Sincero says, “Money is one of the most loaded topics out there — we love money, hate money, obsess over money, ignore money, resent money, hoard money, crave money, bad-mouth money; money is rife with so much desire and shame and weirdness it’s a wonder we can utter the word above a whisper, let alone go out and joyfully rake it in.”
Thinking through your money relationship is the first step in changing it!
Check out The Coach Business Guide: The Path to Launch and Grow your Coaching Practice, Chapter 14 – Planning your Financial Success for more information and help.
Great article that invites reflection on not only one’s own money mindset yet the systemic influences: family habits that formed our mindsets and clashes with those we share our present lives.
[…] your personal money mindset is really important. The truth is, you will only charge what you feel you are worth. Exploring your […]