89: How To Uncover Your Hidden Money Block

If you have any fear or worry about spending, earning, saving or investing money you probably have some hidden money blocks.  If you want to find out how to uncover your money blocks this episode is for you.

In this episode you will learn:

  • What money blocks are and how to find out if you have them
  • How to identify what your money blocks are
  • The most common money blocks
  • The quickest way I know how to let your money blocks go

You can listen to the episode above or read the unedited transcript below.

Transcript

How To Uncover Your Hidden Money Blocks

Meaghan Smith  00:20

Hello, beautiful people. And welcome to another episode of the Money Mindful Podcast. I am your host, Meaghan Jean Smith. I'm a money mindset coach for women, I help women create a better relationship with money and a better relationship with themselves. Because when women make more money, the world is a better place. So if you're a woman, and you want to make more money, you are in the right place. Today, we're going to talk all about money blocks, what money money blocks are, how to identify them, how to find out if you have them, and how to let them go. So first up, let's talk about what money blocks actually are.

 

Meaghan Smith  01:18

In, I hear people talk about money blocks, and sometimes I think, yeah, but what are they referring to? Like? What do they mean when they say money blocks, so I'm going to give you my definition for a money block. And that's going to be the anchor for what I'm talking about today on the podcast. So my definition of a money block is any thought that you have that you are aware of or not aware of either way that isn't getting you the result that you want, right. So any any thought that you think about money, that doesn't help you create the money that you want in your life, that is a money block. And it can show up in lots of different ways. And I'm going to go over that in a minute. But basically, the very first way to uncover your money blocks is to just be willing to, like, identify them to dig around a little bit and be willing to acknowledge that you have money blocks, right, like that's, that's step one. And a really great way to just add a really quick way to identify if you have money blocks. And I love what Polly Alexandra, I was recently listening to a talk by her and she described how to identify money blocks, as if you have any fear, or worry around spending, earning, saving or investing, you have a money block. And I think that's a really quick and effective way to identify it. And so let's go over some of those areas just to create a little bit more clarity around what a money block is and how to identify it.

 

Meaghan Smith  03:46

But first, let me just clarify one point before we move on. And that is that the thing about money blocks is that they're hidden were tricky little things is that they're actually hidden, like a lot of the time we don't even realise that we have a money block. We just can't work out why we're not making the money that we want to make. And I'll go into that in more detail in a minute. But for myself included, we have money blocks, but we just don't realise we have them. Okay, because nobody is walking around intentionally thinking, Oh yeah, I have a money block and I want a money block.

 

Meaghan Smith  04:43

We have money blocks and we don't realise we have them. So that's the first port of call is just identifying that money blocks exist and being willing to discover your money blocks and being open. open to exploring and being open to looking at the way that you think, and the truths in your life from a new light. And I would go as far as to say, be willing to be wrong. Right? Because what got you to where you are right now today with your experience with money, is the way that you think about money. And, you know, sometimes people talk about things like, you know, go back and see what happened to you as a child. And I see that there is some, there's space for that there's room for that. But in this case, sometimes I think, you know what, it doesn't actually matter where the money block came from. If that helps you and you feel like you want to explore why you have a particular block and where it's originated from, go ahead, knock yourself out and go and do that. But in my opinion, I don't think that that is necessary to overcome a money block. It's, it's like, Who cares? Who cares where it originated from, like, whether it was from old family stories about money, whether it was about something you heard your school teacher, say in grade three, whether it was just something that you watched on Home and Away or Neighbours, and it just an idea that you took on as a kid, that money was hard, it doesn't matter where it came from. The point is, you have one, it's not serving you. So let's find it, uncover it, and go through a process to let it go. And create a new way of thinking and being that gets you the results with money that you want. So I'm just going to recap what I said before about how to identify if you have money blocks. And basically it's, if you have any fee, worry, doubt concern around saving, investing, earning money, or you just simply don't have the money that you want in your life, then you have money blocks, right, I have money blocks to, okay, doesn't matter your income level, you can still have money blocks, it's not about the level of income that you earn, you can have money blocks at any income level. All right, it just means that we're experiencing a result in our life that we don't want when it comes to money.

 

Meaghan Smith  08:18

So I'm going to go over some common money blocks that I see that I've experienced myself. And that also, I see my clients experience. And just common ones that I think that you'll be able to relate to. One really common money block is connecting our self worth to our net worth, they're not connected. Right? So we make our net worth, mean something about ourselves. And this is a really common money block because our net worth has nothing to do with our self worth. Like were 100% worthy, you know, we're born, where we're 100% worthy always whether you think that or not. And I know that a lot of us women, I see you, because I've been through so much of this myself. We we place we have a lot of thoughts about our self worth, and a lot of us don't hold our self worth really high in value, right?

 

Meaghan Smith  09:42

Which is something we've got to stop. And we've also got to stop connecting our net worth with our self worth. Because when we connect the two, we get ourselves confused. We block ourselves from making more money. And then also there's some other stuff that goes on about our own self esteem and the way that we think about ourselves and the way that we treat ourselves, okay? This is why I think money is such an amazing area to explore for women in particular, because it just uncovers so much other stuff about how we actually think and feel about ourselves. And it's actually not even connected to money. Right. So another area that is a common money block is shame, like shame around money. And again, this can show up at any income level, we can have shame around money for not feeling like we have enough money. And we can also have shame around money for feeling like we have too much money. It's a really interesting emotion that shows up a lot around money. And it's all to do with how we think about money, and nothing to do with the actual concrete, tangible item that is money, right? Like dollar bills, dollar bills, don't make us feel shame. It's our thoughts about money that create that, and then that creates a block for us because we do or don't take particular actions around money. Because we think we'll feel shame, or we don't want to feel shame, right. So that's a really big area that is worth exploring, and a really common money block area. Now another area where money blocks show up and money blocks, too. It's like money blocks are thoughts that we have the thoughts that we have, that just aren't in alignment with what we want to create in our life. It's really that simple. And it's doesn't mean that they're good thoughts or bad thoughts. They're just thoughts that aren't working for us. And I'll give you an example.

 

Meaghan Smith  12:21

Many, many years ago, when my partner was studying in medical school, I used to go and stay at his house with his flatmate who was also studying for in medical school, and it was freezing cold. It was in Tasmania, and they were students. And also, I don't know they got I do find this men in my, the men in my life don't seem to feel the cold. I don't know what that's about. But I will go for a walk with my dad and he'll be in a T shirt, and I'll be in a jacket. Like what's happening there. I don't know what that's about. But I would be at my partner's house in Tasmania, freezing. At the time, I was studying to be a teacher and I used to sit in his bedroom with the electric blanket on because they wouldn't turn the heater off. Well, they would turn the heater on when I was there, but I don't know it just never seem to heat the house up. And I just remember always being freezing there. And I'd be huddled either in my partner's bed with the electric blanket on studying or I'd be in the lounge room chatting with them with a blanket and a jacket over me it was ridiculous. But anyway, we were both in this study stage where I was studying to be a teacher and he was studying to be a doctor and his flatmate. This one time I was there happened to be looking on some sort of employment website and he started talking about how much doctors earn for just doing short placements. It's called locum like they go and just work somewhere, casually just to fill in a position and the amount of money I can't remember what it was, but the amount of money that whatever it was back then was more than I would have earned in a week as a teacher, and they would have earned that in a day as a doctor. And I remember distinctly being freezing in that house, on the couch wrapped in a blanket just feeling this kind of shame and inadequacy because the thought that I was thinking then was I will never be able to make more money than my partner. Because he's a doctor, and I'm a teacher. While we were both becoming he was big Coming in Doctor, I was becoming a teacher. And I just thought that that's the way it is. You know, like, even as a principal, like, if I got to the level of being a principal, that's what we call head teachers here in Australia, the ones that like the boss of the school, even at that level, my partner's income at, like, the top level that he could get to is would still be greater than that. And I remember just feeling so inadequate, and also just thinking, but that's just how it is. That's just how it is for me, like, because I'm still I'm going to be a teacher, and he's going to be a doctor, that my friend is a money block. Because that's actually not true. That was just a thought that I was having. And I just believed that that's the way it is.

 

Meaghan Smith  16:03

And this is the work that I want you to do. Because I bet my bottom dollar, that you have thoughts that you think that that's just the way it is. And it's not the way that it is it's just a thought that you're having that you believe. And because back then when I was freezing my ass off on the couch, and my partner's house in Tasmania, I believe that I thought that that was the truth, I, I didn't realise that what I was thinking would just my thoughts, and they weren't actually the facts of life, I had no concept that actually it's totally possible to earn more money than your partner, even if they are a doctor, right? But no other but when you when you're in that money block like I was then it didn't even occur to me, I didn't even have access to any other avenues of how I might be able to make more money a different way, or, you know, invest money. I mean, there's so many ways you can make money. But that just was not even anywhere close to being available to me and the way that I thought because of that money block that I just had this belief doctors earn more money than teachers, that's just the way it is. Boom, end of story. There's nothing to see here. And this is why I say to you, so often be willing to be wrong about money. Because when you're willing to be wrong, that's when you're able to uncover the stuff that you think your money blocks and get over it like a move through it, like do something about it and change. Okay, another really common money block. And this shows up in another way that you might not realise is connected with, with money, but it does stop you. earning more money is fear of judgement, right fear of what other people think fear of being seen. I'm just wrapping this up into one package of fear of judgement. Right? Look at business, for example. If you're in business, when you're in business, that's how you create money, people find out about your business and what you offer. But if we have money blocks, like we connect money to our self worth, or we have blocks like we fear being judged, we won't put ourselves out there. But money needs to see you to come to you. If I'm going to use this analogy, like talking about money like a person. Right? If somebody doesn't know about your product or your service or what you sell, money can't come to you right because it doesn't know where you are doesn't know how to find you. And that's a huge money block, especially for women who don't want to put themselves out there like we're scared to promote our business or we're scared to make offers or we're scared to tell people what we want we're actually selling because we connect again, like we connect our product with our self worth. And those two things aren't connected either. So much the story much work that you do. Do around self worth. And I continue to do this work, it's a practice. But that's the beautiful thing about money blocks is you can, you can just meet yourself where you're at and uncover, you can just uncover one thing and have a breakthrough. And then you can just uncover another thing, have another breakthrough, and so forth. But it's work that, for me personally, I think it's just a continuum of work that I'll always do. Because I always want to evolve to the next level of where I'm going in what I create in the world, how much money I create, how much impact you know, at every, at every level, so to speak of where I where I get to, then there's new new blocks appear

 

Meaghan Smith  21:02

that I wasn't ready for. Before, you know, like, because I was working through the level that I was on before, I'm thinking video games now coming to me in my head, but I've just been watching the Jumanji movies with my kids. And so I have this concept of of video games, you've got to get through one level first, like you got to get through one level of money blocks, like the surface level, and then once you've got through the surface level of money blocks, and you get to the next level of the game of life, so to speak, and then work on the next level of money blocks. And I think that's a beautiful thing, because we're always able to just evolve and, and change. I actually think that's, I think that's a great thing. Whereas I know that some people think, Oh my gosh, what do you mean, I have to keep working on this? Like, can't I just like fix this overnight, and then never have a money block. And I think that there's truth to that in the sense that yes, you can overcome a money block and completely Transform, transform, sorry, transform your life. But then we can have money blocks at any income level, right. And new things arise at different income levels, I think that we didn't know because we weren't at that income level, so to speak. Anyway, let's just reconnect with where I'm going with this and and the process. So basically, the way to uncover your hidden money blocks in summary is one identify if you actually have them. And I'm just going to be bold, and put it out there and say, you've got them. If you if you out into money and making money and you love like being abundant in your life, and you're not really feeling that on the daily, and there's still things that you want to achieve with money, or you're not earning the income that you want, or that you have any kind of fear or blocks that come up, like you want to buy something like a course, and then you be scared to spend the money. That's a money block, right? I've never met anyone without money blocks seriously, I haven't.

 

Meaghan Smith  23:35

Maybe these people exist. And if I find someone, I will definitely make sure I put you on to them because I want you to know about them. And let's all learn from them. But we all have money blocks, right? No big deal. But let's identify them so we can move on. Right? So step two, is identify what they are. Okay. And you the best and quickest way I know how to identify what they are is get coached, get somebody to coach them. When you know the skills of how to coach yourself. You can do that yourself. And that's what I teach my clients how to do I teach them how to coach themselves so they can identify blocks themselves. Like there's a process that you go through, where you you literally go straight to the root of the cause, like a process that you follow that uncovers what the block is right? And you can do that on your own. But sometimes it's it's easier to do it with a coach. Right And also, we just sometimes we just can't see our own blind spots. So that's why having a coach coach you through and show you like this is this is your money block right now. That's a really great way to just get there quickly, like, find it quickly. Because the next thing is, is once you know what your money block is, and you're aware of it, then you can do something about it, you can create a new way of thinking, and being and behaving to create a new result. Right, that's the beautiful thing. That's why you want to discover what your money blocks are. And then the final step is, in this process of how to uncover your hidden money blocks, and why you do this is letting them go. I like once you know what your money block is, then the final step in the process is letting it go, let the let that block go. And then it no longer is a block. Right. And that's a beautiful, beautiful thing. Because then you start creating the money that you want, and creating the abundant life that you want, at any income level. Any income level, I hope you can hear me on that, right. But when we clear our money blocks, we can change our income level, because we don't have the block in the way.

 

Meaghan Smith  26:25

Okay, so I said that the quickest way I know, to find out your money blocks is to get coaching. And I've got some really good news for you. Because I'm running an open coaching call, I am so excited about these. So many of you have already signed up for the coaching call that I am running through the pay it forward life coach University. So this is a platform that I contribute to fairly regularly once every once or once a month, or every couple of months, I go and teach or do a coaching call on this site. And I absolutely love this platform. I love the premise of it because it's pay it forward. So this open coaching call is free. It is free for you to come and volunteer you can come you can get coached by me certified life coach, or you can come and just be a part of the call and watch others getting coached. And I've got to say that is so is so powerful as well. Because the thing about watching other people get coached is when you see someone else getting coached, you're not as attached because it's not you. It's not your life. It's not your issue. And but so many of us, especially because it's money, it's an open money mindset call. Everyone's going to be getting coached on money. And you can for sure guarantee that someone who volunteers to get coached somebody who's watching has the same problem. And it's almost like you're getting coached just by watching the other person get coached because you get to make your own discoveries and realisations for yourself. So even if you like, you're not sure that you want to, you're ready to get coached in front of other people come and be a part of the call. Because you can learn so much you can change your relationship with money and yourself just by watching somebody else get coached. So here are the details. It's through the Life Coach university.com. And I'm running it this this Wednesday, I can't yet this Wednesday, the 28th of July. It's at 11am Australian Eastern Standard Time. So I will put a link to how to register you have to register to attend this coaching call because you need to get the link to attend. And I will put the link to that in the show notes. So you just go to money mindful.com.au forward slash podcast 89 that will be this episode. And you can get the the link to register will be there. The link to register is also on my Instagram and you'll be able to find it on my Facebook page as well. So calm and volyn To to get coached. Let's unblock your money blocks. Yeah. So fun. So fun. All right, I can't wait to see you at the call. And until next time, have a beautiful week. Bye Bye.

2 Comments

  1. YvonneJuly 27, 2021

    Thank you for sharing this podcast on uncovering your hidden money blocks.
    I found a belief
    “I am / feel ashamed of having a lot of money”
    It stems from “Having a lot of money is shameful”

    Reply
    1. Meaghan J SmithJuly 28, 2021

      You’re welcome Yvonne. Now you have found the thought, you get to decide if you want to think something different.

      Reply

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