Today I’m sharing the lowdown on how to call BS on your old money stories so you can genuinely change them for good. Identifying what you think about money is only the first step. Listen in to hear a little known technique how to create a new money belief system so you can make more!
In this Money Mindful podcast episode, you will learn:
- How to identify old money stories & beliefs
- How to disprove old money stories & beliefs
- How to actively crush the old beliefs so you don’t believe them anymore
- How to create a new money belief system/ story so you can make more!
You can listen to the episode above or read the unedited transcript below.
How to call BS On Your Old Money Stories & Change Them For Good
Meaghan Smith 00:22
Hello, and welcome to another episode of the Money Mindful Podcast. I am your host Meaghan Jean Smith. I'm a money mindset and life coach for women entrepreneurs, women in business and women who are aspiring to be entrepreneurs or have their own business. I help you change your money mindset so you can create the money and the life that you want. Welcome, welcome, welcome to the show. If you are a longtime listener, so stoked to be with you here today. And if you're new, you're in for a treat, because this is a pretty amazing podcast, if I do say so myself. And you are welcome here and you're going to learn some stuff about money, mindset, and how to change your money mindset so you can make more money. Okay, before we get started with the episode, I would just like to ask you a big favour. If you are somebody who's been listening to the show for ages, and you love it, please, can you go and give it a review on iTunes. And if you have already, thank you, thank you, thank you so much. I love reading the reviews. But more so, I love seeing reviews get put up there because it helps other people find the show and it helps other people think Okay, this show must be okay, I'm going to check it out because there's reviews there. And I want more women making more money. So I want the women listening to the show. So please help me spread the word.
Meaghan Smith 02:08
All right, let's get into it. I want to talk to you today about really calling BS on your old money stories. Now, this is a bit of an advanced concept. I'm going to break it down into its simplest form for you, in the simplest way I know how, okay, only because if you're new to thought work, and you don't understand how thought work works, there might be some concepts I'm talking about, that might be a bit trickier for you to grasp. But that's okay. Follow along. If you've been listening to the podcast for a while, you would have heard me banging on a lot about thought work. So I think we're good. Okay, so basically, what happens in our life, like the experiences we have with money are created by what we think about money. Okay? This is the first concept you've got to grasp here. Like the money that we earn, is because of the way we think, right? I mean, make no mistake, the reason why people who've grown up in wealthy families generally have more money than people who've grown up in middle class families or families with not much money, it's just because of their beliefs. It's about what they've grown up believing. Right? It has nothing to do with your ability to make money. It's just what you think about money. Right? Are you following me so far? So if you want to make more money, first of all, you need to be on to yourself and and figure out what it is that you already think about money.
Meaghan Smith 04:01
Now, I've done episodes on this before, so I'm not going to go into that in too much detail, alright, but in a nutshell, when we start asking ourselves questions like what do I think about money? How much money can I make? What do I think about poor people? What do I think about rich people? What did my parents teach me about money? When you start asking yourself those kind of questions that will reveal for you what your money story is, right? Because the answer to those questions is what you believe about money. Okay. So, even if I just ask you, what do you think about money, the first thoughts that come to your mind, they're part of your money story, right? So if you've got thoughts like: money scares me, I never really make much money, I've never been really great with making money, I'm not good with money, right? That's just a story, okay? That's a story you've been telling yourself over and over again. And when you tell a story over and over again, what your brain does, because your brain is frickin' awesome, so efficient, it's going to filter information, like, what's it called, confirmation bias, right? It's going to filter information that matches your beliefs. So what that looks like is if, for example, you think you're bad with money, and you happen to miss a payment on a bill, right, your latest Optus bill, that's a telecommunications, a telephone service here in Australia, you miss a payment, right, you get a late notice on your bill. And you make that mean, see, I am bad with money. See, I didn't pay my bill on time. And then because you think you're bad with money, you don't stay up to date with checking your bills, like you don't have a system that you follow through, right, and you create more evidence for yourself that you're bad with money. The funny thing is, though, with these kinds of things, is there's probably 11 other bills throughout the year that you got where you paid them on time. But you're not using that as evidence to say that you're good with money. Right? So if you want to change your money story, you've got to stop confirming, and looking and finding evidence for your current money story.
Meaghan Smith 06:52
So let me give you an example that I have gone through this year, which, oh my gosh, can I tell you, has been frickin' life changing? Because, listen, your money story is made up of a lot of different beliefs, right? Not just one, like I'm not good with money might be one of them. Or, you have to work really hard to earn money. You might have some deep seated stories about rich people are arseholes, or, I don't want to make more money, because then none of my friends and family will like me. It's amazing the stuff that comes up when you start exploring this, right, like there's for sure stuff sitting there under the surface that you're like, Whoa, I didn't even realise that, I wasn't even really aware that that's what I was thinking, right. And once you start doing that, it's so so frickin' helpful, because you can start to see why you don't make more money. Because you start to see, Oh my gosh, I'm equating making more money with a terrible life, like having to work a bazillion hours a week, or that I'm gonna lose all my friends and family, or that it's going to be really stressful, because I'm going to have a huge responsibility in my job or whatever, just for some examples. This is why you're not making more money, when you start picking it apart, right. But once you've picked it apart a little bit, and you've identified a belief in there that you've got, like, I'm not good with money, for example, the way to change this money story is - there's a couple of things you could do. First of all, you can just rewrite yourself a money story that you want. Like, literally grab a pen and paper and just write down how you want to think about money, you can just decide, you can just decide to think that you're amazing with money, you can just decide that you make a fuck tonne of money, you can just decide that money comes to you easily, that making money is simple and easy. You can just decide to believe those things.
Meaghan Smith 08:59
But here's the little hook, the little catch is that if you are entrenched in your old money story, and they are deep held beliefs, you can create a new money story that sounds beautiful, that money is simple and easy to make. And that's totally something that you can do and should, and sure I hate using that word should, but you know, it is a good idea to write a new money story, what you want to believe. But you need to start disproving the old money story to move into the new money story and actually create it and this is how you do it. I'll give you my example in a sec. You have to look for evidence that disproves that story.
Meaghan Smith 09:51
Now, this is what I was saying. So I don't want to get ahead of myself. Sorry. So you want to pick like one belief in there, right? You can do more than one, but just do one at a time, right? So just pick one belief, one thought that you have, for example, I'm not good with money. And then you want to start disproving that belief every single day, until you no longer believe that belief anymore. So here's some examples, right? So you want to find evidence, but you also want to actively disprove that belief. And this is going to create some level of discomfort, okay, just warning you here. So the thought, I'm not good with money, well, every day, you need to find evidence for how that's complete BS, that you are good with money. And you need to document and write it down, like every single day, and how to disprove it. Now, that could be as simple as Well, I'm going to look at my bank account today. Right? I'm going to create a system to pay my bills, I'm going to set up automatic payments, so I never miss a bill again. Right? Or, I notice that I got paid, and I didn't spend all my money, I still had some money left over before I got paid again. You just start disproving it, you find evidence for the opposite, for how you're good with money. And, like I just said, and I'm going to keep ramming it home, is you just keep doing it until you change your belief. Now, this is what I did earlier this year, which was just, Oh man, it blew my mind and was instrumental in completely changing the way that I show up, and how I do my business.
Meaghan Smith 11:57
So I have had a long held belief, and it's still, what am I trying to say, it still comes up for me on occasion, okay, but it's like now I'm on to myself. I just always thought that there was a right way to do things. That was a thought that I had, like in my business, there's a right way to do things. Right? And I just was always looking for the right way to do things. And by the way, lots of people have this belief, because we get taught this when we're growing up in school, that there's a right way to do things, right? You want to solve that maths problem, this is how you solve it. There's actually lots of different options, lots of different ways that you can problem solve a maths, you know, problem. But often we're taught No, this is the way that you've got to do it, and if you don't do it this way, it's wrong. And I've just grown up believing that, that there's a right way to do things. I used to really struggle with swearing, like in my personal life, I swear all the time, right? I'm a swearer, that's what I do, that's how I talk. It's my natural vocabulary. But I used to work as a teacher and you know, you can't swear, when you work with little kids. It's frowned upon.
Meaghan Smith 13:23
And also, you know, some people don't like swearing. I love it. I gravitate towards people who swear. If I see somebody swearing in their marketing, or I'm like, Oh, that's my person, I love them. But I really struggled with this in the beginning, because I had this sort of idea that there's a right way to do something. But then it's really confusing, because I was kind of like, well, I probably shouldn't swear because, you know, that's not what you do. But then I would see people who do swear. And my brain kind of has a little glitch, you know, it's like er, er, er, freaks out because it's seeing contrary information to my belief. But anyway, I don't want to get too distracted, but basically every decision that I was making in my business, I kept making it from this place that there's a right way to do things. And I gotta say that's paralysing, and it slows you down so much. It slowed me down so much because I was constantly evaluating, like looking to find the right way to do something. Like if you're going to write an email, or if you're going to do online marketing, there must be a right way to do it. And I was always looking through this filter of the right way to do it.
Meaghan Smith 14:43
And when I finally uncovered that I had that thought, thank goodness, thank you very much to my coach, I was able to start disproving it. Right? I was and because - anything that happened in my business also, this is what would happen - if I didn't reach the revenue that I wanted to make. Or if, you know, I didn't sign a client, or I did something online that I thought was going to be really great, but didn't really get a good response, I made it mean that I must have done something wrong. I must have done it the wrong way. Or there must be something wrong with me. Because I was operating through that belief that there's a right way to do things. And so what I did is every day I wrote down what I could do to disprove that belief. So just things like, Well, some people swear in their marketing, and I love it. And some people don't. Some people work with clients one on one, and some people work with clients in groups. Some people don't work with people at all, they just develop courses and sell them and don't even have any contact with their clients. It's all through video. And I just started to disprove this thought that there's a right way to do things, and I just kept reinforcing the opposite of that.
Meaghan Smith 16:19
And so what I worked on, I created a new story for myself that there isn't a right way to do things, and I decide what's right for me. Right? That was my new story that I wanted to create for myself. And, see, sometimes things with money, they're not exactly related to money in the sense that it's an exact thought about money. But this thought, I'm telling you now, blocked me from making more money - that thought that there's a right way to do things, that slowed me down big time in making money. Right? So uncovering that was so helpful for me and huge in moving forward in my business. Because what I was able to do is I was able to start seeing all the evidence for how I was doing things "the right way", in quotation marks, right? And that I was doing things, the way that was right for me, and that what I was doing was working. And I just kept seeing more and more evidence for that, and was able to break out of that belief that there was a right way to do things.
Meaghan Smith 17:32
So that's where I'm at with my thoughts in terms of, you know, creating more money, this is the level that I'm working at. Oh, level's not the right word. But these are the kind of thoughts that I'm unpacking at the moment. But wherever you are on your journey, it doesn't really matter. But it might be just that really basic stuff like, I'm not good with money, right? Like you want to start disproving those thoughts, and then all the other intricate supporting little beliefs that are there in your story, then you start uncovering them as you go, right, and you just keep unpacking one at a time, disproving it, disproving one belief, then you move on to the next, you disprove that belief. And what happens is that old story dies off, because you're not giving it any more fuel. You're not constantly looking for the evidence for that story, you stop seeing evidence that you're bad with money, and you start seeing all the evidence for how you're good with money. And then the funny thing is, you really start becoming a person who is really good with your money, because you keep seeing evidence for it, and you keep confirming it and reaffirming it. And then you start doing things like Yeah, I am good with my money, I'm checking my accounts, I'm paying my bills on time, I'm saving a little bit. You know, I'm spending it consciously on things that I want to spend on. Alright? And you grow into this new story. And then this new story that you've written, that money is simple and easy to make and that you make heaps of money - that becomes believable, and that becomes your new story.
Meaghan Smith 19:19
So try it. Okay? If you are entrenched in beliefs about money that you feel like, that they just feel so true, this is an amazing exercise to shift from the old story, like really call BS on that story, because that is all it is. I mean, that's the key word, story, right? This is fiction. It's just stuff that you've made up, and how it came about, it doesn't matter. You know, you probably learned it from your parents, or, you know, from society, growing up. I mean, sometimes it can be helpful to discover that, but it's not essential. It's just you happen to have this belief about these stories about money, for whatever reason, it's fine. But they're blocking you from making more. So start disproving them. Right?
Meaghan Smith 20:19
This is what thought work is about, it's about choosing how you want to think on purpose, and then creating that in your life. Because now that I don't live through that thought all the time that there's a right way to do things, I'm thriving in my business, because I'm just doing things my way. And when - the really cool thing about that is when you just start showing up as yourself, people are attracted to you, right? People want to be in your orbit. And the whole thing about the swearing. I mean, word up now, if you come and work with me, be prepared that I swear. And see that's such a thing now, that it is the right way, for me, right, to swear when I'm doing my podcast or in my emails, because it tells people that that's who I am. And thank goodness, because when I work with people, I'm like, mega concentrating on my clients and their thoughts and what they're telling me, right? I'm right in their head, like trying to pick out the limiting beliefs that they're having, and you know, I'm concentrating at a high level. I do not want to be thinking about Ooh, don't swear, don't swear, don't swear. I mean, I'm working with a client, I want to be able to just talk freely, how I normally talk.
Meaghan Smith 21:49
And so I mean, it's amazing that something so simple as that, like, not stopping myself from swearing and thinking that there's a wrong way, that there's a right way to do things, to moving into just being in the belief that I decide the right way. And I decide me, being someone who swears in my social media and social marketing and on my podcast is the right thing for me. Because you know what that does as well? It filters out people who don't like swearing. People who are offended by swearing are not going to work with me. When they get an email from me that says fuck in it, they're going to unsubscribe. Right? But the people who don't have a problem with swearing and the people who love it, they're going to be attracted to me. And they're going to come to me because they're going to be like, oh whew. Oh, my goodness, she swears.
Meaghan Smith 22:51
The Mastermind that I'm in at the moment, literally one of my criteria for checking this person off to be like, Yes, I want to work with them, is she swore, in a social marketing and I was like, tick! Okay, good. Because I was once in a programme, which, by the way, like, it wasn't a bad programme, it was good. But the person who ran it was a very nice person, you know, like, wholesome. Definitely was no swearing going on. And I just felt like, these aren't my people. I can't be myself here. Like, I can't say yes, fucking awesome, I just reached this goal, or whatever, because I was like, Oh, I may break these people, if I say fuck in front of them, right?
Meaghan Smith 23:40
So this is the impact of me just disproving that thought, that there's a right way to do something, you know, it has freed me up so much in my business, in the way I conduct myself in life, it's been life changing. So you can do that too, with any belief. And I encourage you to do it. Identify what your little current story is that you're telling yourself about money, and then go to work, and I'm talking every day, do one thing that disproves that belief. Right? That proves the opposite of that belief. And you will change your life. One belief at a time. You cannot underestimate how powerful this work is.
Meaghan Smith 24:39
So get to work my friend, and if you want help with this, I am an expert at helping women change their money mindset to create the money and life that they want. I would love to help you do this. I work with women one on one for six months. If you want to find out how to make more money and create the life that you want by changing your money mindset, book a consultation call with me and find out all about working with me. I would love to help you and I love hearing about, because I know sometimes people are like, Oh, I don't want to waste your time, I'm not sure - Listen, I love doing consultations with people.There's plenty of people who come and do a consult with me and we work out we're not quite right. Okay? But I get to help you anyway. I get to hear your story. You walk away knowing what is getting in the way of making more money. At the very least, you will get that from coming to a consultation call with me. Alright? So I would love to help you. You can book a call with me on my website. Okay, until I speak to you again, have an amazing week. See you next time. Bye Bye.