It’s four days before payday, and your account looks emptier than a Monday morning coffee pot.
You tell yourself you just have to make it through these next couple of days, and everything will be fine once the money hits your account. But this situation isn’t new. Last month, you were looking through old purses trying to find extra cash.
Part of you is used to having only $46 to your name. However, another part of you wonders why you keep burning through money. You earn a good salary, you don’t have a bunch of expenses, yet every month you complain about being broke.
You might blame being low on funds on bad habits or bad luck. Yet what’s chaining down your life are your money blocks.
Let’s uncover these blocks and map out ways for you to do better.
What Are Money Blocks?
Money blocks are beliefs or systems that stop you from reaching financial success and having the money you desire.
Blocks can be things you consciously or unconsciously create. You can also acquire them from the people you know or the environments you live in.
Even though everyone’s money blocks can differ, there are a few that affect Black women more than others.
Common Money Blockages
Every person, whether wealthy or poor, has dealt with money blocks. The first step to overcoming these blocks is awareness.
Limiting Beliefs
Take a moment to consider what you believe to be true about money. Do you believe that you don’t deserve money or that you’re not good with money? Do you believe that making more money makes you selfish?
Whatever you believe to be true about money, those thoughts determine your behavior. For instance, if you think having more money will make you a bad person, then you don’t ask for a raise. If you believe that you’re bad with money, and the thought of managing it overwhelms you, you might self-sabotage and overspend.
Your beliefs drive your actions. The way you live your life is based on your belief system. The way you manage your money is a reflection of what you think about yourself and money.
Generational Misconceptions and Hardships
Take a moment to consider your family’s history with money. Have there ever been wealthy people in previous generations? Has your family been blocked from wealth-generating opportunities, such as having land taken away or being denied loans?
Any type of trauma that your family has experienced related to money circulates in the family through conversations, behaviors, and advice. You might even have an uncle who doesn’t keep any money in the bank because he doesn’t trust financial institutions. As a result, you might be skeptical about working with a financial advisor.
Perhaps past generations were denied loans to buy a house, so your family was never able to generate generational wealth through owning property. As a result, your family started to believe that wealth wasn’t meant for them, keeping them in a cycle of working paycheck to paycheck.
Whatever your family believes about money, chances are those beliefs have been taught to you.
Societal Pressures
Unfortunately, when it comes to money blocks, Black women don’t get a break. In addition to limiting beliefs and family trauma, pressure from society can create blockages.
Throughout history, Black women have had the role of caretakers or heads of household. Because of this identity, many Black women feel burdened by similar expectations.
If you, as a Black woman, earn a large or even decent income, it is expected that you share some of your earnings with your family. You become the person people ask to borrow money from and don’t often pay back. Although part of you wishes you could say no, you feel guilty. You know your cousin is going through a hard time, so you loan him $200. Even though you’re helping out someone, you often end up hurting yourself in the process.
Likewise, you might not buy the new car you want or treat yourself to a spa day because of how you might be perceived. You keep yourself small and deny yourself because you don’t want to display your wealth. If you do, others may judge you on how you’re spending your money.
How to Break Free From Your Money Blocks
So you’ve read the bad news. There are many things holding you back from having the money you desire. The good news is these blocks can be taken down and destroyed. It will take time and patience, but you can eventually free yourself from this burden.
Identify Your Specific Blocks
Chances are you’ve already identified some blocks from reading this article. However, you might have a few more locked away in your subconscious. Here’s what you can do to bring those blocks to the surface:
Write down all your beliefs about money. For the next few days, write down every thought you have about money. Some of your thoughts might show up as “Money is so hard to manage,” “I’m no good at making money,” or “I never seem to have enough money,” etc. Any thought that is not helpful, replace it with positive or neutral ideas. For example:
- “Money is hard to manage” becomes “Money is easy to manage with the right system.”
- “No one will pay me more” can be “My services have value and people are willing to pay for them.”
Examine Family Money Stories
Consider the stories, conversations, and comments you heard from your family growing up. Determine if you’re living your life based on your family’s experience with money or your own. Remember that every person in your family has experienced different times, struggles, and economies. Choose to focus on your journey only.
Recognize Emotional Triggers Around Money
Money can be an emotionally triggering topic. You might spend money when you’re stressed, or feel reluctant when it’s time to pay a bill. Identify what aspects of money are triggering for you and seek self-care practices to help you through those difficult moments.
Reframe Your Money Mindset
Once you’ve identified your money blocks, the real work begins. Changing your mindset is all about shifting your focus and changing your thoughts. One way to do this is to shift to abundant thinking. You’ve heard of this before, but what does it actually mean?
Abundant thinking helps you see the possibilities in every situation. It’s about seeing the multiple ways there are to make money. With abundant thinking, you’re not focused on what you don’t have. Instead, you appreciate what you do have.
Take Practical Action
With a better mindset, you can start taking steps to improve your relationship with money. For instance, you can start educating yourself on financial topics. You can learn to set boundaries with friends and family. At the same time, you can reach out to people in your community for support.
Don’t forget there are many professionals, such as financial coaches and advisors, who can help you achieve your financial goals.
Financial Healing Is a Journey
Remember that having these money blocks is not your fault. They are embedded in your mind because of how you’ve lived and who you were around. Take it slow—you don’t have to change every belief at once. The more you become aware of your thoughts, the easier it is to move forward toward your goals.
