How Negative Self-Talk Can Destroy Your Financial Success

How negative self talk can destroy your financial success - blog post by award-winning money coach, Patti Fagan

Do you ever catch yourself in a pattern of negativity around finances? Did you know that something as simple as negative self-talk can destroy your financial success?

Do these thoughts sound familiar?

“I’ve never been good with money.”

“I hate budgets.”

“I’ll never be a 6-figure earner.”

“My target market won’t pay premium prices.”

If you’ve ever heard these statements come out of your mouth—or even in your head—then you’re engaging in a damaging habit known as negative self-talk. By telling yourself these lies (and yes, they are lies), you’re reinforcing the beliefs that go along with them.

What you say to yourself becomes a self-fulfilling prophecy.

Tell yourself that you’re not good with money, and you won’t be. Believe that budgets are a pain in the butt, and you’ll resist creating one. Convince yourself that you can’t earn a 6-figure income, and you won’t.

It’s not “the secret.” It’s a scientific fact known as a self-fulfilling prophecy. This kind of self-talk negatively influences our performance simply because we act as if it’s already true.

If you tell yourself that you’ll never be a 6-figure earner, you will not do the things that 6-figure business owners do. You won’t work to grow your mailing list (“…no one reads my emails anyway…”); you won’t increase your coaching fees (“…it’s not like I’m some world-class coach…”); and you won’t build a brand worthy of a 6-figure income (“…a beautiful brand isn’t necessary at this income level, so why bother?”). After a while, negative self-talk sounds convincing, and we start to act as if those thoughts are true.

By contrast, if you act and think that you are already a 6-figure earner, you’ll approach your business differently. Your confidence level will increase, and you’ll convey a very different message to your prospective clients. You’ll connect with those who can and will afford to pay your higher rates.

How Do You Conquer Negative Self Talk?

The first step toward changing your negative self-talk is to acknowledge that you’re guilty of it. Tick a mental checkbox every time you catch yourself making negative statements, whether out loud or in your head.

Make a note of the ones that come up most often for you and identify their origin if you can. Journaling is an excellent tool for uncovering the root cause of negative thoughts.

Another effective strategy is to challenge your negative thoughts. The next time you catch yourself saying, “I’m no good with money,” take a minute to recall five instances where you were good with money. Maybe you paid off your credit cards or saved for a house, or built an emergency fund. Rephrase your self-talk to, “I used to be bad with money [if that’s true], but now I make smart choices to achieve my goals.”

Just as negative self-talk becomes a self-fulfilling prophecy, so does positive self-talk. Reframe your thinking and self-talk, and your business, income, and finances will start shifting in a positive direction.

So, yes, negative self-talk can destroy your financial success. But positive self-talk will ignite your confidence and empower you to shatter your glass ceiling.


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