Six Childhood Beliefs that Hold You Back Financially

Identifying and challenging childhood beliefs that hold you back financially is the first step towards unlocking your financial potential. Let’s explore six common childhood beliefs that may be holding you back and practical ways to overcome them.

1. Money is the Root of All Evil

Perhaps you, like me, grew up hearing variations of this belief, associating money with negativity. With a childhood belief like this, it’s a wonder any of us ever became financially successful.

The Bible does not say that money is evil, nor does it identify money as the underlying cause of all bad things. The common expression “money is the root of all evil” is an incomplete and misleading Bible quotation. The Bible actually says that “the love of money is the root of all evil.” a—1 Timothy 6:10, King James Version, emphasis ours.

To over come this belief, reframe your mindset. Understand that money is a tool; it’s the intent behind its use that matters. Embrace the idea of using money for positive impact, whether for personal growth or contributing to your community.

2. Rich People Are Greedy

As a child I came to believe that all wealthy individuals achieved success at the expense of others – think Ebenezer Scrooge. It took hard work to dispel the myth that wealth equates to greed. I came to recognize that while some wealthy individuals are greedy, many affluent individuals have contributed and continue to contribute positively to society. Defeat this childhood belief, and aim to emulate their success by creating value and giving back.

3. Money Doesn’t Grow on Trees

Grow MoneyI was raised during a time when the scarcity mindset that implies a constant lack of resources, was based on fact. It took me a long time to shift to an abundance mindset. I acknowledged that opportunities for financial growth exist, and with effort and planning, you too can cultivate a flourishing financial landscape.

4. I’m Not Good with Money

Idea - Plan - ActionIf you have little money saved, it is easy to internalize a belief in your financial incompetence. It may be that you have never been taught how to manage your money. With time, effort and a plan, you can overcome this belief.

Start small. Take charge of your finances by budgeting, setting financial goals, and gradually increasing your financial literacy. Small, consistent efforts can lead to significant improvements.

5. It’s Not Polite to Talk About Money

discussing financesThere is a belief ingrained in many cultures, discouraging open discussions about finances. Break the taboo.

Don’t brag about your money, but do engage in transparent conversations about money with trusted friends or mentors. Sharing experiences and learning from others can demystify financial topics and empower you.

6. I Don’t Deserve Wealth

Set GoalsBecause you don’t have much money, you may develop a deep-rooted feeling of unworthiness regarding financial success. You have the power to change both the feeling and your financial position.

Practice self-compassion. Recognize your inherent value and worthiness of financial well-being. Set achievable financial goals and celebrate your progress, no matter how small.


Overcoming self-limiting childhood beliefs is a transformative journey towards financial freedom. By challenging these notions and embracing positive mindsets, you pave the way for a more prosperous future.

Remember, small changes in your beliefs can lead to significant impacts on your financial well-being. Take the first step today, confront these beliefs, and embark on a path towards a financially liberated and empowered life.

As always, I am not a qualified financial advisor. I just relate financial management to my own experience which may not resemble yours at all. Advice is frequently worth exactly what you paid for it. Most of mine came from expensive experiences.

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