7 Poverty Mindset Blocks That Are Keeping You Broke

Written by: Angela Henderson • October 02, 2023

Image Source: https://unsplash.com/@Windows

Are you an entrepreneur who feels stuck in a cycle of financial struggle? Do you find yourself unable to break free from the limiting beliefs and patterns keeping you stuck in a poverty mindset, blocking you from reaching your potential?

Many entrepreneurs experience hidden mindset blocks that hinder their business success and keep them from achieving their financial goals. Oftentimes, they’re unconscious to the fact that they even have these blocks in the first place — or how to change them.

We hold ourselves back more than we might like to admit, or may even realize. Regardless of where you’re at in your business, your mindset will always be confronted with setbacks. But the reality is, you can never stop working on it.

Because the key to creating long-term financial success lies in the power of recognizing and releasing any negative beliefs you have about money. This is something I’m endlessly working on — in myself and with my clients too — to truly release what’s holding someone back from achieving their financial goals.

Why I Started Working On My Mindset Daily

After 12 years in business, I’ve consciously worked on my mindset consistently every day to achieve success and reach my financial goals. It takes work and focus, but mindset is the key to helping you finally break free from the limiting financial beliefs keeping you stuck.

In truth, your external world is a direct reflection of your internal world. By actively working on your mindset, you can shift your beliefs, thoughts and behaviors to align with financial abundance.

If you’re struggling to make money or reach your goals, you likely have some internal work to do. When your mindset is skeptical, critical or untrusting, it’s much harder to turn your goals into a reality. And to reach these goals, it takes looking at your current mindset to see what might be holding you back.

The mind is a complex place. We have thousands of thoughts every day, and we can't be consciously aware of them all. So in order to identify your current mindset and limitations, you need to become aware of the repeating thoughts that pop into your mind daily.

This awareness will then help you tackle your mindset blocks head-on, so you can pave the way for financial abundance and unlock your true business potential.

After supporting thousands of women around the world in their businesses, I’ve discovered seven major mindset blocks that held many of them back from creating the financial success they dreamt of. Let’s uncover them together.

Mindset Block #1: Self Trust

One major mindset block that can significantly impact financial success and contribute to a poverty mindset is a lack of self-trust. When you struggle to trust yourself, your abilities and your decisions, it becomes challenging to take the necessary risks and actions to grow your business and generate wealth.

Many women struggle with self-trust, which hinders their ability to take risks, make decisions, and fully embrace their capabilities. This ultimately holds them back in their businesses — and in their lives.

By developing self-trust, you empower yourself to take bold steps towards financial freedom. You gain the courage to take calculated risks and make big moves, opening yourself up to a world of abundance and prosperity.

Mindset Block #2: Self Love

Self love is a powerful emotion and belief that helps to reduce your poverty consciousness and move you towards entrepreneurial success. When you truly love and value yourself, you recognize your worthiness of abundance and prosperity. It enables you to set healthy boundaries, prioritize self-care, and make decisions that align with both your wellbeing and long-term goals.

Self love also helps you create a positive relationship with money, where you believe you deserve financial abundance and are open to receiving it. Nurturing self love is essential for breaking free from a poverty mindset and moving you into an abundance mindset.

Mindset Block #3: Worthiness

Feeling worthy is crucial for achieving success and financial prosperity. The belief that you are deserving of abundance opens up opportunities and allows you to seize them — without hesitation or doubt. Overcoming feelings of unworthiness requires self-reflection, self-acceptance, and embracing your inherent value.

Worthiness plays a critical role in releasing your poverty mindset and creating financial success as an entrepreneur. When you deeply believe in your own worth and value, you naturally align your actions and decisions with the mindset of abundance. Recognizing that you are deserving of wealth and prosperity allows you to confidently pursue opportunities, set higher goals, and charge what you're truly worth.

By embracing your worthiness, you release self-doubt and the fear of success, allowing yourself to step into your full potential as an entrepreneur.

Mindset Block #4: Money Stories & Money Blocks

Negative subconscious beliefs about money can limit your ability to achieve financial success. These deeply rooted "money stories" often stem from childhood experiences or societal conditioning, influencing how you perceive and interact with money.

Whether it's the belief that money is scarce, that wealth is reserved for others, or that making money is inherently selfish, these stories create invisible barriers that limit your earning potential.

Identifying and reframing these beliefs is vital for cultivating a healthy relationship with money and unlocking your full earning potential. This is key, for you to open up to the limitless opportunities for entrepreneurial success.

Mindset Block #5: Obsessive Thinking

Obsessive thinking involves recurring thoughts paired with negative judgments. These thoughts can consume your mental energy, leaving little room for productive action towards your goals. By recognizing and challenging these patterns, you can redirect your focus towards positive and empowering thoughts.

This shift allows you to create an abundant mindset which, in turn, opens doors of opportunities to create wealth and financial freedom.

Mindset Block #6: Divine Timing

Believing that everything in your life happens at exactly the right moment can lead to complacency and a lack of proactive action. While trusting in divine timing is important, it’s equally crucial to take responsibility for your own growth and progress. Balancing patience with proactive steps is key to overcoming this mindset block.

Waiting for the perfect moment or external validation can become an excuse for inaction and complacency. While timing may play a role, it's ultimately your actions and decisions that shape your success. Relying solely on divine timing can lead to a passive approach where you wait for things to fall into place, instead of actively pursuing opportunities and taking calculated risks.

This mindset can keep you trapped in a poverty consciousness, as you may believe that success is something that happens to you rather than something you create. Remember to, instead, take inspired action, trust your intuition, and work towards your goals while remaining open to unexpected opportunities.

Mindset Block #7: Imposter Syndrome

Imposter syndrome is the belief that you are not as competent as others perceive you to be — and a significant barrier to financial success as an entrepreneur.

It can undermine your confidence, hinder your progress, and prevent you from fully embracing your expertise. Imposter syndrome keeps you trapped in a poverty mindset by eroding your self-confidence and making you hesitant to take risks or charge what you're truly worth.

Overcoming imposter syndrome requires acknowledging your accomplishments, embracing self-belief, and celebrating your unique skills and talents. Surrounding yourself with a like-minded community of entrepreneurs is also a powerful tool to help you overcome this block.

Joining a business mastermind group or group coaching program, can also be a useful tool to help you overcome any limitations you may be experiencing while creating financial success.

Start Overcoming Your Mindset Blocks With…

By recognizing and addressing these mindset blocks, you can pave the way for financial abundance and success. Overcoming them requires self-reflection, awareness, and consistent effort. Engaging in personal development activities, seeking professional support from mindset coaches or therapists, and practicing daily mindset work are essential steps to break free from the limitations of a poverty mindset.

Remember that you have the power to transform your mindset and create a life of financial prosperity. Start today by taking small steps towards overcoming these mindset blocks and watch your relationship with money (and success) transform.

I help female entrepreneurs accelerate their business growth inside of my transformational programs like Every Day Payday 4-part program, a 6-month group coaching program called Profit Pillars, and my 12-month mastermind, Action Takers Mastermind. All life-changing programs — which one you choose depends where you’re at, and what you need next.

Also be sure to check out my podcast, The Angela Henderson Online Business Show, a podcast dedicated to supporting entrepreneurs — like you — in your business and life.

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