Sometime’s what’s holding you back from financial freedom is actually your mindsets around money. Here are some limiting beliefs about money and how to overcome them.
0:00 – Introduction
0:56 – Adrian’s Story
2:42 – Limiting Belief #1: Money is Evil
4:13 – How we broke this limiting belief
5:40 – Limiting Belief #2: It’s Not Ok To Talk About Money
8:50 – Limiting Belief #3: Spending Time With The Wrong People
10:23 – Limiting Belief #4: You Need Money To Make Money
11:33 – Limiting Belief #5: Only The Rich Get Richer
13:06 – Limiting Belief #6: You Can Only Get Cash Flow OR Capital Growth
14:40 – Start challenging the way you see money
First Time Property Investor’s Guide To Financial Freedom – https://www.youtube.com/watch?v=aaJ1DGaeTQY&list=PLHQSDRgRmOaj1LKGXskOA5a_6ye_JXxM_
Big Financial Ideas That Messed With Your Brain – https://www.youtube.com/watch?v=T0p0ZNLtFq4
Sometimes what holds you back from achieving financial freedom is less how much money you actually have in the bank at the moment, and actually limiting beliefs around money that keep you stuck or keep you trapped in your current situation, and so we want to get you out of that situation and break some of those limiting beliefs in today’s episode. So, Hey, I’m Ryan from on property. I hope people achieve financial freedom and I’m joined by buyers agent Ben Everingham from pumped on property as well. How you doing? Good. I’m doing pretty good. So both of us have had to overcome a bunch of limiting beliefs in our life that were holding us back from achieving financial freedom. We both achieved financial freedom through property may, through business. I’m now back on the grind, trying to get back to financial freedom again because I lost it, but it’s really good to do this. Refresh our to just think about things that may be holding you back just mentally and pushing through those.
Yeah, it’s a funny thing. Those limiting beliefs. Luck. I had a epic catch up today with the client that flew up from Sydney and he won’t mind me mentioning his name, Adrian, and I’m. One of the biggest things I was listening to him was his language and the way that he spoke about money over the course of the day and I think the language is a result of the underlying beliefs and thought patterns that hey had around money and he was in sales and he still had other disrespect for people in this industry. He still hadn’t made his peace with salespeople and as a result, he’s income is capped because you know to to go to that next income gap, he’s got to actually let go of some of that stuff that he’s still carrying around. So language is absolutely huge and you know, we say things to ourselves every single day about money that we would never say to a best friend or a family member. And so part of it as Adrian told me, is be being kinder to yourself and acknowledging that now this is where I’m at. And that doesn’t mean that that’s where I have to be long term. So he’s working to fix his money mindset stuff. Seavley, Lucky’s, taking leaps and bounds every single time I talked to him. I’m just so inspired by his progress because it does take time and unless you constantly like consciously address some of the issues that you’re coming against, you know, the only destination is really the pension, which is Burrito Burrito,
but we don’t want to end up on the pension, which is why you guys are listening here. I think one of the biggest things that impacted my life was when my wife was pregnant with our first kid, I read a whole bunch of Robert Kiyosaki books. I just focused on that and smash through 10 books or something over the course of a couple of months and just really shattered a lot of my limiting beliefs. So let’s talk about some of the limiting beliefs out there. I think the first limiting belief that a lot of people need to overcome is this idea that money is evil or the pursuit of money is evil. Or in some way you’re bad. If
you want to be rich, I had an amazing video this morning when I was driving to work and he talked about money being a tool and money is just a middle ground. Money doesn’t have an emotion. Money is just purely a tool to get what it is that you want in your life and it’s you know, there’s evil people, there’s good people, you know, money just magnifies the evil or the good in people. That’s got nothing to do with actually anything but that an end. He actually talked about a lot of people without money and a lot of the major problems in society come out of not having enough. You know, a lot of poverty, a lot of drug abuse, a lot of sexual abuse come out of environments where people don’t have enough for their basic needs be met. And so the crime rates increased. The murder rates increase. All of the knock on effect through society increases. So it’s actually the flip side of not having enough money. Is that the more darker side of society
and that’s the thing. Money you can use for good or you can use it for evil, the same with youtube comments. You can take your computer and you can use that time to leave a nice comment which you should do down below or you can take that time and use the same tools, the same computer to make a bad comment and to be rude and just not add value to the world. And I think the way that I broke this limiting belief is realizing that money is money is a social construct. It’s just a representation of value. So money doesn’t necessarily. It’s not evil in and of itself. It represents value. And so in order to obtain more money or more value, I need to create more value for the world. And so for me money was more just a representation of how much value am I adding to people’s lives and creating in people’s lives that’s coming back to me are being exchanged in the form of money. But I’ve actually created that value from scratch and actually improve the world and my bank account just represents that. So that got me over that limiting belief.
You know, for me personally to sort of break through that, I just had to realize that the person that I became with or without money was a true representation of myself and I was living my values like I didn’t overnight, like you sort of did. Just figuring out that I had no more limiting beliefs around money. Like it’s taken me a long time to get comfortable with earning good money and investing my money and realizing that I’m enough and that it’s okay for me to have a little bit more money than I was brought up with. But you know, through that experience of getting it, it’s enabled me to, you know, let go of some of that stuff over time. And you know, there’s, there’s things that we all carry, but it’s a choice to continue to carry them. And those stories about money sometimes they actually serve you.
I think another limiting belief is that it’s not okay to talk about money. It’s a shocker in Australia. That one, I never had this belief. I think there’s something wrong with me in terms of my social calibration because when I grew up as a kid, I just used to love asking people how much money they earn. My mom hated her because she earned a of money,
like a decent amount, not crazy, but she was embarrassed by that for some reason, but I’d always also like how much do you earn and she wouldn’t tell me and then I’d be asking. I have a quite a wealthy uncle unlike, so how much do you earn? And still asking Ryan is he quiet, but I always loved talking about money and when you talk to people about money you can learn things from them and I think one of the reasons I love this relationship so much is that we can talk freely about finances and money and what we’re going through and what are the best decisions and how we’re investing and it’s just part of our relationship and regular conversation. And when you have people that you can talk about like that, you learn things 100 percent. Like it’s a funny thing. Like in society for some reason.
There’s a reason it’s called the tall poppy syndrome, where in America people are just so excited for people that are doing well and I want to know one question that Australians never asked and that is instead of being jealous or envious or caught up in the how hot, which you know anyone that has money realizes it means nothing more to your happiness than you were when you were completely broke, but in America they ask this one question which is how did you achieve it? Like what specifically have you done to do this? And then I learned from enough people until they can go out there and do it themselves. It’s so different. In Australia, we just judge people that are doing well. We get envious of their lifestyle or the way they’re doing things in ice to be exactly the same. Now I’m just fascinated and I want to learn as much as I can, so find people that you can talk about with money.
Not everyone’s going to be great for this. Some people just don’t like talking about it, but if they don’t find, find other people who do. There’s properly meetups that you can go to. Hopefully they’re not trying to sell you something or they’re all trying to sell you something, but hopefully you can find some people who are interested in property, interested in business, interested in personal finance that you can talk about. I remember being back when I was first married, I had friends who were also into the Robert Kiyosaki books and the cashflow game, so we played it with them and we’ll talk about money with them so you should be able to find people in your life that you can discuss it with and as you do then you discuss and you grow. You recommend them books, they recommend you books. You’re both growing together. Yeah, absolutely.
Like Ryan came a couple of weeks back to catch up with a few of our friends and we did like a little work at. We had a spa and a owner and we just talked openly about everything and I think having an environment where obviously it’s not always serious conversations like as you can untie. There was a lot of few of them are single, said. There’s a lot of talk about lady friends and you know, it’s just one of those things where you can hopefully build that supportive environment or Rangi where it’s okay for you to fail in front of those people. It’s okay for you to be honest and vulnerable and talk about how stuff’s really going and whether you’re succeeding or failing. Those papers should be propping you up and that supportive environment is a huge one. Like in terms of another limiting belief around money for some reason, poor people congregate together and wealthy people congregate together and it’s got nothing to do with the money.
It’s got everything to do with the mindset surrounding it because it’s so frustrating when people don’t get your stage of life that you’re in and if you want to break away from something, you need to move towards something. You need to replace the habit of hanging around people that are always like that with some people that are not so much like that in a way you want to be so that you can grow with them, learn from their experiences. Well, let’s, let’s turn around and head back. Um, so you’re saying one of the limiting beliefs about money, it’s just hanging out with the wrong type of people. Yeah. I feel like you don’t have to lose your friends or your family or your inner circle that cares about you, but I do think it’s important to surround yourself with some people where whether they’re loose or tight associations that get this stuff.
And that can expand your mind. Absolutely. Like you can learn from their experiences the same way that you wouldn’t go to a gym and get your personal training from someone that was unhealthy. Why would you get, you know, your financial diet delivered to you from someone who is financially not well off. Like why would you listen to it from somebody who’s on TV or in the media that is completely broken their personal life. Like, you know, why wouldn’t you be taking it from successful business people are successful investors that have already done what you wanted to or people who are moving towards doing what you’re doing as well and that same journey. So I think getting the right people around you is going to be key. Another thing that I think is a limiting belief is that you need money to make money. Again, money is just a representation of value you’re working with.
Fascinating. Can we spend a bit fitter than I am, but I think that idea that you need money to make money, money is a representation of value and you have value in your life, your work. You really can’t say sorry guys, and so I know this in my life, is that the majority of my wealth has been created from scratch through content that I’ve created is through videos like this or articles that are written, product reviews that are done, that sort of stuff didn’t cost any money show and a computer and an Internet connection to do that, but that was just value that came out of my learning and my head that didn’t cost me money. Obviously investing in property, you’re going to need money in order to do that, but as you learn more, you need less money to make more money. It’s such an interesting thing like it’s such such a limiting belief that you need some money or there’s this other one that people say, money makes money and I feel like money definitely makes money, but someone that wins the lottery and then goes and spends that money doesn’t necessarily make it by merely transferred the money out of their pocket into the value of the market, whether it’s in cars or other disposable items that end up costing them something that they don’t recognize right now.
I think this concept of starting from nothing and working towards something is so much easier than most people would believe. Like it can be done. You can teach yourself anything. You can learn the right skillset. She can start a little business on the side. You can turn that into a full time income stream. You know, you can pick your time in so many other ways. It’s just, you know, this thought that only the rich get richer is just. It’s so destructive on society, but I do think you need to apply yourself extensively if you’re not rich already, so he don’t have money. You need to find the value that you have that you can deliver to the world in order to make money, and then as you earn money, you can reinvest that to leverage your value and get it out to more people. Yeah, you’re 100 percent raw.
Lucky it does take hustle and it does take some time and some focused involvement in a disciplined way, but you know, isn’t that funny enough anyway? Well that’s the thing and we’re just trying to say you don’t need to be a trust fund baby and have inherited all this wealth in order to get wealthy that you can do it off your own back. Uh, another limiting belief that is more applied specifically to property is that you can only get capital growth or cashflow. You can only get one or the other when it comes to investing and you have to choose this one or that one. We just know that’s completely untrue, that you can invest in quality markets at the right time of the property cycle, in a good suburb by the right property within that suburb. So getting that capital growth and you can get cashflow as well, or you can buy the right property that you’re able to create the cashflow through renovations, through building a granny flat.
There’s so many different ways that you can do that. Yeah, I can understand why this one or the other mindset was actually created obviously with property prices doubling for my severe parents and grandparents lives every seven to 10 years. I can see why you know in their mind you just buy something and hold it and it grows in value and that’s what everyone did. But now that that’s not going to be true for the next 30 years for the average Ozzie, you’ve got to start looking at creative ways to get good longterm growth as well as great cash flow and the cash flow not just gives you an income stream for life, but it protects you against downside as well. And I think if you’re a lazy investor, then you do have to choose between capital growth and cash flow because the properties that deliver both on just really easy to find. You need to do some extensive research to find these properties and you need to know how to do that research, but they are out there if you can find them. Yeah, absolutely. And you know, sometimes it’s finding them and sometimes it’s creating them as well. Yeah, and so there’s a couple of women in beliefs, obviously there’s so many that we could go through, but there’s a couple to get you guys started and to hopefully just start things
in your life. Start challenging the way that you see money. Start challenging the way that you see investing and whether or not you’re worthy or deserving of the money. What could you do with that to improve your life and the lives of people around you? I’m all about living your truth and living the best version of yourself, giving your best self to the world and adding as much value as possible, and often that value comes back in the form of money when people pay you for that.
I agree, and the reason to make more money isn’t to make more money. It’s to get better quality choices in your life sooner so that we can spend time with our families, our friends doing work we enjoy getting out of that job. We hate securing our future and not wasting any more emotional energy on being afraid of what’s to come next and just focusing on whatever it is that you truly want to do, if that’s kicking back and sitting on a beach to that, if it’s retiring, if it’s volunteering or if it’s starting a business and impacting the world in a bigger way like choices is what money allows us to do and money is just the tool or the cater to those choices for your future.
Exactly right. So thanks so much for watching this episode today guys. I hope that it’s helped you. While you’re here. Go and check out this series that may have been did mini series on how you can reduce your risk, increase your chance of return and achieve financial freedom through investing in property. So smash those beliefs in your life and then go ahead and start working towards financial freedom. So check that out. Links will be in the description down below as well. Until next time, stay positive.