Strapped for cash? Let go of lifelong beliefs to have enough

Jun 9, 2024 | Insights

Root out and quit your lifelong beliefs and assumptions about money that leave you strapped for cash and influence every decision you make.
Many years ago, I made some impetuous decisions (without considering the financial implications) that left me with no income, no assets, and significant debts. Now, I realise that my decisions were a reaction to the security and stability encouraged by my parents from an early age. I believed that taking risks and flying by the seat of my pants was a better alternative. In fact, it left me strapped for cash. Today, I still take risks, but I’ve grown up a bit (I hope) and learnt to assess the risks more holistically than my parents.

Feeling strapped for cash is a common struggle, but have you ever considered that your lifelong beliefs about money might be the root cause? These ingrained assumptions and habits often shape every financial decision you make without realising it. By identifying and letting go of these limiting beliefs, you can transform your relationship with money and find yourself with enough to meet your needs and more.

The Invisible Chains of Money Beliefs

Our beliefs about money are often inherited from our parents, shaped by our upbringing, and reinforced by society. Phrases like “Money doesn’t grow on trees,” “You have to work hard for every penny,” or “Rich people are greedy” can become internalised truths that govern our financial behaviour.

These beliefs can lead to self-sabotage, making us feel undeserving of wealth or fearful of spending, thereby keeping us perpetually strapped for cash.

Identifying Limiting Beliefs

The first step to changing your financial situation is to identify your limiting beliefs about money. Reflect on your thoughts and feelings about money. Do you feel guilty when you spend on yourself? Do you believe making a lot of money is impossible for someone like you? Write these beliefs down. Awareness is the key to change.

Challenging and Replacing Old Beliefs

Once you’ve identified your limiting beliefs, challenge them. Ask yourself, “Is this belief really true? Where did it come from? How has it helped or hindered me?” For example, if you believe “I have to work hard for every penny,” consider that many people earn money through smart investments or passive income streams. Replace this belief with a more empowering one, such as “I can create multiple income streams.”

Reframing Your Mindset

A powerful way to let go of old beliefs is through reframing. Instead of seeing money as scarce, view it as abundant and available. Practice gratitude for what you have, no matter how little it may seem. This shift in perspective can open you up to new opportunities and attract wealth into your life.

Practical Steps to Financial Freedom

Beyond mindset changes, practical steps are essential. Create a budget to track your income and expenses. Cut unnecessary costs and focus on saving and investing. Educate yourself about personal finance; knowledge is power. Seek advice from financial planners or coaches if needed.

Patiently Embrace a New Financial Reality

As you let go of limiting beliefs and adopt a healthier mindset about money, you’ll begin to see changes in your financial situation. You’ll make better decisions, feel more confident, and gradually find that you’re no longer strapped for cash. Remember, the journey to financial freedom is a process. Be patient with yourself and celebrate small victories along the way.

By rooting out and quitting your lifelong beliefs and assumptions about money, you can break free from the cycle of being strapped for cash. It’s time to rewrite your financial story with calm, confidence, and clarity of purpose. Your new life of financial abundance awaits!

Photo attribution

Photo by Annie Spratt on Unsplash

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Taking it further

I have compiled a list of books (not many, I am afraid) dealing with your relationship with money. Of these, the three most important, in my humble opinion, are:

Deedes, Jeremy. Right Money, Right Place, Right Time – Personal Finances to Transform Your Life and Secure Your Future. Rethink Press Limited, 19 Jan. 2015.

Kinder, George. The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life. New York, Dell Publishing, 2000.

Twist, Lynne. The Soul of Money: Transforming Your Relationship with Money and Life. W. W. Norton & Company, 14 Mar. 2017.

You can find the full list of my selected books at

Related posts

I frequently write about money, and you can find several posts dealing with different aspects of money at by searching for “money.”

My name is Jeremy Deedes. I work with seasoned independent consultants to make sense of their finances and develop a better relationship with their money. This transformative approach allows my clients to achieve their personal and professional goals with confidence and clarity, paving the way for a calmer, more fulfilling path at home and work.

Discover your money maturity score by taking the Money Maturity Quiz at It’s free, takes only a few minutes, and you will get your score and recommendations by email immediately.

Then, use the link below to schedule a free 20-minute call with me so we can start you on the path to understanding your money and creating a new story to tell your family and friends.

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so share your thoughts in the comments box below, and thank you for your time and generosity.

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