Do you have money shame? I found this article about a wealth mindset very interesting and wanted to share it.

 

Identifying the mental blocks that prevent you from asking for help is the first step to overcoming them.

 

While these blocks vary from person to person, some common ones include:

  • Shame or embarrassment about being judged
  • An unwillingness to trust financial professionals
  • Not knowing who or what to ask

This article argues that a reluctance to ask for help, particularly with finances, can significantly hinder financial well-being. The author's personal experience growing up in a "Do-It-Yourself" culture, common in close-knit communities and often associated with lower-income backgrounds, illustrates this point. This mindset fosters a distrust of outsiders and a belief that seeking professional help is unnecessary or too expensive. However, the author's research reveals that wealthy individuals are far more likely to engage financial advisors, attorneys, and other professionals, recognising the value of expert guidance in protecting and growing their wealth.

 

The article emphasises that attempting to manage all aspects of one's finances independently can lead to costly mistakes and lost opportunities. While the perception exists that professional advice is unaffordable, the potential long-term savings from avoiding errors and maximising financial strategies often far outweigh the cost of consultation. The article identifies common mental blocks that prevent people from seeking help, including shame, distrust of professionals, and not knowing where to turn. Overcoming these blocks by adopting a more open mindset and recognising the value of expert assistance is presented as a crucial step towards achieving financial success.

 

Click to Read the Article