Do Your Beliefs About Money Hold You Back? – Steven Pesavento Transcription:
Steven Pesavento 00:05
This is the Investor Mindset podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation.
Steven Pesavento 00:27
Poor of investing, what it really comes down to is it comes down to knowing why you're investing. What's the purpose behind it? What's the driver? And what is leading you to having that massive belief. I'm talking to one of my clients, and I'm getting in on a strategy call with them. And we're going through, you know, what are what is their current wealth look like today? How much money do they have in retirement accounts? How much money do they have in their home? What is their net worth look like? We're getting into some fairly personal financial information, information that, you know, this individual in particular, typically isn't comfortable talking about outside of a financial discussion outside of a private discussion with somebody who is, you know, really working on their behalf to be able to go out and do you know, amazing things and grow their wealth. But as I'm talking to this person, I'm starting to recognize and starting to hear a set of beliefs that was really not serving them. And this set of beliefs is a set of beliefs I hear often I've personally had these beliefs and from time to time, those old beliefs, they do come back, they come back, and you have to essentially re re clear that those beliefs in order to establish the ones that are really going to serve.
Steven Pesavento 01:47
And so I want to share with you the importance of recognizing what are the beliefs that you have about money, and how that ends up playing into your inevitable financial success. This success means many different things to many different people. But one of the key things is that you have to understand what success means to you having this clear purpose, having a very clear picture of exactly what that looks like. And by win is an absolutely critical component of the conversation. But when you end up having a set of beliefs, really a mindset about money, that does not serve you some of those beliefs that I often hear come up, and maybe you have some of these, I know I've had some of them. Some of them are money doesn't grow on trees, you have to work hard for money. Money is not easy, it's not easy to make money. Money is scarce. We're heading into an economic winter, therefore money is going to be much harder to make, we have to hold on to our money, we have to be very conscious of our money, we have to really focus our effort and energy on creating money and working hard to have money in our life. When we contrast that belief to money is easy. money flows to me, whenever I need money, money shows up. Money works. For me, money is a tool money allows me to do more of the things that I desired doing. Money makes me more of who I already am. Money makes my life easier. Money flows. To me, money flows through me money makes impact on the world. We contrast these two sets of beliefs, what we end up seeing below the surface, is that one of the sets of beliefs acts like an anchor holding us in our current position right where we're at. And the other one acts like an engine, it ends up propelling and perpetuating a new movement of money into our lives. And many people, including myself, when I first started thinking about this many people, you might be one of them thinks that some of this stuff might be cheesy, or it doesn't really apply to me or, you know, perhaps feels weird or uncomfortable thinking about your thoughts, thinking and recognizing the thoughts that you're having, and being conscious of them.
Steven Pesavento 04:14
So the exercise that I mentioned to this person, which is really, really a powerful exercise, and it's one where we intentionally put into our subconscious, this reminder to pay attention to the thoughts that are coming out of our mouth, and or that are coming to our brain and to recognize and reflect how is that thought serving me right now? Because at the core of this one thing that's really important to understand about beliefs in general, we're talking about mindset of money. We're talking about mindset of relationships, of our life, of creating passive income of leaving our job of starting a business of growing to that next position or a job, whatever that thing is, these thoughts and beliefs. They're simply a programming and they're there for a good Reason, they're there in order to help us to support us in order to allow us to do more of the things that our mind and body thinks is what's best for us. Right? So majority of the time, what that means is that these thoughts and beliefs are here to protect us. And so it's really valuable when we hear that thought come up, oh, I don't have a lot of money. Money doesn't flow to me, I have to work hard for money. Those other people, it's easy for them. But it's not easy for me, then we have to ask ourselves, why is that true? What is our mind doing for us that ends up supporting that belief? And how does that actually protect us? So when I asked this person, what they really said was, you know, money is hard money doesn't, you know, it's not easy to get, I have to really be very intentional about it. Because, you know, I don't have a lot of it. And, you know, I'm gonna need a lot of it. And there was really a feeling of lack around it. And when I asked this question, well, what does that do for you having that belief? Why, what does that do? And what this person said was, well, you know, they, they hadn't really thought about it, they hadn't really thought about why that serving them, they just thought, No, this is just the way it is they they had not yet recognized the belief, let alone been able to understand where it came from.
Steven Pesavento 06:30
So for this individual, it, it came from a, you know, an early conversation with their parents that was really instilled over and over again, that they have to work really, really hard for money, and that there's not a lot of it, and that they should ask for it. And they got really comfortable with this idea that I don't ask for things, I don't ask for what I want, I don't want things because if I don't want things, then I don't have to feel bad that I don't have them. And so the way that it was really manifesting for this person, was that they really felt like they didn't want any luxury things. They didn't want to take the trips, they didn't want of anything, material. And in some ways, they actually looked down on it. And the reason behind that was they wanted to protect that feeling inside of either a not being enough or be that feeling of not having it and therefore being upset or sad or feeling that lack was really to protect their expectations. So I asked you, what are beliefs about money that you have, that might be holding you back? What are beliefs about investing, that might be holding you back? What are beliefs about the ability to create passive income or create freedom or create this control that you can have of your life to just do whatever you want. And for you that might be sipping mai Tai's on the beach, or maybe that might be hustling and grinding to build some new business, that's going to make a huge impact. Because whatever that is, for you, that's great.
Steven Pesavento 08:13
That's absolutely phenomenal. I want to do both, I want to do whatever I want, whenever I want, I also want to build something that's going to make a huge impact in the world. And for you once you can start seeing what that is for you and why you feel that way and what's important. And you can attach a need for these things, these material things, these material experiences, these spiritual impact that you can make in the world, the the influence the power, the tool, that money can be for you, once you start creating that visibility into what that'll actually do for you. When you can attach that to meaning when you can attach that to a feeling when you can have a purpose for that money, a home for it, a plan for it a way to grow it away to have it work for you, when you have that, that's when great things will happen. That's when more money will flow to you than you've ever thought of maybe you have millions of dollars right now maybe you have hundreds of millions of dollars right now. However, you can have whatever you desire and believe in your mind that it is what you actually are worthy of. And that actually has an intention behind it, both spiritual and material. Those are two key pieces. And when you can first understand those beliefs that may be holding you back from truly believing that that money is going to flow to you easily and that you're going to make smart decisions and that the decisions that you make all happen for a reason that you're learning lessons. When these things start happening for you. Big changes will happen. And that's why it's so critical to be diving into materials just like here on the investor mindset.
Steven Pesavento 09:59
So If you've been listening, make sure you hit that subscribe button would love for you to drop a five star review. It's one of the greatest ways that you can thank me for the work that we do, as well as allowing the algorithm to share this with more people. So I encourage you to take a step back, pull over when you get to your destination, and just ask yourself that question, what do I think about money? And be conscious about where those thoughts come up? When you're making investment decisions when you're making buying decisions? When your kids are asking to go buy something, or when you're thinking about your financial future? It's key to start recognizing what is that thought that automatically is happening subconsciously, that and when we can start recognizing it, we can start seeing it. And honestly, just by seeing it, we're already halfway there. Now when we change that belief, which we'll talk about in another episode, and we can change those beliefs, we can really unlock some incredible things. So thank you so much for listening. If you like what we're doing here, and you're interested in getting involved in what we do, investing, you can head over to Vonfinch.com/invest, you can get registered, we've got a great resource if you're new to passive investing, head over to Vonfinch.com/invest To find out more and we'll share some of those resources with you. Thanks again.
Steven Pesavento 11:39
Thank you for listening to the investor mindset podcast. If you liked what you heard, make sure to rate review, subscribe and share with a friend. Head over to the stevenp130.sg-host.com to join the insider Club, where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.