How to identify psychological patterns costing you money
I spent thousands of dollars on a marketing agency that ended up being a complete flop. For several months I saw money go down the drain. Loss of money hurts, but loss of time hurts more.
Ah. How did I get here again? This was the second time I had invested months and thousands of dollars with a service provider with nothing to show for it.
After the worst of the emotions had passed, I reluctantly pulled out my journal. I had every reason to feel wronged (because I had been), angry (because how dare they?), and self-pitying (because I’m a good person!).
But I knew I couldn’t learn anything that way. I knew my only chance to prevent this from happening again was to figure out what I could do better next time.
So I asked myself the one question I had been avoiding. “How did I co-create this?” What was my part in this, if any? What were my blind spots? Could I have done anything differently?
I finally saw it. I missed the signs. Their lack of initiative and attention to detail was evident from day one. But I was so determined to make it work. I I was chasing them.
This is the part of the wealth-building journey that no one talks about: identifying the psychological patterns that subconsciously drive your decision-making, unlearning, and rearranging.
Today, I’m going to share some common patterns I’ve seen in my work with clients and students that may be holding you back from your financial goals before you know it.
Trust your sense of security to money
How this turns out: You have money but you still don’t feel safe. You’re still holding on, checking and second-guessing every purchase. You still deprive yourself of little luxuries because you tell yourself you don’t really “need” it and never ask yourself if you “want” it.
Do you imagine what your life will look like when you reach a future financial milestone?
How this hinders your success: On paper this can create a lot of “success”, but behind the scenes it can look like anxiety, stress and lack of enjoyment. It can also limit your growth due to your tendency to be risk averse and focus on small wins rather than big opportunities.
How to start changing this: Start building your sense of security internally. Nothing can happen outside of you to do you feel safe. At some point you have to start allowing yourself to feel safe.
Subtracting your self-worth from your net worth
How this turns out: You always strive to achieve more; Not from a place of enjoyment, but from a place of pressure. Your goals depend not on what will bring you the greatest satisfaction, but on how you will be perceived when you achieve them. you just request to achieve these goals – you feel like yourself need …because who are you without them?
How this hinders your success: This can make you more vulnerable to “quick” or “shiny” strategies that promise success, and make you more likely to spend your money on things you think “look impressive” rather than things you truly value. It can also make you more prone to burnout because you may constantly neglect other aspects of your life to achieve your goals.
How to start changing this: When you start valuing yourself for who you are, not just for what you do or have, you’ll eventually be able to stop chasing so much and enjoy the journey.
Postponing your “real” life until a future financial milestone
How this turns out: You imagine what your life will look like when you reach future financial milestones. When you get there, Later you’ll start doing X thing you’ve always wanted to do, Later You will feel like your “real” life has begun.
How this hinders your success: You may think it’s manifesting or visualizing, but sometimes you’re just disconnected from your current reality. This feels easier than starting to make small changes today that align with the vision you want in your life.
How to start changing this: There is a mini version of the life you want that you can start living right now, for example if you dream of traveling, start with day trips; If you have a big house dream, start hosting in the house you currently own.
After two failed hiring attempts that cost me thousands of dollars and months of time, I could move on to the next marketing agency, hoping that “this time” would be different. Or I could give up completely, swearing they were all scams.
But none of this would change the one thing that drives my long-term results: the subconscious patterns behind my decision-making process.
Paridhi Jain is the founder TalentedSmartIt is an app that helps adults learn to manage, save and invest money through financial education courses and classes.
- The advice given in this article is general in nature and is not intended to influence readers’ decisions about investments or financial products. They should always seek their own professional advice, taking into account their personal circumstances, before making any financial decisions.
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Paridhi Jain is the founder of the financial education platform SkilledSmart, which has helped hundreds of adults become financially confident by teaching them practical strategies for managing, saving and investing their money.
