How Negative Self-Talk Can Destroy Your Financial Future

Does negative self-talk influence your success? Do you ever say things like,

• “I’ve never been good with money.”
• “I hate budgets.”
• “I’ll never be a 6-figure earner.”
• “My market won’t pay premium prices.”

If you’ve ever heard these statements come out of your mouth—or even in your head—then you’re engaging in a damaging habit known as negative self-talk. By telling yourself these lies (and yes, they are lies) you’re reinforcing the beliefs that go along with them.

People who know me have heard me say that numbers are not my friend. I’d rather write a 200 page book than make change in the supermarket all day. But I am also fully confident that I can ran a multimillion dollar LNC business and not have a budget. Because I did.

And I had people around me who were good with numbers.

The difference between acknowledging your weaknesses and negative-self talk is that you put yourself down with negative self-talk. You defeat yourself.

What you visualize and believe is what becomes true.

Tell yourself that you’re not good with money, and you won’t be. Believe that budgets are horrible chores to be reviled, and you’ll resist creating one. Convince yourself that you can’t earn a 6-figure income, and you won’t.

It’s not “the secret.” It’s a scientific fact. Known as a self-fulfilling prophecy, this kind of self-talk results in poor performance simply because we act as if it’s already true.

If you tell yourself that you’ll never be a 6-figure earner, you will not do the things that 6-figure business owners do. You won’t work to grow your client base (“No one will be interested in LNC services anyway”), you won’t increase your consulting rates, and you won’t improve your brand to earn a 6-figure income (“A beautiful brand isn’t necessary at this income level”).

By contrast, if you act and think as if you already are a 6-figure earner, you’ll approach your business quite differently. Your confidence level will increase. You’ll present a very different brand to your prospective clients. You’ll go out of your way to connect with those who can and will afford to pay your higher rates.

How to Combat Negative Self-Talk

The first step toward changing your negative self-talk is to simply acknowledge that you do it. Tick a mental checkbox every time you catch yourself making negative statements, whether out loud or in your head.

Make a note of the ones that come up most often for you, and identify their origin if you can. For example, if your ex-husband continually berated you for your spending habits, chances are your “I’m no good with money” mantra can be laid right at his feet. It’s time to turn that thinking around.

The next time you catch yourself saying “I’m no good with money,” take a minute to recall 5 instances where you were good with money. Maybe you paid off your credit cards or saved for a house or built an emergency fund. Rephrase your self-talk to, “I used to be bad with money [if that’s true], but now I make smart choices to achieve my goals.”

Just as negative self-talk becomes a self-fulfilling prophecy, so does positive self-talk. Reframe your thinking, and your LNC business finances will certainly improve.

Pat Iyer MSN RN LNCC is a coach, author, and speaker. She began doing legal nurse consulting in 1987 and is currently serving a group of attorney clients.