The Invisible Ceiling: 5 Money Blocks That Prevent You From Increasing Your Income

Money blocks are personal beliefs about money that are either not true or that don’t serve you any longer and which prevent you from achieving your desired financial situation.

If you would ask me two years ago what these are, I would probably just tell you that it’s some bullshit. But actually these limiting beliefs are the first thing that would hold us back from getting an income we deserve.

At the end of this list of money blocks that I collected, I will tell you a story of how I managed to increase my income last time I overcame a money block.

1. Fear of attachment or “I Don’t Need Money”

When I was a child, I’ve been told: “You must not attach yourself to anything because if you loose it you will regret it.”. And with that thought I lived for most of my life and believed it is true.

The limiting belief there was that I should not feel strongly about anything or anyone and when I do that, I don’t really want or need anything. It did help me for a long time because it saved me and my parents a lot of money while I was growing up. And I think it might be something similar for you as well if you have a similar belief.

This belief stops being useful after a long period of not spending, when we go and impulsively splurge on something that then creates for us problems we did not foresee.

That can (which I experienced) create unauthorised overdrafts, unnecessary fees, and decrease in emergency savings. These have a certain impact on your income – they decrease the amount you can spend on yourself and on essential stuff, so you end up with fewer resources to live with.

With the fear of attachment you might feel fine that your recourses diminish, because you didn’t assign high emotional value to it in the first place. But exactly for the same reason, why should your income start to increase? If you don’t feel strongly when money is leaving or coming to you, then it will only start to decrease. It’s like turning off the tap – the residual water in the sink will just flow out and you will end up with an empty sink.

2. “Money can’t buy me happiness

This belief is something I still believed in until recently. Of course we all want to be nice and kind people and believe that happiness is to be found everywhere. And it is true, but also it depends on the different levels of what we mean by happiness.

We cannot buy the feeling of happiness. There are plenty of stories where rich people had everything they wanted but were not happy. It is one of the main archetypes of a wealthy person which is a whole another money block.

So we must take care of our mental health and experience joy and be happy regularly. There are plenty of ways to do that which don’t cost a thing.

Yet there is another level of happiness – it is the one that is connected with your purpose and success in life.

Recently I dived deeper into what success means for me and I found that it is the ability to have or do things that make me happy, which I find very joyful, but also which are aligned with my core values, which allow me to fulfil my mission and live my purpose fully every day.

I found that many things I want to do or have will require some money. So, it that sense, money will buy me happiness.

Believing that money can’t buy happiness is again a self-fulfilling prophesy.

3. “I don’t deserve money

Do you really believe that you are not worth spending money on yourself?

This can be a lie that you keep telling yourself and others to look or sound more modest. Or it can be a belief that stems directly from your low self-esteem.

A person who doesn’t believe he/she/they deserve money won’t be getting it. It is as simple as that, but we keep forgetting this.

Remember: money is energy! You have to spend on yourself regularly; you got to direct that energy on to yourself because you owe it to the very hardworking and kind self that you are!

4. “I Hate Taxes”

Honestly, I burn with especially spicy passion when I hear people say “I hate doing taxes because the government is taking such a big chunk of money from us, it’s unfair!”.

Fun fact: Increase in income won’t make you invincible to taxes, you’ll still need to pay them.

The fact that government is taking a lot from us in form of taxes may be true, but in proportion to what you still have left after it, it is not that big. Let’s have a look at income tax brackets in UK:

  • first £12,500 = 0% tax (Personal Allowance)
  • Next £37,499 are taxed at 20% [£12,501 to £50,000] (Basic rate)
  • Next £99,999 are taxed at 40% [£50,001 to £150,000] (Higher rate)
  • And every penny after is taxed at 50% [over £150,000] (Additional rate)

So, for example, if you were to earn £60,000 a year, you would only be paying this:

  • Personal Allowance used
  • £37,499 x 20% = £7,499.8
  • £9,999 x 40% = £3,999.6
  • Total tax = £11,499.4

It is 19% of your annual £60,000 income. The other 81% you sill got to keep.

This money block may be keeping you from progressing on to the next bracket or even paying a different type of tax such as property tax or vehicle tax.

5. Workaholism or “If I had more money, things would be better”

It is probably this phrase that brought you to this post. Then why is it a money block?

This is the reason why you don’t have enough energy to put towards increasing your income.

You’re probably putting in immense hours into work, not eating on time or forgetting to, stressing yourself out by thinking about working in your downtime hours, have anxiety, sleeping problems and feel isolated because you work so much.

Don’t you think that you would have much more energy to put towards increasing your income if you would take a proper care of yourself?

And now you might be thinking “How will my income ever increase if I don’t put in all second of my week into working?” And it is also a part of this money block.

You see, a lot of the time, just like with the fear of attachment money block, money will attract only to a healthy and balanced mindset about money. Just like with people, we tend to get repelled by someone seeking our attention all the time, the money will act in a similar way by making you work more and more just to create more of that friction. In the end, you will keep doing that with very hard earned results.

It doesn’t have to be this way.

Enjoy your life and what you already have and money will follow.

Last year, before the pandemic, I was super determined to get a job and start getting a regular income.

Before I got a new job I was unemployed for 2 years and it was getting to the point where you go to so many interviews that you’re already really good at them and don’t really get nervous beforehand.

But I didn’t get that new job until I really started believing that I deserve it. And my self-esteem started shifting towards believing that I deserve a job when I started taking real care of myself and believing in myself and that I deserve all the great things in the world to fulfil my mission in this life.

Not long after, I finally shifted from “I don’t deserve money” to “I deserve everything and more”, and I got an interview for a role in a place I love. Getting a job and securing a regular income was just the first step but the most important step in increasing my income from £0 to £500 a month.

There are many more money blocks and hopefully I will find some that blocking me from levelling up my own income as well. If you want to learn more about money blocks with me, mention it to me.

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