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Overcome limiting beliefs about money

You’re not in veterinary medicine to get rich, yet economic realities require money in order to make a living

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Photo courtesy ©BigStockPhoto.com You probably have heard the statement “I’m not in it for the money” from team members—or you may have uttered it yourself. And you probably said it because you believed it, or, because for whatever reason, you thought someone else needed to hear it.

The dilemma or conflict surrounding this statement occurs when team members believe they are not in veterinary medicine for the money, yet life circumstances and economic realities require money in order to make a living. That is a difficult space to hold, and it creates a strong internal conflict.

When I present at seminars and conferences, I often ask attendees, “Who wants to make money?” Nearly every hand in the room goes up. Who wouldn’t like to make more money?

Personal beliefs about money

In an online article, “How to Overcome Limiting Beliefs” (paidtoexist.com/limiting-beliefs), the author explains how the beliefs we hold comprise the fabric of our experiences and make us who we are. The stronger the belief, the stronger it is to rethink or create new habits to shake a belief that no longer serves us. Beliefs are formed through repeated thoughts we assume to be true. How often have you tested your assumptions or questioned your beliefs?

Beliefs can be created in childhood (through family traditions, conversations, and actions), associated with religion, and driven by society. Further, most beliefs are formed and solidified unconsciously.

The author posits, “It’s not like one day we woke up and thought ‘Man, you know what would be awesome? To go out today and repeat a bunch of thoughts that are going to turn into hard and fast conclusions that will keep me from experiencing the life I want. Yeah, I think that’s what I’ll do today!’”

Limiting beliefs may include but are not limited to:

  • Success is for other people;
  • Work must be a chore;
  • Money does not grow on trees; and
  • People with money are greedy.
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These beliefs may become part of your identity, making them difficult to change, or you may think others will find your volley in beliefs odd (if you were to care what others think).

The problem with these collective assumptions and continuing to believe them without consciously testing them is where you might be in your current stage of life. Especially if it’s not your truth where you are in your life currently. Start changing beliefs that no longer serve you, beginning with “I am not in it for the money.”

Turn it around; retrain your brain

Your beliefs become ingrained through verbal statements about them and by acting them out. However, you can retrain your brain toward a healthier outlook and belief system. It may feel odd at first, like a volley that your mind will play until a new path is created and a new belief is embraced or experienced as true.

Retraining previous limiting beliefs include:

  • I am deserving of success and all the choices available to me.
  • My passion is my work.
  • Money comes freely and easily.
  • People are generous and giving.
  • I am a valued member of the veterinary team, trained, compassionate, and engaged. With my fellow team members, we offer valuable veterinary services for our patients and their pet parents.

Other considerations for retraining your brain:

  • Managing money is one of the priorities in my life.
  • I earn more than I spend.
  • My financial reality is totally up to me.
  • I learn and use knowledge about money every day.
  • There is enough money to create abundance.
  • In order to become wealthy, I provide real value for others at a valued price.
  • The money I earned is showing the value I created for others.

Money is a tool; learn to manage it

Money is neither good nor evil; it’s a neutral resource that must be managed throughout life. Bringing money management under control ensures quicker financial bliss. Most often there is immense struggle around managing money (most often around the idea there simply is not enough). I urge you to determine your true needs and start evaluating your financial situation from a place that your needs are being met (which they probably are). Understand you have abundance, where you are, in the moment, in a perspective of gratitude.

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Develop a better relationship with money

  • Get organized; create a personal budget identifying what you earn and spend (truthfully).
  • Pay bills as they arrive; set up automatic payments.
  • Keep tabs on cash, know where the extra cash goes (typically on coffee, beer, dining out, retail therapy).
  • Save 15 percent of what you earn, directly depositing into the savings account or an IRA without ever “holding” it.
  • Minimize credit card debt; objectively identify the cards, the interest, ways to downsize the number of credit cards balances that are not decreasing.
  • Be kind.
  • Spend sensibly.
  • Identify your financial goals and work toward them.
  • Communicate your needs related to money and managing it.
What is your relationship with money?
If you’re prone to saying “I’m not in it for the money” or some other statement that undermines your relationship with money, rephrase it. Create a value statement that consciously supports an improved perception and management of money.

Fill in the blank to indicate what you currently believe:

Money is ______________________.

What money means to me: ________________________________________.

If in the future you catch yourself saying “I’m not in it for the money,” or some other statement that undermines your relationship with money, rephrase it. Create a value statement that consciously supports your improved management of money and the way you think about it.

Words and thoughts are powerful; what you say and think about, you bring about. Bring into your life a healthier understanding and relationship with money.

Rebecca Rose, founder and president of CATALYST Veterinary Practice Consultants, has 30 years of veterinary industry experience as a veterinary practice management consultant, a practice manager at two AAHA-accredited animal hospitals, and an award-winning veterinary technician. She is a NAVTA past president (2015-2017). Contact her at getCATALYST@CATALYSTVetPC.com or visit CATALYSTVetPC.com.

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