Living in a society where money is usually either worshipped or loathed, it cannot be helped that we have thoughts about money that we are not fully conscious about. What we may not recognize is how much such beliefs shape our attitudes and actions towards money. This includes the positive thoughts and of course, the negative thoughts as well.

No need to be too hard on yourself; there are actually ways for you to turn such views around to new ones that will work to your advantage. Check out our list of negative thoughts on money; one of them might be the holding you back from achieving your financial goals. Provided as well are better alternatives to such beliefs.


  1. “Money is the root of many problems.”

Why it’s holding you back: Those who come from the middle class to lower class or non-entrepreneurial families are made to believe that this is the case, mainly to discourage them from going for the money. However, while it is true that money cannot buy us happiness, what it definitely does it make our lives easier, more comfortable, and more fun.

Change this thinking to: “Money solves problems.” The more you think negatively of money, the less likely it will come. In order to gain money, you must have some respect for money. It’s not the solution for all problems, but money can solve many things. Until you start thinking something like that, you will probably be making the same financial mistakes again.

  1. “I will never be able to pay off all my debts.”

Why it’s holding you back: The tendency when you have thoughts like this is to not even bother to try paying them off. The longer you do this, the more your debts go piling up on top of each other. If you continue to do this, it might result in a chain of events that would be undesirable for you.

What’s worse is ignoring those debt collectors will not make them go away; they will haunt you for the rest of your life, adding more stress and wasting the energy that you could be used for working or better financial management.

Change this thinking to: “I will pay these debts, even if it means starting small.” You do not have to pay all your debts with one splurge, but by doing it continually and making it a part of your habit, you will surely clear them off in a few years or at least, make the balances go significantly lower.

5 Simple Ways to Clear and Manage Debts Effectively

Don't Let It Bring You Down: How To Change Your Negative Thoughts On Money

  1. “I don’t know anything about investing, so I’d rather not risk it.”

Why it’s holding you back: The key to building your fortune is the willingness to try something new. That is also how the world is revolutionized. Just imagine how the world would be if people lived within their comfort zones. You probably will not have the computer or phone or tablet you are reading this article from if that was the case! Mark Zuckerberg

Investing, no matter how difficult and scary it might sound to some, is highly important if you want your money to grow. They are not going to prosper by themselves with the very low-interest rates of banks’ savings account.

Change this thinking to: Rather than concentrating on the risks of an action, focus on its probable results instead. Of course, there is still the need to actually study the movement in the market before actually investing; however, the point is that you should not be afraid to take the risks in investments.

Mark Zuckerberg is on point with this quote: “The biggest risk is not taking any risk… In the world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

  1. “My money-earning capacity is only limited by the field I am in and my current position.”

Why it’s holding you back: In line with this thinking is the idea that the only way for you to earn more is by working harder or getting promoted, but what if you are already giving all you’ve got? Does that mean that it is already out of your control and that is all that you can ever get? You can probably see how limiting this kind of reasoning is.

Change this thinking to: “There are other ways to earn more money; they are only waiting to be discovered.” Ask yourself: what are the current issues or problems in my field right now?

What can I do or offer to solve such problems? Whatever field that is, there will always be problems that remain unsolved, and those who are bold enough to stand up and offer a good solution are usually rewarded handsomely. Aspire to be that person.

  1. “I need money to make even more money.”

Why it’s holding you back: Like the first thought we discussed, this is also a myth used to brainwash the average person. The truth is, if you are armed with a great, innovative idea, money will be no problem. What the wealthy ones know is that you can use other people’s money to build your fortune. There are countless of willing investors looking for the big idea they are going to invest on and talents who are willing to work hard and try something new.

Flexible Side Gigs To Make Extra Money

Change this thinking to: “I need great, unique, and innovative ideas to make money”. Revolutionary ideas do not discriminate; they can come from a CEO’s son or a farmer’s daughter. Neither are they innate in us.

Ideas come from hours and days of working and practising in your particular field, knowing about its history, ups, and downs, studying its past issues, how they are solved, and the current issues, and many others.

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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


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