“Our beliefs came about because they supported us in one point in our lives”
The Grid: Caroline, you talk about how our feelings towards money or our ‘money mindset’ may hinder us or set us free.
Caroline Domanska: Your ‘money mindset’ or your ‘money why’ is the reason you get up for work every day. It’s the reason that you strive to make a living. It is also perhaps the reason that you’re not getting that promotion that you so desperately want. It may well be the reason that, despite the fact that you’ve got a great business idea, it’s still staying in your head and you’re just plodding along and getting paid to work on somebody else’s dream.
The Grid: We all think about money and work hard for it but talking about it is often seen as distasteful. How much does that impact our mindset?
Caroline Domanska: Everyone has a ‘money story’. We may feel controlled by money or harbour feelings of guilt towards it or somehow feel that money is stopping us from making life-changing decisions. Money is a difficult subject to talk about. Often when we talk about it in public, people start to feel a bit uncomfortable. Money is a taboo subject in many cultures and it is almost always a private conversation.
The reality is that money is an emotional minefield. It has the opportunity to create wealth but also be used as a weapon. So, it can get us what we want and also stop us from getting what we want. It’s a currency that is really tightly tied to our basic needs, to things like food, shelter, clothing, but also obviously affords us great luxury in life as well as simple peace of mind. To complicate matters further, we all think differently about money.
The Grid: And that, in itself, can be a very dividing thing…
Caroline Domanska: Yes, I’m sure everybody can think of a time where they haven’t seen quite eye-to-eye with a friend or colleague or loved one about money. In really serious situations, of course, it can destroy personal or business relationships as well.
The Grid: How do we come face-to-face with our money mindset?
Caroline Domanska: Well, I challenge you to say if you haven’t found your financial freedom yet…if you’re not doing what your heart really desires, you may be surprised by what’s holding you back around your money mindset. You may hate the idea of having to talk to someone who ultimately wants to sell you something every time you want to discuss money however, money coaching allows you to have that conversation without the pressure.
The Grid: So knowing our money mindset should give us the power to change it?
Caroline Domanska: Yes, I mean we rarely hear other people’s money stories. Have we even explored our own? The good news is that we can remove the speed limit. We can create changes in our money story.
Once we’ve become aware of our money stories then we are becoming aware of the beliefs that we have around money and how they might be out-dated, restricted or even unknown to us. We can change beliefs by focusing on other truths.
It’s important to remember that our beliefs came about because they supported us in one point in our lives. They were very true for us at that time. They gave us guidance. They gave us framework. They gave us a way of doing things and they worked well for us at that point in time. Perhaps it is time to question if those beliefs still belong to you or are out-dated.
Changing beliefs isn’t about dismissing or denying or ignoring the belief and just replacing it with some positive mantra or something like that. It’s about saying that that belief was there and it did help me thank you very much at some point and thank you for that.
Following on from that is thinking about what possible other truths could there be. What other ways could I look at things that would support me to grow in my personal and business success.
A limiting belief could be something like, ‘it’s selfish to want to have a lot of money’. Another way of looking at that could be, ‘I’m really, really excited about my capacity to earn and value for both myself and other people in the world.’ It’s your choice.
May 10, 2017
This is an extract from an interview with Caroline Domanska, Founder of Money Mindset Coaching.
This interview is provided as general information to readers of The Grid. It does not constitute, and should not be construed as, advice on any specific matter or advice on which you should rely, nor does it create any contractual, tortuous or fiduciary relationship. You should not act or refrain from acting on the basis of this information.
Interview by May Khizam, Founder and Chief Strategist, The Grid email@example.com
The Grid Belief Statement: Building loyalty for organisations big and small through actionable information sharing, the Grid believes in the transfer of information that can be converted to knowledge and used instrumentally in business in the form of modified or new practices. For more interesting interviews by The Grid, click www.thegrid.ae
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