6 Reasons Your Bank Account REFUSES to Grow

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For the first 29 years of my life, my relationship with money was less than ideal!

Sometimes it was good to me, sometimes it let me down. Sometimes it was there when I needed it, sometimes not.

But worst of all, it had control over me. No matter what I did, I couldn’t seem to make MORE!

Back in 2014 when I started learning about blogging and online business, I could see that, YES, people CAN make money online. And YES, anyone can do it (with some consistency and hard work).

I knew nothing about web design or content creation, and I couldn’t create a graphic to save my life. But that didn’t stop me from trying!

Over the next 2 years, I started close to 10 blogs, and by 2016, I still hadn’t made a DIME.

I felt stuck in 9-5 jobs that I hated and I knew I couldn’t make as much money as I wanted. I was frustrated and felt like giving up on online business.

And then it occurred to me: why were some online entrepreneurs making money within their first 6 months and I wasn’t? If they could do it, what the heck was stopping ME?

I started realizing: the only reason my bank account wasn’t growing was because of ME. I was holding myself back through negative beliefs, poor mindset, and a lack of control over my budget.

I know that (unfortunately!) so many people can relate to this, so if this is you, here are 6 reasons your bank account is staying stagnant and how you can get control over your finances!

1. You’re buying things you don’t need

Of course this sounds ridiculously obvious. But seriously, when was the last time you did an in-depth audit of your expenses and spending habits?

You should know exactly (like, down to the dollar) what your fixed and negotiable expenses are.

Your fixed expenses are your non-negotiables. This includes things like:

  • rent/mortgage payments
  • utility bills
  • insurance
  • taxes
  • transportation costs (car/bus pass)

Your negotiable (or variable) expenses are everything else. They’re the “extras” you like to pay for every month for added comfort including:

  • personal care (hair, makeup, beauty)
  • subscriptions
  • entertainment
  • dining out
  • social engagements
  • any extra curricular activities

The trust is this: if your bank account isn’t growing, you need to either cut back on your expenses OR increase your income. There’s no other way around it!

I’m a big fan of side hustles and I think every girl should have one! I make a full-time income from side hustles and if you want to learn how to build a profitable blog, I can help you with that!

But for most people, the quickest way to get more money is to cut back on expenses.

I’ve spoken to women who don’t like the idea of budgeting because it makes them feel “poor”. Having to watch their spending or cut down on “extras” throughout the month makes them feel embarrassed and ashamed.

We need to stop looking at budgeting as a negative thing, because in reality, it’s the exact opposite!

Having a budget and getting control over our finances is empowering and exhilarating, and practicing the self-discipline to spend wisely helps to build MEGA confidence.

And ladies, what’s sexier than confidence, empowerment and control?

2. You have limiting beliefs about money

Before you say this doesn’t sounds like you, trust me, we ALL have at least one untrue or limiting belief about money (I wrote an entire post about that here!).

Whether you think rich people are greedy, you feel guilty being successful, OR you just can’t see yourself ever making more than a certain amount, you’re unknowingly filling yourself with doubt and uncertainty.

I believe wholeheartedly that people create the realities they believe they deserve.

You may THINK you deserve wealth and happiness, but deep down, your subconscious is reminding you about the time Dad said, “money doesn’t grow on trees”.

Or maybe you’ve heard the common saying, “money is the root of all evil” so often that your mind’s decided it’s true.

Whatever your limiting beliefs are, you need to figure it out and start working to reprogram your mind!

Remind yourself that wealthy people aren’t all bad, that wealth allows for more generosity, and most of all, you DESERVE IT!

3. You think being busy will lead to success

We’ve all had these days: there are a million things on the to-do list and you get overwhelmed. In order to feel like you’ve accomplished something, you start doing the super easy tasks first.

By 5pm, your desk is organized, you have a new “goal slayer” wallpaper on your desktop, and you’ve planned out your meals for the week.

But what about those biz development phone calls you were supposed to make? What about that lead Sue had for you? What about that blog post you were supposed to write?

We need to get out of the mindset of believing busy = successful.

If you’re trying to grow wealth, you need to be laser focused on the tasks that will make you money!

Whether you’re trying to get a promotion at work or land a new client for your service based business, you need to seriously audit how you spend your time and prioritize the tasks that bring the highest return!

4. You get what you give

This may sound super harsh, but I promise it’s not meant to!

When it comes to making more money and getting out of a financial rut, it’s all about MINDSET.

You can have one of two mindsets: scarcity or abundance.

  • Scarcity mindset means you worry there isn’t enough money to go around. You think money is a finite resource and there isn’t enough for everybody so you need to grab your share at the expense of someone else.
  • Abundance mindset is the exact opposite! You believe wealth can be easily created and there are plenty of opportunities (and dollars!) for everybody.

So why does this matter?

People with an abundance mindset have a completely different experience with money than those with a scarcity mindset.

They’re more creative, adventurous, generous, and open with their pocketbooks. They’re more willing to give because they’re not terrified about making ends meet and bringing home enough money at the end of the month.

And we all know what happens when you give more: you get more!

This small mindset shift can make a HUGE difference to your relationship with money (and your bank account!).

5. You’re stuck in a rut

Getting stuck in a rut can happen to ALL of us (in fact, I’m sure it definitely does!).

We get used to the same routine, same salary, same budget, same EVERYTHING, until pretty soon, making more money seems totally unattainable.

We stop thinking about being creative and finding new ways to make money. Building a business seems unrealistic and when you’re in a rut, starting a side hustle suddenly seems like a lot of work.

Without a purpose, a “why”, and some mega-clear goals, your bank account is going to stay stagnant.

If you’re wondering how the heck to get motivated when you’re stuck in a rut, I have a post on that here.

It comes down to clearly defining your “why” in life. What do you ACTUALLY want? Maybe it’s to quit your 9-5, to retire your partner, or to open up a women’s shelter.

If you’re not crystal clear on your purpose and how much money you need to get there, your bank account is always going to be trailing behind and holding you back.

6. You don’t know how to get wealthy

A lot of the time we get stuck in a financial rut simply because we don’t know HOW to make more money.

It’s possible to be super driven and motivated to change without knowing the exact steps you can take to change your current situation!

Contrary to the ads we see on YouTube and Instagram, there are NO get rich quick schemes that actually work (not ethical ones at least!).

If you truly want to make more money, you need to either 1. get promoted/find a higher paying job, or, 2. start your own business or side hustle.

Both of these options are definitely possible with a large amount of patience, dedication, and WORK.

I have a post with 10 different side hustle ideas for you here!

If your goal is to get promoted or find a better job, start doing everything you can to LEARN what will get you there.

Ask questions, spend time with people in positions you want, take time on your own to learn about your company or business, and make your intentions known!

If you’re leaning towards starting a side hustle, there are SO many options available! You can start a local business in your city doing something you love, or you can build an online website, start a blog, and do affiliate marketing.

The sky’s the limit when it comes to online business!

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