Break through your income plateau using these 9 money mindset tips!
Summary
TLDRDenise Duffield-Thomas, a money mindset mentor, addresses the common issue of income plateaus and offers nine strategies to overcome them. She emphasizes the importance of examining money blocks, identifying specific fears, understanding tax implications, surrounding oneself with higher-earning individuals, setting clear income goals, expressing gratitude for income, taking creativity breaks, giving oneself permission to earn more, and focusing on actions that lead to higher income levels. Her approach encourages individuals to break through their comfort zones and achieve financial growth.
Takeaways
- 📈 Income plateaus are a normal part of business growth and represent your current comfort zone with money.
- 💡 Regularly re-evaluating your money mindset is crucial, even if you've done it before, to avoid slipping into old habits or beliefs about money.
- 🔍 Identifying specific fears about money can provide valuable insights into why you might be holding yourself back from earning more.
- 💰 Understanding and making peace with taxes is essential as they are a part of earning more and growing your business.
- 👥 Surrounding yourself with people who earn more than you can inspire and motivate you to break through your income plateau.
- 🎯 Setting new, clear financial goals is important after achieving your current ones to keep moving forward.
- 🙏 Expressing gratitude for the money you've earned helps to acknowledge and celebrate your successes, which can be motivating.
- 🚀 Taking creativity breaks can rejuvenate your ideas and help you come up with new strategies to increase your income.
- 💪 Giving yourself permission to earn more at a deep level is a powerful step in breaking through income barriers.
- 🔥 Focusing on actions that have worked for you and discarding what hasn't is key to reaching the next income level consistently.
Q & A
What is the main topic discussed by Denise Duffield-Thomas in the transcript?
-The main topic discussed is how to overcome income plateaus by improving one's money mindset and implementing strategies to break through financial barriers.
What does Denise suggest as the first step to address an income plateau?
-The first step is to examine one's money blocks and revisit their money beliefs, as these can change over time and may be affecting their income growth.
Why does Denise emphasize the importance of identifying specific fears about money?
-Identifying specific fears about money is crucial because it helps individuals understand what might be holding them back from earning more and provides valuable insights for overcoming these fears.
How does Denise relate taxes to income plateaus?
-Denise suggests that some entrepreneurs might be holding themselves back due to fears of paying more taxes with increased income. She encourages addressing these fears to remove barriers to income growth.
What is the significance of the people one surrounds themselves with, according to the transcript?
-The people one spends the most time with can significantly influence their income level. Associating with higher earners can inspire and motivate one to increase their own income.
Why is setting a new income goal important after reaching a current goal, as per the transcript?
-Setting a new goal is important because it provides a clear direction and purpose for income growth. Without a new goal, one might feel aimless and fail to progress further.
What role does expressing gratitude for money play in overcoming income plateaus?
-Expressing gratitude for money helps to acknowledge and celebrate achievements, which can prevent feelings of emptiness and motivate one to pursue further financial success.
Why does Denise recommend taking regular creativity breaks?
-Creativity breaks are essential for refreshing one's ideas and perspectives, which can lead to innovative solutions and strategies for breaking through income plateaus.
What does giving oneself permission to earn more entail?
-Giving oneself permission to earn more involves internalizing the safety and acceptability of increasing one's income, which can help overcome subconscious barriers to financial growth.
How does Denise suggest one should approach work to break through an income plateau?
-Denise suggests focusing on actions that have proven helpful in the past and discarding those that don't work, emphasizing the importance of consistency and strategic effort to reach the next income level.
What additional resources does Denise offer for those looking to break through their income plateaus?
-Denise offers her books, social media content, and the Money Bootcamp program as resources for individuals seeking to improve their money mindset and financial growth strategies.
Outlines
🚀 Overcoming Income Plateaus
Denise Duffield Thomas, a money mindset mentor, discusses the common issue of income plateaus. She emphasizes that it's normal to experience these and suggests nine strategies to overcome them. The first strategy involves examining one's money blocks and beliefs, as these can change over time and hinder progress. Identifying specific fears related to money is the second strategy, which can reveal valuable insights. The third strategy is to understand and make peace with taxes, as they can be a barrier for some entrepreneurs. The fourth strategy is to evaluate the people around you, as your income can be influenced by your social circle.
🎯 Setting and Celebrating Financial Goals
The fifth strategy is to set clear financial goals to avoid vague aspirations. Celebrating achievements, as mentioned in the sixth strategy, is crucial for acknowledging progress and avoiding an endless pursuit of more. The seventh strategy is to take creativity breaks to foster fresh ideas and innovation. The eighth strategy is about giving oneself permission to earn more, addressing internal barriers to financial growth. Lastly, the ninth strategy focuses on taking consistent action and focusing on what truly works in moving towards the next income level. Denise encourages her audience to follow her on social media for daily tips and to join her Money Bootcamp for further guidance.
Mindmap
Keywords
💡Income Plateau
💡Money Mindset
💡Money Blocks
💡Specific Fears
💡Tax
💡Social Circle
💡Goal Setting
💡Gratitude
💡Creativity Breaks
💡Permission
💡Consistency
Highlights
Denise Duffield-Thomas, a money mindset mentor, shares nine strategies to overcome income plateaus.
Income plateaus are normal and represent your comfort zone, indicating discomfort when pushing beyond it.
To break through an income plateau, one must revisit their money beliefs and mindset, as these can change over time.
Identifying specific fears about money is crucial, as it provides valuable insights into potential blocks.
Understanding and making friends with tax is essential for entrepreneurs who may be limiting their income growth due to tax concerns.
Surrounding yourself with people who earn more can inspire and help you break through income plateaus.
Setting new, specific income goals is important after achieving the previous ones to continue growth.
Expressing gratitude for the money you earn is essential to acknowledge and celebrate your financial successes.
Taking regular creativity breaks can help refresh your ideas and lead to the next level of income.
Giving yourself permission to earn more is a mental step that is crucial to breaking through income barriers.
Focusing on actions that lead to the next income level is key, ditching what doesn't work and embracing what does.
Consistency in applying strategies is recommended as a powerful method to overcome income plateaus.
Denise offers further assistance through her books and Money Bootcamp program for those ready to do the money work.
The message emphasizes that it's possible to break through income plateaus and encourages taking the next step.
Transcripts
[Music]
hey friend it's denise duffield thomas
here money mindset mentor author and
founder of moneybootcamp for the last
decade i've helped so many people around
the world to upgrade their money mindset
and break through income plateaus and
our topic today is exactly that what do
you do when you've hit an income plateau
and it's so frustrating especially when
you've been doing so well and then it
flatlines don't worry i've actually got
nine strategies to help you get over
those humps today
but i want to start by saying what
you're experiencing is completely normal
everybody has those humps in visitors
and
you don't need to worry about it but i
want you to grab your pen and some paper
and we'll get straight into what to do
about it because your income plateau
it represents your comfort zone and
that's why it feels so uncomfortable
when you want to break through that it's
like your own self-imposed glass ceiling
and that's why we often sabotage
ourselves so i want you to know
having an income plateau does not mean
that you're not meant to be successful
in business it doesn't mean that you're
never going to be able to break through
that it is just a representation of what
your comfort level is at the moment
about how much you believe you can earn
and where your mindset with money is
right now so it's always very telling to
see where you've hit an income plateau
but trust me this won't be the only one
as your comfort zone expands you're just
gonna hit the next one that's totally
okay there will always be more so as i
said i've got nine strategies for you to
increase your income so let's dig into
the first one your money mindset work
all right number one is i'm going to ask
you to have a really good hard look at
your money blocks
every time an income plateau happens
it's an amazing opportunity to revisit
your money beliefs even if you've done
it before because your thoughts and
feelings about money right now
might have changed maybe you've slipped
into some old bad money habits or you've
forgotten that you need to work on your
money mindset all the time as zig ziglar
says it's like having a shower if you
miss a couple of days you start to stink
and that's why you have to work on your
money mindset on a regular basis
i do as well even though i'm a
multi-millionaire even though i teach
this stuff i have to work on my blocks
too
if i start to think
i think i'm good now i think there's no
more to learn guess what my income
plateaus as well so i keep on doing the
work
number two
you have to identify your specific fears
about money now this might feel yuck and
challenging but it's a really important
piece
what are you actually afraid of if you
earn more money
what would happen good and bad
and i want you to leave space for your
first gut answer because there's usually
some gold there and if you're willing to
look at it you'll get very valuable
information on clearing it
write out at least one fear that you
have about money because there's some
gold there and you'll get some really
good information
number three it's time to make friends
with tax
yes taxes now i see a lot of
entrepreneurs hold themselves back at a
particular income level because they
don't want to pay more tax now of course
there could be other financial
implications
maybe you're worried that you're going
to lose benefits if you earn more maybe
that you'll feel like you'll have to
start paying different types of taxes
maybe you'll have to start charging
taxes to your clients as well if you
earn more it's really good to look at
your fears and see if there's anything
symbolic about this income level for you
number four it might be time to upgrade
the people around you you might have
heard that quote that from jim rohn that
says your income is the average of the
people that you spend the most time with
so i want you to look at your business
buddies and your mastermind and get
honest because if everyone else's income
has plateaued that could be a clue you
might have plateaued to the point where
you're the average if you want to break
through this next income plateau it
might be time for you to move into a
space where people are earning more
money than you so it'll inspire you to
increase your income as well
number five is it time to set a new goal
now i see a lot of entrepreneurs who
actually hit their income goal but they
haven't thought ahead to the next one
and they're like i don't know why i'm
not earning more it's because you
haven't made space for what that next
goal is and you might be really vague
right now saying i just want to make
more money next year so you have to get
more specific what does more money look
like to you make sure you're being very
very clear on what that next income goal
is then you can actually know if you've
hit it
and then you can celebrate it
which leads me to my next point
number six
this is really important expressing
gratitude for all the money that comes
in so many of us just go next goal next
goal next goal and we do not celebrate
and anchor it in and so sometimes our
successes feel a little bit empty
because we're not acknowledging them
we're just like that's not good enough
what's the next one that's not good
enough what's the next one and that's
where you can get stuck
sometimes you need to take stock
when you've hit an income plateau and
really look back and see how far you've
come
take a little breather and then you can
regroup for the next goal
number seven you have to take regular
creativity breaks because that's going
to help you go to the next level fresh
ideas new products new services new
offerings creativity requires getting
out of your current environment you
might need to go somewhere new
talk to new people go somewhere out of
your comfort zone because it's not
necessarily going to be the same ideas
that will get you to the next level it
doesn't mean you have to throw out all
your programs but you need to refresh
your creativity and your brainpower
number eight
how many that's it okay you actually
have to give yourself permission to earn
more you have to tell yourself it's safe
for me to go to the next level it's safe
for me to earn more it's safe for me to
out earn other people there's so much in
that you have to give yourself
permission to break past this next
income plateau
and you know what that's probably the
most important thing giving yourself
permission and it might sound really
silly because you're like yeah denise i
do want to earn more
but you need to feel it at a cellular
level that it's safe
for you to make more money you have to
reassure yourself all the time
it's safe for you to make more money
all right number nine time to go to work
this is where you have to really look at
the stuff that has helped you and ditch
the things that don't
you have to get focused on the action
that will take you to the next income
level now every time i've been at an
income plateau i think oh no this is
really real
and i start to make up stories no no
that now i've definitely earned all the
money i can and it's not true but it's
going to take some new strategies to go
to the next level all right consistency
is always a great strategy
all right so that's nine things
if you want my help to break through
this next level
here's how we can get started first of
all make sure you're following me on
social media because i share tips like
this every single day and of course if
you want to go to the next step you can
get one of my books they're available
all over the place but if you've been
listening and you think oh my god i'm so
ready to do this money work then come
and join us in money moneybootcamp if
you want more information you can just
send me a message with the word bootcamp
i'll send you all the stuff and we can
see if it's right for you
otherwise just go and do denisedt.com
bootcamp and find out all about it
all right gorgeous this next income
plateau you can totally totally break
through it it's your time you're ready
for the next step all right i'll see you
again soon
[Music]
you
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