Break through your income plateau using these 9 money mindset tips!

Summary

Denise 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

00:00

🚀 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.

05:01

🎯 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.

Keywords

💡Income Plateau

An income plateau refers to a period when an individual's earnings remain stable without significant growth. In the context of the video, it represents a stagnation point in one's financial progress, which can be frustrating but also serves as an opportunity for self-reflection and growth. The speaker emphasizes that hitting an income plateau is a common experience and not a sign of inability to succeed.

💡Money Mindset

Money mindset refers to an individual's attitudes, beliefs, and thought processes surrounding wealth and financial matters. It significantly influences one's financial decisions and outcomes. The video highlights the importance of regularly evaluating and improving one's money mindset to overcome income plateaus, as it directly affects one's financial success and growth.

💡Money Blocks

Money blocks are internal obstacles, often rooted in limiting beliefs or past experiences, that prevent an individual from achieving financial success. These can manifest as fears, self-doubt, or negative attitudes towards money. In the video, the concept is used to illustrate the need to identify and address these internal barriers to move past income plateaus.

💡Specific Fears

Specific fears refer to the particular anxieties or concerns an individual may have related to money or financial situations. These fears can hinder one's ability to grow financially. The video emphasizes the importance of identifying these fears as a step towards overcoming an income plateau and improving one's financial situation.

💡Tax

Tax refers to the mandatory financial charge imposed by the government on individuals and businesses to fund public services and infrastructure. In the context of the video, it highlights how some entrepreneurs may limit their income growth due to concerns about increased tax obligations, and the need to address these concerns to break through income plateaus.

💡Social Circle

Social circle refers to the group of people with whom one interacts regularly. The video discusses the impact of one's social circle on their financial success, suggesting that surrounding oneself with higher earners can inspire and motivate one to increase their income.

💡Goal Setting

Goal setting is the process of identifying and committing to specific objectives or targets one wishes to achieve. In the video, it is presented as a crucial strategy for moving beyond income plateaus, emphasizing the need for clear and specific financial goals to drive progress.

💡Gratitude

Gratitude is the feeling of appreciation and thankfulness for what one has. In the context of the video, expressing gratitude for the money one earns is highlighted as an important practice for acknowledging and celebrating financial achievements, which can contribute to a more fulfilling sense of success and motivate further progress.

💡Creativity Breaks

Creativity breaks refer to periods of time dedicated to rest, exploration, or engaging in new experiences to stimulate innovative thinking and problem-solving. The video emphasizes the importance of taking regular creativity breaks to generate fresh ideas and strategies for overcoming income plateaus and achieving financial growth.

💡Permission

Permission, in the context of the video, refers to the internal approval one gives themselves to achieve a higher level of financial success. It involves overcoming self-imposed limitations and fully embracing the possibility of earning more money.

💡Consistency

Consistency refers to the act of regularly engaging in certain behaviors or practices to achieve a desired outcome. In the video, it is presented as a key strategy for overcoming income plateaus and achieving financial success, emphasizing the importance of persistent effort and action.

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]

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