Money experts say these three money beliefs may be hindering you from earning more
Self-made billionaires say these three beliefs could stop you from boosting your income
Self-Made Billionaire: Throw away these three money beliefs to increase your income – “Most people never even start”
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Many Americans want to make more money.
A survey by the bank from June 2025 shows that almost half of Americans need to earn at least $100,000 to feel safe. However, if the median household income is around $84,000, the latest Census Bureau estimates suggests that many Americans will be paid a lot to reach that threshold.
There are a few steps you can do to make more money. You can seek salary increases at your current job and explore other high-paying opportunities. You can also start side hustles such as freelance or rental spare rooms, depending on the resources available.
However, it must start regardless of the path you selected. And “Most people never even start,” writes the self-magic billionaire, written in a recent newsletter by author, author and money expert Ramit Seti.
“Not because they are lazy, not because they are not smart enough, and not because they don’t want any more,” he wrote. “Most people don’t start because of some quiet beliefs running in the background.”
These three money beliefs could be in the way of making more money, Seti said.
1. You need to know how to do this by now
Good money management, such as finding ways to supplement your income if you’re not making enough, is a skill no one has borne, Seti said. However, many people still feel embarrassed when they don’t know what next steps to take to increase their income or achieve other money goals.
“If you’re good at work, if you’re always smarter or praised for being capable, you might feel embarrassed to admit that you don’t know how to make more money outside of your pay,” he wrote.
The truth is, in order to achieve your goals, you may need to ask for help, receive additional training, or teach yourself through books and online resources. Negotiating a salary, for example, is certainly a non-inherent skill, but learning strategies recommended by career experts and other successful negotiators can help you increase your income significantly.
2. Your talent should make it easier to achieve your goals
Even if you have skills and talent that seem to make success easier, Seti writes, it probably requires a little patience and sustained action.
Our culture celebrating “viral success stories” and “one night billionaires” makes it even easier to fall into the trap of believing your journey will be easier, but that’s not how lasting success is built,” he writes.
Increased income, especially when it involves adding a second stream of income, “it takes more than talent. It takes a system. It takes patience. It requires smart and repetitive action,” Seti wrote.
You may need to try out a few different side hustles before you find something that is advantageous and fun for you. Building your own business can require trial and error to find the best way to sell yourself and your products. You need to invest a significant amount of money to get the return you are looking for. However, all of these plans require time and cooperation.
“If you let go of the fantasy that it should be easy, you can finally start working,” Seti added. “And if you stop waiting for it to feel easy, you’ll be amazed at how fast things move.”
3. You can start later
Sometimes life gets in the way of progressing towards your goals. You will finally see progress in your savings journey and be hit by car repairs or medical costs you need. You are finally ready to buy a house, but the mortgage fees will be ticked and suddenly it will become uncontrollable.
These obstacles can be out of your control and emphasize the importance of prioritizing your funded emergency savings accounts, but they emphasize prioritizing other obstacle savings accounts. If you tell yourself you start that business or start investing “when work is slow” or “when kids are leaving home” or “in the New Year,” Seti says.
“If “later” disappears for decades, it puts off the goal from “later”,” he wrote.
This belief tricks you into thinking you are making progress because you are not saying “never” but rather saying “not now.” And that procrastination will kill your dreams.
“Timing is by no means perfect. Life is not magically simple. Calendars don’t suddenly release three months to bring you together your actions,” writes Seti.
You need to take action. And while that doesn’t mean trying to build a six-figure business in a day, it means planning, breaking it down into manageable steps, and working through them over time.
“At one point you admit, ‘Stop waiting for the right time.’ You either do this or you don’t,” Seti said.
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