Ep. 23 Mindset or Action? What’s Really Holding You Back Financially

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Are your money struggles caused by your mindset—or your lack of action? In this episode of the NetWealthNest Podcast, host Jim Leboeuf breaks down how limiting beliefs like “I’m not good with money,” “There’s never enough,” or “Investing is too risky” quietly sabotage financial progress.
You’ll learn how to:
Spot the hidden money mindsets that keep you stuck in paycheck-to-paycheck cycles.
Reframe limiting beliefs into empowering ones that open new possibilities.
Take micro actions—simple, small financial steps—that compound into long-term stability and wealth.
Apply a practical framework: Awareness → Reframe → Micro Action → Next Step.
Whether you’re just starting your financial journey or looking to break old habits, this short, actionable episode will help you move from financial frustration to forward momentum.
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Transcript

Jim 0:31

Welcome to the Netwealth Nest Podcast. I am your host, Jim Le Beth. Thanks for joining us again as we work to help you build financial stability and grow your net wealth. Imagine you're making a a meal. There's kind of two parts to the average meal. You have a recipe and then you have the actual act of cooking it, and that's kinda like your mindset versus the actions you're gonna take. You can have a great recipe that's going to make a great thing, but if you don't actually take the effort to. Cook the items or, or caught up the items and prepare the ingredients and mix 'em all together. You are not gonna get that great tastings meal. And so that's how I want us to think a little bit about our mindset and our actions. You've gotta get your mind in the right place with your money, and then you need to take actions to actually make that come to life. What happens for a lot of people is they let their mindset control their actions, or more accurately their lack of actions. And typically you see this with certain limiting beliefs that many people have about money, and these beliefs can come from a lot of different things. They could come from things like. How you grew up. They could come for from previous experiences you've had with money, good or bad. But those living into beliefs do dictate many people's actions and the actions that they do or do not take. And so let's talk about that a little bit and then how you can reframe some of that and move past it. What are a couple of popular limiting beliefs? I'm not deserving to have this much money. I don't know how to handle it. I'm scared I'm gonna mess it up if I do have more money. I'm just not good with money. There's never enough. I'm always short. when it comes to things like investing, it's too risky. My money won't grow, I'll lose it. All other people got lucky. I just don't have the advantage that other people have had. These are all limiting mindset beliefs that can hold people back from actually making. Actions. I'll give you a quick actual story of a client that I'm working with where they were making a solid income, but their limiting belief was there was never enough money. They were always running outta money. They were, not paying their bills on time and just really struggling paycheck to paycheck. And we sat down and we had to break through some of those mindsets around you do make enough money. You do have the capability to do everything that you're talking about, but you gotta have some actions and some structure behind it. And we figured that out through multiple months of, of one-on-one inter interactions and coaching, we've actually been able to build a really great foundation for this individual where they're able to, not only are they paying all their bills on time, they have more money than they had before. They're able to do the things that they want to do, and they are starting to pay back some of those old debts that they had, let build up and improve their credit. Everything is working in the right direction just by changing a little bit about how they viewed their money, their mindset around it, their mindset when they got paid, and then taking some small actions and making those happen week in and week out to make sure that they were making the right moves to put themselves in that situation. And that's a great example of how sometimes these mindsets can lead to behavioral execution. Obstacles could be procrastination or inconsistency or when they see more often than not is lack of planning and then small sabotages that happen. And building a budget is a great example of that. Many people who are living paycheck to paycheck are scared to build a budget because they're scared when they write it all down. What that's going to. Say and what that's going to look like. And then they have that belief that it's not gonna matter what my budget is. I don't, there's not enough money to make all of it happen. When really when you start looking at this and you start looking at maybe what you're spending on going out to eat or maybe what you're spending on entertainment or clothing, some of these things that we've talked about in the past, these wants all of a sudden, if you can. N navigate. Some of those really put some structure and some guardrails around what you want to do. You can absolutely make your financial life much more manageable and start to break yourself outta that paycheck to paycheck cycle. What I'd ask you is, which do you think is holding you back? Is it your mindset? Do you have some of these limiting beliefs or maybe some that we haven't even talked about? Or is it the actions? And so if you are someone who's finding that you have some of these limiting beliefs, the first thing to do is be aware of them. What limiting beliefs do you have about money? Is it that there's never enough? Is it that you're not good with money? Is it that you're worried that you will mess something up and put yourself in the worst position? What are those beliefs once you have. Built awareness around what it is. You can actually then start to reframe it and say, oh, it's not that I don't have enough money, it's that I haven't made a good plan to be able to use all the money that I have. Or if you are worried that you are going to make a poor decision, you can say, you know, it's not that I'm not good with money or will make a bad decision. Instead, I haven't learned enough about money, so I'm gonna invest in time, effort, and energy into learning about how to. Be better with my money. You start to reframe that narrative in your mind, and then that leads to the next step. Your micro action. What thing can you do that will help you move one step forward? So for somebody who says that they just never have enough or there's never enough, the first thing I would recommend. is build a budget, and so you build that budget and you can see exactly where your money is going. Now you can say, okay, well I feel like there's never enough, but I am spending on some of these categories that maybe I don't need to, or maybe I can spend less in these areas that will help me get to my goals and stop living this paycheck to paycheck cycle. If it's something where you're worried you're going to make a mistake with your money. Maybe you invest in a couple of books, or you're listening to this podcast or other podcasts or other informational things that you can find online or in your library or wherever it might be, and you start to learn and you say, you know what? I'm gonna read this book, or I'm gonna listen to these episodes about this and learn more and start to structure my. And again, those micro actions allow you to take a small step, but it also probably will uncover the next step for you. Once you build a budget, as an example. That next step is analyzing it and really evaluating when your income and your expenses are. Are there areas in your expenses you can cut? Or sometimes people are like, actually, I could improve my income if I did this, this, or that. So it allows you to see or uncover that next. Step in the process of where you're trying to go. The same thing with, you know, the example that we're using for, uh, going out and building your knowledge or your information. Once you build a little information, again, that is the whole intent is to uncover what is the next step I need to make beyond that, that is going to prove my situation. So that framework is really, really powerful when you start to use it in the appropriate way. so again, just to recap, really, it's about thinking about what your mindset is and if you have limiting beliefs, identifying those. The next step is reframing those into something that will help you, do one next small step. And then once you're doing that, it's the execution of doing that micro action that will help you uncover the steps after that. It is a short video today, but this is really, really powerful stuff, and adjusting your mindset and helping yourself move and reframe that to a one or two small actions can really make all the difference on setting you on a really strong and successful path to your financial stability and your wealth in the future. If this was helpful, please subscribe to us on YouTube or listen to us on the podcast player of Your choice. Leave us reviews. the more reviews you leave us, the higher we go up in the rankings, which means the more people see us and the more people we can help. And the same thing if you subscribe to our YouTube channel and share that out across your networks. If something struck a chord with you, please share it with friends and family. Our goal is just to help people. Be more stable in their financial lives and build their wealth long term. Thanks for joining today. Can't wait to see you next time. My name's Jim. Bye everybody.