These 3 money beliefs could be stopping you from earning more

Money expert says these 3 money beliefs could be holding you back from earning more

Self-made millionaire says these 3 beliefs could be stopping you from boosting your income

Self-made millionaire: Ditch these 3 money beliefs to boost your income—’Most people never even get started’

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Many Americans want to be making more money.

Nearly half of Americans say it would take an income of at least $100,000 to feel secure, according to a Bankrate survey from June 2025. But when the median household income is about $84,000, per the latest Census Bureau estimates, it will take a significant pay bump for many Americans to reach that threshold.

There are some steps you can take to earn more. You can ask for a raise at your current job or explore other, higher-paying opportunities. You can also start a side-hustle like freelancing or renting out a spare room, depending on what resources you have available to you.

But regardless of the path you choose, you have to get started. And “most people never even get started,” self-made millionaire, author and money expert Ramit Sethi wrote in a recent newsletter.

“Not because they’re lazy or because they’re not smart enough. And definitely not because they don’t want more,” he wrote. “Most people don’t start because of a few quiet beliefs running in the background.”

These three money beliefs could be standing in the way of you making more money, Sethi said.

Good money management, including finding ways to supplement your income if you’re not making enough, is a skill that nobody is born with, Sethi said. Yet, many folks still feel ashamed when they don’t know the next step they should take to boost their income or accomplish some other money goal.

“If you’re good at your job, if you’ve always been praised for being smart or capable, it can feel embarrassing to admit you don’t know how to make more money outside of a paycheck,” he wrote.

The truth is, you may need to ask for help, get some additional training or teach yourself through books or online resources in order to reach your goal. Negotiating your salary, for example, is a skill that certainly isn’t innate, but can help you level up your income significantly if you learn the strategies that career experts and other successful negotiators recommend.

Even if you have the skills and talent that make it seem like success will come easy, you’ll probably need a bit of patience and sustained action, Sethi wrote.

Our culture that celebrates “viral success stories” and “overnight millionaires” makes it even easier to fall into the trap of believing your journey should be easy, “But that’s not how lasting success is built,” he wrote.

Growing your income, especially if that involves adding a second income stream “takes more than talent. It takes systems. It takes patience. It takes smart, repeated action,” Sethi wrote.

You may have to try a few different side hustles before you find the one that’s lucrative and enjoyable to you. Building your own business may take some trial and error to figure out how to best market yourself or your product. You may even have to invest a decent amount of money in order to get the returns you’re looking for. But all of these plans take time and concerted effort.

“Once you let go of the fantasy that it should be easy, you can finally start doing what actually works,” Sethi added. “And you’ll be amazed at how fast things move once you stop waiting for it to feel effortless.”

Sometimes life gets in the way of you making progress toward your goals. You finally see progress on your savings journey then get hit with a necessary car repair or medical bill. You’re finally ready to buy a house but mortgage rates tick up and suddenly it’s unaffordable. 

These roadblocks may be out of your control — and highlight the importance of prioritizing a well-funded emergency savings account — but others aren’t. Telling yourself you’ll start that business or start investing “once work slows down” or “when the kids are out of the house” or “in the new year,” can actually be a non-starter, Sethi says. 

Putting off your goals until “‘Later’ is how entire decades disappear,” he wrote.

This belief can trick you into thinking you’re making progress because you’re not saying “never,” you’re just saying “not now.” And that procrastination can end up killing your dreams.

“The timing will never be perfect. Life won’t get magically simpler. The calendar won’t suddenly free up three months for you to get your act together,” Sethi wrote. 

You need to take action. And that doesn’t mean trying to build a six-figure business in a day, but it does mean making a plan, breaking it down into manageable steps then working through them over time.

“At some point, you stop ‘waiting for the right time’ and admit: you’re either going to do this or you’re not,” Sethi said.

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