5 Habits to Remove Money Blocks and Upgrade Your Money Mindset in 2025 with Karen Eley on Get Rich

By Molly Benjamin, Founder of Ladies Finance Club

Listen to the full podcast here.

If you’ve ever felt stuck with your money goals, unsure why you can’t save, or constantly self-sabotaging your budget,  it might not be your spending habits holding you back, but your mindset. In this episode of Get Rich, Molly Benjamin chats to Karen Eley, a financial adviser turned money coach, to uncover the five most common money blocks and how to break through them for good.

Karen has worked with hundreds of women across Australia, helping them identify and release the emotional and psychological barriers that quietly shape how we earn, spend and save. If you're ready for financial empowerment in 2025, this episode is your wake-up call.

What Are Money Blocks?

Money blocks are subconscious beliefs, emotional patterns or mental scripts that limit our ability to confidently manage money. You might consciously want to grow your wealth or invest more, but deep down something’s holding you back, and that’s your money block.

Karen explains that these blocks often come from childhood experiences and are stored in our subconscious. They can be sneaky and hard to detect, but once you shine a light on them, you can start to shift your financial mindset.

1. The Scarcity Mindset: “There’s Never Enough”

The most common money block Karen sees is a scarcity mindset, the belief that there’s never enough money, no matter how much you earn. This can show up as living pay to pay, constant stress about spending, or feeling like financial security is always out of reach.

Interestingly, Karen says this block shows up even in women earning six-figure salaries with savings and assets. So it’s not always about how much you have, but how safe you feel with what you have.

The first step to shifting this mindset? Awareness. Pay attention to the emotions you associate with money and try replacing fear or anxiety with gratitude, even if it's just for one minute a day. Over time, this starts to rewire your emotional relationship with money.

2. Self-Worth and Undervaluing Yourself

Another powerful block is low self-worth. This shows up when women struggle to ask for a pay rise, feel uncomfortable pricing their services, or avoid charging what they’re truly worth.

To work through this, Karen recommends reflecting on where that belief came from. Was there a time in your childhood when you felt “not good enough”? Then, actively look for evidence of your value – ask colleagues or friends what they admire about you. Let that positive feedback shift the internal narrative.

3. Avoidance and Procrastination Around Money

Avoidance is another big one, and one most of us have experienced. Whether it’s ignoring super statements, putting off budgeting, or delaying starting an investment account, this emotional barrier keeps many women stuck.

Karen says avoidance is usually a symptom of deeper fears, fear of failure, fear of success, or fear of judgment. To overcome it, ask yourself: “If I achieve this money goal, what am I scared will happen?” Then gently work through those emotions, instead of burying them.

And if you’ve avoided your finances in the past? Forgive yourself. Write a letter of forgiveness, or a letter to money itself. Let go of shame and start fresh.

4. “I’ve Left It Too Late” – The Guilt and Comparison Trap

Many women, especially those starting later in life, carry guilt about not taking control of their finances sooner. But Karen is clear: it’s never too late. What matters is that you start now.

Writing a letter of forgiveness to yourself can help release this emotional block and create a sense of self-compassion. Remember, we all begin from different starting lines – your progress is still progress.

5. “I’m Just Bad with Money” – Changing the Narrative

Finally, one of the most common money blocks is simply believing “I’m bad with money.” This self-talk becomes a self-fulfilling prophecy, fuelling further avoidance or poor money management.

Karen suggests replacing that phrase with something more compassionate and growth-oriented, like “I’m learning to be better with money.” It may feel silly at first, but over time this change in language rewires your brain and reshapes your identity around money.

Rewriting Your Money Story

Changing your financial mindset isn’t about spreadsheets, it’s about emotions, habits and narratives. And the good news? It’s never too late to rewrite your story.

Karen and Molly also created a course together designed to help women work through these exact blocks. The program mirrors the process Karen uses in her one-on-one financial coaching sessions but in a more accessible self-paced format. From understanding your money story to identifying your emotional patterns, this course is all about creating a positive money narrative that empowers you.

If you’re ready to shift your mindset, build wealth and feel good about money, this is your sign.

Money is neutral, it’s our emotions and beliefs that give it meaning. If those beliefs are keeping you stuck, it’s time to do the inner work. Whether you’re dealing with scarcity, undervaluing yourself, avoidance, guilt or negative self-talk, know that change is possible. Your relationship with money can improve and with it, your financial future.

Listen to the full episode now to dive deeper into each of the five money blocks and hear Karen’s practical strategies for transformation.

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