Developing a Healthy Relationship with Money: Transform Your Finances
When you think about your laptop or computer, do you perceive it as something good or something bad?
And what are your thoughts and emotions when it comes to money? It is a different scenario, isn’t it? Very few people would have neutral feelings and thoughts about money.
Both money and laptop are tools, each serving a specific purpose. How we perceive that tool and how we use it is entirely within our control.
Our attitude towards money is molded by our beliefs and values, which are formed based on the messages we received growing up, life experiences, and inner blocks.
We have the choice to think about money as the root of all evil or as a wellspring of abundance.
Our relationship with money is also shaped by our experiences. If we grew up in a family where money was scarce, we may have learned to be afraid of it or to feel guilty about spending it on “unnecessary” things. On the other hand, if our experience growing up was that of abundance, it is more likely that we will continue that path as adults.
We can all learn to have a healthier relationship with money regardless of our beliefs and experience up to this point.
How can I start transforming my relationship with money?
Here are five principles to bear in mind, each with its own unique execution approach. For instance, some people find it more convenient to monitor their expenses using an app, others a physical notebook.
Examine your beliefs and values about money. What convictions do you hold about money, and what values underlie your financial perspectives? Once you identify these, you can begin to question and challenge them if necessary. Write down the messages you remember hearing growing up about money such as “money doesn’t grow on trees”, “I don’t have money for that”, “there is never money in this house”, “those people are bad, they have money…”
Track your spending. Monitoring your spending patterns enables you to see where your money is going and where you can cut back. This process also highlights any disparities between your life values and your expenditure choices. For instance, if supporting charitable causes aligns with your values, but you are donating zero dollars (pesos, euros, etc.), there is misalignment between your values and how you use your money.
Pay off your debt. Debt can be a major source of stress. If you have debt, make a plan to pay it off as quickly as possible. There is also an energy associated with honoring your commitments. As you do so, your energy field shifts, and you start attracting abundance.
Invest for the future. Investing your money is a fantastic way to grow your wealth over time. Moreover, knowing that your financial future is secure—whether for retirement or unforeseen circumstances—relieves stress and shifts your energy field to attract abundance.
Give back. One of the best ways to feel good about money is to use it to help others. Identify a cause close to your heart and donate money and/or time to it. Money is also an energy and when we let it flow to benefit others and ourselves, it multiplies and grows.
One more thing before you go
Money serves as a tool for exchanging products and services. We decide how to use it and what to think of it. Our beliefs and values greatly influence our perspective on money. Bringing awareness to them is the starting point to shifting our perspective.
We have the power to transform our relationship with money and create abundance. We choose which mindset to adopt at all times: abundance or scarcity.
There are many different ways to have a healthy relationship with money. Some people find tracking their expenses and creating a budget helpful. Others realize that it is more beneficial to focus on their values and goals. Each person is unique and is at a different stage in their journey to improve their relationship with money.
The most important thing is to find what works for you and to be consistent with it. There are thousands of resources on the Internet and a similar number of books. An excellent starting point that I found is the book The 9 Steps to Financial Freedom by Suze Orman.
Also, remember that your relationship with money is constantly evolving. What works for you now may not work for you in the future. Be prepared to adjust your plan as needed and to be patient with yourself.
Having a healthy relationship with money is not always easy, but it is worth it.
A sound relationship with money significantly heightens the likelihood of financial security and peace of mind. An alignment manifests between your financial actions and your core values and aspirations. This congruence amplifies overall life satisfaction, happiness, and well-being.
How is your relationship with money at the moment? Please, let us know in the comments.
As a leadership coach, I enable talent to achieve bold goals with high standards. My mission is to empower underrepresented women in the financial industry transition from mid to senior level leadership positions using mental fitness to achieve peak performance, peace of mind, and healthier relationships.