Is your Relationship with Money Healthy?July 2, 2020
Talking about money is often a difficult conversation – it can be a very sensitive topic. We are all aware that we need money to support our basic needs – to provide shelter, food and warmth, amongst other things. Without it, it can cause a lot of anxiety and stress. However, have you ever stopped to think that your relationship with money is not about money at all?
The way that we feel and behave around money is often a reflection of how we feel and act around ourselves. If we are battling underlying issues with unworthiness or feeling as though we’re not good enough, it isn’t surprising that our money habits may start to reflect this. This blog talks about the money mindsets – Powerful Beliefs About Money.
Understanding Your Own Money Usage
The first step is to stop and think about your relationship with money. Try imagining money is your romantic partner. How do you feel about your relationship? Is it loving, or is it abusive? Is it equal? You may find that you have a repetitive pattern of behaviour with money – make note of this.
Writing down the thoughts that crop up is a good way of seeing it all on paper. Which of these thoughts arise in your head the most often? Why do you think they arise? Reflect on the beliefs that are hidden beneath those stories and how they influence the money decisions you make.
One person might feel guilty when they spend money. Does this stem from their fear of running out of money? Or, perhaps, another person might associate having money as not being a good person or feels they are unworthy of that money, so they spend it all the time. What is your relationship with money telling you about yourself as a person, and what areas you might need to work on?
Overcoming Your “Money Stories”
It is important to remember that the stories you tell yourself in your head about money are often thought-generated – they are not factual, and they are not real. With some consistent work, they can be overcome.
If you have those thoughts of believing “I am bad with money”, it is perhaps exacerbating your ability to be bad with money. Try reframing it to “I’m good with money” and meet this expectation by adding small, daily actions to your life. You may want to start a new business or retrain as a coach, don’t let your money blocks stop you. You can read more about setting up a business in my blog – Starting a Business.
Here are a few ideas to improve your relationship with money:
- Check your bank account every morning – let yourself feel gratitude towards what you have and the money that you deserve
- Start tracking your money – this is a good way to stay on top of what you’re spending and earning, and it may even get you to question what your priorities are and what is worth changing or keeping the same
Using these tips, you can claim back ownership and control over your money, but also your mind’s view on money. By changing your thought process, you can change your habits.
To learn more about how neuroscience, positive psychology and coaching skills can help you change your habits and money mindset, join my free group – The Coaching Community.