The Importance of Having a Healthy Emotional Relationship with Your Money

Over the last few years I have seen so many people working diligently to improve their financial health. We’re more focused on saving, our spending habits, budgeting and improving our credit scores and it’s exciting to see!

It’s also very important to build a good emotional relationship with your money. We are all carrying a certain amount of trauma and past experiences that can have an impact on our financial decision making. If we are carrying guilt and shame in addition to that, it can lead to financial decisions made from an emotional standpoint instead of a logical one.

I think it’s very important to be intentional about highlighting the good decisions we make about money instead of always highlighting our mistakes. I’ve created a list that I think helps keep focus on ways that we can create a more forgiving and emotionally gentle way to think of our financial choices and I would like to share it with you.

1. Recognize the your “Worth” is not connected to your “Wallet”
2. Material objects can never fill gaps in the heart, soul or spirit.
3. Our children will love us regardless of how much money we spend on them.
4. Identify your value system - The money generally follows it even when we’re not paying attention.
5. What you teach your children is more valuable than what you buy them.
6. Forgive yourself for your financial mistakes.
7. Your closest friends and family can be financial saboteurs. Identify your financial allies.
8. Be intentional about seeking financial education. Read, listen and engage with people who are on a similar financial journey. IRON SHARPENS IRON!
9. Keep your eyes on your own paper. Don’t compare your goals with the goals of others.
10. Celebrate your wins! Large or small accomplishments are so important for your confidence. It’s easy to point out what we’ve done wrong but equally important to celebrate what we’re doing right.