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Steps to Transform Your Relationship with Money
There are so many factors that impact your relationship with money. Culture, religion, gender, family, childhood upbringing, and education all play an important role in how you relate to money.
Identify your current relationship with money
If you aren’t sure, it is always recommended to take note of your thoughts and feelings when interacting with money or financial tasks. Thoughts you get, seeing your paycheck hit your bank account, handing your credit card over when you get your car repaired, or hearing a story of the stock market. Knowing where you are now can help with where you want to be.
Identify your version of a healthy relationship with money.
Most people say they want a relationship with money that feels easy, that makes them feel confident and calm. Everyone can decide how a healthy relationship with money looks.
List out your unhealthy financial thoughts or practices.
Are you a Blissfully Ignorant money archetype? If so, you might lean toward avoiding looking at bank statements or waiting until April 14th to file your taxes. Do you experience thoughts of money shame? Things like “I didn’t donate enough to charity,” or “I should have asked for a raise?”
Decide what healthy financial thoughts or practices you want to adopt.
You have to decide, what you should or shouldn’t do with your money. You are the expert on what you want your relationship with money to look like. Here are a couple of questions to get you started. Does looking at your bank account weekly feel like a healthy financial habit? What about starting your day with a mantra like, “I’m confident enough to understand money.”?
Create a roadmap to implement changes.
Reverse engineer your way from where you are currently (in an unhealthy financial relationship) to where you want to be. Create small, manageable steps to get there, and practice at a cadence that works for you, be it daily, weekly, or monthly.
Think about your relationship to those other items–food, exercise, or work–and it helps to think about what your relationship with money is like. How do you feel about money? What emotions come up for you when the topic of money comes up? Do you have a pattern of
recurring thoughts that arise when you interact with money? All of these things inform our relationship with money.
Important links –
1.https://www.mindmoneybalance.com/blogandvideos/transforming-relationship-with-money
3.https://www.businessinsider.com/12-negative-thoughts-about-money-2014-4?IR=T
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