April 16, 2021

Natallia Smith
(TruWealth Advice)

Your relationship with money has a huge impact on your overall wellbeing

Constantly worried about her financial situation, 54-year-old Penny believed bad luck had cursed her. She felt unsuccessful, disappointed and exhausted as she struggled to manage her debt and keep on top of her living expenses. Existing pay-to-pay, with nothing left over for the fun things in life, Penny also hated her job. She was trapped and unhappy, with no relief in sight.

Luckily, she reached out for help.

Understand your relationship with money

Exploring her relationship with money during our Clarity Session, Penny explained that she grew up in a rather traditional household. Her dad was the primary breadwinner; her mum never worked outside of the home, and her family expected her to find a husband, have children and follow in her mother’s footsteps. With education low on the list of priorities, Penny was never encouraged to do well in her studies.

Leaving school at a young age, she struggled to find a well-paid job. Her life took a path different from the one planned for her; marriage and motherhood didn’t eventuate, and she made some bad financial decisions. Stressed and angry, Penny felt that she was a disappointment to her family and, more importantly, herself.

Change your Money Mindset

I worked with Penny to change her mindset, conditioning and ongoing relationship with money. Realising the negative connection that existed between her financial situation and overall wellbeing gave her the power to change it.

Through ‘transferring’ her struggles to someone who could help her, Penny realised that it was possible to gain control of her finances and, in turn, live a better life.

5 Exercises to Improve your Relationship with Money

Visualisation

Close your eyes and imagine you will wake up in the morning and live your ideal life.

• What does it look like?

• Who are you with?

• Where do you live?

The more details you imagine, the better. Practice this daily.

Change your language

Speak positively to, and about, yourself. Use phrases like ‘I’m successful,’ ‘I’m doing well’, and ‘I deserve a great life’. Make the conscious decision to use these, and your confidence and optimism will quickly grow.

Practice gratitude

At the end of every day, write down three things you are grateful for. Look at what you achieve each day and say out loud, ‘I’m thankful for …. (being healthy, etc.)’. Journal your thoughts and look back on them at the end of every week to see your understanding grow.

Positive affirmations

Write a positive mantra such as ‘I will be financially secure’ on a post-it note and stick it around your house – on your mirror, at your desk, next to your bed etc. When you spot the message, repeat the affirmation. Pop it in places where it will be an ongoing reminder of the work you are doing to change your mindset. You can alter these affirmations to suit what is happening in your world.

Change your habits

Practice being the ‘new you’ every day. Change your routines and behaviours to continually focus on being positive. Remember, it takes 30 days to change a habit, so keep trying even when it’s difficult.

These exercises will help you develop a new relationship with money. Over time, your perspective will change, and it will no longer feel like a daily battle of what you ‘should’ and ‘shouldn’t’ do.

Understanding how you view money and what it means to you is the first step to improving your connection and creating a sense of control in your financial world.

Take this simple step to ‘uncondition’ your relationship to money and begin to live your best life. Contact us to find out more.