By Joanna G. Burish
Have you ever thought about this question: Do you know what your relationship with money is? Do your finances make you happy or sad? Do they control or scare you, or cause you to feel shame or a lack of self-worth? Do you avoid the realities of your finances and financial planning, or does your money empower you and make you feel like you can do anything? Would you like to know how to empower your financial future?
One of the best ways to learn about your relationship with money is to understand how your beliefs about money were formed and how those views influence your thoughts, feelings and behavior toward it. Why do you do what you do when it comes to money? As we watched our parents handle their finances, we all developed impressions of the power of money. Was it typically the person who made the money who had the power? Were they kind and generous with that power, or was it used negatively? All of these stories were internalized and influenced your ideas about money as you got older. Do you like this version of your relationship with money or not?
You have a choice to change your money story. You have an opportunity to look for the limits in your relationship with money, and the more you free yourself from your past limitations about money, the more you’ll free yourself to receive abundance and an additional source of freedom, joy and self-love. That is a pretty awesome relationship to be in!
FIVE TOOLS TO EMPOWER YOUR RELATIONSHIP WITH MONEY
- Understand your money profile. Learning about your financial style can help your approach to financial power and planning, and creating a plan and sticking to it. Behavioral finance studies show that 70% of people who were advised on a financial plan from a financial advisor did not follow it. That’s because the plan didn’t match their profile. Let’s get you in the 30% of those succeeding in their financial freedom and loving it!
- Work with a holistic financial planner. Your planner will get to know you, your core values and your money profile — and develop a plan made specifically for you!
- Work with a money or confidence coach. My good friend Karla Angel coaches about building confidence. A money coach can help you get to the core of what is holding you back from having your best relationship with your finances.
- Listen to podcasts and read books that empower your knowledge about money and creating true wealth. True financial planning is holistic, which includes in your heart and your overall mindset. These resources will deepen your financial knowledge, which in turn will help you stick to a financial plan. If you don’t take all of this into account, your best-laid plans most likely won’t last.
- Be honest about what your true money mindset is. Your money mindset shapes the way you feel about how you relate to abundance versus scarcity, debt, shame and your ego. It influences your self-worth, your ability to make financial choices with confidence, how generous you are and more. Debra Sunderland Coaching helps you become aware of your limitations and how to recreate the limiting stories we tell ourselves to approaching solutions from an empowered frame.
So, let’s reset your money mantra and get you to reset your relationship with money again! If you’d like to find out what your money mindset is, or would like resources to work with a confidence or money coach, please reach out to me and my team. We are happy to help!
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) (life and disability insurance, annuities and life insurance with long-term care benefits) and its subsidiaries. Joanna Burish is an Insurance Agent of NM. There may be instances when this agent represents companies in addition to NM or its subsidiaries.
While links to other websites are provided for convenience and information, please be advised that except for information related to Northwestern Mutual (NM), the inclusion of, or linking to, other websites does not imply NM endorsement of, nor responsibility for, those websites.