Do you know that you have an existing relationship with Money?
For most people, their relationship consists of constantly lacking money and chasing it, like running with bucket full of cash that gets drained every fortnight. They work hard for money.
For the wealthy, money is a tool to create more freedom in their life. It works hard for them.
How do you build a healthy relationship with Money? Here are seven ways to do it:
Pay Attention To It. There’s a saying that goes, “Where your attention goes, your energy flows and your results show.” If you’re not paying attention to your Money, you don’t know where it goes and you can’t make informed financial decisions. Being in this ‘financial limbo’ can cost you your future.
Action: Track your personal expenses.
Give It Importance. Your relationship with Money is very important because it is a tool that can help you secure your future and live a financially and time-free life. It can work hard for you, but you have to know how to drive it well.
Action: Work on your financial education. Come up with ways that you can make money without trading your time (freedom business).
Be Grateful. Whether it’s a small amount or a large sum of money that comes into your pocket, be grateful. When you are grateful even for the little things, it attracts abundance in your life.
Action: Take time to celebrate your ‘wins’ and express your gratitude.
Forgive The Bad & Learn The Lesson. Like other relationships, your relationship with Money will have its highs and lows. Maybe it’s a lower return on your investment, or you find yourself losing money. Forgive the bad, learn the lesson and move on. Don’t dwell in the negativity of the situation.
Action: Take your mind off the negative. Do what keeps you relaxed and happy. Once you can look at the situation without the emotions, write down the lessons.
Don’t Blame It For Your Bad Mood. Money is not the reason you are in a bad mood or having a bad day. It is your response to the situation that causes your negative emotions. It can be fear, anger or pain. When you start feeling negative towards money, step back and think where this perception and emotions came from. Oftentimes, it’s an indicator of things that you have to resolve within yourself.
Action: Invest in your personal development. Surround yourself with people who are where you want to be.
Be Clear On The Difference Between Want and Need. Every single day, from the moment you wake up to the moment you sleep, you are being immersed into a culture of consumerism. Just scroll at your news feed and within the first couple of minutes, you will be sold 10 different products. Knowing what you NEED from what you WANT is very important to counter this strong pressure. It’s difficult but you’ll get used to it.
Action: Have a list of all your needs, create a budget for them and stick to your budget.
Have A Long-Term Vision. What do you want to see in your relationship with Money 10 or maybe 20 years from now? What’s your long-term vision? Are you going to be working and saving? Are you going to invest or start your business?
When you have a long-term vision, it acts as a guide for the financial decisions that you’re making today. It also helps you steer away from ‘unnecessary spending’ that hurts your relationship with Money.
Action: Create your Personal Plan. Write it down and be clear on what you need to do to achieve your goals.
If you have an unhealthy relationship with Money and you haven’t made the decision to change things for the better, you’re putting off opportunities and it can cost you your future financial freedom.
Change is uncomfortable but if you are determined to achieve your goals, you are unstoppable.