Having a healthy relationship with money

Your Relationship with Money: 11 Ways To Make It Healthy | HuffPost

having a healthy relationship with money

You can't enjoy a good relationship with money unless you're willing Even if you don't have time or your hands our full, you still pay attention. If you're constantly worried about not having enough money or if afford to go, you might have an unhealthy relationship with money. On the other hand, "a person who views money positively - that it's good, valuable, and. So many people don't even realize that they have any relationship with money. In fact, for most folks the word money and the word relationship.

Even though I used my savings to pay for graduate school, I started a side hustle that nearly tripled my income.

How To Have A Healthy Relationship With Money

This allowed me to rebuild my savings in less than a year and continue to create spending priorities which aligned with my goals. This helped me to build a healthy relationship with my finances. Create a schedule that priorities activities that generate income and bring you joy. Focus on the big wins, because at the end of the day you can only save so much money, but there is no limit to how much you can earn.

Wealth is a mindset If you want to be rich, you need to develop the right mindset.

having a healthy relationship with money

Rarely will any millionaire tell you that their wealth came from a single job or investment. Most of these millionaires created their wealth themselves. They took responsibility of their money. The first step in developing the right money mindset to grow your personal wealth is to get clear on what you need the money for, which we discussed in point 1.

The second step is to get rid of your limiting beliefs about moneywhich are currently holding you back from getting what you want your end goal.

10 signs you have an unhealthy relationship with money

This will allow you to build a healthy relationship with money so you can use it as a tool to achieve your end goal. When it comes to personal finance though, the way we choose to manage our money IS personal.

having a healthy relationship with money

For example, I can be quite frugal for some things. On the other hand, I like to save a portion of my income so I can go to concerts, travel, and invest my money.

But I have fond memories of our annual family vacations together. As my income increased, my spending habits remained the same. I still live frugally so I can save money for the things that are important to me. Save your money to invest!

10 signs you have an unhealthy relationship with money

Investing your money is really the key to growing your personal wealth. There are several ways you can invest your money, including: Control your emotions How do you feel about money? Do you feel shame, fear, or anger? According to one of my favorite personal finance authors, Suze Ormanthese are the most common feelings surrounding money.

These positive feelings will also encourage us to educate ourselves about money so we can increase our income and be smart with how we manage our money. Removing these negative feelings about money can help us overcome our money blocks so we can change our financial situation and develop a healthier relationship with money. If I had a bad day, I would seek retail therapy to make me feel temporarily better.

having a healthy relationship with money

If I accomplished something such as getting a pay raiseI would treat myself to something nice. It was getting ridiculous! My emotions were driving my financial decisions. Now of course, there may be moments when you need to take a loan. But savings exist so those days are few and far between! Trust me, your future self will save you. Taking out a loan on a house is nearly impossible without good credit. Think about your life like your business. Would you spend business credit on meaningless expenses?

Of course not, your business would go bankrupt! I still use it occasionally to build up credit, but in general I try to keep away from that stuff.

How To Have A Healthy Relationship With Money - A Mess Free Life

I recommend you do the same. Second, I would recommend allowing yourself a smaller amount of cash to spend per outing.

Of course you may find yourself needing a debit card for emergencies, but as a rule for yourself, try to only spend a small amount of cash. Rules like this can save you a lot of trouble that we naturally get into with wanting things and tendencies toward excess, as well as build up your credit for a better future.

But you need to understand, this will ultimately help you in the long run.

having a healthy relationship with money

How do you make something new into a long-term thing? However, you can do the same thing you did with your poor spending choices — you can make your good spending choices into habits. To create a habit around something, you have to change your mindset around it.

Practice changing your mindset around money by catering your words and conversations about it in a more responsible fashion.