Money is a highly emotive subject and we all have a relationship with it, just like we would a romantic partner. To improve our relationship with money it’s about much more than just making more of it. In this blog we’ll share three ways to reframe your thinking around money.
So how can we improve our relationship with money?
1. Quality Time
To improve your relationship with your partner, you would want to spend quality time together and view that person as adding value to your life instead of something to be scared of or anxious about.
Thinking about our relationship with money, one way to improve it is to spend quality time with your money and view money as a tool that can help you live the life you want (instead of something to be ashamed or scared of).
2. Figure out how you view money
The stories we tell ourselves about money have a direct impact on how we make it, save it, and spend it. For example, if you tell yourself that wanting money makes you greedy or selfish, you are denying yourself of having positive experiences with having money and what it can do for your life. Or if you tell yourself that money is hard to make or come by, then this scarcity mindset stops you from spotting opportunities to earn, grow, and enjoy your money.
One exercise to help you change the way you view money is to practically think about how money can be a positive and useful resource for life.
3. Think about impact over just money
Money can add value to your life, but not because of the money itself. It is more about what that money can do for you!
Write a dream list of all the things you would do if you had a dream amount of money in the bank… and this doesn’t have to be an extensive list of materialistic things you would simply buy. But instead, think about the greater impact this money could have on your life (and the life of others):
- Would you set up a charity and be able to help people in need?
- Would you shop more locally and support independent businesses?
- Would you build a business that allows you to hire people and give others a job?
- Would it help you worry less about paying your bills, and help improve your mental health?
These are just a handful of examples of how having more money can have a positive impact when utilised in the right way. It can help you do more good in the world! Get creative with your list and get excited about what having more money could do for you.
When people have goals to just ‘make more money’ and they get caught up in the rat race of increasing their income, they can be left feeling deflated and unfulfilled because the focus is on the money itself as the end goal instead of the purpose of that money.
Reframing the reason why you desire money and actually owning that desire is going to massively improve your relationship with money.