Updated: Aug 21
In the world of personal finance, our thoughts and beliefs hold the key to unlocking new opportunities that can significantly impact our financial independence. However, our daily experiences constantly inform and shape our thoughts and feelings about money. Sometimes in unexpected ways, we don’t even realize.
Money may not buy us happiness, but having it is one of the best ways to eliminate the things that strip us of positive energy. Things like unexpected bills, debt, poor investments, or loss of income make it difficult to maintain a positive outlook.
In the face of financial hardship, the most challenging and powerful first step towards financial prosperity lies in our ability to overcome negative emotions and thoughts. The truth is, understanding the fundamentals of good financial habits is simple; putting them into practice is tough.
The quicker we shift our thinking and embrace an abundance mindset, the sooner we begin progressing toward positive money manifestation. This article provides several practical insights to help you gain a new perspective and deeper understanding of your financial quirks. It’s not about being perfect, but always staying on the positive side of money matters.
How Much Money is Enough Money
Social media can be very deceiving and give us an overinflated impression of success. It’s easy to look like you have a lot of money in short reels and images. But remember, these are curated highlights of the image someone wants you to see rather than the reality of knowing what their daily life looks like.
The important thing is to maintain a positive outlook and focus on the aspects of your finances that you control. Many people find inspiration and motivation in their envy of ‘successful’ and celebrity figures on social media.
But if you feel less motivated by social media personalities flaunting their wealth, that's ok. Some of the best ways to alleviate these negative feelings is to focus on the aspects of your finances you can control and your personal money goals.
It’s not always about how much money you have but how you use it in fulfilling ways.
To figure out how to use our wealth more effectively and maintain a positive attitude toward our finances, we need to gain a deeper understanding of our money situation as a whole.
Evaluating Your Financial Situation
Navigating the ever-evolving landscape of personal finances is a journey that continually empowers us to shape our financial future. This expedition is not just about numbers on a balance sheet; it's about reclaiming authority over our financial narratives. Before setting out on this path of empowerment, it's crucial to take a deliberate pause and evaluate our financial situation.
First, begin by analyzing your recurring money trends – those that evoke a sense of fulfillment and those that trigger stress or anxiety. Look closely at your spending habits, savings patterns, and investment choices. Scrutinize not only the figures but also the emotions tied to each financial decision.
Are there expenditures that consistently ignite joy and align with your long-term goals? Conversely, identify those that weigh you down, fill you with buyer's remorse, and hinder your progress toward financial confidence.
By shedding light on these trends, you broaden the landscape to design a financial roadmap that resonates with your aspirations and values, ultimately crafting a future that embraces abundance and dispels undue worries.
Below are a few prompts to help you start pulling back the weeds and get a clear picture of your financial situation. Without moving from your current seat, look at the space around you.
How many of the items would you rather have the money you spent on them or keep? Look at everything, from the coaster on the table nearby to the rent or mortgage you pay for your space. Can you remember your state of mind when you made these purchases?
This exercise is not meant to fill you with regret or disappointment but rather to help you understand how you asses value and your likes and dislikes more clearly.
It may be helpful to write down your thoughts or keep a digital note to reflect on and notice how your preferences may evolve over time.
Next, take a look at your purse or wallet. How do you prefer to spend your money? Is your wallet jammed with multiple credit cards? Do you know the purpose of each and their balance? Are you a cash person? Do you have digital payment options in addition to your cards and cash?
By addressing how many payment options we allow ourselves, we can more easily evaluate our spending habits. Things like memberships or subscriptions are really easy to overlook when you’re managing multiple payment methods.
Last, but not least, take a look at your bank account structure. Though I am a big fan of having multiple bank accounts, checking for short-term savings & spending, savings for emergencies, and a high-yield savings account for long-term nest egg savings, this may only work for some. The last thing you want is falling victim to banking fees for overdrafts for dipping below balance thresholds.
In your finance journal, note your answers to the following questions. How many accounts do you have? How much money do you have in each? Does each account have a purpose or bring you additional benefits? Is your bank providing you with the conveniences you need most, like ATMs, easy online banking, or digital payment options?
Financial Goals Vs. Money Goals
Financial goals focus on the whole long-term picture, your savings, investments, and expenses. Where money goals take a more present and emotional focus. How much money are you making? Should you spend another five dollars on a third latte this week? Are my friends making more money than me? Many of these thoughts may cross our minds weekly or even daily. These thoughts can cause us to feel a certain way about money. Sometimes even driving our behavior and decision-making.
Money goals could include things like
Meeting your savings goals this month,
Selling a few gently used items to bring in a little extra cash this month,
Limiting the number of impulsive purchases compared to the previous month,
Cutting back on convenience purchases like dining out or delivery.
Making full use of your online course subscription or gym membership. (The more you use it, the lower the cost per use and the greater the benefit to you!)
Financial goals might include things like
Fully funding your retirement fund by age 45
Being completely debt free by 33 to enjoy the bliss of financial freedom
Branching into other investments like real estate or e-commerce to generate supplemental income
Building a savings nest egg for your child's future or college tuition by their senior year.
Addressing Negative Thoughts About Money
The development of negative thoughts about money can be traced back to a complex interplay of experiences, influences, and societal conditioning that become embedded in the subconscious mind. Sometimes, the things we go through when we're young or situations we see around us create a link between negative emotions and money.
This connection often leads to the internalization of beliefs that will shape our financial mindset well into adulthood. Left unaddressed, similar experiences throughout our lives can continue to trigger negative feelings about money, perpetuating a cycle of anxiety and self-doubt.
For example, if we grow up in families or places where money is always tight and hard to come by, we might develop a scarcity mindset and begin to believe that we'll never have enough. On the other hand, if we suddenly get a lot of money, like an inheritance, we might feel pressure to handle it perfectly and be afraid of losing it. And if we lose money in investments, we could feel like we failed and might want to avoid money matters altogether.
Societal comparisons further exacerbate negative thoughts about money. The pervasive influence of social media can amplify feelings of inadequacy as we scroll through carefully curated displays of material success on a daily basis. If we’re not mindful, these habits can foster a sense of not measuring up or falling behind financially.
Educational gaps can also contribute. A lack of financial literacy or guidance leaves individuals vulnerable to making uninformed decisions, potentially resulting in debt or missed opportunities. Accumulated student loans, for instance, might cast a shadow of debt-related stress, causing some to associate education with a financial burden rather than an investment in future success.
Moreover, workplace dynamics can impact our perception of money. Unequal pay or workplace discrimination can perpetuate the notion that one's efforts aren't valued equally, creating a link between hard work and insufficient financial reward.
By recognizing these triggers and understanding the origins of negative emotions surrounding money, we can begin the journey of breaking free from self-limiting beliefs. Empowered with knowledge and a proactive mindset, it becomes possible to reshape attitudes toward money, fostering a healthier, more positive relationship that paves the way for financial abundance and well-being.
It may come as a surprise, but getting to the root of understanding our limiting beliefs and negative emotions surrounding money is far more difficult than actually understanding and implementing solid financial habits. By reading this far, you’ve already made so much progress towards overcoming any money obstacles you might face and reaching a level of financial freedom.
To help you coach yourself toward the financial life you picture in your wildest dreams, we’ve compiled a list of money mantras to keep you motivated and inspired to stay on track.
Money Mantras for Financial Success
Money mantras are positive words or phrases that are repeated to oneself to shift or encourage more positive thinking toward money. They can be helpful because they remind you of good money habits and help you focus on your financial goals.
Some people like them because they bring a sense of motivation and confidence. However, others feel a bit silly or find it hard to believe that repeating words can make a difference.
Whether you already know you enjoy mantras, or it's a new concept, there’s only experience and insights to be gained by reflecting on new thoughts and how they make you feel.
"Every day, I am growing richer in mind, spirit, and bank account."
"Every day is a new opportunity for me to attract wealth and financial success."
"Every day, I am expanding my capacity to attract abundance in all forms."
“I am grateful for the money I have and excited about the wealth that is coming."
"I am open to new ideas and creative ways to generate income."
Positive Statements for Abundance Mindset
"I use money to create a life of joy, purpose, and meaningful experiences."
"I am grateful for the abundance that surrounds me and excited for more to come."
"I believe in the limitless possibilities that money can bring into my life."
"I embrace positive money beliefs that lead me to make wise and prosperous decisions."
"I am creating a legacy of abundance that will positively impact generations to come."
Positive Thoughts for Financial Abundance
"I confidently manage my money, creating a stable and secure future."
“Living a life filled with financial abundance and opportunities is possible for me.”
"I have the power to create financial abundance and live a life of financial freedom."
"I am in control of my financial destiny, and I choose to manifest abundance in every way."
"I radiate positivity and attract financial abundance in all aspects of my life."
Can you feel a shift in your energy yet? Maybe there were just one or two phrases in this collection that really hit home for you. That is the pure power of positive affirmations and positive thinking as a whole. When you fill your thoughts with negative self-talk, what is that doing for you? Is it solving your problems or helping you reach new outcomes next time? Probably not. So why spend any of your precious energy or time on anything that isn’t making you feel and show up as the very best representation of yourself?
As we conclude, it's clear that our perception of money is deeply intertwined with our thoughts, emotions, and experiences. Social media's gloss may paint a distorted picture of success, but true fulfillment emerges when we harness the power within us to shape our financial destinies.
The journey to financial abundance is a nuanced one, filled with mindful choices and a positive attitude. By evaluating our financial patterns and distinguishing what serves us from what constrains us, we begin to untangle the threads of our financial tapestry. Each transaction carries an emotional weight that molds our beliefs about money manifestation. By taking control of these narratives, we can rewrite our financial script.
Your mind is a powerful tool to help you capitalize on all your financial dreams. Mantras and positive affirmations are just there to help support more positive thoughts.
Though they alone cannot turn you into a money magnet that instantly attracts large sums of money, they are helpful. The more time we spend radiating positive energy the more likely we are to discover new opportunities or generate unexpected money.
Remember, it's not just about having enough money; it's about utilizing it in ways that align with our values and dreams. Our relationship with money should be a conduit for joy, purpose, and meaningful experiences. It's not a solitary journey but a collective endeavor – one that inspires growth, supports our loved ones, and leaves a legacy of abundance for generations to come.
The path to financial stability lies firmly within your grasp.