How can you improve your relationship with money? The truth is, your relationship with money is one of the most important relationships in your life.
And unless we find ourselves in an alternate universe living off the grid (real Captain Fantastic vibes) – money isn’t something we can escape.
It’s a relationship we’ll always have – and we have a choice about how well that relationship works in our lives.
And just like having a good marriage or partnership (whether it’s a life or business partnership), your relationship with money takes work.
I firmly believe that being a good financial steward of your money is an act of self-love.
You are taking care of yourself when you nourish a positive relationship with money.
But it can be hard!
Sometimes we don’t know where to start.
Some of us didn’t have great role models when it came to money.
Some of us didn’t learn about finances or taxes in school (which is another bone I gotta pick, but not today!).
Because I’m a romantic at heart, here are some ideas for how you can nourish and improve your relationship with money:
1. Have a savings account
Because putting away even a little bit of money might make you feel just a little better.
This is a great solution for those of us who struggle with feeling a sense of security or stability when it comes to our money.
Even having a tiny bit of money in the bank makes you feel more secure! Having no money in the bank is a surefire way to increase anxiety and further complicate tense relationships with money.
Swear to God – I consistently have a few $20 bills hidden in my car. Trust me – this is GREAT on those farmer’s market days when I forget to hit up the ATM beforehand, and I always feel better having a little cash squirreled away.
Pro Tip: Open a savings account in a COMPLETELY separate place from your debit card or your business accounts… put even just a TINY bit of money in it every month ($10 is more than $0!), so you can feel secure knowing you always have something in the bank. You get extra credit if you put your savings on autopilot.
2. Learn about money
IMPROVE YOUR Relationship with money by investing in education.
Here’s what I know for sure:
So many (sooo many) people have shame around money because they don’t understand basic finance.
And the result is, people take a “head in the sand” approach to money – which is a bit like sticking your fingers in your ears when you are fighting with someone (Ya get nowhere and you end up feeling anxious and angry, which leads to more sticking-your-head-in-the-sand stuff).
But let me tell you something, if you don’t understand money, it’s not necessarily your fault (see above: not taught in schools! I digress.).
BUT, it is entirely up to you to turn that I-don’t-know-about-money-ship around now. Not tomorrow. If you want to improve your relationship with money – it’s up to you!
SO, cozy up to money with a great book and educate yourself. There’s no shame in not knowing what you don’t know.
Try reading The Art of Money by Bari Tessler, or You Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero, OR Chillpreneur by Denise Duffield-Thomas. These books are all personal favorites; they do a great job of empowering their readers to improve their relationship with money.
Listen – I work in money, and I STILL have to work on my relationship with it and my skills. Plus, things are always changing, so you have to keep your skillset sharp!
3. Empower yourself
be honest with how your feel about your money and adopt some positive thinking.
This one is a fun exercise. Try and actually write down all of the ways you feel about your money. The good and the bad.
For the more negative emotions and thoughts, create an opposing list that combats these negative thoughts with their direct (more positive) opposites.
Original thought: “I feel like there is never enough money for me.”
Opposing thought: “There is ALWAYS enough money for me. I have all the money I need.”
Write out these positive opposing thoughts and paste them around your house on sticky notes! Write them on your bathroom mirror! Bombard yourself with these positive thoughts so you can combat the bad ones with a fresh perspective.
4. Ask for help
If we really want to improve our money relationship, sometimes we need to call in the pros. and thats okay!
One thing that needs to be de-stigmatized in the entrepreneurial community, is the assumption that you need to know everything – or DO everything – in order to be a big buck 6-figure entrepreneur.
Acknowledging when certain aspects of your business or your life are not in your zone of genius, is not weak. Repeat after me: it is not weak to acknowledge when you need help.
In fact, if I could go back ten+ years, that is the FIRST piece of advice I would give myself. I wasted so much time doing things I should have delegated. If I had laid down my arms and delegated, my business would have grown bigger, and I would have made more money faster.
If you are struggling to improve your relationship with money or your bookkeeping because it feels unmanageable, messy, or overwhelming, there is no shame in seeking help when you need it. Just like there is no. shame. in seeking help when your marriage or relationship suffers,
Sometimes all it takes is one little step towards the life and the ideal relationship with money that you want.
Take a stand; take one – just ONE – step.
Remember: you got this.
Repairing or improving your relationship with money can feel daunting. But the world is full of possibilities to help us. The only thing we need to do is be willing to take one step towards the type of relationship with money that we long for.
Any of these tips will assist you in your pursuit of a better relationship with money – remember to always ask for help when you need it!
With over 20 years of experience working with entrepreneurs and thriving small business owners, we offer a variety of services to help you build healthier money habits. Trust me – it’s life changing to finally feel equipped to embrace (instead of face) your finances in your business.