In a Relationship with Money

For many adults, the start of a new year means setting the stage to implement positive changes in the coming months. After spending time reflecting on the ups and downs of the previous 12 months, many people contemplate ways that they can improve their own lives and the lives of their families. The results often end with the determination to adjust some habits: eating habits, spending habits, exercise habits, and relationship habits. One relationship that is often overlooked is our relationship with money. In order to successfully reach financial freedom, we must develop and maintain a healthy relationship with our money.

A relationship with money? What exactly is a relationship with money? Consider how you value and spend money. Are you a spender, saver, gambler, or splurger? Does money ‘burn a hole in your pocket?’ Do worry about making more money or don’t think about money at all? A relationship with money is developed and shaped by our values, experiences, and emotions. Like our relationships with people, our relationship with money sometimes may result in feelings of insecurity or fear. It may also reveal our long-term goals and aspirations.

If you understand how money works and use it effectively to maintain good health and eliminate stress in your life, then you more than likely have a healthy money relationship. On the other hand, typical signs of an unhealthy relationship include apprehension about spending too much or not having enough to spend. Those in unhealthy money relationships are also more likely to fall for get-rich-quick scams and believe that money is the answer to all of life’s problems.

Take some time this month to think about your relationship with money and whether it is “normal or secure,” or unhealthy.” If your money relationship requires some work, start by thinking about how you want the relationship to change and set reasonable, measurable goals to get you there. Be intentional, but also remember to give yourself grace.

HAPPY NEW YEAR!