How to Change Your Relationship with Money

The Money Game

Money. It dictates our choices, fuels our desires, and shapes how we live our lives.

It significantly affects our well-being, relationships, and overall life satisfaction. 

We relentlessly chase after it, constantly feeling like we have just enough to get by but never enough to feel secure. And while we work tirelessly to earn it, too often, our labor feels fruitless, leaving us feeling unfulfilled. 

Although capitalists indeed run the world and poverty is still an issue worldwide, there is still hope in each individual through creating a better relationship with money. 

If you’re ready to change your relationship with money, let this article motivate you with practical solutions so that you can play the money game better. 

The Psychology of Money: Why Your Mindset Matters

The psychology of money explores our relationship with money as well as our behavior toward it. 

According to this article from the Harvard Business Review, our psychology (mental) and emotions (feeling) are closely related to how we view and manage our money.

Most people believe that success with money depends on intelligence, education, luck, or some sort of mathematical ability that they don’t have.

Although these are all possibilities for financial success, the reality is that your success with money is heavily dependent upon your behaviors, beliefs, and experiences interacting with it.

To improve your relationship with money and achieve better results in your life, your beliefs about money need to be reevaluated.

How to Change Your Beliefs About Money

Are you ready to shake up your money beliefs and make it rain? 

Mindset is everything when it comes to improving our lives, and money is no exception.

Now, I know what you’re thinking, and no, this isn’t some Law of Attraction gimmick or some brainwashing technique. 

If you hold unhealthy or harmful beliefs, they will influence your actions. This maintains the negative loop (unconscious belief ➡ automatic action ➡ confirmation of belief) in your mind.

The goal is to reframe unhealthy beliefs with a more accurate or positive belief. This ensures that your actions match those beliefs. Then, you will see improvements in your finances. You will recognize the opportunities available based on who you are. You will also see the opportunities based on where you are in life.

Here are a few simple steps to help you change your money beliefs.

1. Identify Your Money Beliefs

The first step in changing your mindset about money is to identify your beliefs about it. Duh right!? 

But don’t be fooled, this step can take some time and you may find yourself repeating it often. 

Identifying beliefs requires deep internal reflection, remembering the past, and a level of awareness many people aren’t equipped with. 

But if you’re here, you’re probably strong enough to do it.

Here’s how:

Take time to contemplate and think about your experiences with money and what you’ve been taught about it.

• How does it make you feel?
• Do you view money as a source of security, happiness, or stress?

Write down your thoughts and feelings about money and see if you can identify any patterns or themes.

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2. Challenge Your Limiting Money Beliefs

Once you’ve identified your beliefs and values about money, it’s time to challenge unhealthy or harmful beliefs. 

Here’s how you challenge them:

Ask yourself if your beliefs are serving you or holding you back.

For example, if you believe you can never have enough money, ask yourself if that’s true. Identify any behaviors reinforcing this belief. 

Now, here comes the challenging part…. You have to mentally reframe a better belief and reinforce that belief with your behaviors.  

It’s also important to note that your mind and body will resist change because humans are creatures of habit. It can feel like a challenge to sort out your emotions and thoughts when they don’t match up. And there’s no clarity on what you should do.

So go easy on yourself; this stuff takes time, and no, you’re not crazy… the system sucks, but that is not this post.

So here’s what you can do…

Increasing awareness of your relationship with money is a great first step. You’re doing great!

3. Adopt A Growth Mindset

A growth mindset is about embracing change, growth, and learning, rather than a fixed mindset in which you believe your abilities and circumstances are set in stone.

A growth mindset allows you to see the opportunities that are already available to you. 

Being open to change will increase your awareness of new possibilities, including better ways to reach your financial goals.

This means you are open to learning new things and exploring different approaches to your beliefs.

4. Educate Yourself About Money 

Some people have insatiable desires to obtain large amounts of money. And the power and will to stop at nothing to achieve it. 

Their secret is that they achieve it through various formal and self-education methods. They educate themselves through experience and are open to learning new skills and mindsets to help them reach their goals. 

Education is a powerful tool for changing your mindset and behaviors around money.

You can start by learning the basics of budgeting, saving, and investing. Read books, articles, and blogs about personal finance, listen to podcasts, or watch videos to learn more.

Think about what your money goals are. Determine what steps are needed to achieve them. Then find resources to learn more about it. 

The more you know about money, the more confident you’ll feel in your ability to manage it.

Unhealthy Mindsets About Money

Here are some of the common negative money beliefs that can have an impact on your finances:

Scarcity Mentality: The belief that there is never enough money to go around and that there will never be enough in the future. Instead, try adopting an abundance mentality. 

Impulsive Spending: The belief that making purchases is okay without considering the long-term financial consequences. Instead, resist the urge to buy things just because it’s on sale. 

Fear of Investment: The belief that investing in the stock market or other financial instruments is too risky or not worth the effort. Instead, make smart investments that support your future. 

Avoiding Budgeting: The belief that budgeting is too restrictive or unnecessary, leading to overspending and financial instability. Instead, focus more on knowing how much money comes in and where it goes every month. 

The “Get Rich Quick” Mentality: The belief that quick and easy money can be made through high-risk investments or get-rich-quick schemes. Instead, accept that financial success can take some time. 

Need a little help planning?

Download my Meal Planner found in the FREE Self-Reflection Journal.

• Plan budget-friendly meals that save both time and money.
• Reflect on your money beliefs with journaling prompts designed to rewire your mindset around wealth.
• Create actionable goals to build financial stability.

Click the link below to grab your free guide and take the first step toward a better financial future.

✨ Bonus Contemplation: 10 Money Quotes That Will Inspire You to Think Differently About Money

These 10 quotes about money will provide you with the inspiration and motivation you need to make better financial decisions so that you can reach your financial goals.

Contemplate or journal each quote that inspires you to take action in your life. 

1. Formal education will make you a living; self-education will make you a fortune. – Jim Rohn 

2. You must gain control over your money or the lack of it will forever control you. – Dave Ramsey

3. Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are. – James W. Frick

4. Money is worthless unless you use it to improve your life and the lives of others around you.” – Unknown

5. “Money can’t buy friends, but it can get you a better class of enemy.” – Spike Milligan

6. “Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are, whether it’s greedy or loving.” -Dan Millman

7. “A bank is a place that will lend you money if you can prove that you don’t need it.” -Bob Hope

8. “So you think that money is the root of all evil? Have you ever asked what is the root of all money?” -Ayn Rand

9. “Many folks think they aren’t good at earning money when what they don’t know is how to use it.” -Frank A. Clark

10.  “Money won’t create success, the freedom to make it will.” – Nelson Mandela