When we talk about health and well-being we think about exercising, following a diet with foods rich in nutrients, getting enough sleep, etc. We don’t usually think of money as a factor that influences our health. But financial well-being is a component of overall well-being. If money occupies a large part of your concerns and is a source of stress and anxiety in your life, try to identify problematic behaviors related to money and create solutions to build a healthier relationship.
Financial health is about having a conscious and purposeful relationship with money that is satisfying and doesn’t cause too much stress. “How to improve my relationship with money “is a question that arises on many occasions, in this PsychologyFor article we will give you the best tips and tricks.
What does it mean to have a good relationship with money?
A good relationship with money includes:
Spend money based on your values
Have no debts or have few and reasonable ones
Save money for certain goals
Have money saved for possible emergencies
We must keep in mind that our current relationship with money is influenced by our childhood at which point we develop our money scripts, that is, our beliefs about money based on direct experience, family stories, and parental attitudes toward money.
Signs of a bad relationship with money
Some signs that may indicate that you do not have a good relationship with money are:
1. Your financial situation is not improving
An indicator that your relationship with money is not adequate is that at the end of each month your financial situation is the same, or worse. Despite trying to change it, it becomes an established habit. In this case it is not a question of money, but rather a behavioral one, that is, a series of behaviors related to money have been consolidated.
2. You avoid making plans for the future
You don’t have a long-term plan with your money. People can make excuses to justify themselves. For example: saying that you don’t have money, you’ll figure it out later, there’s time, etc.
Something that is not a good sign is when, when faced with the option of starting to save for various reasons such as retirement from work, the person says that he or she is too young, I’ll do it… This procrastination is an indicator that your relationship with money may not be be good.
3. You don’t have consistent strategies regarding money
If you have a debt, the person does not have consistent strategies to solve it. Since there is no plan, each month is focused in a different way and with a different priority. There is no roadmap and therefore, no progress is made. You must pay attention to what you do to create a more consistent plan, one that follows a single direction.
Ideas and tips to heal your relationship with money
Once you have detected that something is not going quite right in relation to your economy, it is time to learn. how to improve your relationship with money, Below we offer you 4 very effective ideas:
1. Observe your habits
First, take some time to observe how and when you spend money. This way you will identify your patterns, motivations when buying things, your triggers, etc. A good way to observe your habits is to record your purchases in a notebook for a month. Understanding or having more information about how and why you spend money is essential to being able to make changes.
2. Avoid comparing
We tend to compare our salary with that of others and are only satisfied if it is higher. If they offer us a land increase, but also other people, we are less satisfied than if it had only been offered to us. This comparison is an inexhaustible source of dissatisfaction. Take time to reflect on what you want without taking other people into account. Focus on what you can improve and feel the job satisfaction that comes from a job well done and improving your skills.
3. Adjust your goals
Assess your budget Most of what we need in our life is not about money, we can have a good life and not spend a lot. If you have financial problems, it’s about changing what you usually do. For example, if our expectations increase as our income increases, you can change that and instead of wanting more expensive things and in greater quantities, you can choose to save money. Instead of buying things, having money saved can give you more security.
One way to help you change your spending habits is to set incentives that motivate you to reach your goals. These incentives can be rewards for meeting goals or punishments when you don’t. This way it will be easier for you to persist until you reach your goal.
4. Review how you spend money
Spending money on material things does not always bring happiness. But there are ways to spend money that can make you happy:
Spend money on others: There are experiments that show that when people spend “extra” money on material goods it does not increase their happiness, but when they spend it on someone else or donate it, they experience a significant increase in their sense of well-being.
“Spend money to buy time”: Think of ways you can make more time in your life to have fun and make friends. For example, if you are a father or mother, you can invest the money in a nanny who can take care of your child to enjoy time for yourself, your partner, friends…
This article is merely informative, at PsychologyFor we do not have the power to make a diagnosis or recommend a treatment. We invite you to go to a psychologist to treat your particular case.
If you want to read more articles similar to How to improve my relationship with money we recommend that you enter our Personal Growth and Self-Help category.
