How To Detox Your Mind From Negative Money Beliefs
Negative money beliefs can be very harmful to our overall well-being. They can prevent us from achieving our financial goals, and may even lead to financial ruin. It is important to detox your mind from these toxic thoughts in order to improve your relationship with money. A positive money mindset is essential for financial success. When you have a positive money mindset, you believe that you can achieve your financial goals. You understand that money is a tool that can be used to improve your life, and you are willing to work hard to earn it. As a result, you are more likely to make smart financial decisions and take the necessary steps to achieve your goals. With a positive money mindset, you can overcome any obstacle and achieve the level of financial success that you desire.
Where do Negative Money Beliefs Stem From?
Financial Therapist Aja Evans of Aja Evans Counseling explains that "Most frequently our ideas about money, positive or negative, stem from the messages and narratives we took in as a child. It can be really hard to pinpoint because a small meaningful moment, observation, or overheard conversation has the power to impact a person. The way other people related to money around you when you were young sets a foundation of thought around money. Your life experiences then continue to add to that narrative unless it was shifted or changed at another point in your life." Aja states. Here are some tips on how to do detox your mind about negative money beliefs:
1. Acknowledge your negative money beliefs.
The first step is to acknowledge that you have these negative beliefs about money. Once you are aware of them, you can start to work on changing them. “Start to get really honest with yourself about what you believe about yourself and money, this is the best place to start. What does money mean to you and why? An exercise I often use with my clients is to have them write a story about money throughout their life. From their first memory about money all the way through their life. It's a really powerful tool to start diving into what role it played in your life." Aja shares.
2. Identify the source of your negative money beliefs.
Try to identify where these beliefs came from. Was it something you heard growing up? Or maybe it’s something you picked up from society at large? Once you know the source, you can start to question why you believe it. If you grew up hearing negative things about money, it can be hard to break out of that mindset. You might think that you're not good with money or that you'll never be able to save up enough to reach your financial goals. However, it's important to remember that your mindset can have a big impact on your reality. If you believe that you can't achieve financial success, then it will be much harder to take the steps necessary to make it happen.
3. Challenge your negative money beliefs.
Once you have identified the source of your beliefs, it’s time to start challenging them. Why do you believe that money is the root of all evil? Or that you’ll never be able to achieve your financial goals? Start to question these beliefs and see if they really hold up. "Ignoring those facts does nothing for our wellness or our bank accounts." Aja says.
4. Replace your negative money beliefs with positive ones.
Once you have challenged and changed your negative beliefs, it’s time to start replacing them with positive ones. Start to believe that you can achieve your financial goals. Money is not evil, it is a tool that can be used for good. For example, if you grew up hearing that "money doesn't grow on trees," you can reframe it as "money is something that we have to work hard for." This reframe puts a positive spin on the situation and helps you see money in a more positive light. Another way to combat negative messages about money is to talk to someone who has a positive relationship with money. This could be a financial planner, someone who is good with budgeting, or even just a friend who is responsible with their finances. Talking to someone who has a positive relationship with money can help you see that it is possible to have a healthy and positive relationship with money, despite what you may have heard in the past.
5. Take action towards your financial goals.
Finally, take action towards your financial goals. If you want to save money, start budgeting and cutting back on expenses. If you want to make more money, start looking for ways to increase your income. Taking action will help to reinforce your new, positive beliefs about money. Aja explains that we need to debunk that money is taboo and shouldn’t be talked about. "We all have to navigate money in some shape or form. Not talking about it or keeping it a secret doesn't allow for education to flow as freely as it needs to. Financial education and behavioral wellness are both needed to build wealth. You have to be able to talk about money to learn or teach about it." Aja shares. If you're not sure where to begin, here are a few simple steps you can take to start taking control of your finances:
Track your spending. Knowing where your money is going is the first step to making changes in your spending habits. Try tracking your spending for a month to get an idea of where you can cut back.
Make a budget. Once you know where your money is going, you can start setting limits on how much you spend in each category. A budget will help you make sure you're not overspending and will give you a goal to work towards.
Invest in yourself. One of the best ways to improve your financial situation is to invest in yourself. Whether it's taking a class to learn new skills or investing in a business venture, making an investment in yourself is always a good idea.
Save for retirement. It's never too early to start saving for retirement. Even if you're just starting out, setting aside a little bit each month can add up over time and give you a cushion to fall back on when you retire.
Make a plan. Having goals and a plan for how to achieve them is essential for making progress towards your financial goals. Once you know what you want to accomplish, you can start working on a strategy to make it happen.
Most of us have a complicated relationship with money. For some of us, it's a source of stress and anxiety. For others, it's a source of happiness and security. But one thing is for sure: the way we think about money can have a big impact on our lives. If we have a positive money mindset, we're more likely to make wise financial decisions. We're less likely to impulsively spend money on things we don't need. We're more likely to save for the future. And we're more likely to feel good about our finances overall. On the other hand, if we have a negative money mindset, we're more likely to make poor financial decisions. We're more likely to fall into debt. We're more likely to feel anxious and stressed about our finances. And we're less likely to feel confident and secure in our financial future. The bottom line is that the way we think about money matters. If we want to improve our financial wellbeing, it's important to develop a positive money mindset.