Dr. Lisa Marie Bobby is the founder and clinical director of Growing Self Counseling and Coaching. She's the author of “Exaholics: Breaking Your Addiction to Your Ex Love,” and the host of The Love, Happiness & Success Podcast.
How To Be Better With Money
Money. Love it, hate it, it matters. Financial concerns can impact every area of your life, including your relationships, your career and even your self-esteem. Learning how to take charge of your financial success is vital to creating the life you want.
Money and Your Career
Think about your career: Are you doing what you love? Are you doing what you love but resentful and exhausted because you're not getting paid enough for it? Or do you white knuckle your way through every workday at a job that you hate, because of the paycheck? Neither is ideal, and learning how to manage your money can be part of making positive changes in your career.
Money and Your Emotional Health
How much money you have can make the difference between feeling safe and secure, and like you're always scrambling and juggling to make ends meet. Furthermore, feeling like you're failing financially can impact your self-esteem. Many people are carrying shame about their debt, or feel embarrassed by their financial circumstances.
Feeling like you never have quite enough can lead to stress and anxiety, and even feelings of depression. While money may not buy happiness, feeling like you generally have the resources to fund the lifestyle you enjoy can certainly impact the way you feel.
Have you ever said “no” to an out-of-town wedding because you felt like you couldn't afford it? Or canceled your yoga class membership? Or slept less to put in a few extra hours on the job? Or denied yourself effective counseling or coaching, even if you knew it would really make a difference in your life? Or even made food choices that were less healthy, but more budget-friendly?
All of these scenarios are the intersection between your money and your self-care. Part of the reason getting a handle on your money is so important is so that you have the resources to nourish yourself, spend money on things that bring you genuine joy, or invest in something that fills your soul.
Once you have good financial skills, money can be a source of security and joy, rather than a constant worry. Really!
How Financial Differences Impact Relationships
We often think about our financial success in individual terms, but how you relate to money can also have a major impact in your marriage or partnership. When two people have very different financial goals, or relationships with money, financial differences can be a major source of conflict in a relationship. [Financial Therapy For Couples]
When couples fight about money, they're often fighting about their values, priorities, and their hopes and dreams for the future. Over time, money fights can become bitter and entrenched, and can even lead to ruptures in your relationship. Understanding how to manage money as a couple is so important, it's one of the skills we routinely teach couples in our Lifetime of Love premarital counseling class.
Improving the way you manage money as a couple involved both of you understanding your subconscious relationship with money, having open and honest conversations about your priorities, values and goals, and then working together to make a plan to create the financial future you want.
What Kind of Relationship Do You Have With Money?
The first step in learning how to be better with money is figuring out what kind of relationship you have with it... and then how to improve it.
Money always means different things to different people. For some, financial success means having a lot of stuff. For others, money in the bank means freedom and / or fun. Other people equate money with safety. Still others view financial security as a legacy to pass on to their family.
However, money is does not always have positive associations. You may, on an emotional level, feel that it's wrong to acquire wealth or have too much money. You may have a subconscious belief that you always struggle financially, or that wealthy people are greedy and selfish.
Perhaps you're intimidated by money. Many people are. Being fearful of making financial mistakes, or having anxiety about investing can lead to long term financial decisions that put you at a disadvantage.
Conversely, feeling comfortable with money and confident in your ability to handle it can turn it into a positive force in your life. One of the biggest issues that many people encounter when they are seeking to get better with money are their own — often hidden — associations, beliefs and emotions related to money.
Bringing these to the surface and deciding what beliefs are helpful to you currently (and which are getting in the way of your financial success) will allow you to make real and lasting change in your relationship with money.
Get In Control of Your Finances
Part of becoming a whole person is learning how to cultivate financial success, according to your own terms. Learning how to be good with money is a life skill, just like taking care of your physical and emotional health, and learning how to have good relationships.
Learning how to be better with money is not just a matter of making a budget and stopping your $5 latte habit. Genuine financial success requires self-awareness, clarity about your core values, and intention — as well as a plan. Financial management is a vital life-skill that is learned, and once you have a tool-box of strategies to manage your money you can flourish in every way.
That's why, on this episode of the Love, Happiness and Success Podcast I'm speaking with Profit Boss Hilary Hendershott. Hilary is a Certified Financial Planner, financial advisor and a wealth coach. She has helped many people learn how to not just manage their finances, but create genuine abundance in their lives.
She's here with actionable advice to help you:
- Gain self awareness about your patterns with money
- Stop sabotaging your financial success
- Use your core values guide your financial decisions
- Develop an intentional relationship with your money
- Guide your money, easily and effortlessly
- Create long-term financial peace
Listen to our discussion and get actionable advice from Hilary about how to start changing your relationship with money for the better, starting today.
Listen & Subscribe to the Podcast
Financial Success: How to Be Better With Money
Music Credits: “Million Dollar Man,” The Dig