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How To Improve Your Relationship With Money

Estimated reading time: 2 mins

We all have some sort of a relationship with money. It’s just that, like with anything else, these are often complex at the best of times and some of us have better financial relationships than others. 

Often a taboo subject to talk about, money can be a source of stress, fear, and even damaging to some. Still, it’s crucial to overcome this if you want your finances to look healthy in the future.

Money isn’t just about numbers. It is actually one of the most important relationships in your life, so it’s vital to improve it continuously. Whether it’s getting out of debt, or simply wanting more, here are three ways to strengthen and nurture your relationship with money and to remind you that having a negative association with finances isn’t something that you have to live with forever.

Set goals

Setting weekly, or even monthly goals, to help either your personal or business finances move forward, will help to keep you motivated and on track. Having a financial goal will help to clarify your finances and show you where you next need to take action to continue to grow. 

This can be anything from preparing your tax return forms, chasing up any late invoices or merely catching up with bookkeeping once a week. If you own a business, you should also consider other, perhaps not so obvious, areas where you can become more financially savvy such as looking into your Business Energy usage and switching to a more cost-efficient supplier. 

If you have a side hustle, work out your next financial steps and what you need to do to take it full time. When it comes to money, having a clear strategy and knowing what you want to achieve will provide clarity, instantly making you feel more confident. Once you know where your money is going you can then start to make room in your budget for other things. 

Educate yourself

Educating yourself on anything related to finances is probably one of the best things that you can do to be more money positive. They say that knowledge is key and that couldn’t be more true when it comes to finances – after all, how can you pay off your debts, save or know how to budget if you don’t know anything about it? Learn about investing, the best savings accounts that are available and what the best interest rates are. Not having knowledge on a subject makes it scarier, so take the fear factor out of it and give yourself the tools to guarantee your success instead. 

Work on your money mindset and surround yourself with like-minded people

Learn to recognise and quit unhelpful and negative thoughts which are self-limiting in order to reverse them. Our thoughts often become our reality so if you have negative connotations with money, then you will never succeed in your goals. Deal with any unresolved issues that you might have and surround yourself with financially savvy, positive, and like-minded people who have the same goals as you do. Energy is contagious, so look to find people who are disciplined about their spending, who know the value of money, and who know how to budget. They are more likely to encourage you to help you meet your goals, and chances are you will adopt these same, like-minded thoughts.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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