Financial Literacy begins with rewiring your relationship with money. Financial Literacy is more than numbers. It also includes how you think and how you feel about money. Because money is basically an inside job!
Most of us were not raised to nurture a healthy relationship with money. Our national and household debt is a testament to that fact. Many of us inherited disempowering beliefs about money. These have become part of our subconscious thoughts that are often in conflict with our conscious desire for more wealth, leaving us feeling anxious.
If you were raised to believe that money is the root of all evil, you might unconsciously be closing the door to wealth despite wanting more of it.
Our financial reality
How you think and feel dramatically impacts how things appear in your life.
Consider this; according to a Lendingclub report, 58% of Americans live paycheck to paycheck — including 36% of those earning $250,000 or more.
It’s not the amount you earn but your relationship with money that determines your financial well-being. Your relationship with money starts with how you think and feel about wealth.
Emotional money literacy — what’s behind your money trauma?
It’s easy to blame inflation, government policy, and your background, but before you do that, think about your existing relationship with money. And some of the beliefs you have around money. For example, beliefs such as “money are the root of all evil.” And that rich people are entitled and corrupt.
Some of us believe that money will solve all our problems. Or that there is never enough.
Another common belief is that making money involves a lot of sacrifices — health and my time with family.
These beliefs are behind our money problems, not money per see.
As a result, we:
Get into debt to impress others with a new car, fancy clothes, or the latest gadgets.
Work long hours and then blow our money, saying we deserve everything we buy because we work hard. We envy those with money; we fail to save; are afraid to invest, avoid our money problems; default on our debt.
Rescript your beliefs
To rewire your relationship with money, you must change the subconscious scripts you have about money. Instead of money being evil, recognize that money is merely a tool. It is not inherently good or bad.
There is more than enough money around us. If we would remove our blocks, we’ll see it.
Money cannot solve your problems. Only you can solve your problems.
Money flows into your life. Many people attract money easily without sacrificing their time.
You don’t need money to impress others.; you need to be yourself.
Wealthy people have more positive attitudes towards money, and you can reprogram your limiting beliefs to attract more wealth.
Bringing it all together
Become aware of your beliefs, question them, and commit to rescripting them whenever you see yourself thinking, feeling, or saying something that can hinder the flow of money into your life, stop yourself and pivot to a new way of thinking, feeling, and doing things.
Article by Jennifer Thompson Sign Up For The Rewire Your Wealth 12-week program.