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Head over heels or in over your head?

What kind of relationship do you have with money? Are you head over heels in love with your financial situation or are you in over your head financially? And how does this affect all your other relationships?

We all have a relationship with money. The type of relationship with money you have is reflected in your financial situation. If you have a poor relationship with money, it becomes a source of dissatisfaction, stress, anxiety, fear and frustration. On the other hand, if you have a healthy relationship with money, your financial situation becomes a tool you appreciate, improve and use wisely to make your dreams a reality.

All your relationships are affected

Your relationship with money is not only important to successfully manage your own money, it also affects all your other relationships!

If your relationship with money is negative, it will impact negatively all your other relationships – particularly with your partner, but also with your children and other family members. In fact, money is among the top causes of divorce and the most common cause of stress in relationships.

For this reason, it is very important to cultivate a good relationship with money.

“Money may not buy love, but fighting about it will bankrupt your relationships!” – Unknown

 The good news is that it is possible to improve your relationship with money, no matter what it is like now. Here are our top tips.

Top tips for improving your relationship with money

  • Take an honest look at your finances, without criticising or blaming. Where are your problem areas? Do you have income challenges, debt issues or a spending problem? Do you struggle to manage your money, to save money or to invest?
  • The problem areas reveal your financial issues. This allows you to identify the beliefs about money that cause these issues. Do you believe that money is bad? That you can’t handle money? That there is never enough? Begin to correct these restrictive and inaccurate beliefs with more realistic, supportive beliefs: that money is a valuable resource; that you can learn to handle money; and that it is always possible to improve your finances.
  • Boundaries are essential in all healthy relationships. In terms of money, those boundaries are called a budget. Create a realistic budget and commit to it.
  • Be honest and open about money, your money beliefs and your financial goals with your partner, children and other family members, and include them by making decisions and learning together.
  • Build new money relationships with people who can help you make the right decisions, such as your financial coach.

In this month of celebrating relationships, these tips will help you transform your relationship with money. This will not only empower you to achieve your financial goals, but will also ensure your financial situation impacts your other relationships positively.

Join our February challenge!

Rate your relationship with money out of 10, and rate how your money matters affect your relationships out of 10, then share with your financial coach for amazing support to create a healthy, empowering relationship with money that will help you reach your financial goals and build better relationships with those you love.