Have you heard of the phrase Money Psychology but wasn’t sure what it means?
Let me shine a light on that for you.
Money Psychology refers to the study of how people think, feel and behave in relation to money. It explores the various psychological factors that influence our attitudes, beliefs and behaviours relating to money and financial decisions. Identifying these is the space I work in, to help you identify if there are any of these areas that may be having a negative influence on your relationship with money. Once we can identify them, we can then consciously replace or reprogram them to create lasting change.
We initially work on the behavioural side of money together, so we can then move on to creating a Spending Plan, and putting Money Rules in place so you can create a beautiful life that feels wealthy to you.
A Wealthy Life doesn’t necessarily mean you have to be rich and have more money than you could ever handle. Having a Wealthy Life, a She Wealth life, is one where you consciously use your money to help you create a beautiful life that leaves you feeling wealthy in all areas, including your lifestyle, your health and your relationships, to name a few.
You effectively give every dollar you have a job to do, to help create your Wealthy Life.
Some of the areas we address when looking at your Money Psychology, or Money Behaviours, include:
- Money Belief and Attitudes – these are often shaped by our upbringing, culture and personal experiences.
- Financial Decision Making – we delve into how you make financials decisions and examine things from your past that may influence why you make decisions the way you do, or the emotions factors that can come into play.
- Money Scripts – These are unconscious beliefs or stories that we have about money that influence our behaviours or psychology. They are often deeply ingrained and can be harmful or helpful to our financial well-being. An example of this, is if someone has a scarcity mindset, and is always feeling they won’t ever have enough money, they can always feel a sense of lack and struggle to save or invest money.
- Financial Stress and Anxiety – money related stress and anxiety are common psychological experiences. Feeling financial pressure, debt or having uncertainty about the future can significantly impact mental health. Understanding money behaviours can help clients manage financial stress more effectively and make informed decisions for their overall wellbeing.
As you can see, there are lots of areas where the way we think about money can deeply impact how we see money reflected in our lives around us. By addressing the Money Behaviours, or Money Psychology first, before we look at the practical side of how we do money, we can change our behaviours at a subconscious level, thus creating lasting change.
As Behavioural Money Coaching is a deeply personal area, I only work one on one with clients, and as such only take on a limited number of clients at any one time. If you would like to explore to see how your Money Psychology is impacting you, please feel free to book in a call with me https://calendly.com/shewealth/complimentary-introductory-call
Your Money Matters 🫶