Positive money psychology can reverse your life’s trajectory !

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Written By Voitto Insights

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1. Money as a powerful force

Money is a powerful force that can influence our lives in many ways. It can provide security and stability, as well as open up opportunities for growth and success.

However, it can also create stress, anxiety, and fear if we don’t have a healthy psychology around it. But do these negative emotions help in anyway? They don’t and are detrimental to your money making efforts. Run away from these emotions, if you come across them.

Money deserves to be happy to be able to help you. The sooner you recognize this, the better for your financial health.

In this article, we’ll explore what it means to have a healthy psychology on money, and provides few tips and strategies for cultivating a positive relationship with money.

2. Understanding your relationship with money

Money holds significance in your life precisely because it provides you with an opportunity to define yourself. The beliefs you develop regarding money are based on your childhood, as you learn from the early interactions with your parents and caregivers.

If your parents had a healthy relationship with money, it is more likely that you will also have a positive attitude towards it.

However, if your parents struggled with money or had negative beliefs around it, you may have internalized those beliefs as well.

Have you ever stopped to recognize that your relationship with money is influenced by culture, society, and media? We are bombarded with messages about what we should value and how we should spend our money. These messages can create unrealistic expectations and contribute to feelings of inadequacy or shame if we don’t meet those expectations.

To begin understanding your relationship with money, you can ask yourself few questions:

What were my early experiences with money?

Did my parents talk about money openly, or was it a taboo subject?

What are my current beliefs about money?

Do I see it as a source of security and opportunity, or as a source of stress and anxiety?

How do I feel when I think about money? Do I become anxious, worried, or excited?

What messages about money have I received from society, culture, or media?

How have these messages influenced my beliefs and behaviors? Were these positive or negative?

By taking the time to reflect on these questions, you can begin to gain great insights into your relationship with money and identify any negative beliefs or behaviors that may be holding you back.

3. Mindset shifts for a healthier relationship with money

Once you have a better understanding of our relationship with money, you can begin to shift your mindset towards a healthier and more positive side. This requires identifying and overcoming any limiting beliefs that you may have, and adopting a mindset of abundance and gratitude.

a. Limiting beliefs

Limiting beliefs are thoughts or ideas that hold us back from reaching our full potential. When it comes to money, limiting beliefs can be damaging and may take many forms, such as:

“Money is the root of all evil in my life”

“I’ll never be able to get ahead of my friends financially”

“Rich people are greedy and selfish”

“I don’t deserve to be wealthy due to my background”

“Money can’t buy happiness”

These beliefs can create a sense of scarcity and fear around money, which can lead to self-sabotaging behaviors such as overspending, deliberate losses or avoiding great financial opportunities.

To overcome limiting beliefs, you must first identify them and challenge their validity. You can do this by asking yourself questions such as:

Is this belief based on fact or opinion?

Where did this belief come from?

Is this belief serving me, or holding me back in life?

What evidence do I have that contradicts this belief?

By challenging your limiting beliefs and replacing them with more empowering thoughts, you can begin to shift your mindset towards abundance and opportunity.

b. Focus on abundance rather than scarcity

Another mindset shift that can help you cultivate a healthier relationship with money is focusing on abundance rather than scarcity.

When you focus on scarcity, you tend to see everything through the lens of limitation. You start believing that there’s never enough to go around, and that you must constantly struggle and sacrifice to make ends meet.

On the other hand, when you focus on abundance, you see things through the lens of possibility and opportunity. You start believing that there’s plenty to go around, and that you can create more of what you want in life by focusing on your goals and taking action.

To shift your mindset towards abundance, you can practice gratitude and focus on what you already have, rather than what is lacking. You can also set goals and focus on the opportunities that are available to you, rather than dwelling on the obstacles or the past.

c. Embrace delayed gratification

Delayed gratification is the practice of postponing immediate rewards in order to achieve long-term goals. This can be challenging, especially in a culture that values instant gratification and encourages us to indulge our desires immediately.

However, by embracing delayed gratification, you can cultivate a stronger sense of discipline and self-control, which can help you to make better financial decisions and achieve your goals.

To embrace delayed gratification, you can start by setting specific goals and creating a plan to achieve them. You can also inculcate the habit of delayed gratification in your kids by turning the concept into a game. You can ask your kids to wait for 24 hours before they make any impulse purchases by telling them about mental strength.

You can then focus on taking small steps each day towards those goals, even if it means making sacrifices in the short term.

For example, you may choose to save money by cooking at home instead of eating out, or by cutting back on unnecessary expenses like subscription services or impulse purchases.

d. Building a positive relationship with money

Building a positive relationship with money is crucial to achieving financial success and overall wellbeing. A positive relationship with money means having a healthy mindset towards money, recognizing its importance in your life, and understanding how to use it to achieve your goals.

One key aspect to building a positive relationship with money is to develop your financial literacy.

This means understanding the basic financial concepts like budgeting, saving, investing, and debt management.

By educating yourself about these concepts, you can make informed financial decisions and avoid common pitfalls.

Practicing self-awareness is another important aspect towards building a positive relationship with money. This means understanding your own spending habits, values, and priorities.

By being mindful of how you use our money, you can ensure that you are spending it in ways that align with your goals and values.

In addition, building a positive relationship with money means practicing gratitude and abundance. This means recognizing the abundance of opportunities and resources that are available to you, rather than focusing on what is not available or lacking.

By cultivating a mindset of abundance, you can approach your financial goals with a sense of optimism and possibility.

Ultimately, building a positive relationship with money is about understanding that money is a tool that can be used to achieve your goals and improve your life.

By developing a healthy mindset towards money, educating yourself about financial concepts, and being mindful of your own spending habits, you can cultivate a positive relationship with money that empowers you and helps you thrive.

Ken Honda’s insights on Money relationship

4. Practicing mindful financial habits

Mindfulness is the practice of being present and fully engaged in the moment. When it comes to your finances, practicing mindful financial habits can help you make better decisions, reduce stress and anxiety, and improve your overall financial wellbeing.

Here are few ways to practice mindful financial habits:

a. Set good intentions

One of the first steps to practicing mindful financial habits is to set intentions. This means taking the time to reflect on your financial goals and values, and making a plan to achieve them.

Whether you want to save for a down payment on a house, pay off debt, or build an emergency fund, setting intentions will help you stay focused and motivated.

b. Create a realistic budget

Creating a realistic budget is an important part of practicing mindful financial habits. A budget helps you track your spending, prioritize your expenses, and ensure that you are living within your means.

When creating a budget, be sure to be practical, include all your expenses, including fixed expenses like rent or mortgage payments, utilities, and car payments, as well as variable expenses like groceries, entertainment, and travel.

c. Track your spending

Tracking your spending is another important part of practicing mindful financial habits.

By keeping track of where your money is going, you can identify areas where you may be overspending or wasting money. Check if you are being overcharged by your Credit Card and thus loosing money unnecessarily.

There are many apps and tools available to help you track your spending, or you can use a simple spreadsheet or pen and paper.

d. Avoid impulse purchases

Impulse purchases can quickly derail your budget and leave you feeling stressed and anxious.

To avoid impulse purchases, practice mindfulness when shopping.

Before making a purchase, ask yourself if you really need the item and if it aligns with your financial goals and values. Consider waiting a few hours or days before making a purchase to ensure that it is something you truly need or want.

You can also do a quick cost benefit analysis in your mind.

Managing family money can provide you good hands-on money management practice. It can be as small as planning and paying for Groceries.

Below are few reasons as to why it is important.

e. Practice gratitude

Practicing gratitude can help you cultivate a positive mindset towards money and reduce stress and anxiety.

Take time each day to reflect on the things you are grateful for, including the financial resources and opportunities that are available to you.

When you approach your finances with a sense of gratitude and abundance, you are more likely to make positive financial decisions and feel empowered to achieve your financial goals. It also motivates you to take action in the right direction.

You can buy Happy money by Ken Honda !

f. Avoid comparison

Comparing yourself to others can be a major source of stress and anxiety, especially when it comes to money. Please understand that you are ultimately responsible for the payment, not your neighbor.

Avoid comparing your financial situation to others and instead focus on your own goals and financial values. Remember that everyone’s financial journey is different, and there is no one-size-fits-all approach to achieving financial success.

g. Seek support

Finally, seeking support can help you stay accountable and motivated in your financial journey.

Consider joining a financial support group or working with a financial advisor or coach. These resources can provide you with the tools, resources, and support you need to achieve your financial goals and improve the overall financial wellbeing.

Practicing mindful financial habits is a journey that requires patience, persistence, and self-awareness.

By setting intentions, creating a budget, tracking your spending, avoiding impulse purchases, practicing gratitude, avoiding comparison, and seeking support, you can cultivate a positive and empowered relationship with your finances.

5. Professional financial help is important

Managing your finances can be challenging, and it’s not uncommon to feel overwhelmed or uncertain about how to achieve the financial goals.

Seeking professional financial help can be a game-changer, offering valuable guidance and support as you navigate the complex world of personal finance.

Here are few reasons why seeking professional financial help is so important:

a. Brings expertise and knowledge

Personal finance professionals have the expertise and knowledge to help you make informed decisions about your money.

They understand the complexities of financial planning, investment strategies, and tax regulations, and can provide you with the guidance and support you need to make smart financial choices.

b. Provides customized solutions

Every person’s financial situation is unique, and a professional financial advisor can help you develop a customized plan tailored to your specific needs and goals.

They can help you identify your short-term and long-term financial objectives and develop a plan to achieve them.

c. Develops an objective perspective

When it comes to your own finances, it can be challenging to maintain an objective perspective. You may be emotionally attached to certain investments or be hesitant to make necessary changes to our financial plans.

A professional financial advisor can provide you develop an objective perspective, helping you make rational and informed decisions about money.

d. Saves time and effort

Managing your finances can be time-consuming and require a great deal of effort.

A financial advisor can help you save time and energy by taking care of the details and providing you with the tools and resources you need to achieve your financial goals.

e. Manages risk

Managing financial risk is a crucial part of any financial plan.

A professional financial advisor can help you identify potential risks and develop strategies to manage them. They can also help you diversify your investments to minimize risk and maximize returns.

f. Provides confidence and peace of mind

Perhaps the most significant benefit of seeking professional financial help is the confidence and peace of mind it can provide.

Knowing that you have a professional advisor working with you to achieve your financial goals, can give you the peace of mind and confidence you need to make informed financial decisions. You will also feel empowered about your financial future.

However, you can also be your own financial advisor by building your knowledge.

6. Parting thoughts

Your psychology on money is a crucial aspect of your financial well-being. Your mindset and beliefs about money can impact your financial decisions and overall financial success.

By adopting a positive and mindful attitude towards money, you can improve your financial habits, increase your financial literacy, and achieve your financial goals. Practicing self-awareness, setting realistic goals, budgeting, and seeking professional financial help are all important steps towards building a healthy relationship with money.

You should remember that your financial journey is unique, and it’s okay to make mistakes along the way. The most important way forward is to stay committed to your goals and to continue learning and growing in your financial journey.

By adopting a healthy mindset and making conscious financial decisions, you can build a brighter financial future for yourself and your loved ones in a fun way too.


1. What do you mean by Psychology of money?

Ans. The study of how you behave with money is known as the psychology of money. Money success has nothing to do with intelligence, education, or math prowess. It has to do with your behaviour, and everyone is more likely to exhibit different behaviours than others, which are based on your past experiences.

2. Can Money buy happiness?

Ans. It has been observed that the least happy group’s satisfaction increases with income up to $100,000, before declining as the income increases. Happiness rises linearly with wealth for people with average emotional health, and for the happiest group, the relationship actually multiplies faster over $100,000. You can read more in this Wharton article.

However there is another perspective of the Bhutan case study, where people feel protected despite less money and trust their relatives or the King to take care of them during need.

3. Do rich people feel anxiety about money?

Ans. Yes, rich people do feel anxiety about money as they have different definitions of money security. A minimum wage earner can be happy with few weeks of money security but this may not be the case with the wealthy.

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