Vedere Consulting

We all have a relationship with money. We either care for it, nurture it or we abuse it. Many of us are anxious about our finances. It’s a relationship we can’t escape—and it’s complicated, if not sometimes dysfunctional.

So what constitutes a healthy relationship with money? Interestingly, it’s not about having a lot. Research indicates that more money increases happiness when people move from poverty to the middle class, but falls off after that. Real satisfaction with money comes when we spend, save and acquire money in a way that is consistent with our deepest, most fundamental desires and values. It happens when we are able to be grateful for what we have, when we learn to be satisfied now rather than believing happiness will come when we move to a bigger house or buy the latest gadget. It comes from taking control of our finances instead of letting them control us.

This kind of satisfaction and gratitude is hard to sustain because our relationship with money is influenced by attitudes about money, our money “scripts,” that we have developed over many years. Money scripts are patterns of thought about money that are so habitual we are usually completely unaware of them. We develop our scripts from the way our parents dealt with money, cultural messages, and our own interpretations of events in our lives. One woman who always wore hand-me-downs is now determined to have “the best of everything.” A colleague whose parents taught him that being successful meant earning lots of money measures his success by how much money he makes. A woman learned from her parents that “the money will come when you need it,” used a credit card when she couldn’t afford something until she was in deep financial trouble. And all of us are bombarded by a culture that tells us every day that what we have and who we are is not enough.

The first step in developing a healthy relationship to money is to do some soul searching, to reflect deeply on what is most important to you. The second step is to identify the unconscious money scripts that create dysfunction in your relationship with money. The third step is to create healthier beliefs that will enable you to do the financial research and take grounded action that will move you toward a relationship with money that serves your deepest self. These three steps are vital because without them, your unconscious patterns will repeat themselves no matter how much planning you do.

Labels: A Healthy Relationship with Money

Click for more information on executive coaching with Vedere Consulting. You can also follow Plum on Twitter.