Changing Money Strategies

It’s difficult to share that while my income has grown over the past 3 years, I’ve still managed to spend more than I’ve made to the point of being in more debt after 3 years than I was in the prior decade (student loans aside). This was a recent wake up call for me that something needed to change and now!

First, I began to look into the feelings I had surrounding money. It was then that I saw a pattern emerge: I had a healthy fear of money, both of having it and not having it.

As ironic as that may sound, yes, I feared having money. I saw this in how as soon as I received a windfall (or knew one was coming), I immediately made plans to get the money “back out the door.”

The Universe also brought a spotlight to shine on the areas in my life where I did not appreciate nor value myself. It was easy at first to blame the “others” involved, however, if I truly valued myself I would not have put myself in the position to be devalued by others. I knew something needed to change within. And again: Now!

Next, I began to track my spending with a free app called “Spending.” After using it for a month, I saw how I had more money than I thought and I also saw how I misused it in some areas.

From this tracking, I created a budget I could stick to, though it is quite strict. I’ve even created a grocery list that gives a break down of what I can spend in different areas of the store (I created about 5 areas) and gave 2 numbers, each based on if I’m shopping for 1 or 2 weeks at a time.

Since then, I have sought personal loan offers on Lending Tree to help lower my interest rates and to get out of the revolving credit door. This loan has since been applied to my credit card with the highest interest rate being paid off first.

Part of my budget also includes plans for windfalls. 1/2 of any extra money goes into savings and the other 1/2 goes to my highest interest rate loan and my student loan- as extra payments.

On New Year’s Day, I saw and signed up for a 365-day course on healing my relationship with money, with a spiritual focus through Daily Om. It is helping me to see how my relationship with money is a reflection of my relationship with myself. Money is no longer a charged word for me!

It is my hope that in sharing this that one of you will gain a foothold into healing your own relationship with yourself, your self-value and your finances. Until we look within, we cannot heal what is without.

Namaste 🙏

P.S. An integral part of this, which is now a habit for me, is to feel gratitude for what I do have. This has been a tremendous help, as have daily meditations on shame, guilt, forgiveness and healing my inner child (The Insight Timer App has MANY awesome meditations).

25 thoughts on “Changing Money Strategies

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  1. I suffer the same affliction, was lucky enough though to be relieved of all outstanding debt in a recent divorce. I am determined to keep it that way as I will live on less as income decreases in the lean season and be more careful to develop a cushion for these times I just lack discipline and can’t seem to care that much about it

    Liked by 2 people

      1. Interesting. What does it mean to you (this can be rhetorical) if you make a mistake with money?
        For me, having money means standing out. It’s like I want to be financially average… middle class… yet in so many ways, I don’t enjoy being in the middle nor average. Enigma even to myself at times.

        Like

  2. I have to admit to having a similar mindset to money, maybe because of the way I was raised. I love the steps you took to overcome this, I guess being aware is the first step and then taking steps to change our spending habits.

    Liked by 1 person

    1. Yes!!! And part of taking the steps is recognizing that we have the power to change and that we are WORTH investing our time in! ❤️❤️❤️
      One big thing I did, too, was I spent an hour or so one morning UNSUBSCRIBING to 99% of the “spam” or ad email groups. Removing the temptation to buy online as an impulse ❤️

      Liked by 1 person

      1. I saw how easy it was to “just look.” Felt like the alcoholic walking past the bar or the Liquor store, “to see what he’s missing.” Why make it easy to choose the old path?

        Liked by 1 person

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