Heal Your Relationship with Money

Money. A simple five-letter word that can evoke a multitude of emotions. For some, it signifies security and success. For others, it’s a source of anxiety or guilt. Yet, for the ambitious women walking the path of entrepreneurship, understanding and reshaping our relationship with money is not just essential – it’s transformative.

In my experience as an operations management consultant, I’ve had the privilege to connect with numerous dynamic women. From those ready to launch their startup to those determined to make their mark as Online Business Managers (OBMs) or Virtual Assistants (VAs), a recurring theme often emerges: the complicated, sometimes fraught relationship many of us have with money.

The Root of Dysfunctional Money Mindsets

Before we delve into how to shift our perceptions, let’s first explore where these beliefs might come from.

• Cultural and Societal Conditioning: From an early age, many of us have been subtly (or overtly) fed messages about money. Phrases like “Money doesn’t grow on trees” or “It’s not ladylike to talk about money” can linger in our subconscious, shaping our attitudes towards finance.
• Past Experiences: Negative encounters with money, whether it’s facing debt, feeling undervalued at a job, or watching family financial struggles, can all leave deep-seated imprints.
• Fear of Judgement: This is particularly potent for women. The worry of being perceived as ‘greedy’ or ‘selfish’ for wanting financial success can be paralyzing.

The Shift: Creating a Healthy Money Relationship

For women in the entrepreneurial space, the stakes are even higher. Your relationship with money isn’t just personal; it’s intrinsically tied to the success and impact of your venture. Here’s how we can start reframing our money mindsets:

• Education is Empowerment: This cannot be stressed enough. Equip yourself with financial knowledge. Familiarize yourself with basic accounting, explore investment opportunities, and understand the financial metrics crucial to your business. Prioritize your tasks and include money management in them regularly! When you know better, you can plan better.
• Visualization & Affirmation: Imagine your life with financial abundance. What would you do? How would you feel? Internalize that image. Accompany this with daily affirmations. By repeatedly stating positive beliefs, you’re rewiring your brain to align with those beliefs.
• Build a Supportive Network: It’s often said that you’re the average of the five people you spend the most time with. Surround yourself with supportive, like-minded individuals, be it mentors, peers, or communities. They can offer guidance, share their experiences, and most importantly, normalize the pursuit of financial success.
• Recognize Your Value: As an entrepreneur, OBM, or VA, the skills and expertise you bring to the table are invaluable. When setting prices or negotiating contracts, remember that you’re not just offering a service; you’re providing a solution. Don’t undervalue what you offer.

Money as a Tool for Greater Good

When we view money merely as currency, we limit its potential. Instead, view it as a tool – a means to an end.

• Money Amplifies Impact: With more resources, you can invest back into your business, hire more staff, expand your services, or even support causes that resonate with you.
• Financial Freedom is Personal Freedom: With a stable financial foundation, you’re not just ensuring the well-being of your business, but also buying yourself the freedom to innovate, explore new avenues, or even take well-deserved breaks without constant worry.
• Economic Empowerment Leads to Broader Change: As women, our financial success doesn’t just uplift us. It creates a ripple effect. By succeeding and showcasing our achievements, we pave the way for other women, breaking stereotypes and shifting societal perceptions in the process.

To sum it up, our relationship with money is multifaceted, deeply personal, and constantly evolving. But as women charting our entrepreneurial journeys, there’s an urgent need to address, reassess, and reshape how we perceive money.

Let’s not allow outdated beliefs or past experiences to dictate our financial futures. Instead, let’s champion and support one another in rewriting our individual and collective money narratives. After all, our businesses, dreams, and impacts are worth it.

Taking Control: Your Money Relationship Checklist

Taking charge of your financial journey may seem daunting, but you can start today with these simple steps:

• Reflect on Past Beliefs: Note down any negative beliefs or memories associated with money. Awareness is the first step to change.
• Educate Yourself: Dedicate 20 minutes a day to read a finance-related article or watch an educational video.
• Start a Money Journal: Record your daily expenses and income. This will give you clarity on where your money goes.
• Set Clear Financial Goals: Whether it’s saving a particular amount or achieving a certain income, write it down.
• Engage in Positive Affirmations: Start and end your day by stating a positive money affirmation out loud.
• Seek Out a Financial Mentor or Advisor: Even just one session can offer valuable insights and direction.

Remember, the journey to financial fitness isn’t a sprint; it’s a marathon. Every step you take, no matter how small, brings you closer to a healthier relationship with money. So, grab your checklist, roll up those sleeves, and let’s get financially fit together!