Self Image Series Part 3: Financial Self Image

Our self identity as it relates to our finances is more than just how much we make for a living or how much we have in our 401k. Society puts a high value on how much we make in terms of our financial self-identity; but that is not the only means in which we self-identify with our finances. How we view our money means just as much (if not more) than what we actually make for a living. In other words, a holistic view of money and the mindset that comes with it.

The mindset one has with money is a direct reflection on their self-image when it comes to money. How is that you ask? Well, when we view money, it is likely in one of two categories: a mindset of scarcity or a mindset of abundance.

If we have a scarcity mindset, we are more likely to have the view that there is never enough money to go around. We become less generous with our money, and always seem to fall victim to the ongoing tally of bills, debts, and our own spending habits. Our self-identity, therefore, would not be positive in terms of our relationship with our finances.

If however, we have an abundance mindset, we are more likely to view money as a flowing resource. We are likely to be confident & positive in our ability to obtain money and make a responsible living from it . Our generosity with money would likely be high, which attracts a more generous relationship with money as a whole. In other words, our self-identity with our finances would likely be more positive.

So what can you do about changing your relationship with your finances? First, understand what you can control and cannot control. You have to accept there will always be external circumstances that you do not have control over; inflation, unexpected financial emergencies, and other external factors are typically things we do not have control over.

Second, what we can control is our financial mindset. Taking on an abundance mindset takes practice, and releasing the fears of not being in control is a good first step. From there, shifting your mindset from scarcity to abundance takes trust in yourself to bring in income and spend it responsibility. You will have to trust that the world has enough ways to bring in money for yourself & your family. Trust is a big component to having an abundance mindset, so it will take practice.

Finally, be generous with your money. Once you start building trust, you can then see how giving back might actually be possible versus thinking you did not make enough to give back. Be generous with your money, and money will be generous with you. It builds character within yourself to show that you can make an investment into others - be it a charity or direct contribution to someone in need - and expect nothing in return. That is the greatest test of how much you have grown in relationship with your finances!

That, my friends, is why our relationship with your finances is so much more than what we have in our bank accounts. Hopefully this blog encourages you to make a change in your relationship with money for the better.