Money Values: Why You Need Them More Than Ever
Major truth bomb coming your way...are you ready?
The only way to become wealthy is if you have a healthy relationship with money.
Does this mean you have to have a lot of money from the get-go? Hell no.
Does this mean you’ll have to learn how to get smart with your money and have strong financial values? Yup.
Confused? Read on.
Your values are the behaviors and beliefs that you consider to be “right” in the ways they exist. Similarly, financial values are what you choose to believe about money.
They’re a combination of internal and external factors that influence your feelings about your personal finances. This isn’t to say that those who aren’t rich don’t have strong financial values. Even folks without a lot of money can still have significant discipline, organization, and an overall positive relationship with their personal finances.
Your values may come from...
...your financial knowledge. This is first and foremost. How else can you maximize your decisions about money if you don’t make a commitment to learn about money? Of course, this may currently be out of your control, as your upbringing may have frowned upon talking about finances at the dinner table. Which leads us to:
...past experiences. It’s important to remember that your financial values are initially stemmed from your childhood preconceptions and experiences about money.
...your personality. Are you a spender or a saver? Are you an emotional spender, or an anxious saver? Regardless of where your emotions stem from as you make conscious financial decisions, your level of discipline while saving and spending will be the key factor to dominating your money management.
I want you to think about the last time you were insanely fulfilled with life. What were you doing? Who were you with? Where were you? Most importantly, what desire did you satisfy? Upon answering these questions, you may already be thinking of some very evident financial values you’ve been exercising.
Perhaps you felt most fulfilled when you were finally able to afford the car you’ve been saving up for. You satisfied that material desire. What fulfilled you? The hard work and dedication it took to earn enough money to buy the car. The resisting of mindless spending and the more careful thinking about smaller purchases. All of these actions leading up to buying the car are FINANCIAL VALUES.
Here are some questions to ask yourself as you figure out what your financial values are.
Are my money values in alignment with my goals?
Do my money values lead me to financial freedom?
Are my money values sustainable for the long term geared towards instant gratification?
Are my money values heavily influenced by my family or friends?
Do my money values make me happy?
Strong financial values means you know what you want in your life, you have actionable steps to reach your money goals, and you’re willing to make necessary sacrifices along the way. This pathway is original and unique to you. No one has the exact same values. It demonstrates integrity when one’s values coexist with their actions and choices. Likewise, when one goes against their values, it may trigger dissatisfaction or immense doubt.
To ensure that you don’t stray away from your money values, it may be helpful to create a vision board of everything that’s important to you from a material and financial standpoint. This would also be a great practice if you are still figuring out your own values. Additionally, knowing where your preconceived ideas about money come from and your resulting emotions that you feel towards money will be what drives your solutions for a sustainable financial future.
To take strong financial action means you first must have strong financial values. However, to “want” these values simply isn’t enough to make it a reality. Intentional action must always follow desire.
How will you be taking action today? (FYI: we have an app for that.)