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MVCU, finances, money, spending
Home / Tools / Having a Healthy Relationship with your Finances
Having a Healthy Relationship with your Finances on 8/29/2022

Having a Healthy Relationship with your Finances

Ah, February – the month where love is in the air and, for us single folk, it is the month where we get amazing deals on post-Valentine’s Day chocolates. In February, relationships are celebrated with romantic dinners and roses, however, there is an important relationship that often goes uncelebrated – your relationship with yourself! Self-care is being mindful of your own needs to deal with the stress we encounter in our daily lives! Whereas most people focus on their physical, emotional, social and spiritual needs – self-care should include our financial needs, too!

What does financial self-care mean, then? Financial self-care means that you take the time to focus on your finances in order to create healthier money habits! These healthier habits lead to greater financial health and overall wellbeing. When you first dive into your financial wellness journey, it can be daunting, because, let’s be honest, managing money is not easy! If the concept of financial self-care is new to you, fear not! Feeling confident in your management of money is not impossible but it will take patience and the power to stick with it!
There are so many ways to help maintain your financial well-being, and they’re not all boring and scary! Here are my top tips to help kickstart your financial self-care journey:

#1 Figure out how you feel about money

When you think of the word “money” – what words pop into your head? If you thought of words, such as “fear,” “debt,” or “confusion,” then it is time to discover where these thoughts are coming from. In a previous blog, I spoke about how I’ve started to mimic my mom’s financial beliefs and behaviors as I’ve aged into adulthood. Essentially, I was already limiting my ability to make money because I had accepted my mom’s thoughts: “I’ve never had money growing up so money doesn’t matter to me now.” Recognizing these connections is a great first step into developing new financial habits. 

#2 Face your spending habits

Alright, this one might be scary! Personally, I avoid looking at my bank account after I know I went crazy shopping over a weekend. However, avoiding my bank account won’t make my expenses go away. For this tip, write down all of the money you have coming in (paycheck, social security, etc.) and then track your spending! Starting with the fixed payments (utilities, mortgage, etc.) and then look at your last bank statement to see where the rest of your money is going. Take a look at your debts and savings, too! Really get the full view of your financial picture to help you see areas for improvement and where to start with a financial spending plan.

#3 Buy what brings you happiness!

I say this with caution because this does not mean to go to the Lamborghini dealership and purchase a car ten times out of your price range – I still think it’s important to cut down on unnecessary spending when possible! However, give yourself some grace. So, you want a Starbucks coffee? Buy the dang coffee. Maybe we don’t buy a coffee every day, but every once in a while is fine! If you restrict yourself too much then the more miserable you’re going to feel towards your finances. You order that Grande Mocha Latte and enjoy it!

“Happiness” also doesn’t just translate to a material item. Happiness could mean buying an experience! Experiences can increase your wellbeing and the wellbeing of others you share them with! We are also less likely to experience buyer’s remorse because an experience doesn’t lose its value over time. They create timeless memories, instead!

#4 Stop comparing yourself to others

With finances, people are always comparing themselves to others. Who has the nicer house? Who is wearing the pricier jewelry or the better brand of clothing? Often, we even compare our income to others and only feel satisfied if our own is relatively higher. This mentality isn’t limited to finances. Humans have a tendency to compare everything to what others have. Let’s say you just bought yourself a brand new car. It isn’t just any car but your dream car! Only, your neighbor just pulled in with the exact same one, except theirs has a sunroof and yours doesn’t. Initially, we may be elated with our purchase but seeing our neighbor’s sunroof – we think theirs is better. Why can’t we just be happy with our car?! Comparing ourselves to others is a never ending cycle of dissatisfaction.

In order to combat this thought-process, set aside some time to reflect upon all of your financial achievements – without comparing to other people. Focus on how you’ve improved or grown without worrying about any blips that occurred along the way. Maybe you got a raise at work or saved an extra $50 each month by using coupons at the grocery store. Whatever it is, acknowledge all that you’ve done – big or small.


As cheesy as it sounds, the best investment we can make in life is to invest in ourselves. While this can include a consistent workout regime, drinking enough water and a fabulous skin care routine, it also means to pay attention to your finances! So, this Valentine’s Day, let’s all make a commitment to show ourselves some love and give the relationship we have with our finances the attention it deserves.

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Category: Think Pink: A Millennial Perspective



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