Is money good or bad? What about people who want more money? Should people feel guilty or ashamed for pursuing more money? Throughout this podcast, we discuss ways to uplevel your life and your finances. That is why it is crucial that we confront some of the individual and societal beliefs around money.
To get started, you need to understand one key concept: money has no morals.
While you may grasp this idea on an intellectual or abstract level, it might feel almost absurd when you think about the application of it in your day-to-day life. As an individual and as a member of society, we assign so much value and meaning to money. But that is the key to understanding this financial truth. We assign it.
Money itself isn’t good or bad. Instead, it has to do with the thoughts that we attach to money. Money is a number in an account or a tool. By itself, it is neutral. When we start to think certain things about those numbers or take action using that tool, that is when the notion of good or bad comes into play.
There are three key questions to ask yourself to understand your own money thoughts:
Is the pursuit of money bad?
Can you spend money in a good or bad way?
Why is it impolite or taboo to talk about money?
Once you take the time to address these questions, you will start to see that money indeed has no morals. Once you view money and your finances through this lens, you can start to let the discomfort around money dissipate and invite more money into your life.
In this episode, we also explore:
Popular culture and its portrayal of wealth
How religious beliefs may impact our thoughts about money
A refresher on how thoughts become beliefs and why that can be so problematic
A review of the ways our thoughts and feelings shape our actions and our outcomes
More questions to ask yourself to better understand your thoughts around money
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Featured on the episode:
Get a refresher on how thoughts and feelings shape our actions and our outcomes in episode 1 here.
Take a deeper dive into creating a wealthy mindset with this blog post.
Learn more about how to manage your mindset with Wealthy Mom MD.