Tips for getting mindful with your money

This month our Mastermind for WIBN members focused on the challenging topic of money. We tackled the challenges around cash flow and our mindset around money. Our mentor was Karen McAllister and her presentation and guidance led to fascinating discoveries.

Money and emotion are very tightly woven. We all feel it but I bet you never stopped to dig into the “why”?

  • Why do we have a stirring of strong feelings when money is a topic?
  • Why do we spend the way we do?
  • Why do we make the same choices on repeat (autopilot)?

We establish our money mindset from the ages of two to twelve years old. Experiences with money impact self-worth.

“Money is a tool not a reflection”…

Money Mindfulness Coach,  Karen McAllister has expertise in evaluating our money personas which can be vastly different from our personality. Our mindset around money is instinctive. With Karen’s guidance we can begin to look at the patterns we create and evaluate what drives our decisions. Just because we have a good income and a savings account doesn’t mean we have a healthy mindset with money. Karen who is a WIBN member and our Money Mentor uses her expertise to guide us to make better decisions, and lessen the emotional weight around money decisions.

As women in business, it’s very important to understand our money mindset. There are vital, practical applications.

Ask yourself some critical questions…

  • Where do you prosper?

You have a great structure with saving money but now you need ‘spend to grow’:

  • When should you outsource?

You have great vision and marketing but struggle to stick to a budget.

  • Is your mindset beneficial for the job you are performing at work?

Finding funding for projects can cause strong emotional responses that can hold us back.

Avoiding the emotional aspects of money decisions leads to poor decisions and avoidance strategies don’t pan out. Put aside time each week in your schedule to have thoughtful reflection on your finances and financial planning.

Check out The Mindful Money Coach to untangle your money mindset and thrive on the job and at home.

Resources:  

Karen’s Recommended Reads

Toxic Money Myths with Lynne Twist

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