Love is in the air. It’s almost Valentine’s Day and Cupid is out on the prowl. Maybe you are looking for love, maybe you are already in love, but have you thought about your relationship with your money? Finding out what defines your relationship with your money can help you figure out how to work to make your love with your money grow, and maybe get a little help from Cupid.
Are You Single?
A single and swinging relationship with money is characterized by living a carefree life with money. You are not tied down to a budget, not planning for a long term future with your money, and just living in the moment. It can be fun to spend as you choose, let the money slip through your fingers, and focus on trying new things with your money like food, travel, and gifts. All that fun and carefree spending can be thrilling and exciting, but after a while the lack of consistency can lead to you (and your savings account) feeling unfulfilled. Living paycheck to paycheck, living only in today with no plan for tomorrow might seem freeing, but you may find that you want some consistency in coming home to the same money you had last month. Maybe you find yourself yearning for something more substantial. If that be the case, focus on a little future planning without a long term commitment and work to build up a small rainy day savings account. That way you can enjoy your carefree, single lifestyle with money but don’t get too far in the dumps when your money eventually leaves because you have a back up plan.
Are You Married?
A marriage to your money means commitment, planning, long term goals, sharing, and yes, a budget or spending plan. Making a commitment to your financial future means that you have sat down and made the decision to set aside some of that carefree spending lifestyle of your single years and traded it in for the comfortable commitment of a spending plan. Knowing how you intend to spend your income to ensure your bills are paid, needs are met, long term savings goals are reached, and some fun and new experiences are added in sometimes to keep the spice alive. Setting aside some of your wants and needs to compromise for the greater familial good is a hallmark of marriage, and the same is true in your marriage to your money. That strength of commitment to a financial goal will make you feel more secure and like you are with money than without it. You are no longer scared of your relationship with money and can feel comfortable in your knowledge and feelings about money, and now see money as a resource that makes your life better and more enriched.
Are You Divorced?
Did you get burned badly and now are newly divorced from money, looking to change and learn from your previous money missteps? Are you over dealing with money and have given up on finding a workable relationship with it? Maybe you took on too much debt in a prior money relationship, got in way over your head, and are now kicking yourself for your past poor choices? Maybe you thought you would strike it rich in the market and excitedly sunk all your savings into a new money relationship investment deal only to find that it was a sinking ship and you ended up penniless and depressed? It’s alright. You don’t have to feel that way forever. Throw yourself a divorce party, break up with your old money habits once and for all, and move on to a brighter and better future! There’s no need to beat yourself up for your past financial transgressions. Change is always possible. There is so much to learn about how to set up a successful money relationship. Avail yourself of the guidance of a professional financial advisor who can hold your hand, help you unpack your past money mistakes, take control of your money, and help you chart a new course to success.
Are You Widowed?
Is your relationship with money so sad and painful that you hide from it? Is money dead to you? Does it seem that it caused all kinds of problems in your life and you wish you never had a single dollar again? Or maybe the happy times with money all seem in the past and you think you are destined to be destitute from here on out? If you are hiding from your money, afraid to check your bank account balance, afraid to spend a single dollar, and afraid that it never will change, there is hope. There can be rebirth after death and cupid can still come around and hit you with his arrow. No matter how sad or scary your situation may seem, you can go through the grieving process with your money. Eventually you hit acceptance and can move on with your financial life. You won’t ever forget what you went through, but you can use that experience to help improve and mold your future relationship with money. Work with a trusted friend or financial advisor to help you take those small baby steps back toward trust and openness with money, and over time you will be able to step out of the darkness and into the financial light.
Evaluating your money relationship can help you figure out where you are and where you want to be. We all have relationship problems, and your money relationship is no exception. Determining what relationship you are in currently and what relationship you want to be in eventually can help you figure out what steps you need to take to get there. Getting yourself into the best possible shape you can to get struck by Cupid’s arrow helps set you up for success. Just because you have made mistakes in the past or are bored with where you are in the present doesn’t mean you are stuck there. You can change your relationship with money for the better!
