Shift Your Money Mindset For Financial Freedom With These Journal Prompts
Having control over your finances, and the freedom to make choices without limits, begins with your Money Mindset. Changing the way you think about money will help improve your relationship with it. Once you improve your relationship with money, those finance tips will become more effective for you. But you must be brutally honest with yourself and dig deep into your thoughts, feelings, and experiences. If financial freedom is what you are looking for, then begin with these four journal prompts to shift your money mindset.
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Journal Prompt 1: Reflect on how you spend your money.
When you think about your finances, how do you feel? If you were to check your bank account statement right now, how would you feel? Do you find yourself repeatedly calling your utility companies to make payment arrangements? Are you over drafting your bank account regularly? If you had an unexpected emergency and needed $500, would you be able to cover it? Do your financial goals feel out of reach?
If you have answered yes to any of these questions, first off, I want you to know that you are not alone. I have answered yes to every one of these questions at some point in my life. Managing money and expenses is hard. Equally, being an adult in general is hard. But it does not have to be.
Journal Prompt 2: Think back to what you were taught about money at a young age.
Who, if anyone, sat me down and explained finances to me? From my perspective growing up, how did my parents manage money? Are there some similarities between how I manage my finances now and how my parents did growing up?
Who we are is largely shaped by how we grew up – what our families modeled for us. Understanding that point and the similarities helps us understand how we got to the place we have arrived at today. Our family influences how we manage money. For some of us, family is the core of why we want to manage it well.
Journal Prompt 3: Detail why money is important to you and why you want to change how you manage it.
“Remember your why” is a popular phrase used everywhere to motivate and encourage people. Think of it as another way of understanding yourself and your goals. Maybe you have a desire to provide for our offspring (or future offspring). This is referred to as Generational Wealth. Lots of people say that Generational Wealth is important to them. But what does the term Generational Wealth really mean? And why is it important?
Journal Prompt 4: Write down what you are willing to sacrifice in the short term to achieve your current financial goal.
Ask yourself, “What am I willing to let go of in order to achieve financial freedom? How does delayed gratification make me feel? How can I practice this on a daily basis? What areas in my life can I start saying “no” to, to get closer to financial freedom?”
One skill that is key to changing your money mindset is getting comfortable with sacrifice. In today’s day in age, it can feel impossible to accept delayed gratification. It may mean that you delete tempting shopping apps from your phone. Or you take a hiatus from social media to avoid comparing your lifestyle to highlight reels. Whatever you can do to help you avoid temptation and have tunnel vision on your financial freedom, do that. Sacrificing in the short term will lead you to long term success.
Imagine what would be possible if we changed the way we thought about, looked at, and managed our money? What if, instead of feeling anxious or avoiding reviewing our finances, we looked forward to checking them. We should look forward to learning more about different areas of money and how we can maximize them in our own lives. There are many ways to reach our financial goals instead of just dreaming about them. Financial freedom is possible. But before it starts in your wallet, it starts in your mind.
