How are you 'doing' and 'being' with money? If your relationship with money is something you would like to improve, this episode is for you. The first step to changing your relationship with money always starts with awareness. Today I'm going to teach you how to do a little exercise that will help you with this.
In this episode you will learn:
- How to deepen your relationship with money
- How to increase your awareness about your relationship with money
- How to identify what you are doing with money
- How to identify how you are being with money
- About your money behaviour and if it reflects your values
You can listen to the episode above or read the unedited transcript below.
Meaghan Smith 00:20
Hello, everybody, and welcome to another episode of the Money Mindful Podcast. I am your host Meaghan Jean Smith. I am a money mindset and life coach for women. I help women get out of their own way by teaching them how to manage their mind so they can create the extraordinary life they want to live on purpose. Alrighty, how are you doing and being with money? That is what I am going to work with you today on the podcast, I'm actually going to teach you how to do a little exercise. But first, I wanted to let you know that tonight, I am running a an online workshop. And I'm also doing some coaching through the Life Coach University. It is a scarcity versus abundance mindset workshop and you are invited. If you've ever felt like you don't have enough time, money or confidence this workshop is for you. And I'm going to teach you three simple steps of how to move out of scarcity thinking, first of all, I'm going to teach you what scarcity thinking is and then how to move out of it.
Meaghan Smith 01:35
I run this workshop last month and it's back by popular demand I had my European friends ask please can you do it a different time. So it's not late at night for us. So that is what I'm doing. It is at 8pm tonight, that's Australian Eastern Standard Time, April 13. So this is the day that the podcast releases. That is for my American friends that's 5am Central Time 6am Eastern Daylight Time. That's 12 noon. For those of you in Sweden and 11am. If you are in London, if you would like to participate in the online workshop, you need to go to the link in my bio on Instagram or go to the Life Coach University.com website and register. There will be a link to that in the show notes for this podcast episode. Once you have registered, you can join in tonight for the workshop and I will be making sure I allow time to coach anyone who would like coaching at the end of the workshop on your mindset. scarcity mindset. So that is going to be super fun. And that is happening tonight. Go and register and join me for this free workshop. Alright, let's get into it. Whenever you want to change something to do with money, or your life or your mindset, the very first port of call always, always always is awareness. Because you can't change something that you're not actually aware of. If you don't even know the thoughts that you're thinking in your head, you can't change them, how can you possibly if you're unaware of them if they're unintentional. So I want to teach you a really simple exercise today to bring your awareness to the forefront around your money mindset and develop your relationship with money like increase your awareness around money. And if you if you want to have a healthy, clean relationship with money, you want to find out what is your relationship right now?
Meaghan Smith 04:09
Right How are you treating money? How are you being with money? What are you doing with money, and this exercise is an exercise I learned from Lynne Twist who is the author of the soul of money that's actually the book we read in Book Club last month. She is an incredible teacher when it comes to money. So I want to share this exercise with you. I'm sort of adapting it. It's not exactly the same as what she does, but I think this is similar enough so I definitely need to credit her. This is who I learned this from. So the first thing that you need to do is if you want to develop your relationship with money is have a look at how you are being with money and what you are doing with money. so this is this is what i want you to do this week okay grab a notepad and a pen and just have it handy and over the week I want you to get really curious and just be the watcher be observant of what you do with money and how you're being with money so let me give you some examples so first first of all what are you doing with money so do you pay your bills on time or do you pay them late? alright are you paying off debt on investments or do you have large amounts of consumer debt that you're avoiding or do you have debt that you're paying off regularly and you're really conscious of it do you have money that you are spending on investments are you holding space for money like do you have money in your bank accounts or do you spend all your money do you spend more money than you earn do you regularly regularly save or do you not save money? Do you donate to causes that you care about so that's what I mean by what are you doing with money do you keep money in your wallet or do you never have any money in your wallet now this is an exercise simply to create awareness about what you are doing with money because if you are doing things with money that you've actually after doing this exercise you realise
Meaghan Smith 06:34
huh actually i just realised i've don't save any money ever and I spend more than I earn i'd like to change that right but if you don't even create the space to be aware of what you're currently creating it's very hard to change so that's the first thing the next thing is how are you being with money and what I mean by that is what are your feelings about money like are you embarrassed about the amount of money that you have do you feel shame about your money situation do you feel shame talking about money are you really confident with your money? Do you talk about your money freely are you stingy with money or a really generous do you have are you connected with your money do you feel like you have a good relationship with your money or do you avoid your money are you disconnected from your money? right are you open about your knowledge about it do you talk about it with friends or do you get worried about not having enough are you confident in investing your money and your feelings about that. Do you think that you never have enough so that's like how you're being it's sort of more the feelings and the way yeah the way you think and feel about money so it's just two different areas how you're being with money and what you're doing with money all you need to do this week is just notice notice how you're being and notice what you're doing and keep a little notepad handy or do it in your phone and just jot it down as you notice what you do throughout the week like when your bills come in if you get a bill you get an email with your latest electricity bill do you ignore it or do you pay it straightaway just create the awareness by gathering data so you're so you're watching yourself this week you're you're seeing what you do you're gathering the information and the reason why you do this is you you just naturally just from doing this doing this activity this exercise you are establishing you are deepening your relationship with money because you're actually looking at what you do and how you are with money and that is an amazing thing to do no matter where you where you are on the scale of what you think your relationship is with money if you think you have a bad relationship or a good relationship or a neutral relationship.
Meaghan Smith 09:24
I found this exercise so so helpful because what it allowed me to do is I saw that there's a whole heap of things that I’m doing with money that I really love and that I think are really positive and have a positive impact on my life and then there was other areas where i was like hmm this is something I want to work on and it created the space for me to see that so that is my intention with sharing this with you today for you to be able to create the space around what you're doing with money and create more awareness. and deepen your relationship with money so that you have a good relationship that you want to be in and the final little point that i want to add here once you've done this activity over the week is I want you to have a look at what you're being and doing with money and ask yourself is this in line with the way that I want to live my life is this in line with my values is this in line with the person that I want to be is this in line with how i want to show up in the world is this in line with the world that I want to have these are really good questions to ask yourself because if it's not, It gives you a reason to to make change to change your relationship with money if you think that it's not in alignment with how you want to be in the world and your values okay I hope that helps if if this exercise is of interest to you go and check out Lynne Twist go and get her book the soul of money she is a magnificent teacher when it comes to looking at money in a holistic way and your connection with money your relationship with money and how that affects the world that you live in it's one of my favourite money books we did it last month in book club the recordings of book club are still on the Money Mindful website you can go and check them out under the bookclub tab that's w w dot money mindful.com.au and while you're there if you are interested in taking this work further with me and learning about how to manage your mind and creating the life that you want go ahead and book a consult it's really easy to do and you can do it on the website okay until I speak with you again have a beautiful week bye bye