When I tell people I’m a financial coach I hear “oh I’m terrible with money,” or “I’m pretty good but a sucker for sales”. These casual remarks may seem harmless, but they can impact our behaviour without us even realising it.
Here are some steps to see what label you might be putting on yourself around money and some ideas about how to flip it to a positive if it isn’t serving you.
Step 1: Self-Reflection
Take a quiet moment, grab a journal or open a new note on your phone, and jot down phrases or labels you’ve used or thought about in relation to your money habits. They can be things like “big spender,” “frugal,” or even “clueless about investing.”
Step 2: Trace where this comes from
Ask yourself where these labels came from. Have they come from your actual experiences, or are they inherited beliefs, maybe from family or society?
Step 3: Assess the Impact
Reflect on how these labels have influenced your spending or saving behaviours. Have they limited you or led you into decisions you later regretted?
Shake off limiting financial labels
If you’ve identified a negative label why not replace it with an empowering one for a week. For instance, instead of calling yourself a “shopaholic,” try “mindful consumer.” Notice how this shifts your perspective and behaviour when making financial choices.
The Power of Affirmations
Start each day by saying a positive financial affirmation. These can be as simple as “I am in control of my financial destiny” or “I make choices that build my wealth.”
Embrace Financial Literacy
The best tool against limiting labels is knowledge. Equip yourself with financial knowledge to make better decisions. Consider talking to a financial coach (hello hello), reading up on investments, or journalling to check in with your own relationship with money. The more you know, the less you’ll default to labels that don’t serve you.
Unpacking and understanding the financial labels you carry is a great step towards mindful spending and wealth building. Let me know how you get on.
I coach high achieving women to gain financial clarity so they can live well today while building wealth sustainably for the future. For ways to work with me click here.