Money

Here’s How Your Level Of Self Love Can Impact Your Money Mindset

By Emma Edwards
12th Apr 2021

a young man wearing a backpack sips from a drink.

Almost all of us struggle with our self-confidence at some point or another. From imposter syndrome to body hang ups, there’s always something standing in our way of stepping into our power. But what if we told you that a lack of self-love could be impacting your finances?

Yep, you read that right. Not leaning into your inner awesomeness could be messing with your money mindset and killing your financial progress at the same time. Here’s how leveling up your self-love can send your money soaring.

Better Control Of Emotional Spending Triggers

We’ve all been there. You’re doing really well, stashing some cash and building up your savings, and then life happens and in the blink of an eye you’ve lost your momentum and find yourself splurging on yet another online shopping order at 2am to cheer yourself up. This type of emotional spending can be one of the biggest thieves of financial progress.

When you level up your self-love, you’re better equipped to take control of your emotional spending triggers and put barriers in place to stop your bad days from guzzling up all your cash.

Think of it this way. If you buy a new outfit for every single occasion because it’s the only way you can feel truly confident in yourself, try separating your confidence with the actual act of handing over cash for new threads in order to break the spending cycle. The clothes are just a Band-Aid for the issues you’re experiencing underneath, so get journaling, meditating, podcasting or chatting to your mental health professional if these types of issues are causing you to overspend on emotional triggers.

Feeling More Worthy Of Financial Confidence

A common block for many of us is that ultimately, we don’t feel worthy of the financial confidence we want. These feelings of unworthiness can manifest as self-sabotage and a generally negative money mindset, which can kill your progress and momentum in sneaky little ways. When you feel less worthy, you’re more likely to subconsciously hold yourself back in everything from charging your worth in your career to taking risks that could pay off big time.

Letting Go Of Your Financial Past

Our attitude towards money is formed early in life, and can change, adapt and mold depending on how we engage with it as we get older. Often this can leave us with negative experiences with money from our childhood, which compounds into further limiting beliefs as we grow into adulthood and have to manage money in new ways. When you level up your self-love, you may find it easier to let go of your financial hang ups and limiting beliefs about what’s possible for you.

For example, if you’ve had debt in the past, you might struggle with feeling confident managing larger sums of money, feel overly risk averse, or simply be stuck with the belief that you’re ‘just bad with money’. When you feel more confident in yourself, you can accept that you have the power and ability to change your financial reality, you can start believing that more is possible for you, and not berate yourself for money mistakes you’ve made in the past, or get stuck on negative money narratives from your family or childhood experiences.

Ready to level up your self-love and kick imposter syndrome to the curb? Read this.

Image Credit: Alex Otto/Unsplash 

Emma is a finance blogger at The Broke Generation and a reformed spendaholic. She shares hot tips on saving, property, tax, career and investing for millennials who want to break the spending cycle and get financially confident.

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