THE BLOG
11/26/2014 12:17 pm ET Updated Dec 06, 2017

A Meditation a Day Keeps the Money Fears Away

Do This One Thing a Day to Overcome Your Biggest Money Hangups

People develop money habits by the age of 7, according to research conducted in 2013 at Cambridge University. For adults looking to overcome bad money patterns, it can be a challenge to overcome hangups that have been ingrained over decades. Even so, it's certainly possible for those willing to put in the work to identify and change the habits that are keeping them from reaching their financial goals.

2014-11-26-bigstockBusinessman7727283.jpg

How to Identify Negative Money Patterns

Whether we know it or not, how we interact with money reflects what we value most. We earn, spend, save and give, and it all happens as a result of the unconscious money patterns we developed as a child.

The funny thing about hangups and habits is that we often don't even realize we have them. To identify the money patterns that are holding us back, we need to delve deep into the subconscious mind to discover where our money scripts originated. In the courses I lead, we do this primarily through mindfulness meditation practices, which allows us to pay attention to internal programming we hadn't noticed before. When my students open themselves to meditation, many begin to take charge of money habits that had been running on auto pilot. Which often kept them from reaching their financial goals.

One client, for example, had a deep set fear of holding onto money and it was leading her to make life choices that sabotaged her financial progress. Most notably was when she turned down a well paying job that would have boosted her income by quite a bit. She had the skills to do the job well but turned it down because of her deep set fears about success. When we delved into her money history, she found how uncomfortable it was for her to go outside of her financial comfort zone, even if doing so meant bringing home more money. So, her subconscious mind sabotaged the career opportunity.

Once the students in my courses realize how much their money fears are controlling their lives, they start to look at their experiences with money differently. It's uncanny how often those fears, once identified, begin to heal themselves. Becoming more mindful about fear and how it controls our lives is one of the many benefits that a meditation practice brings to one's life. In my practice, I've seen many positive outcomes stem from this kind of awareness.

Meditation as Cure

The payoffs that come from establishing a meditation practice are well worth the time invested, even if it isn't easy to get started. It's important to be prepared for a journey that has its ups and downs, and it may even be worth finding a support group to help you along the way. There aren't many groups that combine money mastery with meditation but if you can find one in your area, check it out. If you take the journey on your own, here are some things to keep in mind:

  1. There are many different types of meditation techniques and it helps to be patient as you try different approaches, while looking for those that help you the most. These techniques can overlap and intermingle but discovering your preferred style can make the experience more enjoyable and increase your chances of success.
  2. Don't be surprised to learn how money is connected to many of your personal opinions, judgements and expectations about life and your deepest fears. When you become more mindful about money, you learn a great deal about yourself and also your ability to be creative and intentional, rather than reactionary. To identify your most powerful intentions, you can set aside time to explore ways you can adapt your habits so they create positive financial outcomes.
  3. Establishing your money goals is important but it's only half the equation. Once you've identified where you want to go with your finances, you'll want to create a roadmap to help you get there. Consider an accountability buddy or creating a support group of like minded friends.

For those looking to do it themselves, there are countless meditation apps available online. If you want to work with a group, consider checking out one of my online workshops. Either way, money habits can and will be changed and by applying yourself to this practice mindfully, you will definitely reach your financial goals.

Photo rights licensed from Bigstockphoto.com/EastWestImaging