Regardless of whether you have a high salary or you’re killin’ it paying all your bills on time, it doesn’t necessarily mean that you have a healthy relationship with your money. What really matters is your money mindset and how you use your money to better your life going forward.

Many people seem financially successful on the outside with their fancy ride, custom-built home and designer shoes, yet they’re up to their eyeballs in debt. American culture has always identified material possessions with success and has really lagged in promoting how to use money in a healthy way.

When you have an unhealthy money mindset, it’s going to lead you down the path of making bad financial decisions time and time again. When you have a positive money mindset, the opposite is true.

Here are some warning signs that you have an unhealthy relationship with money:

You refuse to talk about money or talk about it negatively.

I get it! Money is a taboo topic and if it is a constant stressor in your life, your relationships, or your marriage, why would you want to talk about it? Not being able to talk about money or talking about money in a negative manner, saying things like “there is never enough,” or “money is evil,” is a sign of an unhealthy relationship with money. When you have a positive relationship with money, the topic is no longer a point of contention and can be discussed as freely as your other relationships.

You constantly worry about not having enough money.

When you have this idea of never having enough to do everything you want to do, you have what is called a scarcity relationship with money. This is all about mindset and can create many roadblocks to reaching true financial success. When you live as though money is abundant, when there is more than enough to go around for everyone, you will begin to seek out more opportunities for income and growth.

You don’t turn down social invites even though you can’t afford a night out.

Most commonly known as FOMO, or Fear of Missing Out, we all enjoy a chance to catch up with our friends and don’t want to miss out on the latest happenings. But having a calendar full of social events can be detrimental to your finances. If you accept every invitation to dine out, go on vacations, or go out every weekend when you really can’t afford it, it’s time to reevaluate your priorities.

You have a lot of credit card debt.

If you’re carrying a lot of consumer debt, it’s a clear sign that your relationship with money needs some work. Having a lot of credit debt or other high-interest debt makes it very difficult to save any money because most anything that is saved is offset by the expense you’re paying in interest charges. Instead of spending money carelessly or in some cases frivolously, creating a positive relationship with money means you know exactly how much you can spend on fun every month. This can be accomplished by depositing a certain amount in an account specifically set aside for spending or using the envelope system.

You make excuses.

If you find yourself constantly making the same bad financial decisions over and over again, without any intentions to improve your bad habits, this is a clear sign of an unhealthy relationship with money. Many of us struggle with the mindset of “well, this is how my parents always handled money,” or “this is just how it is, I’ll never be good with money.” On the flip side, when you have the mindset that you can improve your situation through a change in your own behavior and a little education, you’re already on the right track to improving your relationship with your money.

Money is nothing more than a tool that helps us live in this world with improvements along the way. When you are using money in a way that helps you accomplish your goals and supports your lifestyle, that is the healthy relationship with money that we should all be striving for. If you are instead idolizing money to buy the things that don’t necessarily align with your priorities, such as buying the fancy car or the custom-built home when all you really want to do is travel, something is wrong. If you find yourself making these unhealthy money moves, schedule a complimentary consultation with me so we can talk about the tools we use to help you change your mindset with money.

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