5 Steps to Heal Your Relationship with Money

5 Steps to Heal Your Relationship with Money - blog post by Patti Fagan, Ramsey Solutions Master Financial Coach

As women entrepreneurs, we often juggle multiple roles: business owners, service providers, content creators, marketing managers, and more. While doing our best to keep up with these roles, it’s not uncommon to deal with feelings of inadequacy around money. But it’s time to heal our relationship with money so we can be the rock star entrepreneurs God created us to be.

“It’s time to forgive ourselves for believing that we are ‘bad with money,’ because it’s not our fault. We need to heal our relationship with money so that we can stop underearning and become millionaires.”
Rachel Rodgers, Author of We Should All Be Millionaires

Understanding the Root of Money Problems

The first step in healing our relationship with money is understanding why we associate negative feelings with it. Social conditioning, lack of financial education, or past experiences (especially back to childhood) can shape our views on money. But once you can recognize these influences, you’re able to move forward.

5 Steps to Heal Your Relationship with Money

Step 1: Embrace Financial Literacy

This is so important, ladies. You’ve heard me say this before: KNOWLEDGE IS POWER. Invest time in learning about personal finance, investments, retirement planning, and money management. You don’t have to become an expert overnight. Just be eager to join the conversation. Start with the basics and gradually build your understanding. There are hundreds of articles about women, money, and building wealth right here on my site. Bookmark this page and create a ritual of reading just one article each day with your morning coffee. The five minutes it will take to read an article will be enough to gradually increase your financial education.

Step 2: Reframe Your Money Mindset

Replace negative beliefs with positive affirmations. Instead of saying, “I’m bad with money,” tell yourself, “I am learning to manage money more effectively every day and I’m enjoying it!” I know it sounds too simple to make a difference. But there is power in the consistent use of affirmations for reframing your money mindset. Here is a list of 20 Money Affirmations to get you started.

Step 3: Practice Daily Gratitude

One of the things I have witnessed as a financial coach who has worked with people of all income levels is that people who have a higher net worth demonstrate an attitude of gratitude toward money. This article talks about the power of gratitude combined with journaling.

Step 4: Set Clear Financial Goals

Define what financial success would look like for you. Is it owning a home, building your dream business, or retiring early? Break these goals down into achievable steps to maintain focus and motivation. Create a vision board and add your goals to cultivate the inspiration you need to go after your dreams and goals. Here’s a great article on what to do to reach your money goals.

Step 5: Show Yourself Compassion

The most powerful thing you can do to heal your relationship with money is to show yourself compassion. Give yourself a pat on the back for doing the best you know how to do. Even if you’ve made money mistakes in the past, you deserve forgiveness. Many times, women don’t realize how harsh they are with themselves around money. When coaching women over the years, I have found they tend to criticize themselves too harshly. They create stories about being a bad person because they have debt and over-spend or because they feel clueless about money. Their inner critic keeps them stuck.

Instead, we need to get to a place of forgiveness for the past money mistakes we’ve made. When we can forgive ourselves for our past financial blunders, it empowers us. When we feel empowered, we become aware of choices that we were not aware of before. We become aware of money behaviors so that the next time we feel compelled to spend money mindlessly, for example, we can be at choice, which in turn breaks the negative cycle of our money story.

The good news is that self-compassion and forgiving yourself for unwanted financial behavior allows you to rewrite negative patterns and heal your relationship with money. As Rachel Rodgers, author of We Should All Be Millionaires reminds us: “We need to heal our relationship with money so that we can stop underearning and become millionaires.”


Take one baby step today. Which one of the above 5 steps to heal your relationship with money can you put into practice? Creating the wealth you deserve is completely within your reach. You just need to take the first step.

More Money Mindset Articles:

5 Steps to Heal Your Relationship with Money

20 Money Affirmations to Increase Your Finances

20 Biblical Affirmations for Financial Success

30 Affirmations for a Healthy Relationship with Money

Healing Money Shame

Leave a Reply

Your email address will not be published. Required fields are marked *