How to Have a Healthy Relationship With Money

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Everyone has a different expectations or desires of how money will function in their life. Some people place it on an alter and give it all their time to obtaining it. Others wish it didn’t exist and don’t want to devote that much time to it. Many are in between, seeing its value but not sure the best way to manage it. 

Below I discuss how 3 categories of people don't have a healthy relationship with. I also prescribe steps to help each different person have a healthier relationship with their money. You may see yourself in one of the categories.  Or you may see that you act different ways depending on how much money you have. The categories are only their to show different ways to get to the same place, a healthy, balanced relationship with money. 

What Does A healthy Relationship With Money Look Like 

A healthy relationship with money means that you understand its value. You are willing to make sacrifices to save it, or get more of it, but within the healthy perspective of knowing that the use is for a fulfilling, happy life. It is not meant to never be spent or to all be spent. Your relationships with individuals and knowing the value of your own time will heavily compete against the pull for money. 

Maintaining a balanced view of where it will rank in your life, will be critical to maintaining that perspective. Money is not more important than healthy, good relationships. Nor should you time that you spend earning, spending, documenting money, reflect that your time is only valuable when making money. This is untrue. 

Remember that money is a source of energy, like food to the body. It is not necessary to have an overabundance to be healthy and happy. Money does not equate to happiness, so make a life geared towards daily joys. 

3 Types of Relationships With Money 

1. The Money Chaser’s main focus is that money is everything. Money is the ultimate power, and deserves the most respect. You constantly check accounts, spending habits, and continually put money at the top of your priorities.

2. The Money Wonderer doesn’t know what todo with their money. They budget sometimes. Over spend often. Save if somehow there is extra money laying around. They haven’t developed a working stable relationship with money. 

3. The Money Hater, completely ignores the problem of not understanding money. Spends without a budget or a plan. Doesn’t have any long term thinking for their money. 

How to help each category of people  

The goal for the Money Chaser's is for them to find peace with money. Money Chaser's need to recreate a healthy idea of money and were it ranks in their priorities. The goal for them is to let go of the idolizing of money and relinquish some control. They have great plans for their money and need to have faith in themselves to see them through.  

The Money Wonderer’s need to have time to educate themselves on money. They need to learn how a good budget works, and what todo if they have extra money. The goal is for them to learn how to save the right way and think about their future financial goals. 

The Money Hater's need to learn about money like the Money Wonderer, but, also needs to understand that it has value and a place. They need to learn to budget and spend within their means. They will need to learn about saving for a retirement, but, also for a emergencies and when life goes side ways, which will hopefully show the value of money. 

How to Build Healthy routines 

1. Money Chasers 


Lay out a plan for the year. This can include expectations for raises, big spending opportunities and majoring savings ventures. Schedule meetings with banks, financial advisors, and investment accountants so they know your plans and expectations. They will be able to help guide you and assist you. 


Set your monthly budget and goals one time a month. 


Breakdown the monthly budget to be applied weekly. Know how much cash you have on hand, and spending power on your cards. Each week you will check in with you budget and goals to layout the following weeks expenses. 


You do NOTHING. You are so fixated on money you will miss the present moment. Trust me. You made a plan and can stick to it for a week. You don’t have to check every account, every receipt, every day. Nor, do you have to be so tight with your money that you miss out on having fun. 

You are smart and capable of handling your money. Have a little faith in yourself that you can get through the week. 

What If Things Go Side Ways

Look you are the type of person who already has a lot of knowledge to work with. Have faith that when hiccups arise you will be able to figure it out. Know that you don’t have to go back to obsessing over money to still live the life you want. You can still be present, have fun, and spend some while managing the hiccups of life. 

2. Money Wonderer  


I think yearly goals are good for everyone, so you should make one. Your goals don’t have to include everything like raises, savings, investments, paying down debt. Just have one or two. Maybe you will pay off $5000 in debt and save $1500. Keep it simple. 


You will break down your goals so that there are action steps for each month that can be taken.  Something you should challenge yourself to do is to learn something new about saving or credit card debt. Check out my free Ultimate Resource Guide for Success, there is a section on Finances in there. There are 4 books, 6 podcasts, and other resources that I have collected, all on finances.

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As you grow in consistency and knowledge continue to tweak and make greater goals for each month. 


Check in that you are on track with your monthly goals and staying within your budget. 

What To Do If Things Goes Side Ways  

Gut instinct is probably to just go back to the scrabble of chaos and craziness. But, you are learning and need to start using those new found resources to help you maintain the healthy relationship with your finances. It takes time to maintain and see the benefits. Sticking to the plan is your best option. If you have to readjust the plan that is fine. But keep working on it. 

When you build up savings, and get in the habit of paying off debt you will have a lot more to work with. You will realize there is security in having savings and having no credit card debt. 

3. Money Hater


Because you have no money awareness, you will have to start being more aware on a daily basis. Start with daily check ins with how much you are spending and on what. It can be very challenging to start assessing long term goals when you haven’t been following where your money is going. So, you start with a daily plan of being aware of where your money is going.

Continuously track your daily spending. Know when your bills need to be paid. Figure out how much you spend on food in a week and month, and if that amount is necessary. Figure out where your money goes after every paycheck. 

The purpose of this is to be more aware of your spending habits and acknowledge the importance of money. 


Once you have tracked your daily spending for about 4 to 6 weeks. Start taking a step back and creating a weekly budget, that you follow. Make a plan and look back on your previous documented spending. Plan for the nights out, self-care, and the unexpected. But, also try to start bringing your lunch, carpooling, and limiting the amount you drink when you are out. 


Okay, after managing your weekly budget successful for 4 weeks, move to assess your finances on a monthly basis. Budget for the whole month. While, also checking in each week. You can stop tracking your daily spending habits as you track your weekly spending habits. Pay bills first. Put money aside for self-care. Then save. Keep planning, tracking, and understanding where you money goes. 


After spending a couple of months creating a working monthly budget. Start to look at the year and make goals for the year ahead. Goals should be for saving and paying off debt. 

Maintaining a healthy relationship with money can be stressful and challenging. It is easy to fall into old habits, whether that was spending frivolously or saving every penny. Life is meant to be enjoyed, so use your money to enjoy it responsibly. Create security for yourself with savings and long goals. In the comments below, let me know how you maintain a healthy relationship with money.