Free Coaching Lesson

Money Mindfulness: How your thoughts and feelings affect your decisions

Coach: Brook Montagna
Mindful Life Coaching March, 2007

When was the last time you felt worried (or freaked out) about money? Was it when you lost a business deal? Was it in response to an unexpected car repair or health expense? Or maybe you’ve been worried even though money is rolling in, because you are afraid it won’t last. Are you waiting for the proverbial “other shoe” to drop?

Other than love, there’s probably never been a topic so emotionally charged as money. For many of us, the emotional ups and downs seem to happen automatically, even though we try to stay calm. At an early age, we were programmed to believe that love and money are scarce, hard to attain, but also critical to survival, especially in this society. The early programming is all about perceptions, ways of thinking and believing, with much of it programmed into the subconscious, out of our normal conscious awareness. Like software programs, these beliefs operate in the background, affecting our thoughts, emotions and behaviors. Some are helpful and some are not.

Looking at your bank statement may trigger unhelpful beliefs like, “I have to work very hard to make any money,” or “No matter how much money I make, I never have enough” which tend to create negative emotions. The emotion that can be generated from our subconscious thoughts about money is usually some derivative of fear – worry, doubt, shame, blame, envy, greed, or even despair. These negative emotions are not necessarily a problem, except that they can be so unpleasant, they impact decisions and behavior. Here’s how:

Avoidance – In trying not to feel a negative emotion, you avoid looking at your financial numbers so you don’t have to feel the pain of fear or loss. This may feel slightly better in the short term, but it usually creates greater problems and more intense fear and paralysis for the long term, when you need to face the back log, the late fees, or worse.

Limitation – To limit your experience of negative emotions, you take no risks, play small, or try to be completely safe. This is a result of fear of moving forward or making a mistake, and limits your opportunities to invest in yourself. An extreme case would be hiding your money under your mattress. A milder form is not going to a seminar that might improve your chances for greater income. Opportunities are missed and limitation breeds greater limitation.

Rash decision making – When fear arises, you may try to act your way out of a situation with panic-driven behavior, like investing in something that is “pie in the sky” or taking a job you hate just because you are so fearful of not having enough money, you don’t wait for a good job.

Indecision – Fearful emotions can overwhelm the mind and shut down creative thought, so that you don’t know what to do or how to begin to make a decision about money, investments, jobs, etc. Negative emotions and worry suck up mental energy needed for problem solving.

With greater awareness of your pre-programmed perceptions and feelings about money, and changing the mental “software” when possible, you can make better decisions about financial matters, and feel greater peace about your decisions.

Here are some steps to consider:

1. Develop mindfulness through meditation. Know what you are thinking and feeling when a situation arises. You cannot change what you are not aware of.

2. Develop greater awareness of your emotions. Notice how you feel and identify the thoughts that created those feelings. Just observe the feeling long enough to let it release so that it no longer drives you to avoid, panic, etc. You will gain clarity and be better able to take the right action.

3. Improve mental focus. Practice focusing on what you want, not what you don’t want. Use affirmations like, “I always have enough money,” to help change the mental software.

4. Create and implement a debt repayment plan. Then, whenever you think about debt, remember that you have it under control and can use your energy to create more money.

5. Create a budget that reflects your values. A budget that is based on values is much easier to maintain and follow because you believe in it.

The Law of Attraction has been receiving a great deal of attention in the popular media lately. It refers to the process of creating abundance through thoughts and feelings. If you are not aware of this concept, a good way to find out more is to watch the movie, The Secret. Mindfulness is an important part of the attraction process. You must become aware of what you are thinking and feeling in order to be “at choice” about your life.

Mindful Life Coaching is a process designed to help you transform your life through mindfulness, mental focus, emotional intelligence, and the creation of new belief systems that support inner peace in all areas of life and success as you define it.