Are you ignoring the signs? Healing from money trauma

It's easy to believe that you haven't experienced money trauma when you've been in a cycle of coping or managing your emotions surrounding money for years, considering it to be normal.

Here are a few scenarios. As I list them, consider how you feel:

• At the grocery checkout line
• An email or text for a bill comes in
• You lose your job
• A family member or friend asks for money
• You need to ask a family member or friend for a loan
• Your friends wanna go out for lunch, but you can’t afford it
• Your parents/guardians treat you and your family to a vacation
• Your landlord increases your rent
• Your friend asks you to be a bridesmaid
• There’s a fraud attempt on your credit/debit card
• You receive a significant cash gift from a family member

Money trauma refers to the psychological and emotional wounds you may experience as a result of past financial experiences or beliefs surrounding money. In short, it refers to your emotions surrounding money.

This trauma can manifest in various ways, such as fear of scarcity, guilt associated with wealth, or anxiety about financial instability.

Think about the emotions you felt about the situations listed above. If you felt anything other than emotionally calm or confident in how you would handle it, it’s possible there’s trauma there.

But just like any other type of trauma, you can heal it.

To heal money trauma, you can take practical steps that address both the emotional and practical aspects of your relationship with money.

Healing money trauma is essential for achieving holistic well-being and building a healthier relationship with money.

It allows you to break free from the constraints of past experiences and beliefs, empowering them to create a more fulfilling and joyous future.

Here are a few suggestions:

Acknowledge the Trauma: Recognize and accept that you may have money trauma. Understand how past experiences or beliefs about money have shaped your current mindset and behaviours.

Identify Triggers: Reflect on specific situations or events that trigger negative emotions or thoughts about money. Understanding these triggers can help you better manage your reactions.

Practice Self-Compassion: Be kind to yourself and acknowledge that healing takes time. Avoid self-blame and instead focus on nurturing a positive and supportive relationship with yourself.

Challenge Beliefs: Examine and challenge any negative beliefs or assumptions you hold about money. Replace them with more empowering and realistic perspectives.

Practice Self-Compassion: Be kind to yourself and acknowledge that healing takes time. Avoid self-blame and instead focus on nurturing a positive and supportive relationship with yourself.

Challenge Beliefs: Examine and challenge any negative beliefs or assumptions you hold about money. Replace them with more empowering and realistic perspectives.

Practice Gratitude: Cultivate a mindset of gratitude by focusing on the positive aspects of your financial situation, however small they may seem. Expressing gratitude can help shift your perspective and foster a sense of abundance.

When you heal your relationship with money, you will experience:

• Improved Mental Health
• Better Financial Decision-Making
• Healthy Relationships with friends and family
• Financial Stability
• Breaking Generational Patterns
• Increased Self-Worth

Doesn’t that sound better than amazing?

Now that you know about money trauma, what can you do about it? I have a simple exercise you can try over the next week.

Step 1: Try this:

Over the next few days, note any thoughts and feelings that come up when you’re handling or thinking about money.

Step 2: Take Action

The LYF Course 4.0 is your next step towards feeling confident and calm about your money.

This coaching program is designed for women who are eager to transform their financial lives, break free from doubts, and embrace a confident wealth-building journey tailored to their unique stories and aspirations.

When you’re committed to transforming your financial situation, you’ll need to let go of the shame, regret, grief, anger, frustration etc.

As well as any other emotions related to past money decisions where you didn’t know better…or even when you did know better.

Dr. Carol and I look forward to hosting you.

Registration closes on February 26th, 2024. Click here to learn more.