Lynda Moore says a healthy relationship with money unlocks the freedom to live life on your terms. It’s about being wealthy, whatever that means to you

We constantly hear about being unhealthy: physically, mentally, spiritually and financially, and we are also given lots of information, ideas, trends, plans and treatments on how to get healthy.

So, I thought it was time to give those of you who have done the hard work on your finances and have a healthy relationship with money a pat on the back, a Hell Yeah! or a happy dance whatever it is that rocks your boat when you celebrate.

We can spend so much of our time ‘fixing’ ourselves, we often don’t know when we have reached the goal line. When have we become healthy and what is the next step in maintaining that health?

Money is more than just a tool for transactions; it’s the lifeblood of our dreams, ambitions, and often, our anxieties. Your relationship with money shapes everything from the decisions you make daily to your most profound definitions of success and fulfilment. It’s not just about dollars and cents; it’s about what those dollars and cents can enable you to do and feel. Achieving a healthy relationship with money is foundational not just to your financial well-being, but to your overall quality of life.

Dr Kathleen Gurney, in her book “Your Money Personality. What it is and how you can profit from it”, describes a money personality style which she calls Money Mastery.  I love that term, you have mastered something, which means you can take off the training wheels and really get into action. 

Here are some of the character traits of a Money Master.

You are a wise financial decision maker, successful in accumulating assets, and you are generally content with your financial achievements.

You are in control.  Not your emotions, you have developed a sense of yourself both personally and financially.  You are good at setting goals and achieving them.  You are actively engaged in managing your money. You have a strong work ethic and take pride in your accomplishments.

You have found the balance between the mastery of money, and the contentment and sense of security that it brings.

It’s not about following the latest money-making secrets; it’s more of an attitude that fosters financial success.  You are high in feelings of self-esteem and self-worth; you feel contented and secure.

This is certainly someone to aspire to, and I’m sure many of you reading this can relate to a number of these character traits. 

How do you get there? To me, Money Mastery means you have a healthy relationship with money, both in mindset and your actions.

Here is a checklist of actions that you can rank yourself on to see how close you are to a healthy relationship with money and Money mastery and maybe give you a few areas that you might still need to work on.

1. You don’t avoid money 

You know exactly what you owe and what you own. You might still have debt, but it is part of your long-term wealth creation plan.   You regularly check your accounts online, and you’re aware of upcoming payments. Even if something unexpected happens, you face it head-on and are prepared to deal with it. No more being an ostrich for you. You have a retirement plan in place, and understand the nuances of long-term investment strategy, and are in it for the long haul.

2. You live within your means 

You know from the information you have at your fingertips; how much money is coming in and going out. This means you can pay credit card bills and anything else in full. No BNPL plans for you.  You choose to save for holidays and large purchases. This doesn’t mean you live a frugal lifestyle without enjoyment; instead, you make wise choices to balance fun and responsibility that works for you and your family.

3. You’re transparent with yourself and others 

Honesty is key. You’re open about your spending habits with yourself and your partner. There are no hidden purchases, and you’re candid about your financial situation. The only surprises are thoughtful gifts, not secret splurges.

4. You’ve examined your money beliefs 

You’ve taken the time to understand why you view money the way you do. By examining your beliefs, you’ve identified which ones serve you well and discarded those that don’t. This introspection allows you to cultivate a healthier mindset towards money. You may have done this consciously or it may have been more organic as the other areas of your life dropped into place.

5. You have a plan, goals that you want to achieve.

You understand your Why.  This gives you the balance between generating income and growing wealth.  Knowing when you have enough of both to achieve what your vision and goals are in life.  This is more than just a financial plan; this is a life plan.

Transforming your financial mindset

Cultivating a healthy relationship with money isn’t about amassing wealth for its own sake; it’s about using money as a tool to create a life you love.

A healthy relationship with money unlocks the freedom to live life on your terms. It’s not just about “spend less” or “save more.” It’s about redefining what money means to you and mastering it to design your Rich Life. It’s about being wealthy: In whatever way that means to you.   

Lynda Moore is a Money Mentalist coach and New Zealand’s only certified New Money Story® mentor. Lynda helps you understand why you do the things you do with your money, when we all know we should spend less than we earn. You can contact her here.