Improving Your Relationship with Money: A Fundamental Key to Personal Wellbeing

LIFESTYLE

By Renee Machel

oney impacts all of us differently depending on our stage of life, career and personal experiences. However, financial stress is one of the leading causes of divorce, and financial instability is closely linked to mental health struggles, including depression and even suicide. And while these are extreme examples, they underscore how money inevitably intertwines with our overall wellbeing.

As someone who works with thousands of professionals, I’ve seen firsthand that money is more than just numbers in an account. It’s a tool—deeply tied to our sense of security, peace and fulfillment.

CREATING FINANCIAL ALIGNMENT

In any household, alignment around money can create a sense of flow. When goals, habits and communication sync, life feels more seamless. But differences are inevitable—whether in spending and saving habits, outlooks or priorities. These differences can lead to friction or conflict, especially during tough times.

What has worked for me is empowering myself to think and act as an individual while respecting my partner’s right to do the same. Striking this balance has allowed us to navigate financial differences with respect and collaboration.

Money can be a difficult topic to broach, as many of us weren’t taught how to have open and honest conversations about it. This makes self-awareness—understanding your triggers, habits and mindset around money—key to fostering financial harmony and generational growth.

BUILDING A HEALTHIER MONEY MINDSET

Finding ways to foster a sense of “enough” while observing the true necessity of things can reshape your relationship with money. One small practice is keeping actual dollar bills in your wallet and car. Having just enough for gas, a snack, or peace of mind combats the fear of inadequacy and fosters an abundance mindset.

Since childhood, I’ve engaged in an exercise of adding items to my cart and then putting them back. Now, I build and rebuild online carts as a form of delayed gratification. This simple habit strengthens financial discipline and helps me distinguish between wants and needs.

Another tactic I’ve embraced is getting comfortable with returning items I may have purchased impulsively. While it’s inconvenient, the act reinforces thoughtful spending. By reallocating that money to more important goals, I’ve also become more attuned to the behaviors driving overspending.

ESTABLISHING FINANCIAL VALUES

Your financial roadmap starts with defining your values and principles. Who are you? What kind of life do you want to lead? When old habits resurface, reconnect with these values to stay grounded in what’s most important to you now and in the future.

You don’t need to wait for a new year or Monday to make changes. Any day can be the right day to set new intentions and actionable tasks. The key is consistent effort. Over time, these movements lead to profound transformations. While the financial landscape has shifted, the habits remain timeless: choose wisely and remind yourself often.

If you’re just starting to focus on your finances, immerse yourself in learning—read books, listen to podcasts and take online financial courses. If you’re already financially savvy, continue educating yourself while working closely with a financial advisor to stay informed and secure.

6 Money Moves to Transform Your Financial Health typography

1. Build a Starter Emergency Fund. Start with $500–$1,000. Having this cushion can bring tremendous peace of mind. If you need to use it, replenish it. Over time, aim to expand the fund based on your specific needs.

2. Practice Delayed Gratification. Try a no-spend week, month, or even year. Skip unnecessary purchases—decorations, impulse buys, etc.—and redirect that money toward your emergency fund or debt repayment.

3. Tackle Debt with the Snowball Method. Focus on paying off the debt with the highest interest rate first or start with the smallest balance to gain momentum. Once you pay off one debt, roll those payments into tackling the next one.

4. DIY Repairs to Save Big. Leverage YouTube for home or car repair tutorials. Including family members in the process can also teach valuable skills and foster a mindset of resourcefulness.

5. Plan and Track Holiday Spending. Reflect on past seasons’ expenses and emotions. Did you overspend? Why? Over time, evolve from after-the-fact tracking to intentional planning, creating a holiday budget that aligns with your financial goals.

6. Shop Ahead and Strategically. Mark clearance sales on the calendar and buy items for upcoming events, like birthdays or holidays, at discounted prices. However, avoid overspending by sticking to a designated budget for these purchases.

TEACHING FINANCIAL HABITS TO THE NEXT GENERATION

Modeling healthy money habits can create a lasting impact. Whether you’re single, co-parenting or in a partnership, remember this: money is a tool. How is it serving you and your family? Define your goals, craft a vision and take small, consistent steps to achieve it.

ANCHORING IN FINANCIAL VALUES

Ultimately, finances and wellbeing are deeply intertwined. When you take control of your money on your terms, you’re taking a significant step toward living a more fulfilled and empowered life. Attack your finances from every angle—habits, savings, earnings and mindset. The combined effort will transform your relationship with money and create a foundation for long-term wellbeing.

Renee Machel is a nationally recognized wellbeing speaker, certified life coach, CYT 200 yoga instructor, mindfulness, and meditation guide. As the co-founder of Get MotiVETed she aims to provide a positive impact on people’s wellbeing and enhance the culture within organizations of vetmed. She has spent nearly 20 years in the veterinary industry as a hospital leader and technician. She shares her personal story of overcoming wellbeing struggles along with key teachings in managing both personal and professional development.

Back to Issue