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cultivating courage and practicing money mindfulness

Author

Karina
23 Aug

Mind Club is a newsletter that helps you thrive in the modern world.

Hello Earthling,

Every few months, I check in to see how much progress I’ve made on my goals for the year. Whenever I feel stuck or low on motivation, I hit reset which often looks like going back to the basics (like my routine). I’ll think about what gives me energy and what drains me, switching things up to gain momentum again.

If you’ve been there, it’s OK. Remember that the journey is rarely a straight path. There might be some twists and turns along the way, so it’s good to leave room for flexibility.

Here’s some food for your mind this week:

🏹 Cultivating Courage

Do you ever say you’ll do something and then change your mind because of a voice in your head? It might be telling you that you’re not ready, you don’t know enough, and it’s probably not worth it to try and fail. That voice is your inner critic doing its job to protect you by keeping you in your comfort zone.

Studies have shown that even people with years of experience under their belt feel fear and self-doubt. It seems like the inner critic is always there. So if it’s on the ride with you too, you can learn how to manage it.

🫧 How to overcome self-doubt

  1. Acknowledge the inner critic. Notice when your inner critic is loud, but don’t listen. In a podcast episode, career coach and author Tara Mohr discusses how the inner critic has different intentions and does not always speak your truth. Separating yourself from your inner critic is key to overcoming self-limiting beliefs.

  2.  Change your narrative. The stories you tell yourself shape your identity and experiences. James Clear has written about identity-based habits on his blog. He mentions that creating a new identity is one way to change your behavior. Align your actions with your new identity.

  3. Take action. When you take action, you’re proving to yourself that you are capable. You can do hard things. You’re building up experience, learning what works and what doesn’t—improving along the way.

  4. Celebrate the wins. Even the small ones. Not only will this boost your confidence, it will encourage you to achieve your larger goals.

💸 Financial Wellness Corner

Insights for building healthy financial habits and a positive relationship with money.

🍝 Conversations at the Dinner Table

Two weeks ago, I attended a dinner hosted by Aura, where we talked about money and mindfulness. It can be hard to talk about money since it’s so personal. Everyone has a different money philosophy. Thankfully, I was in a safe space where everyone was open to sharing their experiences.

At dinner, we delved into our earliest money memories and our definition of a rich life. Your first money memory matters because it shapes your core beliefs about money— how you earn, spend, invest, and save.

In the first few years of my life, most conversations I heard at the dinner table were about money issues. Spending too much, not having enough, and not knowing where to get funds.

It wasn’t until I was a little older that things changed. I met my biological dad when I was 13 and gained a new perspective on money. He talked a lot about the stock market and investing. It was foreign to me, but the idea of owning businesses by buying shares of a listed company was exciting. I went from attaching negative feelings to money to feeling empowered that money could be used as a tool.

🧘🏻‍♀️ Money Mindfulness

While your earliest money memory may have shaped your financial beliefs, they’re not set in stone. Beliefs can be changed, especially if they’re holding you back.

One way to overcome limiting beliefs is by practicing money mindfulness.

If you have a meditation practice, you know how challenging it can be to sit still while your mind wanders. Money mindfulness shares a striking resemblance.

Sitting down to evaluate your finances can be uncomfortable. You won’t feel like doing it, but it will benefit your mind, body, and wallet.

By being aware of your finances, you can take control and chart the course of your financial journey.

✨ Tips for Practicing Money Mindfulness

  1. Evaluate your finances. Uncover patterns and spending behaviors by knowing exactly where your money is going. It’s also a good opportunity to make changes such as cutting subscriptions you don’t need or increasing the amount of money you’re putting aside.

  2. Notice your emotions. There’s a link between your emotions and financial decisions. Pay attention to the feelings that come up when you check your bank account or when you make a purchase. Once you gain awareness about your emotions, you’ll know what’s driving your financial decision-making.

  3. Identify your beliefs about money. What do you value? Do you have a scarcity or abundance mindset when it comes to money? Your beliefs can either limit or empower you. Take time to identify your thoughts. Try Aura’s money personality quiz to gain insights into your money mindset.

Your money mindfulness practice doesn’t have to be so rigid. Be patient, experiment, and figure out what a mindful money practice looks like for you. 🫶 


Disclaimer: The views expressed in this newsletter are for informational and recreational purposes only. Nothing contained in this newsletter should be construed as investment advice.

That’s all for now. Want to chat about any part of this newsletter? Reply to this email and let me know what’s on your mind.

If you’re looking for the Internet Finds corner, it goes out in a separate email as Five Favorite Finds. Read the previous edition here. ᵕ̈

Have an incredible week,

Karina

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