By George Marino CPA, CFP
August 9, 2021
Each one of us will likely have our own unique relationship with money just as we’ll have our own way of practicing mindfulness. Having the right skills and knowledge of money management can greatly improve your financial well-being. Of course, there are other variables that can sometimes make it very challenging for us to reach personal financial goals. Perhaps you are a second-year professional working with debt and find that your relationship with money causes anxiety and frustration. Or maybe you are mid-career and struggling with a mortgage, college funding, caring for aged parents, and more. Perhaps you are near retirement and wondering if your savings will carry you through the remaining years. Or you may have accumulated substantial wealth and are worried about estate-planning and gifting strategies. These and other similar situations can take a toll on anyone.
A good question to ask is: What is my relationship to money, and how can mindfulness help me in my understanding of that connection? In other words, how do I integrate mind, body, soul, and spirit into my own personal money matters? On top of your current financial situation, you bring a lifetime of experiences to work each day that contribute to your relationship with money. Most of the time, this is unconscious, meaning you are not aware of how these patterns play out day to day.
The notion that you are conservative and therefore able to manage your own finances in a way that is exemplary can bring up certain painful emotions. As working professionals, we may believe that we should know better in financial matters, and when we make a decision that doesn’t work out according to our expectations, we feel even more shame, anger, and upset. Paradoxically, when confronted with financial challenges, we have an opportunity to wake up and discover other ways to cultivate a new relationship with money. This does take courage. When we wake up and persevere without an ego attachment, we step into meaning and a higher purpose.
Our focus on the present moment does not mean we live for the present, which would imply impulsiveness. Quite the contrary, we tap into the deeper dimension of the present moment, which is an open field of awareness where wisdom and peace make their home.
I help people who are struggling with their finances and want to develop new insights, clarity and awareness surrounding money matters.