Standing in your power with money is both an art and a science.
What do I mean by that exactly? Well, it’s a science in the sense that there is a method to the madness, a systematic way to manage your money that will keep you well-informed and ahead of the proverbial 8-ball. However, standing in your power with money is also an art because beyond the systematic processes of money management it’s also about how you energetically put yourself out into the world when it comes to money.
Let me explain a little further. When I think of people who are powerful with their money, I think of people who have lots of “money mojo” – they set boundaries, they stand up for themselves with class and grace, and they are not afraid to handle what needs to be handled when it comes to financial matters. However, many people don’t have solid “money mojo” because they don’t even realize that they are often giving away their money power.
So how do people give away their money power? It happens in 5 key ways, mainly because people are:
- Afraid of conflict;
- Afraid of facing responsibility and being a financial “grown-up”;
- Afraid of what others will think (embarrassed that people will talk about them or that people will be angry with them);
- Afraid of looking like/being a failure (usually further aggravated by comparing oneself to others);
- Afraid of disempowering someone else (i.e. with their success, etc.).
Do any of these ways resonate with you? Could you be paving a more powerful path to financial freedom just by plugging up one of these power leaks in your life?
Claiming your money power starts with one thing – a commitment to understanding where you’re giving away your power so that you can then understand where you would like to set a new standard in your financial life. A bit of a heads-up and warning here though as often when people shift to a new standard of power with money, it can (and has often been known to) cause an unpleasant reaction in others as you shift toward that new standard. You change the dance steps in an old routine that someone else is comfortable with (and where they can potentially take advantage of you), and they tend to get a little testy!
Start with these 3 steps to take back your money power today:
- Identify your money power leaks – This may be the toughest step of all of them and that is to honestly own up to those situations where you give away your power with money! Review the 5 ways noted above that most people give away their power with money, and see which one of the five is most applicable to you (hint: it’s usually the one where you read it and want to immediately pretend you didn’t see it J ). It might be ugly at first, however try to have compassion for yourself that you’re doing your best to be honest and step forward to improve your financial future. It may also be helpful to review the list with a loved one that you trust; often we can’t see for ourselves what others more easily and objectively can see.
- Decide what boundaries you will put in place going forward – Usually when money power leaks exist, it has a lot to do with boundaries that have either lapsed or were never there in the first place. It’s time to strengthen the boundaries around your power leak, so brainstorm on what boundary you will put into place to prevent any future leaks.
- Take action immediately – Now that you’ve identified what you’d like to work on, and you’re clear about the boundaries you’re putting in place, it’s time to be proactive. Complete the following sentence, “The action I will take is _______ by _____ (set a date within a reasonably short timeframe).” It doesn’t have to be a big step; it can be a very basic step that’s intended to get you moving forward. If you’d like extra credit, come up with several steps that will get you blasting through to setting a new standard for yourself in no time!
It takes practice and courage to claim your money power, and at first it can feel really uncomfortable. Also, as you’re figuring out where you’re not being powerful with your money, there can be a tendency to feel ashamed or embarrassed. Do yourself a favor and don’t stay at the “pity party” long though, ok? Envision each situation as a gift that is sent to teach you something about yourself and your life and work through the issues one step at a time to stand in your full money power!