As of late, there has been an awakening where more people are open to trying spiritual practices in order to improve their lives. Whether it's meditation, yoga, saying affirmations, or just believing in the law of attraction, spirituality is not as taboo as it once was. But when it comes to your finances, can we use these same principles to help us manage money better? I say yes! The following are five spiritual practices that can help you with your finances.
1. Make Peace With Your Money
Deepak Chopra says in his book The Seven Spiritual Laws of Success [1], "Every time you are tempted to react in the same old way, ask yourself if you want to be a prisoner of the past or a pioneer of the future." This is important to apply to your money because your upbringing can affect how you deal with your finances. Do you have a scarcity mentality that is making you a money hoarder or has your money history made you a shopaholic? Whatever your money personality is, you must make peace with it and let go of any habits that are not contributing to your journey towards financial freedom [2]. Take a moment to write down the money messages that you've heard coming up, reflect on what you've done right so far with your money, and identify the places where you have opportunities to improve. No matter the mistakes you have made, make peace with them. Forgive yourself for what was, accept what is, and begin to move in the right direction today. Letting go of the past is the best first step to creating a brighter financial future, and brighter future in general.
2. Visualize Your Abundance
The law of attraction teaches us that if we want to reach our goals, then visualization is where we should begin. By visualizing your dreams, you teach your brain to tap into the inner resources that you need to make them a reality. It allows you to see your dreams in your mind's eye in order to accept and believe that you deserve them, and it allows you to stay positive, which will help you to stay on track to be successful in the long run. Visualizing your abundance can help you with your finances in the same way. When you can see yourself with enough money to comfortably reach all of your obligations, then it allows your brain to tap into your inner resources to make that real. When you can see your money goals achieved in your mind's eye, you can begin to feel the way you would when they actually come to fruition, which will help you attract those outcomes faster. Also, visualizing your abundance will keep you in a positive space with your money, which will eventually attract more money to you.
3. Set Your Money Intentions
In the spiritual world, your intention is everything. If you want to manifest goodness in your life, then you first have to be intentional. As Bryant McGill once said, "Every journey begins with the first step of articulating the intention, and then becoming the intention." What you intend for your money will have an impact on how you choose to use your money. Do you want to save more? Do you want to start a new business [3]? Do you want to get out of debt? All of these are intentions that need to be set before you can begin making a money goal a reality. Once your intentions are set, the subsequent actions that you must take become easier to figure out.
4. Show Gratitude For Your Money
The Hawaiian Huna tradition has seven principles of life, and the third principle, "Makia," says, "Energy flows where attention goes." Whether good or bad, whatever you focus on the most is what you will continue to see in your life. By showing gratitude, you are telling whatever you are praising that, yes, you want more of it. Bless your money! Show it gratitude! Every penny, nickel, and dime of it. Don't take what you have for granted and appreciate that you have it, even if you would prefer more. As Oprah Winfrey [4] once said, "The more you praise and celebrate your life, the more there is in life to celebrate." Apply that to your money and you will begin to notice an increasingly positive flow. Even if we look at this from a practical perspective, showing gratitude for your money will also guide where you spend your money. Those who are grateful for things will be more likely to take care of them and not be wasteful, which in turn will help you save more money [5].
5. Treat Other People's Money as You Want Yours to Be Treated
The Law of Karma says, "For every action there is an equal but opposite reaction." Simply put, that means what goes around comes around. If you put out negative energy in thought, word, or action, that negative energy will come back to you. As it relates to your money, you must realize that when you are borrowing money, whether it's from a person or a bank, you are being trusted with these funds and there is an expectation that you will honor your word. Just like you would want your money returned to you if you lent it out, this is what others are expecting as well. As you do right with others, this same energy will come back to you.
There are other spiritual laws that can apply to your money such as giving to receive, which can be activated by sharing your wealth or the Law of Allowance, which says that you should be open to allowing others to treat you.
Luvleen Sidhu is the president, cofounder and chief strategy officer at BankMobile [6], the largest and fastest growing digital bank in the country helping the underbanked, millennials, and middle-income Americans have an affordable, effortless, and financially empowering banking experience.