Understanding Money Trauma
Money trauma is a complex issue that can deeply affect your relationship to your finances which often stems from various sources such as childhood experiences, financial hardship, negative beliefs, and inherited patterns. Childhood experiences, such as growing up in a financially unstable environment or witnessing money-related conflicts between parents, can leave lasting emotional and psychological scars. Additionally, experiencing significant financial difficulties, like bankruptcy, job loss, or a failed business attempt can lead to feelings of hopelessness, shame, and inadequacy.
Money trauma can be perpetuated by internalized negative beliefs about money, such as “I’m not good with money” or “money is the root of all evil.” These beliefs can influence one’s financial behaviors and create self-sabotaging patterns. In some cases, money trauma is intergenerational, passed down through family dynamics and learned behaviors related to money.
The manifestations of money trauma are diverse, impacting various aspects of life. These manifestations include engaging in financial self-sabotage, experiencing persistent fear and anxiety related to money, struggling with low self-worth tied to financial status, facing conflicts in personal and professional relationships due to money issues, and living with chronic stress as a result of unresolved money trauma.
Healing money trauma is a process that begins with self-awareness. To start we help clients examine their beliefs, emotions, and past experiences related to money. Working with a business or abundance EFT coach who specializes in money issues can provide essential guidance and a safe space to explore these issues. Challenging and replacing negative beliefs about money with more empowering ones is a vital step in the healing journey.
Creating a financial plan, which includes budgeting, saving, and setting financial goals, can help you regain a sense of control and security over their finances. Alongside this, education plays a significant role in empowerment. Learning more about personal finance and money management can provide you with the knowledge and tools to make informed decisions and build financial resilience.
Nathan came to seek my help when he was launching his EFT practice. He had done all the necessary steps to complete his certification and to become as skillful as possible. That being said he still felt like he couldn’t get potential clients to commit to paying for his work. When examining his beliefs Nathan had several including:
- You have to work hard to make money
- You have to become a sleazy sales person to sell yourself
- You can’t make money doing work you love
In our work together we explored where these had come from and discovered that many, not surprisingly, stemmed from childhood. Nathan’s father worked a difficult blue collar job. He had once tried to break free from that job to start a woodworking business but had failed. That failure led to Nathan having to work as a teenager to help his family. As an adult Nathan had been lured into a get-rich-quick network marketing scheme where he lost all his investment. Using EFT we worked on multiple events and Nathan felt freer than he had been to pursue his new practice. Within a few short months Nathan had sold several packages and within 8 months he was able to quick his day job.
Throughout the process of healing money trauma, practicing self-compassion is crucial. It’s essential to be gentle with oneself, recognizing that money trauma is deeply ingrained and that progress may take time. Money trauma is a powerful force that can affect every aspect of life but by acknowledging its existence, seeking support, and taking proactive steps to heal, you can transform your relationship with money, leading to greater financial well-being and overall happiness.