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Raise your hand if you want to get your finances right. Raises hand. It’s one of the most common and admirable goals we hear at West Egg Wealth—and for good reason. Financial peace opens the door to a life with more freedom, confidence, and opportunities. But achieving that peace doesn’t begin with a spreadsheet or a calculator. It starts with something far more personal: understanding your relationship with money.
Welcome to Issue 4 of Wealth Wisdom!
🧠 Understanding Your Relationship With Money
🧠 Understanding Your Relationship With Money
Introduction
Step 1: Know Yourself—And Your Money Story
Step 2: Define Your Financial Goals (Start Small, Think Big)
Step 3: Rewrite the Narrative—Let Go of Guilt and Shame
Step 4: Boost Your Financial Literacy (No Degree Required)
Step 5: Track, Tweak, and Transform
Step 6: Don’t Wait Until You’re in Trouble to Ask for Help
Step 7: Make Money a Tool—Not an Identity
Final Thoughts from West Egg Wealth
Want More Support?
Raise your hand if you want to get your finances right. Raises hand. It’s one of the most common and admirable goals we hear at West Egg Wealth—and for good reason. Financial peace opens the door to a life with more freedom, confidence, and opportunities. But achieving that peace doesn’t begin with a spreadsheet or a calculator. It starts with something far more personal: understanding your relationship with money.
This article will guide you through how to uncover your personal money story, break free from past financial mistakes, improve your financial literacy, and know when—and how—to ask for help. Whether you’re trying to get out of debt, build wealth, or simply feel less anxious about your finances, it all starts here.
Before you even set your first financial goal, take time to reflect on how you got to where you are. Everyone has a money story. It’s not just about numbers—it’s about emotions, habits, beliefs, and experiences.
Did your parents argue about money? Were you taught to save, spend, or avoid financial talk altogether? Did a major life event like a job loss or medical emergency shape your views on money? Were you praised for being frugal—or criticized for spending?
These early experiences influence how we manage money as adults. For example, someone who grew up in a home where money was scarce may struggle to feel secure even after reaching financial success. Others may overspend because they associate money with status, love, or security.
To rewrite your financial future, you must first understand your financial past. Take some time to journal or reflect on the following questions:
What did money mean in your household growing up?
How do you feel when you check your bank account?
What’s your biggest fear about money?
What’s your biggest financial regret—and what did you learn from it?
By bringing awareness to these patterns, you can begin to separate emotional triggers from smart financial decisions.
Once you’ve begun exploring your money story, it’s time to decide where you’re headed. But don’t rush into ambitious goals like “retire early” or “buy a dream home” right away. Instead, start by mastering the basics of your current situation.
Here are some examples of goals based on where you are today:
If you’re behind on bills: Focus on getting current with payments and creating a simple tracking system.
If you’re living paycheck to paycheck: Build a starter emergency fund of $500–$1,000.
If you want more breathing room: Look for ways to reduce recurring expenses or increase income.
If you’re ready to build wealth: Set up automated contributions to a savings or investment account.
No matter where you start, make your goals SMART: Specific, Measurable, Achievable, Relevant, and Time-bound.
Example: “Pay off $3,000 in credit card debt within 10 months by paying $300/month.”
As you gain momentum, expand your goals to include long-term dreams—such as home ownership, college savings, financial independence, or travel.
Everyone makes mistakes with money. The difference between staying stuck and moving forward is your willingness to forgive yourself and learn from those missteps.
Whether you took on credit card debt in your 20s, got caught up in a bad investment, or simply avoided looking at your bank account for too long—shame only keeps you frozen. Guilt drains your energy. Regret rewinds your confidence.
The truth is, you can’t change yesterday. But you can learn from it, and you can decide what happens next.Start by reframing your thinking:
Instead of “I was irresponsible,” try “I made the best decision I could with what I knew at the time.”
Instead of “I’ll never recover from this,” try “This is a setback, not a sentence.”
Instead of “I can’t be trusted with money,” try “I’m becoming someone who makes wise financial choices.”
Even seasoned professionals have been fooled by scams or made poor decisions. What matters is that you’re choosing to grow.
If you’re able to return a purchase you regret, do it. If not, chalk it up as a lesson—and move forward with intention.
In today’s world, being financially illiterate is like trying to drive cross-country without a map. But the good news? You don’t need a finance degree to understand how money works.
Start with the basics:
Budgeting: Understand your income, expenses, and spending patterns.
Saving: Learn about emergency funds, sinking funds, and short-term goals.
Debt Management: Know the difference between good debt (e.g., mortgage) and bad debt (e.g., high-interest credit cards).
Investing: Grasp the fundamentals of compound interest, risk, diversification, and time horizon.
Retirement Planning: Understand how Social Security, IRAs, 401(k)s, and pensions work together.
Taxes: Know how your income is taxed and how to optimize deductions and credits.
Reliable resources for learning include:
Online courses from universities and nonprofits
Books by respected financial educators
Newsletters (like this one!)
Podcasts hosted by credentialed professionals
Government sites like CFPB.gov or IRS.gov
Make it a goal to spend just 15 minutes a day learning something new. Small, consistent actions compound over time—just like money.
Now that you’ve started learning and goal-setting, it’s time to take action. But not just once—over and over again.
Here’s a simple system to stay on track:
1. Weekly Check-Ins
Set aside 15–30 minutes once a week to look at:
Bank account balances
Upcoming bills
Unexpected expenses
Any wins you want to celebrate
2. Monthly Budget Review
Compare what you planned vs. what you spent. Adjust categories as needed. Ask:
Where did I do well?
Where did I overspend?
What habits do I want to reinforce or change?
3. Quarterly Goal Alignment
Every 3 months, reflect on your financial goals. Are you making progress? Has life changed in a way that requires you to pivot?
4. Annual Deep Dive
Once a year, assess your:
Net worth
Debt-to-income ratio
Investment growth
Insurance coverage
Tax strategy
This rhythm will help you stay engaged, flexible, and focused.
Many people think they need to be drowning in debt to seek financial advice. But just like with your health, the best time to get support is before things become urgent.
Here are some signs that you may benefit from professional guidance:
You feel anxious or overwhelmed when thinking about money
You avoid opening bills or looking at your bank account
You’re unsure how to prioritize competing goals (debt vs. savings vs. investing)
You’re experiencing a life transition (divorce, new baby, job change, etc.)
You simply want a second opinion or a confidence boost
Financial professionals come in many forms:
Accountants can help with taxes and deductions
Financial coaches can assist with budgeting and behavior
Certified financial planners (CFPs) can build long-term strategies for investing, retirement, and estate planning
Credit counselors can assist with debt relief and negotiation
And don’t forget—community matters too. At West Egg Wealth, our mission is to provide clear, friendly guidance so you don’t feel alone in the journey.
Finally, remember this: money is a tool. It’s not your identity. It’s not your worth. It’s not a measure of success or failure.
Some of the wealthiest people feel insecure. Some of the most peaceful people don’t make six figures. The goal isn’t to impress others—it’s to live a life aligned with your values, your dreams, and your purpose.
Ask yourself:
What does “enough” look like to me?
What do I want more freedom to do?
How can I use money to support the people and causes I care about?
When money becomes a means to build your beautiful life—not a source of stress or shame—you’ve already won.
At West Egg Wealth, we believe financial transformation begins with self-awareness and continues with education, intention, and community support.
If you’re just starting out, take heart—you’re not behind, you’re simply getting started with clarity. If you’ve made mistakes, don’t worry—they’re stepping stones, not stumbling blocks. And if you’re already on your way, we’re here to walk with you as you reach your next milestone.
Your relationship with money is one of the longest relationships you’ll ever have. Make it a healthy one. And always remember: you’re not just building a bank account—you’re building a life.
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In a recent blog from 2024, I took a deep dive into the power of budgeting and how it can truly transform your financial future. From practical tips to mindset shifts, it’s a must watch video for anyone ready to take control of their money. You can check it out and watch the full video by clicking the play button on the left.
If you’re new to West Egg Wealth, be sure to click on our Getting Started icon. There, you’ll find downloadable materials, free guides, and practical tools designed to help you build stronger financial habits and gain confidence with your money. It’s the perfect place to begin moving toward better financial health and long-term stability.
If you have any questions, thoughts, or comments you'd like to share, I'm always happy to hear from you - just send a message to info@westeggliving.com
I'm here to help!
Thank you for joining us for this edition of Wealth Wisdom! We hope you found valuable insights and encouragement as you take steps toward a stronger financial future. It’s an honor to walk alongside you as you grow in financial knowledge, confidence, and peace of mind. Remember, you’re not alone on this journey—and we’re here to support you every step of the way.
Stay tuned for next month's issue packed with more tips, insights, and motivation. Until then, be kind to yourself and keep moving forward — you’ve got this!
The content provided on this West Egg Wealth is for informational and educational purposes only and should not be considered financial, legal, or professional advice. Always consult with a qualified professional before making any changes to your personal finances. Individual results may vary and West Egg Wealth makes no guarantees regarding specific outcomes.
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I love the video on this one.
I will try dinking water every hourr like I am trying to go 250 steps each hour.. Encouraging idea.
This is great information. I love the new layout. I cannot wait for the next edition!!!
Thanks Riaan.
Great article!