Hey there, mama! You know the feeling… You’re a single mum, rocking it every day. Between work, childcare, and everything else that life throws your way, you barely have time to breathe, let alone think about something like your money story. But here’s the thing: your money story – which is the narrative you hold about money – can be a powerful tool or a hidden obstacle.
What is a Money Story, Anyway?
Think of your money story as the movie playing in the background of your financial life. It’s shaped by your experiences, from childhood money talks with your parents to the financial realities of single parenthood. This story whispers messages in your ear, influencing how you spend, save, and even how you approach work. For many single mums, their money story may be rooted in scarcity, fear, or lack, stemming from past traumas, financial struggles, or societal conditioning.
The Hidden Gremlins of a Negative Money Story
A negative money story can have huge effects on your financial well-being and overall life satisfaction. It may manifest as limiting beliefs about money, such as “I’ll never be able to get ahead financially” or “Money is always a source of stress.” These beliefs can create a self-perpetuating cycle of financial struggle and reinforce feelings of powerlessness and inadequacy.
But here’s the catch: sometimes, that movie script gets stuck on repeat, and the messages can be downright discouraging. Phrases like “single mums can never get ahead” or “money is always tight” can keep you feeling trapped and powerless.
These negative money stories can lead to:
- Emotional spending: Believing that you are unworthy or incapable of financial success may lead to self-sabotaging behaviours, such as overspending or buying things you don’t need to avoid feeling deprived.
- Avoidance: Putting off budgeting or dealing with bills because it feels overwhelming.
- Limiting beliefs about setting goals: Holding yourself back from career opportunities or asking for a raise because you believe “I can’t afford more.”
- Fear of taking financial risks: A negative money story may instil a fear of taking risks or pursuing opportunities that could lead to financial growth and stability.
- Limited beliefs about worth: A negative money story can impact your sense of self-worth, leading you to settle for less than you deserve or feel undeserving of financial abundance and prosperity.
These can create stress, and anxiety, and even limit the opportunities you and your children pursue.
The good news? You’re the director, mama! You have the power to rewrite your money story and turn it into an empowering narrative. Woop woop!
Rewrite Your Money Story!
Here’s the thing. Your money story isn’t set in stone. You can rewrite it! Here’s how:
1. Identify Your Money Story
First, pay attention to the thoughts and beliefs that pop up around money. What are your core, or limiting, beliefs about money? Do words like “lack,” “struggle,” or “not enough” come up? Journaling or talking to a friend can help you uncover these hidden messages.
2. Challenge Those Beliefs
Next, write down your beliefs and challenge them! Are they based on fact or fear? Is there evidence that contradicts your story? Think back to times you’ve overcome financial hurdles. These experiences are proof of your resourcefulness and strength!
3. Rewrite Your Money Story
What do you want your new money story to be? What do you want your financial future to look like? Write a new story filled with abundance, security, and achieving your goals. For example, if you believe “single mums can never get ahead,” replace it with “I am resourceful and capable of building a secure future for my family.” Write affirmations like “I am worthy of financial security” or “I am a money magnet.”
4. Embrace Gratitude and Create an Abundance Mindset
Shift your mindset from scarcity to abundance by focusing on gratitude, embracing opportunities for growth, and believing in your ability to create financial abundance. Start by taking time to appreciate what you already have. A roof over your head, healthy children, and even small things like a good cup of coffee – they all cultivate an attitude of gratitude.
5. Take Action
Take proactive steps to improve your financial situation, whether it’s creating a budget, seeking financial education, or exploring income-generating opportunities.
Action Steps for Single Mum Money Power
Empowerment comes from taking control.
- Track your income and expenses for a month. This will help you identify areas where you can adjust your spending and free up resources. Knowing where your money goes is the first step to taking control.
- Create a budget (there are amazing free apps!). Every step forward builds confidence. And this is your roadmap to financial freedom. Allocate funds for your needs, wants, and savings goals.
- Set realistic savings goals. What are your financial aspirations? Do you want a safety net for emergencies? Plan a family vacation? Set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals to move you closer to those dreams.
- Educate yourself on budgeting, saving, and building wealth. There are tonnes of free resources available online and in libraries. And there are amazing programs and communities designed to support single mums financially.
- Consider additional training or education to boost your earning potential.
- Recognise and celebrate your progress, no matter how small. Every dollar saved, every debt paid down, is a victory!
You’ve got this!
It’s time to rewrite your money story. By recognising and challenging your negative beliefs about money, you can break free from the cycle of financial struggle and create a new narrative of abundance, prosperity, and financial well-being.
Remember, mama, you’re a strong and capable woman. Rewriting your money story is an act of self-care, setting yourself and your children up for a brighter financial future. Remember, you have the power to rewrite your money story and shape your financial future on your own terms. You’ve got this!
P.S. DID YOU KNOW?
You can also book one-on-one coaching with Julia Hasche from wherever you are in the world!
- Do you need clarity on whether you should leave your partner or not?
- Have you just parted ways with your partner, and feeling lost?
- Have you been single for a little while now and need assistance with getting your life back on track and feeling empowered?
Click HERE to read about coaching and to hear from some others who have gone through coaching programs with Julia, and book in here for your 30-minute complimentary Clarity Call.
The purpose of the Clarity Call is:
- For me to get to know you and understand an overview of your current situation and where you are at.
- For us to establish what you need assistance with to move forward.
- To see if we are both comfortable working together.
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