Money often seems like it should just be numbers and math; therefore, black and white. But many times, there is an emotional tie to how we use our money. We may know all the right ways to use our money, but then we might find ourselves consistently breaking our budget. Money is much more than dollar signs and numbers, and it is important to understand how it can impact our behaviors.

Common Emotional Money Behaviors

Take a moment to consider these questions:

• When you receive your paycheck, how do you feel?
• When you go out with your friends and buy a coffee, how do you feel?
• When you get a low-balance alert from your bank account how do you feel?
• When you learn your vehicle repairs is going to cost $1,000, how do you feel?

Money can make us feel many ways which can impact how we use it. Sometimes, we might believe money can make us temporarily happy, but it also can lead to negative feelings like fear, guilt, shame, and anxiety. We may feel fear when you must pay off a big loan, shame when we have overspent, guilt when we avoid checking our budget, or anxiety when we feel like we do not have enough money. Emotions are a normal part of life, but instead of ignoring them we should confront them and see how they impact our financial health.

We are going to spend money on what matters to us. For example, if you consistently spend more money on going to restaurants with friends than most other things, then time with friends is likely a priority and should be reflected in your budget. Maybe this looks like not spending as much money on clothes so you can better afford to eat out with friends. Or maybe, since we now recognize our priority, we find other ways to value time with friends without spending as much money.

Another example is we find that the package arriving for what we bought is a great thrill, but a short time later it is not as interesting. Since the thrill wore off rather quick, we must make another purchase to ignite that emotion once again. These purchases add up which leads to financial stress and some negative emotions. Here, we can identify that we enjoy the feeling of receiving something new, but this later leads to stress. Some possible solutions for this situation would be to avoid online shopping subscriptions, avoid browsing through stores you often buy from, or maybe ask a friend or NEXUS Coach to keep you accountable. Realizing how and why you spend your money is vital and can lead to better financial and emotional health.  

How can Biblical Wisdom be Applied?

Our perspective can entirely shift when we view money as a tool that God has blessed us with. When money is viewed this way, we can ask God how we can use our money to further His Kingdom. Complete reliance and trust in God can help alleviate some of those negative feelings we may have about money. Money is not inherently good or bad, but the Bible gives many warnings on how it can potentially impact our hearts. Asking God for wisdom is another great place to start when working out your finances.

Matthew 6:19-21

¹⁹ “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. ²⁰ But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. ²¹ For where your treasure is, there your heart will be also.

James 1:5

⁵ If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.

Come to NEXUS for Help!

Throughout this blog, budgets and other financial topics were mentioned. We would love for you to come in for a financial coaching session so that we can learn together on how and why you spend your money and help you set up a budget that will work for you, as well as answer any other financial questions you might have. Schedule an appointment today!