We have talked a lot about boundaries, but it is equally important to know balance. So today we are going to look at healthy boundaries and unhealthy boundaries when it comes to money.
Understanding Healthy Financial Boundaries
Imagine yourself in a healthy relationship with money. What does that look like for you? Healthy financial boundaries are all about balance and alignment with your values and goals.
It’s like having a relationship with your money that feels more like a friend that loves you and calls you out on your BS when you need it and not a strict nun holding a ruler at a Catholic school. You spend within your means, save for the future, and intentionally treat yourself to the things that you really enjoy.
Setting healthy boundaries means knowing your financial limits and making choices that keep your money mojo in check. It’s about having a plan, sticking to it, and feeling empowered, not restricted.
Signs of Unhealthy Financial Boundaries
Now, let’s talk about the dark side – unhealthy financial boundaries. If your money is like a sugar crazed child at a fair running in every direction and getting lost to the nearest shiny thing they see, your boundaries are too loose.
Unhealthy boundaries might mean overspending, thinking you’ll “start saving when things are more stable”, or relying on credit like it’s a magic money wand.
Loose boundaries may also show up if you’re trying to buy love and acceptance by “keep up with the Joneses” but ending up with a debt that makes your eyes water or keeps you living paycheck to paycheck.
Unhealthy financial habits can also manifest in the form of avoiding money discussions with your partner, leading to a financial communication breakdown. (Stay tuned for next week’s post about how to talk about money with your partner.)
On the other hand, too rigid of a boundary could lead to living so frugally that you are damaging your relationships because your family feels like you are not considering their needs. You have plenty, you’re working to get to your goals, but you’re pinching pennies so tightly that it clouds your long-term happiness, and your relationships are hanging on by a thread.
Strategies for Creating Balanced, Healthy Financial Boundaries
So, where is the balance in your finances and how do you keep your boundaries healthy?
It starts with self-awareness. (Yup, I’m saying it again and check out last week’s post if you missed it.) Take a moment to reflect on your spending habits, financial goals, and how they align. Create a spending plan that’s your financial buddy– flexible enough for fun but disciplined enough to keep you on track. If you need help with this check out Spend with Intention – Creating a Spending Plan That Works.
Communicate openly with your partner about money matters. (We will get into the details of how to do this next week.) Healthy financial boundaries thrive on transparency and teamwork. Discuss your individual money values, and find common ground that supports your shared goals.
If you’re feeling overwhelmed, bring in a professional for help such as a therapist or licensed financial professional.
If your boundaries are too rigid, you may very well be in denial about it.
You may feel like your partner, family, and/or friends just don’t understand what you are working towards and why it is important to you. I get it. “Money vigilance” is the money script I naturally gravitate to because that is what makes me feel safe and gives me a sense of control.
However, if I get too stuck in my success only in a financial sense, I risk losing the success I’ve built in my relationships with my husband, my kids, and my friends and family. I’ve seen first hand that when our financial boundaries are too rigid we lose out on other areas that make our life rich. We need to find a balance where we are giving proper energy to all areas of our life so we can live abundantly, not just rich.
If this resonates with you, I am happy to talk to you and take an outside look at your goals and the other aspects of your life that are important to you so you can have a fresh perspective. You can contact me HERE.
Remember, financial boundaries aren’t about restriction; they’re about empowerment. So, show your money some love, find that sweet spot between spending and saving, and enjoy the journey toward financial well-being!
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