You may have heard someone say “I live by my mantra.” Perhaps you even have a friend who uses a money mantra to help curb her spending habits.
About now, you’re probably wondering what the heck these people are talking about and if you have to be a New Age guru to get one of these so-called mantras. Don’t worry. We’re here to explain exactly what a mantra is and how it can help you better manage your money. And, here’s the best part: you don’t have to live in a himalayan cave to have a mantra.
What’s a Mantra?
A mantra comes from the ancient Indian language called Sanskrit and is basically a grouping of sounds or words that are designed to heighten your awareness or consciousness. Thanks to the rise in popularity of yoga and meditation, mantras are commonly used to help calm the monkey mind and raise your vibrational energy, according to Yoga Journal. By repeating a mantra over and over again, either in your head or out loud, your mind focuses on the sounds or words rather than your scattered thoughts or negative self-talk.
Choose Your Money Mantra
Ok, now that I have your attention, your next question may be: can a mantra really help me improve my finances? The answer is yes. By repeating certain positive money mantras, you can hopefully attract more abundance into your financial life.
Want to give it a try? Check out these 4 money mantras and pick the one that resonates best with you.
1. I can save more money.
If you’re one of those people who thinks there’s just no way you can start saving money, this may be the ideal mantra for you. Even if you don’t earn a ton of cash, where there’s a will, there’s a way. For starters, you can open a Chime Checking Account and begin automating your savings. By simply using your Chime debit card, each transaction you make is rounded up and that amount is deposited into your Savings account. Not only this, but Chime will also deposit a percentage of each paycheck into your savings account.
Better yet, your save more money mantra will encourage you to continue socking cash away for your goals. Before you know it, you’ll have amassed your first $500 in savings – without even thinking about it!
2. I deserve financial abundance.
Despite how you were raised and what your money story is, you deserve financial abundance. In fact, it’s quite likely that you grew up in a family where money was tight and your parents believed they would never have enough. This may be the root cause of your scarcity mindset. On the other hand, you may have been raised in a household where your family had a general distrust of money and banking institutions – leaving you with a sour taste in your mouth when it comes to saving and investing in your future self.
If either of these scenarios resonate with you, it’s time to adopt this financial abundance mantra and rewrite your money story.
3. I can earn more money
If you feel like you’re in a dead-end job or never going to earn enough money, this is the mantra for you. You have the power to change your situation. You just need to believe that you can earn more money.
For starters, are you making as much as you deserve at your current job? If the answer is “no,” perhaps it’s time you asked for a raise. In fact, you may be able to negotiate 10 to 20 percent more than you’re currently making. What have you got to lose?
Even with a raise, however, you may feel like it’s still a struggle to make ends meet, let alone pay off your debt and save for your goals. If this rings true, it’s time to get creative and come up with new ways to supplement your income. For example, you can start an easy side hustle using apps like Uber, Lyft, and Wag! Or, you can get inspired to launch a new business outside your work hours.
Take it from me, the possibilities are endless. In 2016, I launched an online school for my kids yoga business, Pretzel Kids. In a nutshell, parents, teachers, yogis and fitness enthusiasts around the globe can enroll in the affordable Pretzel Kids Teacher Training course and become certified kids yoga instructors – in less than 10 hours. While this gives others a lucrative side hustle opportunity, I earn passive income – often while I’m sleeping – each time someone purchases a course.
4. I spend money wisely and am grateful for my choices
Are you the type who questions every purchase you make? Do you go on spending binges to try to cheer yourself up and then regret it afterwards? Do you deprive yourself of going out with friends because you think you can’t afford it – only to sit inside alone?
If you fall into one of these camps, you may be an overspender or frugal to a fault. So, what can you do, besides chant the spend money wisely mantra?
For starters, try developing healthy money habits. From there, create a budget and stick to it, factoring in money for savings and spending – both on yourself and others. By spending money mindfully, you’ll actually be happier and feel good about what you purchase. From there, you’ll begin to flip your money mindset to one of abundance and gratitude.
How to Work With Your Money Mantra
Now that you understand how a money mantra can help you achieve financial zen, it’s time to pick one of the above mantras or come up with your own.
Once you have chosen a mantra, commit to repeating it for about five minutes each day. You can sit in a quiet space, close your eyes and focus solely on your money mantra for a solid five minutes daily. Or, you can make it even easier by repeating your mantra in your head on your way to work, when standing in line at the supermarket, or when you feel yourself getting stressed out about money.
The goal is to shift your money mindset from the negative to the positive, thus inviting prosperity into your life and encouraging you to achieve your money goals. After you’ve worked with your mantra for a solid month, you can either continue or perhaps select another mantra that suits you better.
And, remember: your mantra isn’t going to lead you to a pot of gold. You have to be the one to step up your game when it comes to improving your finances. With that in mind, here’s another money mantra to help you reach your goals: You can do it!
This page is for informational purposes only. Chime does not provide financial, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal or accounting advice. You should consult your own financial, legal and accounting advisors before engaging in any transaction.