I’m making money, but I’m not getting ahead financially? Where is my money going?

If I see money in my checking account, I will spend it.

I make sure that my bills are paid, but after that, I don’t know what to do with my money.

These phases are all too familiar. And it is often a result of not being intentional with your money.

What Does It Mean To Be Intentional With Money

Intention can be defined as acting with a purpose, aim, or goal. It is a conscious, deliberate action that reinforces what you desire to achieve. Being deliberate with your money means you are crystal clear on why you are spending money, what you are spending it on, and how it aligns with your financial vision. It is the opposite of whimsical spending just for fun or because it is on sale.

Benefits of Intentional Spending

Intentional spending has several benefits that those who follow its practices can enjoy. Setting an intention for your money provides greater clarity on what you should be doing with your money in advance. It can remove unnecessary stress and anxiety in trying to make real-time decisions. It’s like knowing the playbook before you play the game. You know the winning strategy, now all you must do is execute.

Setting your money intention may require some time upfront, but it will save you more time and money on the backend. How? Because the fewer decisions you have to make on the fly, the more energy you can direct towards other priorities. Also, you have already outlined what you must do.

Marketers spend millions of dollars to develop your intention and hold your attention. To build wealth for your family, you must set your intention because if not, others will create an intention for their benefit.

How To Be More Intentional With Your Money

1. Create a Financial Vision

Without a vision, the people perish.

Proverbs 29:18

This applies to your money as well. If there is no financial vision, your money will perish. Dollars with no direction is a recipe for financial stagnation or worse, financial decline.

The great news is that it is never too late to create or update your vision. Our greatest power is our ability to choose what decisions we make and what behaviors are needed to create the life we desire. Do not give away your power because it seems “impossible”, because it isn’t.
Your first step is to document what is important to you now and in the future. Evaluate what your values are and what they need to be to achieve your financial goals.

Write down what you want. Do not worry about what others believe you could have or should have. Create your vision and identify what values you need to cultivate to make it a reality.

 

2. Create Your Intention & Write It Down

When you set your intentions, your thoughts and actions must align with what you want to achieve. What you think consistently influences your actions, so it’s critical that you keep your thoughts on what you want to achieve and nothing else. Any doubt or negative thoughts will distract you from your intentions. 

When deciding what you want to accomplish and state it in the present tense. Only speak as you are doing it now. That will reinforce to your brain that you should be aligning with this now and not in the future.

Here’s an example of a future intent vs. a present one:

I will use my money to buy things that align with my values and spark joy.

versus

I use my money to purchase items that aligned with my values and spark joy.

Small change. Major difference.

It’s important to speak things as you want them to be now. This may take some getting used to, but you will get the hang of it with consistent practice.

Here are some examples to get you started with setting some financial intentions.
– I use my resources to build wealth for myself and my family.
– I am conscious of my money and how I spend it. It is a very deliberate act
– I direct my resources to where they need to go.

You can use some from this list or create your own. Just ensure that it aligns with your financial vision.

The Importance of Writing Down Your Intentions

Writing down your vision and your intentions reinforces your commitment to achieving your goal. While our brains are amazing, in the beginning, we do not want to rely on memory alone.

Why?

Because when we are first creating a new thought or behavior, we must reprogram our minds to change the behavior. If not, it will recreate your previous behaviors. Writing down your intentions helps to change the old programming to the new. And truthfully, writing it down is an intentional action.

After you write down you intention, post them in a space(s) where you frequent the most. Copy them to index cards and place a card in your purse, on your wallpaper on your smartphone and laptop. Create a reminder on your phone that notifies you throughout the day. Get creative. The goal is to make your intentions apart of your everyday life. Keep the intentions clear and easily accessible.

 

3. Clarify Your Obligations and Money You Have Available

Understanding your financial numbers gives you a clear picture of where you should spend your money. It helps you understand what your obligations are and what resources you have available to use. Your money should align with your values and your priorities. If you intend to pay your bills on time (which should be a foundational goal), then you must prioritize paying your bills on time or early instead of delaying the payment to purchase a new outfit.

You should know what your obligations are and what you have available to spend upfront. This should be a proactive exercise as you are creating your budget for the month. While I understand people do not like budgeting, having a plan upfront saves you unnecessary decision making and keeps you on track with your intentions. Every dollar has a responsibility and will be used to satisfy what you need it to.

The key is to not let your money run amuck.

 

4. Decide What Aligns With Your Intention in Advance

The word ‘decide’ means to cut off.

When you decide, you eliminate everything that is outside of that decision. Since you don’t live in a bubble, you will continue to be bombarded with enticing advertisements that are outside of your intention.

Determine in advance how you will respond.

If it is outside of what you intended to do with your money this month, stand firm with conviction that it can wait. A delay is not a denial. Just plan for it.

Tune Out Others
Even when you reduce the noise from advertisers, family and friends can unintentionally distract you from your goals. Keeping up with the Jones does not have to be a things for you. Not caring about what other people think is a skill that can be developed and practiced to stay on track. People will have comments about the new way you are handling your money. Some may support you; some may question or doubt. And that’s ok.

Let them handle their money the way they want to and you manage yours as you planned.

Filter new transactions through the questions below:

– Is this helping me achieve my financial goals?
– Do I need this RIGHT NOW?
– What other obligations do I need to take care of first?

 

5. Reinforce Your Intention Frequently

Any time you are starting a new habit, you will have to reprogram your brain to respond differently. Make it a priority to review your intentions regularly. In the beginning, it is good to review your intentions at least once a day to reinforce your plan for the week. Remember, marketers have an intention daily, so you must be clear and firm on your goals so that you are not easily distracted.

Another great practice is to schedule time to review your finances at the end of the month to review your transactions to identify areas where you were in alignment with your intentions or veered off track. Celebrate your financial wins and remember what you did to stay on track. Review your intentions at least once a week, but is a better practice to review them daily.

Check out 5 Areas You Should Check During Your Financial Review

 

6. Express Gratitude For The Journey

Gratitude is an appreciation of what you currently have and for where you are going. Be grateful for the journey. If you can read this, you are already blessed and have something to be grateful for.

Every test that you overcome is an opportunity to teach others before they encounter the same experience. If you continue to experience the same challenge, be grateful for another chance to get it right this time.

Be kind to yourself and enjoy the journey with intention.

If you love to help others, share this article with your family and friends so they can become more intentional with their money as well.