The Psychology of Money: Attracting more prosperity

by: Kris Kirilova

Kris is a counselor & owner of Career Life Choices – a counseling practice in Arlington Heights, IL.

In today’s article we dive deeper into the psychology of money, and  its meaning and impact on your life. How do you attract more prosperity? This blog was suggested by my good friend and financial advisor, Angel Sapundzhiev. So I put together some insights from a psychological perspective.

QUESTION #1: Tell us about the psychology of money, and how it affects our financial well-being?

As a first step, become aware of your relationship with money, and how it affects your choices and decisions. Some people love money for the things it allows them to do, and others like to spend it, or save every penny as a way to feel more “secure”. We form our ideas and beliefs around money in our family of origin, and early experiences.

–> Think about what money means to you and what it allows you to do? Does it give you more security, higher self-esteem, more power or independence?

–>What attitudes and emotions do you have about money today? Fear, worry, love or joy? How are these influencing your financial strategy?



 QUESTION #2: What pitfalls should people avoid when they think about money?

If you find yourself paralyzed about your investments or keep transferring money between accounts, step back and reflect on what’s is going with you. Are there any beliefs that may be sabotaging you? If you’re making decisions from a place of fear and self-doubt, that’s never a good indicator. Your relationship with money is not just about money – it is about yourself, and issues such as fear of failure, fear of loss or fear of success.

QUESTION #3: Kris, could you talk a little more about abundance vs scarcity mentality?

I strongly believe in prosperity and having a positive mindset. This means being open to abundance which attracts and creates more of that. If you focus on negativity and scarcity, you receive more of the same. If you’re constantly afraid and insecure, it is difficult to envision yourself as a successful and prosperous person. Believe in abundance – believe there is enough money, health, prosperity for all of us.

QUESTION #4: What are some helpful tips and mindset shifts you can do to attract more prosperity in your life?

Assess your motivation or desire to attract more money? What is most important to you – financially and personally? Are you thinking about having kids, buying a house, traveling, saving for retirement or college? Become aware of your intentions, and open yourself up prosperity.

Become aware of the money beliefs you were taught, and the ways you view the rich. –>Do you believe you deserve to have prosperity in your life? – If not, how do you expect to have it?



–>Focus on shifting your self-talk and find a way release any negative beliefs – whether it is through therapy, meditation, exercise or listening to motivational talks. Notice when fear shows up, acknowledge it and see if it is something you want to change. New habits take some time to develop, so seek help when you need it.

I encourage clients to develop a vision board and use collages as a way to envision your dreams and desires. Choose magazine photos and pictures to represent yourself and future life, and revisit this place often.

QUESTION #5: Which one would you say is more important – financial knowledge or proper mindset when it comes to managing your finances?

Financial knowledge and proper mindset go hand in hand. Most of you know about managing your money – less credit card debt and saving 10% of your salary but a lot of you feel paralyzed when it comes to making decisions. It comes down to balancing the financial and emotional side. That could be fear of failure, ignoring your debts, poor financial planning, or being in toxic relationships.

You can certainly work with your financial advisor to put together a sound plan and structure for saving and investing for the future. If you’re overspending or you have a partner who is not on the same page with you, focus on resolving these challenges.

QUESTION #6: What suggestions do you have for couples who are newly married and combining their finances and goals?

Money is a complex subject, and it carries a different meaning to each of us. When couples merge their lives, many struggle to define how to budget, save, and invest. Money becomes a source of disagreements, and it affects how they feel about each other. Each partner has different attitudes and beliefs about money, and expectations about lifestyle and saving. These issues could be even worse if one of them is secretive, withdrawn or afraid to disclose their real financial situation. Being able to openly discuss your attitudes and financial aspirations with your partner is extremely important.

QUESTION #7: Finally, what would you want our readers to be left with and what can you help them with to make positive changes in their lives?

As you consider your financial goals, think more broadly about your life and the journey ahead. Focusing just on money or work is not a good way to create prosperity. It is really about thriving in different areas, feeling whole and living a vibrant and rich life. If you only focus on creating wealth and ignore work-life balance, and family – then it would be hard to have a fulfilling life. Your strategy should involve caring for yourself, caring for your finances, relationships, and overcoming obstacles in healthy and pro-active ways.

“I am open and receptive to the abundant flow prosperity that Universe offers.” – Louise Hay

Kris Kirilova LCPC, owner of careerlifechoices.com,  is a counselor in Arlington Heights, IL.  She helps people develop a renewed sense of self, optimism, and address the challenges of life transitions, career changes, and work-life balance.

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