Healing Money Trauma: A Holistic Approach to Financial Empowerment for Women

September 18, 2023

Most of us want to develop a healthy relationship with money, but our deeply rooted money issues can make it difficult. 

Healing Money Trauma: A Holistic Approach to Financial Empowerment for Women via @therealcoopergillespie
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Your fierce and supportive trauma-sensitive money mentor. My mission is empowering women to build prosperous, fulfilling lives so they can feel abundant and free.


Healing Money Trauma

Healing Money Trauma: A Holistic Approach to Financial Empowerment For Women

Most of us, regardless of age or financial status, sometimes struggle with money trauma. We want to develop a healthy relationship with money, but our money issues are deeply rooted, often driven by past pain, societal pressures, and generational beliefs. 

We get stuck wondering things like, “Why can’t I manage my finances confidently?” or “Why does money always feel like a source of stress?.” 

When you’re unsure what to do, it’s hard to move forward. 

The good news is, you can easily bring order to the chaos by understanding and healing your relationship with money.

In this post, I’ll define money trauma and provide 3 key strategies to help you navigate your financial journey. I hope this will give you a roadmap for healing your relationship with money so you can experience financial well-being and abundance.

What is money trauma?

Money trauma is a complex emotional and psychological response to negative experiences or beliefs associated with wealth, earning, and spending. In other words, it’s a hidden barrier that keeps many of us from achieving our financial dreams and is rooted in systemic, generational, and even past life issues.

It can look like:

  • Undercharging for your services because you’re afraid if you charge more, people might not hire you
  • Always feeling like you have to hustle
  • Feeling like there’s never enough money, even when you are doing well
  • Avoiding checking your bank account because you’re afraid of what you’ll see
  • Overspending or shopping compulsively, even when you don’t have the money
  • Underspending because you’re afraid you might lose the money, or it might be taken from you
  • Never throwing anything away because you “might need it one day”

The good news? You’re not alone, and recognizing and addressing money trauma can open doors not just to financial success but also to emotional and financial safety and well-being.

Component #1 – The Emotional Understanding of Money

How we feel about money is influenced by the societal systems and cultural norms in which we live. This is a crucial component because our emotional alignment (or misalignment) with money influences our financial outcomes, and understanding this has the capacity to shift our relationship with money from one laden with stress to one filled with empowerment and clarity.

Moreover, recent findings in epigenetics have shown that significant emotional events can leave an imprint on our DNA, which means our financial emotions might not just be our own. Generational traumas could be influencing your current relationship with money. Recognizing and healing these deep-rooted emotions is essential because they play a defining role in our actions and decisions concerning financial health and wellness. It’s also important to note that epigentic alterations can be reversed.

Many who begin their journey of financial empowerment overlook this key aspect and find themselves stuck by the compounded emotional weight of past mistakes, societal judgments, inherited traumas, and deep-seated fears. 

They may focus solely on practical financial skills, unaware that there is an underlying emotional component to their relationship with money that is out of sync with their goals. And then they wind up stuck in recurring unhelpful financial patterns — even if they’re earning well — and reverting to old, unhelpful habits, feeling trapped in cycles of financial self-sabotage. 

The key to charting a path to a healthier financial future lies in confronting and processing these layered emotions. Begin by journaling about your most significant financial memories. Reflect on the immediate emotions, but also be open to the possibility of deeper, inherited emotional wounds. 

This exploration can provide insight into understanding both your personal and generational emotional patterns related to money, setting the groundwork for profound healing.

Component #2 – The Spiritual Layer of Money

At its core, money is not just currency, but a tool that can help us realize our deeper purpose. It’s deeply intertwined with how we perceive abundance, gratitude, and worth in a spiritual sense.

If you’ve spent hours budgeting, saving, and strategizing, but you still feel like your financial well-being is a pipe dream, it might be that the spiritual component of your money relationship is misaligned.

Without addressing this spiritual bond, you can make all the right financial moves on paper, and still not feel truly fulfilled or at peace with your financial situation.

What can you do?

A really useful technique for reconnecting with the spiritual essence of money is practicing mindful reflection or meditation centered around abundance. This involves setting aside quiet moments to contemplate your relationship with money, understanding its role not just in your practical life, but in your journey to find meaning.

Explore what’s important to you and your beliefs around abundance, scarcity, and worth. By doing this, you align your actions with your core values and what truly brings you fulfillment, paving the way for a more rewarding financial journey.

Component #3 -The Practical Aspects of Money Management

Taking concrete steps to ensure your financial well-being mirrors the healing journey you’re on. Here’s where you translate emotional and spiritual growth into direct financial actions and stability.

The practicalities can be overwhelming, so it’s beneficial to divide the process into manageable tasks.

The strategy to navigate this effectively is:

  • Educate Yourself: Familiarize yourself with fundamental financial concepts. Various online tools, courses, and books are available for this purpose. Find ones you like and explore! I’ll recommend some in future posts.
  • Cultivate Spending Awareness: Before diving into budgeting, start by tracking your expenses. This doesn’t necessarily mean cutting back, but rather being mindful and understanding where your money goes each month.
  • Seek Support: Consider consulting a financial advisor, working with a financial coach, and participating in financial well-being groups. Such spaces can offer both guidance and understanding.

By incorporating these steps into your routine, you’ll progressively build a more secure and empowered relationship with money.

Putting it All Together for Financial Healing

There you have it! Three steps that can help you on the path to healing your money: understanding the emotional component, aligning with it spiritually, and mastering the practical aspect of managing your finances. 

It’s a journey, but with determination and the right tools, financial empowerment is within reach. And, as you embrace this holistic approach, you’ll not only gain control over your finances but also foster a deeper, positive connection with money.

What’s next? Enroll in the Money Healing 101 Workshop

To continue this work and set the foundation for your financial healing, join my Money Healing 101 workshop. It will equip you with tools, insights, and a supportive community, helping you pave the way to financial well-being. Don’t let past money traumas dictate your future. Take the reins and create the abundance you deserve.

Money Healing 101 Workshop
Money Healing 101 Workshop
Healing Money Trauma: A Holistic Approach to Financial Empowerment for Women via @therealcoopergillespie

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