Time to tap into money mindfulness

Lea Schodel is person on a money mindfulness mission to help financially disadvantaged women

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What do you get when you cross a yoga teacher with a financial adviser? The answer is a whole lot of money mindfulness.

Lea Schodel is both of those things, and as a result, is the driving force behind a more mindful approach to money.

Lea recently wrapped up a crowdfunding campaign, raising money to provide mindful wealth and financial literacy workshops to disadvantaged women.

And she still found time to share some of her thoughts with us.

What prompted you to marry mindfulness with wealth?

As a financial planner, I completely understand the need for the technical knowledge and skills required to manage money well.

But to me, this is only half of the skillset required to have a healthy relationship with money.

Our thoughts and feelings will either support or sabotage the actions we take with our money.

They can either support us or limit us when it comes to earning, keeping and growing our wealth.

Why did you decide to build it into a social enterprise?   

Money has such an impact on all areas of our lives.

Having a good relationship with money and knowing how to manage your finances is fundamental to wellbeing as well as the ability to live healthy, balanced and stress free lives.

I’m on a mission – to help women create a conscious and purposeful relationship with wealth, help them take control of their finances and allow them live happier, healthier and wealthier lives.

What stories do you see women often sabotaging their finances with? 

Money is so fraught with emotion.

Fear, guilt, shame or embarrassment often prevent women from seeking help or even taking the next step to gain control of their money situation.

Many women are completely disconnected from their future selves, too busy living in the now to consider the impact that their money decisions today may be limiting their opportunities for tomorrow.

If you want to start practicing mindful wealth, where do you start?

The simplest way to begin is by starting to notice how money is flowing in and out of your life.

Whether it is quick to earn and easy to spend, whether you are hanging onto it too tightly, whether you are oblivious to how much you earn, spend, own and owe.

From this place of awareness, you can begin to notice how your emotions and habits may be driving your relationship with money.

The way to “buy happiness” is to spend the money you do have, on the things that you value most in life.

If you know what you truly value, then you can begin to use the money you do have to bring more of that into your life.

What if you’re partnered, and your partner isn’t on board? How do you manage that?

In any partnership, it’s important to recognise that we all have a unique money personality, experiences, values and habits.

If you’re not on the same page as your partner when it comes to your finances, the first place to start is with communication.

If you can’t communicate with each other without arguing, then it could pay to see a financial counsellor or money coach to begin the conversation in a neutral environment.

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