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Deep and Honest Conversations About How Money Affects Our Well-Being

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By Sarah Li Cain 14 Comments

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I Wrote in a Money Journal For 30 Days. Here’s What Happened

Do you wish you can save more money? Or heck, earn enough so you can finally quit your soul sucking job? Or finally pay down your debt?

The problem isn’t that you can’t solve these problems. You know what you want. It’s just that you can’t seem to get out of your own way.

Maybe there’s not enough time in the day to sit down and look over all your financials.

Maybe when you do, your kid decides to scream on the top of your lungs, you lose your train of thought.

Maybe, just maybe, you’re so tired (like deep-down-in-your-core tired) that it takes all the effort you have to even wake up, let alone find the time to do your own thing.

The truth is that change is hard. Sometimes, too hard. I know I have days where I wonder how I’m going to get it all done. In fact, I burned out halfway last year. It was as if I would take one step forward in my finances, then I would have to take two steps backward.

Enter, the Money Journal Experiment

I was desperate to find a better way, so I forced myself to sit down and carve out some time to think about my financial life. Granted, I do check my bank statements and talk about with my husband, but I wasn’t giving myself enough time to think about the way I was earning my money and any residual negative feelings I had about certain events that happened last year.

I started aimlessly browsing on Medium and came across Benjamin Hardy’s post about how journaling can change your life (by the way, this man is everywhere, or is it just me?). In it, he talks about the different ways you can just journal to transform your life.

Yeah, I thought it was a load of crock too.

I’ve written journals many times before and always abandoned it. I was a few seconds from leaving the post when I read this:

Your journal is not only where you record your insights and inspiration, but it’s where those insights become solidified and real. Your journal is where you begin thinking deeply about your insights and ideas, and where you strategize and plan the execution of those insights and ideas.

*ding!* A light bulb went off in my head. What if I use a journal to only write about my thoughts on money? Could this be the answer to my anxiety?

Yes, I have a pretty good process down when it comes to bettering my money mindset, but I felt like I was stuck in a rut.

What did I have to lose by trying out journal for 30 days?

The Exact Steps I Took

First, I got a journal (sorry, feeling cheeky today). I had a ton of proofs from when I launched my money coloring notebook, so I thought it’d a good one to use for my experiment.

I’m not going to make you read through Benjamin Hardy’s blog post, so I’ll just mention which bits and pieces I used:

  • I meditated for 5 minutes or listened to a song I liked
  • I just wrote about any thoughts about money that came to mind for a minimum of 15 minutes. Sometimes I’d pick a random theme (like creative ways to earn more money on the side) but most days, it was a free for all
  • Afterwards, I forced myself to write down 3 things I was grateful for. I made a rule that I had to write 3 different things every day. One has to be a tangible object or experience.
  • Every week (or more often if I’m feeling inspired)

As with any experiment, you just have to find the time for it. It sounds totally bonkers, but I knew the only way I would follow through with this habit is to do it in the morning. Those who know me know that I wake up early to do yoga and read. The only way I could really squeeze journaling is to wake up at 4:30 am. No, that’s not a typo.

What I Learned

I’m not going to bore you with everything I did in those 30 days, but it essence it changed my life in more ways than I could have ever imagined. I loved the process so much that I plan on continuing this experiment for the foreseeable future.

As for what I learned, boy, were there a ton! I like think of myself as a pretty positive person, but writing down my thoughts about money brought on so many situations and thoughts about my inadequacies with my finances. Reading back on some of these entries, I was shocked at how negative my self-talk had been. No wonder I wasn’t feeling too confident about my finances!

I also noticed at after my journaling sessions that I felt lighter. I realized that I had been holding so much in and didn’t have anyone to really talk though some off the issues I was facing. The money journal became my confidante, a place to share my deepest darkest secrets.


There was one project in particular I was afraid to start last year and I wasn’t sure why. Through the journal process, I realized it wasn’t a fear of failure, it was a lack of clarity that led me to be so afraid. Because of that, I scheduled out a few hours within the next week to envision what it is that I really wanted. Lo and behold, a few weeks later, I met Garrett at a conference who would convince me to launch this new project with him (aka this podcast).

Releasing these negative feelings inspired me to start writing about every negative money situation I was in. Yes, I talk about this extensively in my free e-course, but I wanted to go even deeper, even revisit some past situations I thought I released. 

I started crying after a journaling session when I wrote about a family situation that happened over 10 years ago. I reread the passage I wrote over and over again and worked on forgiving the person, myself and the whole situation until the emotional charges were gone.

Perhaps the coolest benefit of all is that it increased my feelings of “enoughness” when it came to my finances. I’ll admit, I took my amazing life for granted. Halfway throughout the journaling experiment, I tracked every single penny every day that came in, whether it was a gift or straight up money. Keep in mind I do track my income, but not at this level.

I noticed within two weeks my income just kept growing, so much so that I ended having to say no to quite a few opportunities (I know, a good problem to have, right?). As I kept getting more clarity, forgiving and releasing the negativity and looking obsessively at the numbers, I reached two milestones in my business: finally making five figures a month and working with a dream client I’ve been in talks with for a year.

There’s so much more I could say about this, but it’ll end up being an entire novel if I do 🤣

Just Start

Even I’m shocked still how money journaling gave me so much clarity and a renewed sense of confidence around my money. I’m confident it’ll do the same for you. As with any habit, just start small and see where it takes you. Who knows, it could change your life just as much as it did mine.

Being a badass with your money is as easy as asking yourself what you want.

Download our values-based spending guide and figure out how to revolutionize your financial decisions ASAP.

(psst...we also send you occasional emails on how else to live beyond the dollar. You in?)

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Sarah Li Cain
Sarah Li Cain is a finance writer, author and holistic money mentor who has appeared in places like Nerdwallet, Discover, Redbook, Stacking Benjamins and Her Money podcast with Jean Chatzky. Her work blends practical tips and mindset strategies so that those trying to change their financial life can see themselves in the starring role.
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Filed Under: Blog, Money Mindset

Reader Interactions

Comments

  1. Ntathu Allen says

    February 17, 2018 at 4:29 am

    ohhh, thank you, Sarah, am going to do this.

    thank you.

    Reply
    • Sarah Li Cain says

      February 18, 2018 at 2:13 pm

      Cool! Let me know how it goes!

      Reply
  2. Mrs. Groovy says

    February 21, 2018 at 1:30 pm

    That’s very interesting about the project you hesitated to start — that it wasn’t due to fear, but lack of clarity. I find it hard to take action when I’m unable to figure out the steps, or at least the first few. I jump to “why bother?” because it’s frustrating.

    Reply
    • Sarah Li Cain says

      February 21, 2018 at 3:49 pm

      Yeah, I was really surprised as well. I’m usually the one who maps stuff out like crazy. It’s amazing how journaling can work!

      Reply
  3. Mrs. Adventure Rich says

    February 22, 2018 at 3:12 pm

    I’ve been toying with journaling for years now… you may just be the one to push me over the edge 😉

    Reply
    • Sarah Li Cain says

      February 22, 2018 at 4:13 pm

      Doooo ittttttt……….

      Reply
  4. Chonce says

    February 27, 2018 at 4:48 pm

    I can’t imagine trying to wake up at 4:30am! It’s a hassle to wake up at 6am lol. But thanks for sharing this, I do think I’m going to try it too!

    Reply
    • Sarah Li Cain says

      February 27, 2018 at 4:56 pm

      I’ve been experimenting with 4 am, but to be honest, I’m not doing so well lol!

      Reply
  5. Gena Gilcrease says

    March 7, 2018 at 9:01 pm

    I came to this site via Earn More Writing. An inspiring story! I want to try it. My site is elevatingstories.com. She what you think.

    Reply
  6. Natasha says

    April 7, 2018 at 2:48 am

    I have journaled on and off for years, but never solely about money. I also found this life changing and noticed that when I journaled about problems, they would either solve themselves or a solution would appear. I’m going to start one that is purely money related – you’ve given me so much inspiration! Thank you x

    Reply
    • Sarah Li Cain says

      April 8, 2018 at 2:08 pm

      I’m glad you’re going to start one! Do update me on how it works out for you. I’m due to write an update post myself 🙂

      Reply
  7. Hope S. says

    April 18, 2020 at 7:51 am

    Thank you so much for sharing your experience with us. I’ve journaled before, but I’ve never had a money journal. I think I will try this. I have nothing to lose, but so much to gain. 😊

    Reply
  8. ganranwei preye eseoghene says

    May 15, 2020 at 2:03 pm

    i am indeed grateful for this write up, i wish i get all the basic understanding i need to start up,that i will always appreciate.thanks

    Reply
  9. Agness Nyirenda says

    May 15, 2020 at 5:54 pm

    Thank you so much,this is timely!

    Reply

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