using cbt to feel good with money

Personal finance and boring ol' money apps can feel pretty one-dimensional, or outright unhelpful. Life can be stressful and feel ever changing. So cultivating a strong sense of financial awareness and wellbeing has never been more crucial. Now, we all know just how stressful money can be. Not understanding our money, or feeling out of control with our money, leads to feelings of stress, anxiety, and even long-term financial difficulties.

While the standard financial education methods have their merits, a rising star in the field of building financial confidence and awareness is Cognitive Behavioral Therapy (CBT). There are some pretty simple, easy to adopt concepts introduced in CBT that have shown to be super effective when it comes to enhancing financial literacy. 

Just a few of these strategies include:

1. recognizing unhelpful thought patterns

Low-intensity CBT strategies encourage individuals to identify and challenge unhelpful thought patterns that may hinder their financial awareness. By becoming aware of negative thoughts like "I'll never be able to save enough" or "I'm not good with money," individuals can re-frame these thoughts into more positive and empowering beliefs, such as "I can take small steps towards saving" or "I'm capable of learning and improving my financial skills."

2. promoting mindful spending

Mindfulness is one of the key aspects of low-intensity CBT strategies. Individuals can become more aware of their spending habits and make conscious choices about their financial decisions using mindfulness techniques. This includes being present and in the moment while making purchases (including those 2am Urban Outfitters purchases), considering the short and long-term impact of their spending, and distinguishing between needs and wants.

3. self-awareness and goal setting

A cornerstone of CBT is self-awareness – understanding one's thoughts, emotions, and behaviours. Applying this principle to personal finance encourages individuals to assess their financial situation, identify strengths and weaknesses, and set realistic goals. By becoming more attuned to their unique financial landscape, individuals can make informed decisions aligned with their needs, wants, goals, and aspirations.

so what?

If this all feels a little daunting or you find yourself wondering how to put this all into practice, we've built an app for it all.

The synergy between psychology and personal finance paves the way for future that is less stressful, more positive, and offers much more personalised and catered support. At Good With, we incorporate these key principles in our approach to building financial knowledge which combines money management and mental health to provide a holistic learning experience for our users. As a psychologist-backed app, we aim to bring personalised learning experiences when it comes to the intimidating world of money and mental health. 

building self confidence like this

Our app includes psychoeducational (aka nothing like school) lessons on mental health for better financial wellbeing, as well as getting the breakdown of complex money terms in simplified, useful chunks (and cutting out the unnecessary fluff). Everything in the app has a psychology and mental health focus, from mood vs spending tools, to budgeting tools, to more. All to support you in maintaining, managing and overseeing your progress in all aspects. This helps you to know the stuff worth knowing about your money anytime and anywhere, at your own pace.

combining the best of cbt principles and ai to make adulting a little less stressful

Through a combination of behavioural insights, emotional wellbeing support, customized goal setting, and decision-making guidance, as the users of this app you will be equipped with the tools needed to navigate life with confidence and resilience. Whatever you want to feel good with, you can do it all with Good With.