Money is a huge part of our lives. From working five days a week in order to make it to spending it on bills and groceries to sending it to friends and family using a money transfer service like Remitly, it permeates nearly every moment of our lives. Unfortunately, very few of us do the work to make sure it is a source of positivity and not negativity.

The way you feel about money can greatly affect your health and well-being. Follow these five tips and you can build a healthy money mindset that will have a positive effect on your life.

Are You a Spender or a Saver?

Start by identifying if you’re a spender or a saver. Either of these mindsets can cause trouble for you, whether that trouble shows up now or later.

If you’re a saver, you may not feel like you have enough to go around. If you’re a spender, your relationship with money will definitely suffer when your credit cards are maxed out.

By identifying your money spending method of choice, you can determine if you need to have a more open attitude towards money, or a more conservative view towards money.

Don’t Compare Yourself to Others

No matter what your spending style, we’re all guilty of comparing ourselves to others, especially when it comes to money. That can be very bad for our mental health.

Comparing yourself to others:

  • Can greatly damage your sense of self
  • Is most likely inaccurate
  • It won’t help you accomplish your goals

If you strive to live your life the way you see someone else living theirs, you’re setting yourself up to chase a carrot on a string. Not only do you not know if they’re using credit cards to fund their big spending habits, you also don’t know their circumstances. For example, it is unfair for you to compare yourself to a family that inherited most of their money from a deceased loved one.

Break the Association Between Money and Success

Nearly everyone equates money with success. It’s true that money can be an indicator that you’re doing something right, but there are plenty of people out there who are successful without making tons of money every year.

Instead of using your bank account to determine your level of success, find other ways to feel successful. Focus on being a good mother, painting, or anything else that gives you a sense of accomplishment. Volunteering is another way to feel successful.

Become rich in friendships and set goals that don’t have anything to do with money and you’ll find yourself less stressed about it.

Take Control of Your Budget

In many cases, not only do people have a bad relationship with money, their relationship with money is completely inaccurate. You may feel like you don’t have a lot of money, when you actually do, or vice versa.

That’s why it’s so important to create a budget. By writing down everything you spend your money on each day, you can discover exactly where it is going.

For example, you may have a negative relationship with money because you always seem to run out at the end of the month. But, after tracking your spending, you realize you spend way too much money on coffee in the mornings. By adjusting your morning spending habits, you might even discover that you have enough left over at the end of the month to put into your savings account.

Stay Positive

It doesn’t matter how much you make, it can be difficult to stay positive about money. You might be living paycheck to paycheck, you might be worried about the stock market crashing, or you may have gotten a surprise bill in the mail.

No matter how sad the situation seems, you have to stay positive. After all, you could spend all your time worrying about your finances only for your worries not to manifest. What a waste of time!

One way to stay positive about your finances is to set some goals. Whether your goal is to spend less money on coffee in the morning, save a certain amount each month, or pay down your credit cards, it’s a lot easier to stay positive about money when you feel like you’re in control of your finances.

It isn’t always about the money in your bank account. Instead, your money mindset is what could be causing all the financial problems in your life. With these tips, you can build a positive relationship with money so it no longer causes you to lose sleep at night.