If someone asked what your money values were, would you know how to answer? Or would you find yourself searching for a response and coming up blank?
Our values are a key part of who we are, yet we often don’t take the time to intentionally think about, define, and understand them—especially when it comes to money.
For anyone looking to transform their relationship with finances, figuring out your money principles is a great first step. Let’s explore what money values are, why they’re essential, and how to identify and live by them.
What are money values?
In short, money values are the beliefs and principles that shape your relationship with money, whether consciously or unconsciously. They represent your “why” when it comes to financial decisions—why you save, spend, invest, or give the way you do.
Your money values influence the decisions you make about budgeting, saving, investing, and even giving. When you align your financial choices with these values, your life feels more intentional and fulfilling.
When I first started thinking about my money values, I realized I’d been living by some subconscious habits without ever questioning them. For example, I had a habit of saving aggressively—sometimes to the point of guilt when I spent money on myself. Growing up, my parents often talked about the importance of saving for a rainy day, and I internalized that deeply.
But as I reflected on my values, I realized that while I value security, I also value experiences and self-care. I didn’t want to reach the end of my life with a big savings account but very few memories of enjoying the journey. That realization encouraged me to create a “fun fund” in my budget, so I could treat myself to experiences without guilt.
By aligning my spending with my values, I felt a greater sense of balance and purpose in my financial decisions. It wasn’t just about saving for the future anymore—it was about living a fulfilling life now, too.
Examples of money values
Here are some common money values and how they might show up in your life:
Generosity
You prioritize giving back to others, whether through charitable donations, helping family members, or volunteering.
Freedom
Financial independence is a top priority, enabling you to make choices free from financial constraints.
Security
You value stability, building an emergency fund, and creating a safety net for yourself and your loved ones.
Impact
You aim to make a difference through your financial decisions, leaving a legacy or supporting causes you care about.
Experiences
You’re happy to spend money on travel, events, or hobbies that bring joy and create lasting memories.
Self-Care
Allocating money for your well-being, like therapy, fitness, or personal development, reflects the value you place on self-care.
Simplicity
Minimalist spending habits and living within your means reflect a desire for simplicity and peace of mind.
Why Are money values important?
Money values are crucial because they influence all your financial decisions, whether you realize it or not. When your financial actions align with your values, you gain clarity, purpose, and peace of mind. However, if your spending or saving habits conflict with your core beliefs, you may feel regret, confusion, or dissatisfaction.
Here’s why understanding your money values matters:
- Improved Decision-Making: You’ll make financial choices that feel right for you and align with your goals.
- Avoiding Regret: When your spending reflects your values, you’re less likely to experience buyer’s remorse.
- Goal Alignment: Your values give your financial goals a deeper purpose, making them easier to achieve.
- Decreased Stress: Living in alignment with your values brings a sense of control and reduces financial anxiety.
7 Steps to discovering your money values
If you’re ready to explore your money values, here are seven actionable steps to guide you.
1. Reflect on your early money beliefs
Your childhood experiences often shape your foundational attitudes toward money, even if you’re not fully aware of it.
Think back to the financial lessons you learned growing up. Were your parents or guardians savers, spenders, or somewhere in between? Did they openly discuss finances, or was money a taboo subject in your household?
These formative experiences play a crucial role in shaping your inherited money values—whether they align with your current beliefs or not.
2. Identify how money impacts your life
Money touches nearly every aspect of our lives, often in ways we don’t immediately recognize. Taking the time to reflect on how money influences various areas of your life helps you connect your financial decisions to their deeper purposes. Start by considering key categories and how finances play a role in each.
For instance, in health, money enables you to afford nutritious food, fitness memberships, and necessary healthcare services. It’s not just about paying bills; it’s about ensuring your physical and mental well-being. When it comes to family, money might provide stability, support loved ones, or build generational wealth to secure a better future for your children.
In your career, financial considerations often guide decisions such as accepting a job offer, pursuing higher education, or starting your own business. Similarly, your lifestyle is shaped by your financial habits, from finding a balance between frugality and enjoyment to indulging in experiences that bring joy, like travel or hobbies.
Creating this list helps you see the bigger picture—money isn’t just numbers in a bank account. It’s a tool that supports your priorities and values in tangible ways.
3. Set financial goals
Once you’ve identified how money impacts your life, the next step is to set goals that reflect your money values in action. Financial goals give structure and direction to your decisions, helping you turn abstract values into concrete outcomes.
Start with short-term goals, such as building an emergency fund or paying off high-interest debt. These goals provide a foundation of security and stability, ensuring you can handle unexpected expenses or reduce financial stress. For instance, setting aside three to six months’ worth of living expenses in an emergency fund is a practical way to align with the value of security.
Next, focus on long-term goals that align with your bigger dreams and aspirations. This could include saving for a down payment on a home, contributing to retirement accounts, or growing an investment portfolio.
Remember, effective goals are specific, measurable, achievable, relevant, and time-bound (SMART). Instead of saying, “I want to save money,” set a goal like, “I will save $10,000 in the next 12 months for a down payment.” Clear goals help you stay focused, track progress, and celebrate milestones along the way.
4. Align your money values with your personal ethics
Your personal ethics—what you believe is meaningful and important—are deeply connected to your money values. These guiding principles shape your decisions and influence how you handle finances. By aligning your money values with your ethics, you create a financial plan that reflects who you truly are and what matters most.
Start by identifying your core values. Ask yourself: What traits define me? What causes am I passionate about? For example, compassion, ambition, adventure, integrity, or sustainability may stand out. These principles can inform your financial priorities and decisions.
If you value compassion, you might prioritize generosity through donations or helping others. If ambition drives you, your focus could be on wealth-building or professional development. Similarly, valuing adventure might lead you to allocate funds for travel and meaningful experiences.
Aligning ethics with actions brings consistency to your money habits. For instance, if integrity is key, you might support ethical brands or invest in socially responsible funds.
Finally, connect these values to specific financial goals. If you value adventure, save for a dream trip. If you value integrity, shift your portfolio toward ethical investments.
5. Determine your priorities
You can’t focus on everything at once, so it’s essential to clarify which values and goals matter most to you right now. Start by reflecting on what brings you the most fulfillment and aligns with your current stage of life.
For instance, if freedom is your top priority, you might focus on paying off high-interest debt, building an emergency fund, or investing for early retirement. On the other hand, if family is your main value, you might direct more resources toward creating financial stability, funding your children’s education, or building generational wealth.
To determine your priorities, rank your values and goals by importance and urgency. Ask yourself: What do I need to focus on in the short term to improve my financial situation? What goals will have the greatest impact on my overall well-being?
Remember, your priorities may shift over time, so revisit them periodically to ensure they still align with your evolving values.
6. Revisit your values regularly
Your money values aren’t set in stone—they can evolve as you grow and navigate new life stages. For example, early in your career, you might prioritize ambition and financial independence, while later, family or giving back may take precedence. That’s why it’s important to make reviewing your values a regular habit.
Consider setting aside time once a year, perhaps during the New Year or your birthday, to reflect on your financial journey.
Ask yourself: Are my current financial choices still aligned with what I value most? Have recent experiences or changes in my life caused me to rethink my priorities?
This regular check-in allows you to adjust your financial plan as needed. If your values have changed, update your goals and strategies to reflect your new priorities.
7. Take action
Identifying your money values is only the first step—the real transformation happens when you put them into practice. Start by aligning your financial habits with your values.
For example, if generosity is important to you, set up a dedicated budget for charitable giving or volunteer your time to causes you care about. If security is your priority, focus on building an emergency fund or increasing your retirement contributions.
Actionable steps like creating a budget, automating savings, or cutting unnecessary expenses can help you live out your financial principles in tangible ways. Break down larger goals into smaller, manageable actions to make progress easier.
Consistency is key. Regularly track your progress and celebrate milestones along the way. This not only keeps you motivated but also reinforces the connection between your values and your financial decisions.
Expert tip: Set reminders to revisit your money values
Regularly revisit your money values and goals—at least once a year or during major life changes. This practice ensures your financial decisions remain aligned with your evolving priorities and helps you stay intentional about building a life that reflects what truly matters to you.
FAQs about money values
1. How do I know if I’m living according to my money values?
Start by reviewing your recent financial decisions and asking yourself a few key questions:
- Do your spending habits reflect what you care about most?
- Are you allocating money to things that truly bring you joy or align with your long-term vision?
- Are there recurring expenses or impulsive purchases that don’t feel meaningful or necessary?
For example, if one of your money values is financial security, check whether you’re actively building an emergency fund or contributing to retirement savings. If your value is generosity, are you giving to causes or helping others in ways that feel satisfying?
If your actions aren’t aligning with your values, don’t be discouraged—this awareness is the first step to making positive changes. Create a plan to adjust your spending and saving habits to better reflect your priorities.
2. What if my money values conflict with my partner’s?
Conflicting money values are common in relationships, but they don’t have to be a dealbreaker. Open and honest communication is key. Schedule time to talk about your values and financial goals in a calm, non-judgmental setting.
Start by sharing why specific money values are important to you. For example, if you value saving for the future while your partner values enjoying the present, you might find a compromise where you save a set amount each month while also budgeting for fun activities.
Consider creating shared goals that combine your values, like saving for a vacation (short-term enjoyment) while contributing to a retirement account (long-term security). Working with a financial advisor or counselor can also help you align your financial journey as a couple.
3. Can money values change over time?
Absolutely! Money values often evolve as your life circumstances, goals, and priorities shift. For example, in your 20s, you might prioritize career advancement and financial independence, but as you start a family, security and stability may become more important.
Major life events—like getting married, buying a home, or retiring—can also trigger changes in your values. That’s why it’s a good idea to reassess your money values periodically, perhaps once a year or whenever you experience a significant life change.
Reevaluating your values ensures that your financial decisions stay aligned with the person you’re becoming and the life you want to build.
4. What’s the difference between money values and financial goals?
Money values are your guiding principles—your “why.” They represent the underlying beliefs that drive your financial behavior, such as valuing freedom, security, or generosity.
Financial goals, on the other hand, are the actionable steps or milestones you aim to achieve, such as:
- Saving $20,000 for a house down payment.
- Paying off $10,000 of credit card debt in 12 months.
- Contributing $5,000 to your retirement account this year.
Think of it this way: Your money values are the foundation, and your financial goals are the building blocks you create on top of that foundation. For example, if you value generosity, one of your financial goals might be to set aside 10% of your income for charitable giving.
Aligning your financial goals with your money values helps ensure that your actions are purposeful and fulfilling.
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Start living in line with your money values today!
Understanding and defining your money values is a powerful step toward creating a life that aligns with your principles. By reflecting on your past, clarifying your priorities, and setting meaningful goals, you’ll build a healthier, more intentional relationship with money.
Remember, your money values are unique to you—there’s no right or wrong answer. What matters is that they guide you toward a fulfilling and purpose-driven financial journey.
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