9 Surprising Money Journaling Prompts To Help You Build Wealth!
9 Unexpected Money Journal Prompts To Help You Build Wealth
I know money manifestation is all the rage right now but I’m sorry…I just can’t get with it. Maybe I’m too old school but I believe in “boring” ideas like planning and managing your money wisely.
Not nearly as exciting as asking the universe to make it rain but unfortunately…
Money doesn’t just fall from the sky. Perhaps that’s not what manifestation says but I lowkey feel like it does. Feel free to correct me if I’m wrong, in the comments.
Anywho, today I want to share some money journaling prompts that will force you to start thinking deeply about your current and future money situation.
And these prompts will also compel you to consider what you need to be doing now in order to start building wealth for the future. So in a way this can also serve as a money mindset journal.
I apologize now because some of these journaling prompts might open financial wounds that you don’t want open.
But I do hope by the time you’ve read these prompts you’ll feel hopeful about your financial future and start formulating a money plan that you can start using today!
Oh yeah, and this post contains affiliate links to great products that will help you in your health journey. I will get a commission if you decide to buy from these links but I’m only recommending products that I feel confident about and from companies that I trust like Amazon and others. Please let me know if you have any questions.
– What Is A Money Journal?
So what is a money journal anyway? A money journal is a place where you can write down your financial goals, budget, debt payoff plan, and more.
I have a money journal in the form of a binder and in it, I have everything that I need to know about my finances. It’s got my bank account and credit card passwords.
I know exactly when my next paycheck is coming, etc.
I use a calendar to track all of my paychecks and how much I think each one will be. It’s just a wonderful place to keep track and record everything that you need to know about your money.
– How To Start A Money Mindset Journal & What It Should Have
You can use journaling printables and punch holes in them and put them in your binder. Or you could just use regular notebook paper or you can use a bullet journal.
This is what I would suggest you keep in your money journal:
- All your income
- All your expenses
- Your monthly and yearly bills
- Financial goals
- Side hustle ideas
- Business ideas
- Retirement info
- Bank and credit passwords
- Debt total
- Debt payment plan
Or anything else you can think of!
– How Does A Money Journal Benefit You?
Why do I recommend you use a money journal? I don’t know about you but when I see money come into my account, I start thinking about all the stuff I want to buy.
It’s very easy to start making a list of things to put in my Amazon cart when I get a paycheck. But then responsible me takes over and reminds me that I have a budget and bills that I need to think about first before I start spending money on frivolous things.
Having a money journal and planner with all of your financial plans (including your budget) inside of it is a great way to hold yourself accountable.
Plus it reminds you that you can’t just use your money in any kind of way. We need to be good stewards of it. of course, all of this is only true if you actually use the money journal.
Just having one in and of itself isn’t enough.
My best tip would be to create your budget before you get your paycheck deposited into your account.
That way you know exactly where all that money is going as soon as you get it! Now let’s look at these journaling prompts.
I think you’ll find that they are a little different than other money prompts you’ve seen…so let’s take a look.
Want to read this post later? Save it to one of your Pinterest boards!
– 9 Journaling Prompts For Financial Freedom
A lot of financial journaling prompts discuss mindset which is extremely important. However, I wanted to focus more on helping others take an honest look at their finances.
And I want to encourage you to take action so you can start getting your finances in order quickly.
1) Do I know my current net worth? If so, write it down. If not, calculate it.
Ugh, I know this is not a fun question! It could be that your net worth is exactly where you want it to be. If so, that’s great! But if it’s not, calculating it and seeing the true number might cause your head to hurt.
You might find that your net worth is in the negative.
I’ve been there before and I know how that feels! But before you despair, just know that there is so much hope!
You can have a positive and thriving net worth at some point. People have overcome homelessness to become millionaires so trust me, there’s hope.
But you need to know your current financial picture so you can know what it looks like.
“ But wait a minute Nicky…. I don’t even know what net worth is”
Ok no problem! Here is the official definition:
“The total wealth of an individual, company, or household, taking account of all financial assets and liabilities.” To put it in more laymen’s terms, it’s your assets (everything you own outright) minus your liabilities (everything you owe money on).
This means your house or your car could be an asset or a liability depending on if you own it or if you still make payments on it. For more info, you can click here to help you figure out your net worth.
2) How much debt do I have? How does this make me feel?
When you calculated your net worth, you had to figure out how much debt you had. But I wanted to isolate this figure before we moved to the next prompt. When you look at your debt, how does it make you feel?
If your number is zero I bet you feel amazing, right?!
But if it’s not, you may feel depressed as if there is no hope. I understand the hurt you might feel when you look at the amount of debt you have. But you can totally get out of debt if you create a plan and execute it!
Check out some of this inspiring story of a woman who was in mountains of debt but was able to get out.
3) Do I have a plan to pay off my debt? If so explain the plan here. If not, why not? Explain what’s holding you back from creating one?
I don’t know your money story. You may or may not have debt. If you don’t then you rock and you can skip this step.
But if you do, write down your plan to pay off your debt. You might pick up an extra job, start a business, find a side hustle, or get some training to find a higher-paying job.
And if there are some obstacles in your way that seem insurmountable write that down. Write down how you feel about your debt.
When you see your fears and worries about your money situation in black and white, the wheels in your head start turning…then you can form a plan for how to pay off your debt.
4) Am I overwhelmed by my debt and feel like I’ll never get out?
Unburden your heart from the overwhelm that you feel when you think about your debt by writing your fears down in your journal.
I know exactly what it feels like to have debt that hovers over you like a storm cloud. Unload your frustrations out on your journal.
Don’t worry… she can take it.
A journal is a trusted friend that never judges you!
It may seem hopeless at first but please don’t despair, love! You can find a way to kick this debt to the curb but you can’t do it without a plan!
5) I currently have _$________ saved in an emergency fund.
Having an emergency is essential. I’ve read that many people can’t cover a $500 emergency with cash.
I understand how scary that feeling can be! If it’s all possible, try your best not to be in that situation!
One of the best options for building an emergency fund is using a bank account that is difficult to access so that you don’t spend the money you deposit into it.
When your emergency fund comes from the same account as your other bills, it’s really easy to spend it. Let me break down what I mean by this. If your main checking account is Bank Of America, then you should have your emergency fund in an account with a completely different bank like Ally Bank.
Once you’ve opened a separate savings account. start depositing as much as you can afford into your account until you get to at least $1000.
Eventually, you want to have 3-6 months’ worth of emergency funds. And then don’t touch that money except for true emergencies. I know that’s hard! Trust me, I’ve broken my own rule but it is the best policy.
6) If I have no savings, explain where and how I spend my money.
If you don’t have an emergency fund, go through your bank statements to take a look at where your money goes.
You might find that you spent $300 on frivolous things that could have been set aside for a rainy day. Or you maybe you have more of a growth or abundance mindset.
Instead of scrimping and saving money, you may want to focus more on making money. Hey, I’m here for all of it! It doesn’t have to be an either-or.
If you want a side hustle or to start a business I totally support and believe in you! As long as you get that emergency fund underway, I’m over here cheering you on!
7) I plan to retire in ______ years.
Think about this critically. This is how long you have to save, invest, and grow your nest egg. Use a retirement calculator to see how much you will have if you continue on your current trajectory.
Once you see the number you might be praising God or your eyes might bulge out of your head in horror.
Either way, you need to know, especially if the amount is not what you expected. Now is the time to make a retirement plan and start executing it. If you retire in five years then you definitely need to know how much money you have for retirement. But even if you have 20 years before you stop working for good, you don’t have a lot of time!
8) I currently am saving for retirement. If not, why?(true or false)
33% of American workers don’t have a retirement plan at all. Is this your story? If so, don’t freak out! It’s not too late to start saving for retirement I promise
9) I am on track to have this much money ______ when I retire.
If you already did this in step 7 then you’re amazing! But you still have time to be amazing by using a retirement calculator to see how much money you will have by the age you want to quit working for good.
I’ll make it super easy for you by posting this link to a calculator No, it’s not fun to crunch all of these numbers but it is necessary if you want a true picture of your financial future.
– Conclusion: Start Creating Your Money Plan Today!
If these money journaling left you feeling some type of way then be encouraged! I like sticking my head in the sand but at the end of the day that hurts me more than anyone else.
I know calculating all of these numbers can be overwhelming and maybe even emotionally painful and I’m sorry if it is!
I want you to have hope that your financial situation can change for the better! Start by praying over your finances and ask God for guidance on what you should do first.
Then create a financial plan and execute it. You can totally do this but you need to start now!
You can use my free mini budget planner printable to help you get started! Once you enter your email address below, the link will be sent to you.
Then you can print it and start working on your financial plan right away! Keep reading to find out more!
– FREE Budgeting Planner Printable To Start Your Wealth Building Journey Now!
Getting out of debt in this economy is more important than ever before but it won’t happen without you taking action and creating a plan.
That’s why I created the free Debt busting tracker and payoff mini planner (see pic below). I am debt free and I can’t tell you how freeing that is.
I want you to experience that same freedom too! Just enter your email address below and I will send the link to your inbox.
If Money Journaling Prompts has helped you, please share it!
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Financial Disclaimer: Healthy As You Can (blog posts & products) is not offering any kind of financial advice. Any financial results discussed on this blog are not typical or guaranteed. Healthy As You Can is not a registered financial, investment, legal, tax advisor, or broker. This blog is for information and entertainment use only. A financial fund’s past performance does not predict or forecast its future results.
