The connection between gratitude and money

Gratitude benefits the giver as much as the receiver. Studies show that practicing gratitude elevates your mood, lowers your blood pressure, reduces symptoms of depression, and improves your sleep.¹

Our research has shown that mental, physical, and financial wellness are all intertwined, with financial wellness having the largest impact across mind, body, and wallet^TM.² Gratitude may play a part in the relationship between mental and financial wellness. If your finances are in order, you may find it easier to show gratitude in all parts of your life.

Try these simple exercises to focus on both your mental and financial wellness simultaneously.

Slow down and breathe

It sounds contrary: if you’re busy and overwhelmed, the last thing you want to do is slow down. But a few minutes of slow, deep breathing may calm you down. More importantly, slowing down can have lasting health benefits over time. Researchers at Harvard Medical School found that deep breathing for 10 to 20 minutes a day helps to stop the “fight or flight” response to stress.³ During this deep breathing time, think about things you’re grateful for — financial and otherwise.

Slowing down expensive tasks, such as online shopping, can lead to great benefits. Leaving items in your cart for 24 hours can give you the time to take a breath and mindfully go through the list to consider whether your hard-earned dollars are best spent on those items.

Use the power of pen and paper (or thumbs)

Another way to practice gratitude is to write a daily list of the good things in your life. Some people do this by writing in a journal every morning. Others type a list into their phone at the end of every day. Simply put, writing things down shows you what you have.

The same can be said for your money. One great financial habit is to create an insightful budget and keep track of your daily income and expenses. Consider including gratitude in this practice, keeping a daily record of financial achievements, however small. Then, at regular intervals (whether it’s every week or every month), review your money habits. Are you saving as much as you want? Where can you cut expenses? Are you spending enough on the things that make you happy?

Take time to see the big picture

When people think about gratitude, they tend to think about the present moment. That’s a great place to start, but it’s also good to remember all the previous moments that led you to today. Expand your grateful thinking to people and memories that bring you joy.

In your financial life, let big-picture thinking point you toward the life you want to live. What are your financial goals for this year? In five years? How about 20 years from now? It’s easier to think about your finances now, but thinking down the road can help you make a plan to get there.

Connect with others

When it comes to your gratitude for the people who got you where you are today, take it a step further. Write them a thank-you note. In one psychologist’s study, people who wrote a thank-you note to someone from their past experienced “a huge increase in happiness scores.” In fact, that good feeling lasted for an entire month.⁴

Similarly with money, it can be helpful to have a face to face connection with someone who can help you manage your money. A financial professional can offer you support for your financial well-being. They can provide you with sound financial guidance and access to tools to keep your long-term goals on track, helping you understand where you are today and how to plan for the future. Working with a financial professional can help you “offload” financial stress, gain greater financial confidence, and give you more things to be grateful for.

There’s a direct correlation between finances and emotional well-being.⁵ So, learning how to proactively handle your finances and find moments of financial gratitude can lead to a healthier mind and body.