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  • Writer's pictureTerry Banks

How Mindfulness Helped Me and My Money and How it Can Help You

Mindfulness is practiced in a variety of ways to refine and deepen the ability of humans to connect with and experience life. Some people do breathwork, use a money mindset journal, do yoga, mindfulness meditation, or mindfulness counseling in hopes of cultivating conscientiousness in their lives. Everyone can benefit from practicing mindfulness regardless of their approach.

Mindfulness isn’t about logic or knowledge that’s acquired, but a practice or way of living. It’s been conceptualized as a state practiced in mindfulness meditation and as a trait, in terms of one’s predisposition to be mindful in daily life.

A blurred background of a black woman meditating with the text, "Mindfulness means paying attention in a particular way: on purpose, in the present moment and non-judgmentally." by Jon Kabat-Zinn

Based on this description, would you say that you apply mindfulness in your life?

  • If yes, how so?

  • What does mindfulness look like to you?

Is it?

  • Figuring out your WHY

  • Being intentional about your actions

  • Creating clarity to support your goals

  • Aligning yourself to your purpose

Regardless, mindfulness is going to set you on the right track to reaching your goals, personal and/or financial.

A picture of three black persons  smiling for a photo for the podcast, Mindfulness for the Culture

Check out my guest spot on the Mindfulness for the Culture Podcast. I’m talkin’ square biz to ya because “Getting Your Money Right is a Mindfulness Practice”.

In many ways being mindful is like budgeting. Budgeting serves as a tool for us to monitor our expenses and encourage planning for the future. Similarly, mindfulness can mean being attentive to our spending patterns and making conscious decisions about budgeting and overall money management.

A picture of Snoop Dogg from the Music Video Gin and Juice with the text, "With my mind on my money and my money on my mind"

Integrating mindfulness into daily life

Mindfulness practices must be incorporated into our daily lives so that we can develop a habit out of it. The first step to being mindful is figuring out your WHY. Why do you do what you do? Why do you make the choices that you make? Once you find the answers to these questions, your financial journey will feel more intimate, and balancing instant gratification vs delayed gratification will become more natural. Figuring out my WHY led me to realize that I was deserving and capable of the peace of mind that comes from financial freedom.

I’d never heard of a financial coach or a money mindset coach and I had no idea where to start so, of course, I ended up spending ALL my free time reading personal finance books from the library. From that point on, I realized that it wasn’t meant to be a solo journey because I wasn’t the only one that was set up to stumble and bumble through life without financial education.

I started with friends - sharing tips, tricks, concepts, and systems that felt like buried treasures. That eventually led to me hanging out my shingle so that I could help more than just the people that I already knew. That WAS (and IS) being scared and doing it anyway personified. Listen, I’m a product of Gen X propaganda and Stranger Danger started with us and I took that ish to heart. 😂😂🤣🤣

Listen to this clip about WHY I coach.

Check out the full episode here.

Another practice is intentionality. On the topic of finances, this would mean handling your money with careful deliberation and a sense of purpose. Taking the time to consider your values and priorities and aligning them with your financial choices. Intentional spending, for example, means spending within your budget ~ the budget that you designed to create positive changes in your life. The realized savings becomes the money that helps someone who values wealth building be able to leverage real estate investing strategies or someone who values travel choose to save for a vacation, a stint as a travel blogger, a sabbatical, or even early retirement - Highly Recommend (10/10).

My own journey with intentionality has been full of lessons and realizations. Recently, it began with me unintentionally taking a break from coaching - in retrospect, it became somewhat of a sabbatical. The last 8 months of 2022 included planning and celebrating my 50th birthday, real estate transactions, moving, lots of travel, exhaustion, rest, taking deliberate steps to get back on track, and much more. What began as an accidental 2 months off turned out to be 8 months off that I needed for me to move forward. My first newsletter issue talks about this in detail. Don’t miss out on future issues. Sign up to get my newsletter!

Clarity, simply put, is the ability to think clearly and not get easily distracted or confused. Financially, it means having a clear awareness and understanding of your financial situation. This includes knowing how much money you have, where it comes from, where it goes, and when. This is the foundation of financial clarity.

It also means having a clear set of financial goals and working consistently to achieve them instead of succumbing to distractions. A recent moment of clarity for me was earlier this month when I was on an airplane reflecting on where I was headed (to my future home of 🇲🇽) and how far I’ve come. I was able to appreciate and see the beauty of the journey despite the occasional turbulence. It inspired me to buckle up, stay focused and not lose sight of my goals, and remember to put my mask on first. Planning and mapping out my vision for my life has allowed me to find clarity ~ and not just financially.

A quote  by Michelle Obama saying "For me, becoming isn't about arriving somewhere or achieving a certain aim. I see it instead as forward motion, a means of evolving, a way to reach continuously toward a better self. The journey doesn't end."

And finally, purpose gives a sense of direction and meaning to your financial choices. This could mean having a long-term vision for your finances and only making decisions to support that vision. For example, someone who wants to retire early may make different financial decisions than someone who wants to accumulate wealth to leave as an inheritance.

A concept banner with a picture of Terry Banks in a circle frame and a text below it saying, "I help Black women build a strong financial foundation so that they can shift into ease and I.N.V.E.S.T. with confidence."

In my case, the work that I do with my clients gives me a sense of purpose. After decades of wondering what I wanted to do (or was “supposed” to do) with my life, it’s a relief and a blessing to be tapped in. It’s clear to me that I’m doing what I’m meant to do.

All of which are things that I’m familiar with because my financial literacy journey led me to financial freedom. My lived experience, learnings, and training can help you find your financial purpose. Book your free financial coaching consultation call.

During my 3-month coaching program, we work together to:

  • Figure out your WHY

  • Be intentional about your actions

  • Create clarity to support your goals

  • Align yourself to your purpose

Mindfulness in a consumerist society can be difficult to navigate. Capitalism has a way of monetizing and putting a price tag on everything. Inner peace is priceless.

Having a Financial Coach is like having a personal trainer for your money.

Find out if a guide, accountability partner, mentor or cheerleader is right for you by scheduling your FREE 30-minute Q&A call.


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