Change Your Money Mindset: Cultivating an Abundant Money Mindset for Physician and Executive Moms
Dec 17, 2024
As busy physician and executive moms, we know the importance of making every minute—and every dollar—count. But too often, financial success feels elusive, tangled in feelings of scarcity, overwhelming debt, and the constant demands of career and family life. Today, I want to share how you can shift your money mindset and cultivate abundance, allowing you to create a life where financial security and personal fulfillment coexist.
My Journey from Financial Struggles to Abundance
Like many of you, I didn’t start my career with financial literacy. During my teens, I was clueless about how money worked. As I navigated medical school loans and later accumulated $250,000 in debt, it became clear I needed a better plan. And it only got harder when my husband passed away, leaving me responsible for both the emotional and financial well-being of our family.
Despite working hard and doing what seemed right, I found myself overwhelmed by the advice that encouraged struggle, deprivation, and cutting out joy to get ahead. That narrative didn’t sit well with me. Enter my financial planner, who showed me that money wasn’t just a burden—it was a resource to build the life I truly wanted. While it took me 20 years to pay off over a million dollars in debt, I developed a solid plan for living the life I dreamed of with my daughter—travel, saving for her education, and preparing for my retirement.
Now, instead of letting money drive my decisions, I focus on using it to create what I want in the world. And you can too.
Insights from Experts on Money and Abundance
To help you cultivate an abundant mindset, I’ve gathered advice from five experts who know how to help women in high-stress careers thrive financially.
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Dr. Sunny Smith advises breaking your financial goals into manageable tasks and scheduling them. This prevents overwhelm and boosts productivity. I took this to heart by blocking off specific time in my calendar to handle financial tasks, which made staying organized easier.
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Dr. Pamela Wible emphasizes the importance of self-care in financial planning. If you don’t care for yourself, burnout will follow. I learned this firsthand when I neglected self-care while focused on finances. Now, I dedicate an hour daily to activities that recharge me.
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Dr. Sasha Shillcutt talks about setting realistic financial goals to avoid burnout. Adding buffer time in your schedule for financial tasks gives you breathing room when life throws curveballs.
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Dr. Darilyn Moyer encourages flexibility in financial planning. Weekly reviews of my financial plan help me adapt to changes while keeping my main goals in sight.
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Dr. Karen Sibert stresses setting boundaries to maintain balance. I set up calendar reminders for financial tasks, which helps me avoid overcommitting and keep work-life balance intact.
Three Practical Steps to Cultivate an Abundant Money Mindset
So how can you apply these lessons to your own life? Here are three practical steps:
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Surround Yourself with Abundant People: Feeling isolated while working on your financial goals can be disheartening. Identify three people or resources that embody an abundant mindset. Their influence can help shift your perspective and see money as a tool to create the life you want.
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Consume Abundance-Based Content: Reading books that promote abundance shifted my mindset from scarcity to opportunity. Some books that helped me include The Obstacle is the Way by Ryan Holiday and Do Nothing by Celeste Headlee. They challenged me to rethink conventional living and embrace rest and balance.
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Practice Daily Gratitude: Each night, I write down three things I appreciate about myself and three things I’m grateful for. This habit curbs the constant desire for more and keeps me grounded in the abundance already present in my life.
Final Thoughts
Your relationship with money is always evolving as you reach new milestones in your life and career. Cultivating an abundant mindset, being generous, and practicing gratitude will help you not only achieve your financial goals but also live a fuller, richer life. Take small, meaningful steps each day, and remember to celebrate how far you've come.
Calling all remarkable women physicians and single moms!
Join our thriving Single Mom MD community today and unlock the support you need to conquer financial challenges, master time management, embrace a positive mindset, and excel in parenting.
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