Spirituality/Self,

Mindfulness and Financial Decisions

Written by: Dr. Karen-Marie Yust

 

One of the hallmarks of Christian spirituality is mindfulness: being aware of God, of our context, of our desires, of what we are drawn toward and what we resist. Over the centuries, various spiritual leaders and movements have devised practices to encourage mindfulness. Their practices can also serve to help us develop ways of being mindful of our spiritual values when we make financial decisions.

Brother Lawrence, a 17th century Carmelite monk, suggests that Christians use some kind of external cue to remind us to think of God several times throughout the day. By selecting financial activities (e.g. checking out purchases, paying bills, and browsing online or brick-and-mortar stores) and offering God a brief (one sentence) prayer of thanks for God’s provision in those moments, we become increasingly mindful of the virtue of gratitude. We may also find that pausing to offer God thanks as we begin certain financial activities prompts us to rethink our desire to participate. If we struggle to give God thanks for a particular financial action, it may be because it does not agree with our values and we cannot authentically thank God for giving us that opportunity.

Contemporary forms of centering prayer can also be helpful in cultivating financial mindfulness. Sometimes called breath prayers, these forms focus attention on a word or phrase that represents our spiritual desires. One of the most common forms is the Jesus Prayer (“Lord Jesus Christ, son of God, have mercy on me”), which traces back to the desert fathers and mothers in the 5th century. Practitioners repeat their chosen phrase as a way of settling their thoughts and emotions, particularly before major decisions or life transitions. Given the magnitude of many financial decisions, such as purchasing a home or car, investing in an education, or setting aside funds for retirement, taking time to focus our attention on our spiritual values as we consider financial options is crucial to making decisions with which we can live well.

Questions for Reflection

  1. How mindful are your financial decisions currently?
  2. Which mindfulness practice (externally-cued prayer, centering prayer) fits your lifestyle?
  3. What other practices might encourage financial mindfulness?