Before I get too far into today’s post, I want to let you know that I am extremely aware of the catastrophically terrible financial impact 99% of us have experienced as a result of the COVID-19 pandemic. Even as billionaires have increased their profits by trillions of dollars, many of us are facing evictions and bare cupboards.

When you’re experiencing the bottoming-out of the market, you have an opportunity to build back. Use this time to plan for the rebound, because the rebound always happens. It’s math.

But there’s a way to move from a scarcity mentality to a financial mindset of abundance. It’s possible to change your polarity and become a money magnet. It’s a process, but if you are consistent, I guarantee that this money habit will work.

First, stabilize yourself.

If you’re reading this post, you have access to the internet. Do a Google search of all available sources of help—locally, statewide and federally. Get all of your paperwork in order: identifications, job forms, W-2s etc. If you’ll need it for applying for assistance, organize it. The mere act of organizing this information is a step your mind recognizes as asserting control over your situation. It will have a subconscious calming effect on your mindset. If you don’t know where to begin, go to a public library. There are free resources there to get you started.

The money habit I share in this post will not work as quickly if you are not stable. By stable, I mean that you meet the following:

1. Your rent is current
2. Your utilities are current
3. All loan payments are current
4. You have a consistent source of income

If you are missing any one or more of the above, feel free to continue reading, but do not employ the trick unless you have stronger-than-normal willpower. Otherwise, work on getting all four of those categories met.

Here’s the habit: Whenever you get a lump sum of money or financial windfall (including overtime) apply it toward your spending plan* using the formula below (*NOT BUDGET—the word ‘budget‘ activates the privation centers in your brain). The phrase spending plan carries with it a sense of choice, agency and control over one’s behavior/situation:

Break the lump sum into thirds. For instance, if you get a tax refund of $900.00:

1. A third of it goes to savings. If you do not have a savings account, open one and deposit $300 in it.

2. A third of it goes to debt. Pay $300 toward the highest balance or interest rate loan you have. For best results, throw the whole chunk of it at one debt.

3. A third of it goes toward a splurge. Yes. Blow it on yourself. YOURSELF. Not your kid; not your spouse. YOURSELF. Spend a day at the spa. Buy that pair of shoes that you’ve wanted forever. Whatever your splurge is, spend the entire third of the lump sum on it.

This third part is the essential part, and what will truly supercharge your abundance. Most of us under earners** are loathe to spend money on ourselves. We buy our kids the best while wearing thrift store stuff that is two decades out of fashion. We buy our spouse a new toy from the Sharper Image catalogue while we wrap another piece of duct tape around our blow dryer.

When you splurge on yourself, you are telling both yourself and the universe that you are worthy of abundance. You are worthy of good things. That belief will in turn begin to alter the way you treat yourself. It will change the way you allow others to treat you.

The first few times you splurge, check for any feelings of guilt that may arise. More than likely, these feelings are scripts from your family or past (“Money doesn’t grow on trees,” “Vain people care about beautiful shoes,”… blah blah blah). When you hear these voices in your head, take the time to journal your feelings about them. Then affirm to yourself that you absolutely deserve good things.

**WHAT IS UNDER EARNING? I‘m including this here because as an artist and writer, I am personally familiar with dysfunctions that come with operating in a creative field. Many of us undervalue our work, undercharge for our expertise and subconsciously reject money. There‘s a term for this: under earning.

When you get to a point where you are splurged out, pay it forward. Spend your splurge on a nonprofit. Buy a gift card with cash on it for someone you know could use it. Double down on your debt. Double down on your savings. Set a bigger splurge (a trip, for instance).

I promise you that this habit works.

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