The Hidden Power of Money Habits
How Our Financial Practices Shape What We Love
When we think about our relationship with money, we often think about what we can do with it, or what it can do for us. But what if just as consequential was the consideration of what money does to us? What if the way we spend, save, give, and invest is forming us—shaping what we love, value, and ultimately who we are?
James K.A. Smith, in his book You Are What You Love: The Spiritual Power of Habit, challenges the way we often think about human beings. We tend to view ourselves as "brains on a stick" — as though our identity is primarily shaped by what we think or know.
But Smith suggests that we are primarily emotional beings, drawn by love. You aren’t just what you think; you are what you love. And what we love isn’t shaped in a vacuum. Our loves are formed by habits we partake in every day, the rituals and practices Smith describes as “liturgical,” that often go unnoticed.
As it relates to money, many people think their relationship with money is simply practical. Spending, saving, giving, and investing should all be logical, driven by maximization within spreadsheets. But in reality, our relationship with money is driven by what we love, and what we love is driven by our habits.
Oftentimes, people come to love buying trinkets simply because that’s what they’ve always done. Others love having a big savings account because they’ve conditioned themselves to love the security it provides. But what if we intentionally shaped our money habits to form loves that we know are more meaningful than trinkets and big savings accounts?
The Liturgies of Consumerism
Every trip to the mall, every ad we scroll past, and every online purchase we make participates in what Smith calls the "cultural liturgy" of consumerism. These acts are not neutral; they’re shaping our loves and desires.
Consumerism teaches us to seek identity and meaning in what we buy. Advertisements craft narratives of happiness, belonging, and success tied to the products we consume. Repeated exposure to these messages forms habits—and habits, over time, form us. We become people who believe, often unconsciously, that fulfillment is just one purchase away.
This liturgy of consumerism often misaligns our loves. Instead of directing us toward love for others or a higher purpose, it encourages self-gratification, comfort, and novelty. These are desires that, when left unchecked, can leave us feeling restless and unsatisfied.
How Money Habits Shape Us
Our financial practices work the same way. The decisions we make with our money, repeated over time, shape our hearts and reveal what we truly love. For example:
Spending: Where we direct our dollars reflects our priorities. If we habitually spend on convenience or indulgence, we might unknowingly reinforce a love for comfort or status over generosity or community.
Saving: Hoarding wealth out of fear or anxiety can form a love of control, while intentional saving for others’ benefit can foster trust and stewardship.
Giving: Regular generosity fosters a love for others and a sense of shared humanity. On the other hand, neglecting to give can lead to a self-focused view of money.
Investing: The way we approach investing—whether seeking only personal gain or aligning capital with a broader vision of human flourishing—can shape our values over time.
Counter-Formative Practices
If consumerism is a cultural liturgy, how do we resist its pull? Smith suggests counter-formative practices that realign our loves toward higher purposes. In the financial realm, this might look like:
Practicing Generosity: Regular acts of giving teach us to prioritize others and resist the pull of self-centered spending.
Sabbath from Spending: Choosing moments to step back from consumerism helps break the cycle of always needing more and reminds us of the sufficiency of what we already have.
Purposeful Saving: Saving with intentionality—not out of fear but with a vision to bless others in the future—fosters stewardship and trust.
Purposeful Investing: Viewing investments as tools for stewardship and societal good rather than mere profit maximization reorients our financial lives toward a broader impact.
For Financial Advisors
As financial advisors, we are in a unique position to help clients reflect on the formative power of their money habits. By encouraging intentionality in spending, saving, giving, and investing, we can help clients align their financial practices with their values. This not only fosters better financial health but also cultivates lives oriented toward love for others and higher purposes.
What would it look like to shift the narrative from "What can money do for me?" to "What can money help me do for others?" How might our clients’ lives, and our own, change if we saw money as a tool for shaping loves and building flourishing communities?
Conclusion
Money is not just a medium of exchange; it’s a powerful force of formation. Our financial habits are liturgies that shape what we love and value. By becoming more intentional about how we manage money, we can redirect our loves toward things that truly matter—things that bring meaning, purpose, and flourishing to our lives and the lives of others.
The question isn’t just What do you do with your money? but What is your money doing to you? Let’s help ourselves and our clients use financial habits to align with loves that lead to lasting impact and joy.
Shaun Morgan is Business Development Director for EverSource Wealth Advisors. In developing strategic initiatives to expand the company’s market presence, he enjoys fostering relationships with advisors and contemplating vital matters in today's financial marketplace. Follow Shaun on LinkedIn.