You’ve probably heard the phrase “knowledge is power” before. In fact, you may have even said it yourself from time to time.

And it’s true. Knowledge is power because it shows you how to act. The more informed your actions, the more likely they are to be fruitful and effective.

Here’s another quote you’ve probably heard and said a few times—“Know thyself.”

Why? Because there’s no greater power than power over yourself. The more you know yourself, the more able you’ll be to shape your actions, your habits, and your destiny.

This couldn’t be more relevant when it comes to financial matters. The more you know about your financial habits and tendencies, the better equipped you’ll be to control your financial future.

Here are some ways to know thy financial self.

Notice your emotions.

Like any other part of your personality, emotions can affect money. They’re especially important because they can cause you to act in ways that are counterproductive financially.

For example, have you ever felt anxious about checking your bank account?

Or felt a craving to blow money to destress?

Or swelled with pride when you see how much you’ve saved?

Those are all emotions, and they’re all related to money.

So the next time you’re spending money, or checking your bank account, or pinching pennies, take a moment. Breath. Notice how you’re feeling. Those emotions can give you valuable information that will help you make better financial decisions in the future.

Notice your thoughts.

Feelings almost always lead to thoughts. For instance, anxiety about looking at your bank account could lead to thoughts like this…

“Can I afford that? Oh, I bet I can’t. I WAY overspent the other day at… whatever, I never have enough money. I keep meaning to spend less, but I just can’t stop myself. Why do I even bother?”

See what happened? A feeling of anxiety led to a negative thought—that you can’t control your finances.

So what do you think about money? And that doesn’t mean the “opinions” about money that you share when you’re chatting with friends. It means the thoughts that flow through your mind when ever you encounter money in daily life.

Take a few moments right now and notice those thoughts. Are they positive? Are they negative? Are they just neutral?

Notice your actions.

Just like feelings almost always lead to thoughts, so do thoughts almost always lead to action.

Those actions might be to ignore, or repress, or get angry, or give in. But one way or another, thoughts will result in actions.

This is where budgeting helps. It’s like creating a journal of your actions, which are a window into your thoughts, your feelings, and who you are.

Notice lots of stress spending, snack buying, or binge shopping? That can reveal a facet of your financial self—maybe you think that spending will relieve feelings of stress and anxiety.

Or maybe you notice lots of thrifting and penny-pinching. That could reveal either a resourcefulness in hard times, or worry about going without.

Or maybe you notice wild, untamed spending. Perhaps this shows that you don’t prioritize money, and think of it as a tool to make you feel good.

The more you know about your financial self, the better equipped you’ll be to control your finances. You’ll see habits that you need to curb, and habits you need to cultivate.

Simple advice, but it goes a long way. Knowledge is power!