I don’t know about you, but I’ve certainly had times in my life when I have been chained to my money fears. Palms sweating and heart racing kind of times. Times where all I could do was to worry about money – how will I make money, where will the money come from, will I have enough money. In that place, you can’t even think straight, which is why I’ve found that more money mishaps are made in fear and panic than when we are cool and calm.
Does this sound like you?
Breaking free of anything that binds us up takes a lot of time and some hardcore work on our part. Just think about going to the gym. I mean, does anyone really like going to the gym? We all go to the gym for one reason only, to lose that last 5 pounds that we swore we would lose (that, and we admit that looking at everyone working out can be pretty funny.) I don’t know about you, but I’d much rather be on the sofa at home watching my favorite reality TV show…the one that I’ve seen 15 times already.
Check out the Secret to Being Wealthy…and Happy Podcast
Money is different. When we are fearful of money we pull back and don’t want to deal with it at all. I used to be a serial no-looker at my ATM receipts. I’d go and deposit a check into the ATM, or withdraw cash, and then when it spits out the receipt I would fold it in half, shove it in my wallet, and never look at it. It’s crazy, I know. It won’t make me have more or less money by avoiding it. In fact, as a Certified Financial Planner Professional, I’d argue that it would lead to less money because I actually had no idea what was going on.
You want to know what leads to fear with money…it’s the no looksy attitude.
Budgets aren’t exactly a topic that will make you want to jump for joy, but honestly they are the #1 secret to a healthy financial relationship. Did you know that not looking at your budget is the same thing as not having one? Ignorance is not bliss in this situation. I have a few budget tricks up my sleeve if you are still stumbling with that topic.
Why are budgets so important? It’s because they can track trends that are happening in your finances. They can show you where things are going right, and where they have gone not-so-right in a given month. Just creating the budget is one thing, but you’ve got to actually analyze the sucker at the end of the month for it to make sense. You wouldn’t cook an amazing dish and then throw it away once you were done never tasting it. Next time you’re thinking about your budget, think about the most amazing meal you’ve ever made and put as much love and care into your budget. Your bank account will thank you.
Check out 30 Days to Supercharge Your Savings Podcast
The only way to really break free from your money fears is to face them, dead on. I know this might seem scary at first, but you’ll get the hang of it. So if your money fear is not having enough money each month, then you need to be a ninja with your budgeting, get an APP to track your spending and really know your numbers each and every day. Once you get some confidence that you can begin to save money and are on top of your spending, your money fears will start to banish. It takes a lot of really small steps when it comes to money fears to lead to big changes.
What money fears are you overcoming? Let me know in the comments below.
Shannah Compton Game is a podcast host and CERTIFIED FINANCIAL PLANNER of the top-rated Millennial Money podcast. Millennial Money has over 6-million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.