Many people we meet say they are stressed about their financial situation. Very few tell us that they are secure and at peace with their money. People deal with financial stress in many different ways — sometimes healthy, but often not. People commonly deal with anxiety by avoiding whatever it is that makes them anxious. Unfortunately, if you avoid dealing with your finances, you’ll likely create more financial problems, and more anxiety, in the long term.
Money matters are too important to ignore. Many times our upbringing sheltered us from the reality of financial responsibility. This unawareness is often linked to money mismanagement and to debt. Debt, in turn, can result in lower self-esteem, lower productivity and greater stress.
If you’re struggling with financial avoidance or financial denial, you can take action to get your financial journey back on track.
Are you avoiding reality when it comes to finances? A few questions to consider:
- Do you try to put money and finances out of your mind?
- Do you avoid talking about money with family and friends?
- Do you avoid opening bank statements or credit card bills?
- Do you fear your finances but take no action to resolve those fears?
- If you can relate to any of these feelings and behaviors, it may be time to take a hard look at your relationship with money. We develop our beliefs and attitudes about money early in life. Often, we aren’t even consciously aware of what our beliefs are, let alone who we learned them from. If you’re dealing with financial avoidance or financial denial, it can help to think critically about the money beliefs you learned in childhood. Think about what your parents taught you about money. Talk to family members about their money beliefs. Then try to challenge your existing beliefs about money.
- Do you try to put money and finances out of your mind?
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*Disclaimer: Thomas Ginn has attended and completed Dave Ramsey's Financial Coach Master Series. ~ February 2015
*Completion of Dave Ramsey's Financial Coach Master Series does not create an employment or an agency relationship, or give any coach the right to speak for or bind Dave Ramsey or his company, The Lampo Group, Inc., nor does it constitute an endorsement or recommendations by Dave Ramsey.
*Completion of Dave Ramsey's Financial Coach Master Series does not create an employment or an agency relationship, or give any coach the right to speak for or bind Dave Ramsey or his company, The Lampo Group, Inc., nor does it constitute an endorsement or recommendations by Dave Ramsey.
I do not sell any financial products. 180 Degree Financial Coaching is designed to give you accurate and authoritative information with the regard to the subject matter covered. It is provided with the understanding that the 180 Degree Financial Coaching is not engaged to render legal, accounting or other professional advice. Since your situation is fact-dependent, if needed, you must additionally seek the services of an appropriately licensed legal, accounting or investment professional.