How to Overcome Your Money Fears
What are your money fears? Is it the fear of the unknown, uncontrolled? What about your financial mindset/relationship? Financial anxiety does not need to be associated with everyone’s money relationship. In the blog, I will address a few common money fears and tactics you can implement to overcome them. Let’s walk through solutions together and overcome obstacles!
Fear of the Unknown and Uncontrolled
The idea of “what if” can run circles in the mind of someone fearful of what could be, more specifically, the pessimistic “could be.” One of the most common “what if” scenarios can be tied to the question - What if I lose my job?
The answer: we prepare for this what if by diligently building up an emergency fund that can tide you over until a new position becomes available! Start this emergency fund now. Look at your monthly income and expenses:
How much do you have left?
How much of the remaining payment can be set aside not to be touched unless desperately needed?
Calculate this number and pull that allocated money to be your emergency fund each month. This new habit will give you peace of mind, but it will also help with the following money fear, having a negative money mindset/relationship.
Fear of a Negative Money Mindset/Relationship
We can make or break our finances by how we interact with our finances. If we start each day scared of transactions or the irrefutable desire to spend money we don’t have, we set ourselves up for failure.
This is where you need to take charge of your destiny. Your money mindset can change through research, reading financial literature, and reaching out for support through financial advisors such as myself.
You can take steps to go from a state of financial fear to financial freedom. When analyzing your financial mindset, reflect on your habits! As discussed in the paragraph above, do you have an emergency fund you allocate money to each month?
Do you budget or look at your financial statements regularly? Your answer to these questions will help you determine if you have a positive or detrimental relationship with your money. Remember, you are a powerful woman!
How can I Help You Live Your Desired Lifestyle?
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