My financial situation is stressing me out!

More and more people have been contacting me recently to talk about their financial situation.  Actually, if I was being really honest, they don’t want to talk about their money at all – at first.  They know that they NEED to be doing something different with their money, but they don’t know how to start.  What they do know is that they want to feel at peace and in control with their money.

Feeling overwhelmed by money worries, whatever your circumstances can feel hopeless but there are ways to help you feel more in control, ease your stress and anxiety and feel confident that things will get better.

Money worry symptoms either come about from a sudden change – like losing your job, or they can build slowly over time.  2020 has been tricky enough to cope with.  Will 2021 be any better?  

How does money stress start?

In a nutshell money stress usually starts in one of two ways.  Firstly, not being interested in money – this is common for so many people.  Money is simply not high on your values and therefore does not grab your attention in any way.  The problem with this is that ignoring what is going on in your wallet and bank account is a great starting point for things to go downhill.  

When helping clients with money worries, I introduce them the 8 Money Types.  The money types are a bunch of 8 characters that are in us all.  Each of them thinks, feels and behaves very differently around money.    The money type who is not interested in money we call the Innocent.  

The Innocent takes the ostrich approach to money – living in denial, acting that all is ok whilst putting their head in the sand to avoid the reality of their finances.  Easily overwhelmed by financial information.

If you feel that you resonate with the Innocent money type please know that that this can change.  I have seen many a money Innocent turn into a money Warrior!  One tip for you is to find a purpose for becoming involved with your money.  If it has got to the stage where bills are racking up then maybe you already have your purpose, but if not create a purpose.   Set an achievable goal for saving up for a special present or holiday (yep we may be able to have them soon!)  or focus on paying off a credit card bill.  Take it step by step, little by little but take one small action every day for the next 30 days.  Tell me what happens.  

The second way that financial stress occurs is by being over interested in your money. What I mean by that is being over interested in it in the short term – what can it buy you NOW rather than looking what it can do for you in the long term.

The spend, spend, spend money type can also be the Innocent, but is typically the Fool.  Our Fool has a happy-go-lucky optimistic outlook but is financially irresponsible and lives for today.   We all have Fool within us – but if our Fool is running our financial life it will not take long for us to run into financial difficulty. 

For those with an active Innocent or Fool money type, the first step is to stop and take a calm moment to consider what it will take to make the change.  

If money is causing you stress right now, please don’t keep it to yourself.  Is there a friend or family member you can have a chat with?  Sign up to an app like Money Dashboard which will help you to start seeing your finances more clearly.  What help do you need?

If you want to find our more about your relationship with money, take the money type quiz and then please feel free to book in for a 30m chat with me to see if I can help.