Feeling Overwhelmed by Finances? Here's How to Take Control

Have you ever felt truly in charge of your finances?

What emotions does the topic of money evoke for you?

Consider the moment when you're about to check your bank account—does it fill you with dread?

Is there a habit of delaying budget planning or bill payments, finding excuses to avoid confronting your financial reality?

Or perhaps you have savings but the mere thought of deciding whether to invest, purchase a property, or find another way to make your money work for you brings about a sense of unease?

If any of this resonates with you, know that you are not alone. A large portion of people feel apprehensive about financial decisions, unsure of how to manage debt, afford living expenses or begin investing. The plethora of conflicting advice available online only adds to the confusion and stress, leading many to procrastinate and avoid financial planning altogether.

Why, though, is this a common struggle? Money, after all, is a fundamental aspect of life, akin to food—it's essential for our survival.

Avoiding money is impossible. Every decision we make on a daily basis is influenced by financial considerations in one way or another.

We need money for basic necessities such as food, housing, transportation, entertainment and much more. Virtually nothing in our lives is untouched by financial transactions, direct or indirect.

Consider a simple outing to the beach. While the beach itself may not cost anything, getting there, dressing for the occasion, and protecting your skin with sunscreen all involve money.

Take a look around you. Everything you see has, at some point, been exchanged for money.

We've developed a tendency to view money, an integral part of our lives and decisions, in a negative light.

However, money itself is neither good nor bad; it is a neutral tool, a form of energy without emotions or desires. Recognizing that you can control money rather than allowing it to control you is a transformative realization.

Having more money affords you more choices, freedom and security. While money alone won't make you happy, it certainly makes pursuing happiness easier.

Mastering your finances is the first step towards using money to improve your life.

What causes the overwhelming feelings associated with money?

The finance industry has complicated the perception of money management and investment with its jargon, complex products and tales of financial disaster, making it seem inaccessible to the average person.

However, simplicity in money management often leads to better long-term outcomes. Start with basic strategies and avoid diving into complex investments or cryptocurrencies as a beginner.

Understanding your emotional response to money is crucial. Men often associate money with success, while women may link it to security. Recognizing these emotional triggers can aid in overcoming financial fears and improving your relationship with money.

Furthermore, financial issues are a leading cause of stress and arguments in relationships. Many couples struggle to communicate effectively about finances, which can strain or even break a relationship. Understanding each other's financial perspectives and goals can strengthen a partnership and turn financial planning into a collaborative, positive project.

So, where should you begin if you're feeling financially overwhelmed?

Start with identifying your #values. What's truly important to you?

Set #financial goals that align with your values rather than goals imposed by others. These goals should be meaningful and directly connected to what you value most.

Achieving financial clarity is the next step. Understanding where your money goes each month can reveal much about your habits and priorities. This process can be eye-opening and is essential for making informed financial decisions.

Once you have clarity, it's time to create a Cash Flow Plan. This is not just another budgeting exercise; it's a positive, intentional approach to managing your finances. It should reflect your savings goals, necessary expenses, and discretionary spending, all aligned with your values.

Reviewing this plan regularly and adjusting as needed ensures accountability and keeps you on track towards your financial goals.

Becoming mindful of your thoughts and feelings about money, both your own finances and others', can provide valuable insights into your money mindset. Whether it's a scarcity mindset or an abundance mindset, understanding your attitudes towards money is key to managing it effectively.

Remember, this is a gradual process. Don't rush. Take it step by step, and be kind to yourself as you build your financial literacy and confidence.

For further guidance and resources on starting your financial wellness journey, follow me on @consciousfinancecoaching for free tips and worksheets.

#moneytips #moneytipsforwomen #financecoach #carolglynn