As I like to say, people will happily talk about politics, religion, and sex at a cocktail party but they will actively avoid talking about money at all costs. So why are people so afraid to talk about money or become more proactive with how they manage it?
Financial fear is standing in the way of so many people fully standing in their power, financially and otherwise. It’s standing in the way of individual financial freedom and choice as well as the overall financial health of our communities and economies.
It’s time to begin clearing away the fear, and start healing and transforming our relationships with money.
So if you’re saying “good idea, Beth – but how do we start doing that?” you’re not alone. Here are 3 things to consider that might be adding to a heightened sense of financial fear:
1) You feel embarrassed and guilty that you’re not better with your money than you are – Many people feel that they “should” be more in charge of their money, and that’s just not helpful energy. Instead, try forgiving yourself for any financial mistakes you may have made in the past, and if it’s more a matter of wanting to become more proactive (vs. reactive) then make a conscious decision to take one step toward learning something new about your financial situation. You’d be amazed how quickly one small step at a time builds your money management skill set and gives you more confidence!
2) You think that you are alone and/or the only one who didn’t get the “money memo” when you were growing up – Let me clear this up quickly, you are NOT ALONE! Almost 70% of people live paycheck to paycheck and 76% of people feel out of control when it comes to their money according to some recent studies and statistics. So you’re actually in the majority if you’re feeling frustrated and afraid to talk about money or perhaps even ask for help. Take it easy on yourself, ok?
3) You were never taught how to manage your money and don’t even know where to start learning – I’m going to avoid hopping up on my proverbial soapbox about this particular topic (because then this article would begin to sound like a rant!), however suffice it to say that finances and money management aren’t actively or consistently taught in our schools or in our communities. How are you supposed to know how to build a financial plan if you’re never taught the finer art of doing so? The fact that these skills aren’t taught is a major barrier to people achieving any type of financial independence. However, I’m happy to say that proactive money management skills can be systematically taught and learned.
So here’s the summary in a nutshell: You are NOT alone and don’t need to be embarrassed. The majority of people weren’t taught how to manage money and are feeling overwhelmed. Being financially proactive IS a teachable and learnable skill.
With all of this in mind, what is the first thing you’ll do for yourself to let go of some of your financial fear? I’m all about taking small steps toward financial freedom, don’t let it overwhelm you!
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