Money. When the subject of money is raised, how do you feel? Does the mere mention of the word make you feel excited, or do you shake in your boots? Money can either bring freedom and opportunity, or it can stir up sleepless nights, especially if you are worried about your financial future.
I’m sure we’ve all been there, wondering if we will have enough to pay the bills. I mean, what happens if something goes wrong?
Our financial fears aren’t just based on numbers, it can also be from feeling insecure in a world that’s constantly shifting. While the unknown will always be a part of life, that doesn’t help our situation or emotions.
Why Does Money Make Us Feel So Anxious?
Our financial fears come down to us feeling vulnerable if we don’t have enough. There’s always that question, what if I don’t have enough to pay my mortgage? What if I don’t have enough for that bill? What if I don’t have enough to retire on?
Even those people who seem to have it all can face the same issues. They’re not immune! After all, our society practically programs us to feel like we’re never doing enough, or will never have enough.
Then there’s the economy. How much doom and gloom do you hear? It’s always up and down. Headlines about recessions, inflation, or stock market crashes make it easy to feel like the ground beneath you is anything but stable. Aren’t the people with all the money supposed to help, yet they seem to be struggling too? No wonder financial anxiety is so common!
However, while the world may be unpredictable, you can still create a sense of stability for yourself, and that’s what’s important.
The Burden of Financial Stress
When your money worries creep in, they don’t just sit quietly in the back of your mind, do they? No. They affect everything! They affect your sleep, your health, your relationships. It’s devastating to say the least.
The problem escalates too, because feeling stressed over your finances creates more uncertainty and your fears are feeding off your uncertainty. This makes you feel even more powerless.
How to Face Your Financial Fears
Firstly, as I just said, fear loves the unknown. So, the first step is to take a deep breath, grab a notebook or if you can, create a spreadsheet, and list out your income, expenses, debts, and even if you don’t have any, make a spot for your savings. This isn’t designed to show you that you may have made mistakes in some areas, this is to help you!
Once you know where you stand, you can start figuring out where you want to go and what changes you have to make. One thing we should have all learned at school is to how to manage our finances. Personal finance can feel intimidating, but the more you know, the less overwhelming it becomes. So pick up a book, watch a video, or take a course. It’s important that you do.
Once you understand how things like savings, investments, and debt work, you’ll feel more empowered to make the right financial decisions.
Change the Way You Look At Money
What you have to realize is that money is not your enemy, although it’s easy to think it is. Instead of seeing it as a constant source of stress, try changing your mindset. Money is there to help you live, it’s not there to define your worth.
Whatever you do, don’t compare yourself to someone who you see as having ‘enough’ money. Chances are they have a lot of things, but a HUGE debt they can’t jump over. Therefore, instead of focusing on what you don’t have, take a moment to appreciate what you do have. Sure, being grateful won’t pay the bills, but it can change how you feel about your financial situation and motivate you to take positive steps.
Building Financial Confidence for the Future
For you to be financially stable, you don’t need a big fat bank account. Yes, that would be nice, no doubt about it, but it’s more about you feeling prepared. Every small step you take today, whether it’s creating your financial spreadsheet or learning about personal finance and investing, or just setting up an easy to follow budget, it’s planning for your future.
Even if things don’t go as planned, you will have options. It’s having options and knowing you can adapt that helps.
What you have to understand is that your financial future doesn’t have to feel like it’s out of your control. What you do have to do is face your fears and take control. That may not sound easy, however, you DO have the power to take your financial future in to your own hands if you start today.
There’s a great book called The Richest Man In Babylon. If you do nothing today except read that book, you may just see what I mean. You can make very small changes that will lead to big results! By taking the smallest of actions, you’re not just managing your money, you’re reducing your stress too!
Your financial future may be uncertain right now, but with a plan in place, you can change all that and approach each day with courage instead of fear.
