What scares you? What is holding you back and affecting your financial well-being? If you were not afraid, how different would your life be? I think fear is a major problem when it comes to finances. Do you have any of the following financial fears?
Budgeting. This is one of the most fundamental tasks for good financial management, yet how many people do it. Even keeping a simple list of how much you spend may send people running for cover. People can be afraid just to know how unbalanced their finances really are. They hope to win the lottery, inherit millions, or get a huge promotion down the line that will make all of their money fears disappear. Many have tried budgeting only to fail and say, “Forget it.” The best idea is to start small. Figure out what you spend in one month. I know it may be tough, even embarrassing, but only you have to know. Once you have tackled this, you can start a plan of action.
Learning new things. Education is one of the ways to financial growth, but many do not take this important step. This can take a considerable time and money commitment. People may be afraid of wasting the time, money, and energy only to fail, or maybe they fear it will not get them a better job. The fear of failure can be very strong. Learning is a lifelong process. If it is something you want to do and have an interest in, you owe it to yourself to try. Otherwise, you may regret it.
Implementing an idea. The world is full of ideas never implemented for one reason or another. Many hear the words “impossible,” “expensive” and “unrealistic” and stop before doing anything. Alternatively, a person may feel he or she lacks the ability to accomplish the task. If it is something you want to do, do it. Take it slow and plan out everything you can. It may be tough and you may have to do it alone, but it is better to have tried.
Talking to family and friends. You may be frugal, but your partner is not or vice versa. Maybe your friends are big spenders that expect you to drop a wad every weekend, making it hard to say no and risk a friendship. In addition, if you are deep in debt and cannot see the light at the end of the tunnel, your family and friends may be a valuable resource in finding a way out of your mess. Unfortunately, you may be too afraid and embarrassed to ask for help when you so desperately need it. Financial security is very important and if your family and friends love you, they will give you a listen.
I do not have the answers to overcoming these fears, and I wish I had the cure. Nevertheless, we all have fears that need overcome. Once we eliminate these, our finances and lives will become more rewarding.
Image courtesy of pcephotography