Leaving Your Financial Panic in 2019

by Kim Engstrom

Financial Frequency. myCash

November 11, 2019 .2 min read

Are you ready for the holidays? How many times will you hear that between now and January 1st? 

Do thoughts of the holidays ever trigger panic for you around money? 

Sometimes a specific thought arises, like will I have enough money? or I’ll need more money or I spent way too much, what will l do? You start to beat yourself up and it becomes a vicious cycle. One of how much do I have and what do I need to do to get more?

Worrying about money keeps us trapped. It’s not simply about the money, it’s about your relationship with it. Even more so, your relationship to what’s so about the numbers. 

Ask yourself these questions. What is my relationship to money? Is it a love/ hate thing? What does money mean to me and what does it represent? How do I let it define me? One common example I see is money is work

Some other common relationships are:

"I have to work to make the money to pay the bills."

"Money represents how successful I am."

"The things I own are an indicator of my success."

So how do you avoid the money trap, nightmares and constant worry about the state of your bank account? Start by establishing a healthy money mindset around your relationship to the almighty dollar! These three steps will get you acquainted with the reality of the numbers, and the bottom line of your finances and spending habits. 

Get a Journal or Notebook

Start jotting down what your thoughts about money are and what money means to you. Consider your thoughts around money, the culture you grew up in and the values you adopted.

Get Acquainted with Your Personal Story About Money

Don’t let yourself get caught in the emotion of this exercise. Simply bring a nonjudgmental, nothing is wrong awareness to your spending habits, Notice how it may be limiting you. Talk to family members or people who know you to see how your beliefs about your current financial state is related to your family history. 

Look at What's Working and Not Working About Your Finances

You need to be willing to get the what’s so of the actual numbers without criticism. Track everything, and I mean everything, you spend for 30 days. This exercise is an awareness exercise for you alone.

This is a great start to get you thinking about your money mindset, and alleviating some of the stress around it. Next time we will explore what you make your money emotions mean about you! 

in this issue

  • safeguard your identity
  • date safe
  • cover your assets
  • protect yourself
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