Money Stress: #1 Source of Stress for 75% of Americans?
True, according to the American Psychological Association. I talk to people every week in the Central Valley of California that are losing their homes, are upside down with their mortgages, have been "downsized," lost their jobs, filed bankruptcy and are in desperate financial struggle. Many are blaming themselves for their financial problems and feel guilty and ashamed as if it's all their fault. That's not the whole picture. (Footnote: Originally written in 2009 and the home market is improving, but there are still many homeowners holding on to homes and struggling financially, or trying to modify homeloans and financial stress is still #1)
While it's true we are ultimately responsible for the good and bad choices we make about money, it's also true that it's hard to make good decisions about money when we get bad information or are poorly trained in money matters. We Americans should be paying attention to the fact that the financial institutions have made a LOT of money in the last couple of years. We need to hold ourselves AND these institutions accountable.
2 Keys to Create a Healthier Relationshio with Money:
1) Raise Your Money Consciousness and assess where you're at by asking these questions:
* Do you avoid the topic of $ or obsess about it or alternate between the two extremes?
* Can you talk about $ with your partner? If not, what's uncomfortable?
* What's your greatest fear about money?
2) Finish Your Unfinished $ Business:
When I was a girl I asked my Dad something about my parents finances and he told me it was none of my "blankety, blank business." That told me money was a scary subject and better left alone. It took me a long time to discover that memory and to realize that avoiding the topic of money made things worse.
Think about and journal: What's my earliest money memory? What's my greatest money fear? How do these positive or negative memories show themselves in my life today?
As we individually work to heal our relationship with money, hold ourselves and our financial institutions accountable, we will shift from being so STRESSED about money and be more confident with our $ decisions.