My Money Attitude for much of my adult life was avoidance. Except for paying the bills and talking to our financial advisor once a year, I didn’t think about money much. I worked as an addiction specialist for over 20 years and was more focused on helping than how much money was coming in. Then I started a coaching practice, my husband will be retiring, and last year I became Certified as a Money Coach. Now, I’m VERY interested to know more about money and how I and others, think about, manage and especially mismanage their money.
Here's a Quick Money Assessment:
Is your current attitude about your money more based on fear or peaceful?
Fear ___ Peaceful ___
Do you feel in control of your money? Y N
Or out of control, overwhelmed? Y N
Do you actively manage your money on a daily or frequent basis ? Y N
Do you avoid checking your balance? Y N
If you’re 35 or older, are you actively saving towards retirement? Y N
What I hear when I talk with clients is that our attitudes about money are all over the board – from total avoidance to obsessive worry. Neither effective strategies for feeling good about our money or helping it grow.
I also notice that people are rather clueless about how to manage the money available. I was and who can blame us? What money management practices did your parents teach you? There are folks may look really good from the outside – nice house, car, pretty clothes, upscale lifestyle. But because I’m a Money Coach I see what goes on behind their financial doors – not so functional. No judgment or blame – they’re doing what they believe they need to do to feel good about themselves.
Steve Repak’s new book: “Dollars & Uncommon Sense: Basic Training for Your Money,” suggests that retraining the mind is essential to changing your money habits and that it’s never too late. First he says you have to commit to wanting things to change, to be different. So true, as the addiction author Ernie Larsen said, “If nothing changes, nothing changes.” Repak suggests starting with small changes – instead of going out to lunch every day (can save 150.00 a month easy there) pack a lunch. Commit to reducing debt one card at a time. (Nothing new there.) And, this is my encouragement – stay focused on your financial goals, which means you need to have some to begin with. A good first step is to know where you’re at – income, expenses, bills, needs and wants.