Halloween season is here! If you’re anything like my clients, thinking about facing your money fears can sound scarier than a Friday the 13th movie. Eeek! If your financial situation is scary, it can be filled with unanticipated spooks. Here’s the tea, your beliefs around money influence your choices. If fear is driving your money bus, you’re making choices that could be hurting you even though that’s the opposite of what you really want. Having the courage to face your fears might mean that you need to watch that movie with the lights on.
I don’t like watching scary movies alone, and facing money fears is a whole lot easier when you have a support system. Facing your fears helps you shift your money mindset – in fact, it can change your entire financial future, starting right this minute. Let’s take a closer look at why this is the best season to face your fears. Even though I love a good haunted house, no one loves a haunted financial house.
Since money is one of the most important aspects of life, it’s also one of the biggest sources of negative feelings and worry. According to the Mind over Money survey by Capital One and The Decision Lab, 77% of Americans report feeling anxious about their financial situation. No matter what the cause, money fears can creep up and keep you financially stuck for years. The only way out of financial difficulty is through. Actively managing your finances by facing the fears directly will help you feel more in control. It starts with looking your finances in the face.
Fear is a powerful emotion because it usually serves as self-protection. Stress, worry, and maybe even memories of other situations can add up to old and new fears, especially where money is concerned. Will you ever have enough? What happens if you lose it all? How do you know when it’s okay to invest? Your overall money mindset–including your fears–has lots of layers. And it’s up to you to peel them back and get real with your financial picture.
Your beliefs about money (especially whether you operate from scarcity or abundance mode) really drive the things that scare you about your finances in general. If you believe that you’re destined for a safe, comfortable life, you might fear the risk that comes from any kind of investment and sacrifice your potential for growth. Fear is such a huge obstacle to overcome. It holds you back! The only way through it, though, is by facing it head on. Figure out what it is –specifically–so that you can work out new actions that will change your circumstances.
Facing your money fears by taking these first few steps.
First, start with self-reflection. Grab a notebook and set a timer for 5 minutes. Ask yourself this question: “What scares me about money?” Sit with that thought for a minute and start writing what comes to mind. You might be surprised what starts to show up as you work on this!
Step two: be kind to yourself. Even having the courage to put your fear(s) on paper gives you the ability to start thinking about what would be different in your life if you weren’t scared all of the time. When my clients do this exercise, they realize that their biggest fears are just that….fears. They are not likely to happen, but the fear is stopping them from making forward movement.
Step three: Overcome your fear by taking an active role in managing your money. Regularly tracking your money by keeping a regular “money date” with yourself (and your partner, if applicable) is a great first step. Holding the reins yourself by staying involved in your money helps to reduce the fears and worries that hold you back. It’s exciting when you realize exactly how much power YOU have when it comes to changing your finances for the better. It just takes awareness, a shift in mindset, and a proactive approach.
Joining a community to help you is a gamechanger
Facing your money fears isn’t easy, and being willing to get started on it now is courageous. The best part? You don’t have to do it alone. To learn more about facing your money fears, check out this blog. If you’re looking for a supportive group of women to help you take confident steps in your financial journey, join mine. If you need help getting your $hit together in a way that works for YOU, sign up for my next GIT Elevated Money Course today.