Creating a Positive Relationship with your Money
Reposted blog from America Saves Week
Money and finances can trigger a range of emotions. Throughout our adult lives we can feel shame for making purchases that we really didn’t need, confident about the amount of money we’ve saved for retirement or regret for not saving for emergencies when we had to use credit to pay for an unexpected expense. Many people will describe themselves as “good” or “bad” in how they handle money. Either description is probably an oversimplification, ignoring the more complex factors associated with our money.
Typically, money is a subject that isn’t openly discussed, even in families. Friends don’t share how much they spent on their new car, how much they have saved for retirement, or what their mortgage payment is. Whereas we often share stories with others when dealing with difficult situations to find support, money is more often regarded as something to “figure out for yourself.”
While today financial education, particularly in schools, is becoming more prevalent many working adults have not had formal education for managing their personal finances. Instead, we’ve learned from observing others or reading information online and then implement action plans for our own finances. Based on our definitions of success or failure we end up telling ourselves:
Our relationship with money doesn’t have to be fraught with tension, fear, or disillusionment. We don’t have to resign ourselves to the belief that we don’t know how to handle money and will never be able to save enough for our dreams and goals. Instead, with some mindset changes you can begin to change your relationship with money to create a new outlook for your saving journey:
Now that you’re on your way to a new and different mindset about money take the America Saves Pledge to get started working toward your saving goal. You can also tune into the The Perfect Bite for even more ways to stay positive and focused on your financial journey.