Dealing with money can be extremely stressful, and is one of the top sources of anxiety for individuals and couples alike. What’s more, because we live in a capitalist country and society, our financial net worth is often tied to feelings of self-worth. Having more money can make us feel more powerful and confident; having less can leave us feeling insecure or of low personal value. While these feelings may feel normal, it’s important to remember that you are not your money. Here are some money-related rules to think about to help you feel empowered and in control of your financial situation–
You’re in Control of Your Money – It’s Not the Other Way Around
It can be easy to feel like spending, debt and bills are out of your control. However, the truth is, you own your finances, not the other way around. Take control of your finances. That may mean meeting with a financial advisor or financial planning professional if you haven’t already done so. It also means stepping up and getting involved by at least getting more information and a better understanding of what’s going on with your finances, even if you’re in a relationship where your partner handles most of the money.
Tackle Your Money Issues Head-On
Nearly everyone has some sort of bad money habit or money issue that they don’t like to think about. Maybe it’s the fact that each time you get paid, you blow a large portion of its shopping. Or perhaps you have a large looming student loan. The longer that you deny the fact that you have a “money issue,” and the longer that you procrastinate in handling it, the bigger it will become, and the more challenging it will be to face later on. If you want to be in control of your finances, you’ll need to confront any money demons you have as part of the process.
Plan, Plan, and Plan Some More
It can be so easy to get wrapped up in the moment, especially when it comes to money. In fact, if you’re saving a little bit more than you spend each month, it can even feel like you’re doing the best you can towards planning for your financial future. However, true planning takes more than that. Even if you’re young, you should be thinking about investments, retirement planning, planning for future children you plan to have, and more. What’s more, even if you’re married, you shouldn’t be relying on your partner to do all of this planning for you. While it’s something no one likes to think about, you never know what could happen.
Schedule an Appointment with a Financial Advisor Today
One of the most empowering things that you can do when it comes to taking control of your finances is to schedule an appointment with a financial advisor. At Harvest Financial Planning, LLC, our team is here to serve you. Please reach out to our financial planners by phone or online at your convenience for more information.