Money attitudes can be an absolute killer to your budgeting strategy if you allow it too. Whether you allow money to control you or you just aren’t responsible with it, it can really ruin any hope of staying on track.
There are varying attitudes towards money and everyone seems to take a different approach. If you were to think about going to the store right now would you make a list before you went and stick to the list? Or would you be likely to stray and find a few impulse buys that you just have to have?
The Different Money Attitudes
Avoiding money in a variety of ways can be damaging towards your budget. You can avoid money by not paying attention to your bank account or bills.
When you glorify money and believe that it will solve all of your problems you could run across some serious roadblocks. When you feel like money will always be plentiful then you may be carrying high amounts of debt. This could just be a revolving door that never closes which can be dangerous not only to your wallet but to your credit.
Do you ever feel like you need to keep up with your family or even your neighbor with your purchase habits? They just pulled up in a new car and now you suddenly feel as if you need to trade your car off? Keeping up with everyone around you will drain your wallet quicker than you could imagine.
Being over attentive with your money can also be a downer when it comes to living your daily life. If you’re super strict with your money and never spend it you are likely never having fun. You may not take vacations or treat yourself to anything nice. You don’t need to blow your money every time you get paid, but you also shouldn’t lock your money away in a vault and never let it breathe.
You must carry a healthy balance for your money attitude to not be poisonous for you. Take a moment to think about your relationship with money so you can properly address your budgeting issues and needs.
What Can You Do?
Getting out of the money mindset you’re stuck in can depend on which one it is. However, there are various things you can do to get past it. You have to put in the work, though because changing your money mindset and your financial situation is no easy task.
You need to become aware of your financial situation and your spending habits. Seriously, start today. Track everything. If you need to write your spending down use a spending tracker. You could even switch to using one account for everything so you can pull one statement at the end of the month and analyze your spending.
No really. You have a problem and you need to recognize it before you can move forward. Have you ever heard people talking about getting help with an addiction and the first thing they do is admit that they have a problem? It’s just like that. Admit the problem and accept it so you can lay out a plan to overcome it.
You have to take control of the problem. Depending on the actual problem it could be a slightly different method. However, you need a plan and support in place. If you have a spending problem then maybe you need to give yourself an allowance each month or each paycheck. Once the money’s gone, it’s gone. If you have an issue with keeping track of your accounts then make it a priority to login to your account daily and analyze what is going on there. Figure out the issue and take control!
Now that you’ve admitted and accepted your problem and taken control you need to welcome change into your wallet. Literally and figuratively. Allow change to happen as you make adjustments in your spending habits. If you find that something isn’t working for you then change it up and do something different. This could be anything from using cash for everything to giving yourself an allowance to spend.
Everyone has a different attitude when it comes to money. The attitudes vary so greatly and the internet has only compounded most people’s issues with finances. You dare to search for something on Google one time and for the next 3 months you’ve got ads following you around the internet telling you to BUY NOW. You go to your family’s house and feel obligated to spend because they are. I could go on but you get the idea.
Related: The Blissful Family Budget Course
Become aware, accept, take control, welcome change. It will take time and work, but it will be so worth it once you get back on track with your budget. Don’t allow your money to control you or freak you out completely. Fear is never a good thing when it comes to finances.
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How do you get past the money mindset and take control of your finances?
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