3 Steps to Erase Your Money related Fears


3 Steps to Erase Your Money related Fears


3 Steps to Erase Your Money related Fears

Fear and money are the chips of the same block. They are in tandem and complement each other like fish and chips or bagels and cream cheese. Money today is integral to the survival and life style of a person. It is needed for nearly every activity and securing of money has become one the greatest priorities of most people. When such is the importance of money it is natural that there tends to be a great sense of fear that surrounds it.

Money should be managed effectively on monthly basis and for some people this can be a process that is full of anxiety. If such is the level of your fear, there has to be change. In this blog you’ll get a 3 step process to erase you fears related to money.

Start on a Clean Slate

Money is usually managed on a monthly basis. You tend to look at each months truncations with respect to the ones that were done last year. This often makes the process less about the particular time period and more about the roll over’s from the previous time periods. This roll over is one of the reason for the added stress. To make sure you avoid such stress start your calculation simply from the 1st of the month and end it on the 31st, track only the transaction in this month and in the end look where you end up whether it’s the green light area or the red zone.

Identify your Problem

The only way to solve a problem is to have a clear idea of what the problem actually is. Only after you have identified the problem will you be able a find an effective solution to it. There are two common types of problems faced by many:

·         You barely breakeven:

If you are barely breaking even this means that what you are earning is hardly sufficient enough to make your ends meet. This means that any out of the ordinary expense is likely to put you severely off your budget. If your income can’t be increased then the only way to solve this problem is to cut down on your extra expenses.

·         You are unable to break even and have a monthly deficit:

When your month ends in the red and the expenses you have are more than you earn this means that you are in a serious financial spot of bother. This means that in this case you need to act and act drastically. You either have to work towards increasing your overall earning, or that you need to clamp down on the unnecessary expenditures.

Act

Fear can stem from lack of action. When one is gripped with fear there is a relatively low possibility that the person has willingness to act against the fear. To erase money related fears from your life though you need to act and make your monetary position better.

 

“Don't tell me what you value, show me your budget, and I'll tell you what you value.” ~ Joe Biden



 

A Selection of Quotes

“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” ~ Joe Biden


“We didn’t actually overspend our budget. The allocation simply fell short of our expenditure.”  ~ Keith Davis


“My problem lies in reconciling my gross habits with my net income.” ~ Errol Flynn


 


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