Hey momma! Today, I’ve invited my dear friend Nicole to come share with you some amazing tips for helping tame the money monster! I was so excited for this post, because I know that it’s not any fun creating the monthly budget or looking at what feels like insurmountable debt. I was relieved to hear that it didn’t have to be such a chore at least not after you look at all your books the first time. You can control your spending and you can rein in that debt! You have the power. Be sure to pop over to Nicole’s site, Money with Moxie for more tips!
Why ignoring your money problems is stressing you out
Money has always been my jam. It’s never something I have shied away from. I enjoy the process of managing my money and for the most part, I’ve been really good at it!
So, when I started planning my wedding, I got right into action. I made the conscious effort to decrease costs wherever I could. We were paying for the wedding ourselves, so we wanted to be careful. We decided to have a small wedding and get married in Mexico so I went over everything meticulously, trying to keep the costs low wherever I could. I bought my shoes on clearance, limited fresh flowers and asked a friend to DJ. But with everything I was trying to be so smart about, there was one thing I fell completely short on. Keeping track of all my wedding expenses in one place.
(and ummm, I have a Finance degree people)
Clearly, I know how to create a spreadsheet. I even LIKE spreadsheets. I knew I should have had a tracking system. But the truth was I didn’t want to know what all the wedding costs were adding up to. I didn’t want to see those little numbers funneling into big scary totals. I avoided and avoided until all the dust settled from the wedding and we were forced to look at how much we had spent.
And you know what? It wasn’t that bad.
Yes, we had overdone it. I already knew that. But it wasn’t as bad as I had built it up to be. All that worry and stress leading up to the wedding wasn’t needed at all!
Now, I see this all the time with my clients. They don’t want to know how much credit card debt they have, don’t want to know how much they are really spending on their kids.
But with some coaching, they confront the problem and I can see the relief sweep across their face when they realize it isn’t as bad as they thought. Even if the problem is worse than you realize, there is still relief in knowing exactly what you are dealing with.
Avoiding your money problems will only increase your stress level.
By bringing clarity to your money problems, you ditch the stress and move into a place of power that will help you figure out the best way to move forward. There is always a solution, if you understand the problem.
Now it’s your turn to take action.
Do you have a money problem that you have been feeling stressed about? Complete the two action steps below to bring clarity to the problem:
1) Identify your money stress. What keeps you up at night?
Pull out a journal and brainstorm all the ways you feel stress about money. Capture each problem, how it shows up in your life and how it makes you feel.
2) Identify where you need more information. What numbers do you need to fully understand the problem?
Start gathering the information you need by logging into bank accounts, looking over statements and finding the information you need to fully understand the problem. If that feels overwhelming, break it down into smaller steps. If it still feels overwhelming, break it down again. Baby steps are progress.
If you have gotten comfortable avoiding your money problems, bringing them to the light of day might seem really scary. I get that. But trust me when I tell you there is relief in knowing. By bringing clarity to your money stressors you will shift from of a place of worry to action. And action solves problems one step at a time.
Nicole Cooley is a Money Coach who helps her clients build tangible spending, debt and savings plans while exploring limiting beliefs and value alignment. Her company Money With Moxie teaches women to be powerful with money and use it as a tool to design their ideal life.