Facing Financial Fears Like A Boss
Do you know what the scariest thing about being an adult is? Money. Not having it or earning it, managing it. Money management is the single most stressful thing that adults have to deal with, and it’s not something that we are ever really educated on. Unless you go into college to study as an accountant or within a financial major, you won’t hear much about balancing a checkbook and how to budget correctly for groceries. You won’t hear about how to save up for a house deposit effectively. It makes for a whole new world of stupid when we go out into the world not knowing how to pay the bills.
Think about it. We grow up in school being taught that mitochondria is the powerhouse of the cell, but no one sits us down and tells us that credit cards are probably not a good idea if you have the type of personality where indulgence is irresistible. We learn how to find ‘x’ in any equation, but we aren’t told how we can find a good tax attorney like Alexander Law Firm, LLC if we get into hot water with the IRS. Finances are messy and without the right help and advice, it becomes very easy to sink into a hole of debt and become harassed by bailiffs and black-listed by credit reference agencies. The answer? Educate yourself. There’s truly no reason to be frightened of your own finances if you are focused on keeping your personal budget balanced.
If you have gotten into the debt trap young, burying your head in the sand and stamping your feet isn’t going to help. You could be in so deep that you’re afraid to look at your bank accounts, and that’s just no way you should be living. That moment of weakness when you head to the stores and go nuts with your bank cards has happened to all of us, the thing that matters is how you fix the mess: and I’m not suggesting you return your shoes.
The first thing that you have to do is take a breath (and maybe a strong drink) and look at your bank accounts. Really look at them. Make a spreadsheet or write a list of your essential outgoings and make it so that you can balance those against your incoming salary. Then go through your bank account and work out what you’ve spent outside of your essentials. You see those little amounts? Those card swipes at Dolce or Starbucks? Stop doing that. Only take out what you need to spend on your essentials and leave the rest to pay off some of the debt that you have gotten yourself into. Don’t be afraid to speak to creditors and work out a payment plan; it’s all you have to do to get yourself back in the black and have your balance looking healthy again.
Facing financial fear can help you slay those dollar demons; don’t let them win.