Money: feelings count, the numbers don’t

What’s your emotional response to money?

Some of the most common reactions are stress, anger, shame, guilt and embarrassment – and we can experience any or all of these emotions regardless of our bank balance or income level.

It’s important to recognise the way we feel about money because emotions can impact the actions we take or avoid.  For example, financial anxiety might lead to putting off opening bills or it could make you feel like budgeting is useless, so you never come up with a plan for your spending and saving.

While we will all experience different feelings about our finances, experiencing emotions is normal. Becoming aware of your money emotions and their triggers will help you manage your feelings and the actions that you take.  You could do this by:

1.Recognising your fears – identifying your worries and unpacking why the exist. Ask if facing your fears could help you find ways to mitigate them.

2.Focusing on what matters to you – we all have different needs and different versions of success.  Make financial moves that work for you, not other people.

3.Taking small steps – if you’ve got a goal in mind, like developing a happy money mindset, saving for a house deposit or getting out of debt, make a plan to get there.  Ensure your strategy comprises of small actionable steps and put systems in place that support you to move in the right direction.