How to Stop Money Ruling Your Emotions
Have you ever noticed how you can feel anxious, angry, resentful or afraid when you think about your money situation?
When you get a bill that you don’t know when you can pay? When an unexpected cost comes in that blows your budget or financial plans?
Money and emotions are very connected, and when you don’t have control of your money situation overall, things will always come up that create negative emotions and add to your stress levels.
The only way to manage this flight to negative emotions is to master control over your money. That doesn’t mean you can change your whole financial situation quickly, and stop the stress. What it does mean is that you are prepared for the unexpected, and can deal with bills and life by knowing what position you are in today financially.
To get this control and peace of mind you have to do some work.
It is not the most exciting of jobs, but you need to take a look at what your life costs per month to run. There is a great tool for calculating all your expenses on the moneysmart.gov.au website. This will also ask you to put in your quarterly bills like electricity and gas etc, and it aggregates them into a monthly cost. Only when you have a complete picture of your money situation can you start to make clear decisions about taking control of…
Continue reading the article >
Vanessa Stoykov writes for Secrets of the Money Masters, a programme she founded, now owned by tech giant Iress for the education of financial advisers
Until next time,
Each day I wake up excited to inspire everyday people to open up and take control of their money, regardless of their history, goals, or savings amount. About Vanessa >>
Authors
Most Popular
-
“I WAS VERY SCARED”: INSIDE AN “ATO” SCAM
When Adelaide Uber driver Bhaumik Brahmbhatt got a call on his mobile from a woman claiming to be from the Australian Tax Office, he was immediately suspicious. According to the…
-
The Socialite and the Sous Chef
Got an appetite for fine dining? An exquisite restaurant that tantalises the.
-
There’s a Lot to Look Forward to
As it gets closer to the last quarter of the year, it feels like finally, th.
Related Articles
IT’S NOT TOO LATE FOR YOU
In my job, I meet all kinds of people, with all sorts of money challenges. In fact, one of the main reasons I love the public speaking aspect of my work is so I can talk to people, who after hearing me speak feel free enough to be able to tell me their stories…
How Finfluencers are teaching millennials and Gen Z about money
There’s been a lot of talk lately about the role of financial influencers, and what they can and cannot do to teach people about money and investing. Namely because the Australian Securities and Investments Commission (ASIC) has recently…
CANCER DOESN’T CARE IF YOU HAVE INSURANCE OR NOT
Why I’m Grateful for The Things I Hoped I’d Never Need
For 51 years I was fit and healthy. I’ve always been a sports lover and was involved in some form of sport from a very young age. The only thing that really troubled me…
Resilience is The New Black
It seems every month when I stop and pause to think what I would like to share, the landscape has shifted so abruptly, that I better it get it out there fast before something else comes up! Since I last wrote about moving past the pandemic, we have g...
Leave a Comment