Money worries and financial hardship can be tough to deal with, and it's even harder when you feel like you're struggling alone. For many people, financial anxiety is accompanied by feelings of shame and embarrassment, especially when they compare themselves to friends who seem to have it all together. But the truth is, financial struggles are a common part of life, and there's no reason to feel ashamed.
Here are some tips for breaking free from financial shame and regaining control of your finances:
Acknowledge and accept your feelings
It's okay to feel anxious, embarrassed, or overwhelmed about your finances. Recognize these feelings, and accept that they're a normal part of the process. By acknowledging and accepting your emotions, you can start to work through them and move forward. Acknowledgement, acceptance and action are the three A’s that will take you where you want to go whether we are talking about money, dreams or anything else.
““More important than the how we achieve financial freedom, is the why. Find your reasons why you want to be free and wealthy.” ”
Focus on what you can control
Instead of comparing yourself to others, focus on what you can control in your own life. Take steps to improve your financial situation, create a budget, and start saving for the future. By taking action, you'll feel more empowered and less helpless. Strategize where you can cut back expenses. Cook at home more often. Gather friends for a picnic in a park or offer to host a pot luck supper.
Surround yourself with supportive people
Surrounding yourself with positive, supportive people can help you overcome financial anxiety and shame. Reach out to friends and family who understand your situation and offer encouragement. Engage your friends in joining you in budget friendly or alternative activities. If you don't have this support in your life, consider seeking out a financial support group or a therapist who specializes in financial issues.
Consider therapy
Working with a therapist can be a powerful tool for overcoming financial anxiety and shame. A therapist can help you identify and work through any underlying emotional or psychological issues, and provide you with strategies for managing your anxiety and improving your relationship with money. They can also help you develop a plan for regaining financial stability and offer support along the way.
your worth is not defined by your finances
Remember that your worth is not determined by your financial situation. No matter what your bank balance says, you're valuable and deserving of happiness, love, and success.
The cost of therapy can be a concern, but it's important to consider the value it can bring to your life. Many insurance plans offer coverage for therapy, and there are also sliding scale options available for those who don't have insurance.
Financial anxiety and shame can be difficult to deal with, but there are steps you can take to regain control and start rebuilding your financial health. Consider seeking help from a financial advisor or therapist, surround yourself with supportive people, and focus on what you can control. With these resources, you can overcome financial anxiety, make better choices, and reclaim your financial stability."
If this resonated with you watch for my upcoming blog on mindfulness.
About me: I came into the world of clinical social work later in life, after I raised my family. I’ve worked in the corporate world, small businesses, family businesses, and not-for-profit agencies. I now run my own private psychotherapy practice where I can directly work with folks who are struggling with life transitions, feeling lost or confused, or just knowing they want something better for themselves. People learn how to manage their anxiety, gain control of their choices and live the life they dream of. Our sessions are 100% online and I currently work with folks in New York, South Carolina and Florida.