Are You Feeling “Blue” About Your “Green” (Financial) Situation?

Many people are feeling the struggling economy. Gas prices have nearly skyrocketed in the past year, the housing market has slumped with nearly record high foreclosure rates, the unemployment rate has increased, and the value of the US dollar has decreased. Shoot, it’s enough to make anyone run for financial cover; that is in the form of decreased spending and transferred money into more stable accounts (e.g. bonds and guaranteed funds).

Often during such financial “woes”, many people suffer emotionally. Specifically, self-esteem and a person’s self-worth are affected by their financial situation. I knew a woman named Patty who was very positive and vibrant. Then she found out that the value of her house declined, and she had a high credit card balance. Patty began to feel anxious about her financial situation and felt very worried and stressed out. As days passed by, Patty had often shared how she could not seem to put anything into her savings account, no matter how hard she tried.

One day I asked her about her financial situation and how that was making her feel. She replied, “very helpless” and “drained”. As a result of her new found negative emotions, Patty also realized that other negative thoughts started to re-surface and bother her. As if a downward spiral had overcome her, sucking the positive life right out of her.

Then I asked Patty if she had a budget. She had said that she sort-of had one in her head, but nothing in “writing” so to speak.....*

Patty did create a budget on her computer with a spreadsheet program she had (i.e. Microsoft Excel), and was surprised at what she saw.....*

Patty also noticed something very profound. By having a budget, she noticed that she was feeling much better emotionally. Patty was experiencing a sense of control over her money and spending. As a result, she was able to come up with solutions and changes to her spending habits. Finally, with a sense of control, Patty was feeling higher self-esteem and increased self-worth.

There are exercises, (e.g. Budget Your Way Out of Financial Anxiety* and Accepting the Situation*) that can help someone dissolve financial “woes”.....*

Peace and wellness to all!

* Please note, these are highlights from an entire article in Higher-Self Living Paychecks. For more information, please visit our website at www.higherselflifecoaching.com.