Finances and your Emotions

When you stop and think about your finances what do you feel? Do you feel dread at the impending due dates or are you excited by the fact that you’re saving for your future and how much you’ve accomplished? My guess is that you’re somewhere in between or you go between the two. Personally I am glad I am no longer frustrated by the due dates on my bills but I’m neither excited by saving for my future. I have managed to claw my way out of fear but unfortunately not to a point where I can see substantial steady progress (yet).Something I do feel is anger and frustration with myself for letting things happen the way they did. Again I’m sure that I’m not the only one in this situation. The best thing to do when you feel like this is to stop and learn from this emotion; if you’re angry and frustrated then your emotions are telling you that you should have known better. Listen and learn.

I am trying to do this but some lessons are very hard in life; especially when money and emotions are involved.

Over the years in my attempts to tackle my finances I have learnt a few things and one of the key lessons is to separate your emotions from money. Investing with your gut can be almost as bad as impulse shopping: only disaster can result. If you’re about to make a financial decision, especially a significant one and you have some reservations take a small step back and think about it maybe even sleep on it.

Never underestimate the power your emotions will have over you when it comes to money. Some people get scared when they invest and they play it too save others only think of the fun times and just dive into a new purchase not thinking about the long term effects. Stop and if you have any doubts or misgivings sleep on it.

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