If you’re often struggling to make financial decisions, it might be time to think about your money confidence. After all, if you’re always changing your mind and going back and forth over whether you should make that investment or lend that money or even just spend on something you want to spend, the anxiety isn’t good for you!
All you need here is a bit of money confidence – but that can feel a lot easier to say than it is to gain. But that’s where this post comes in. If you’re regularly paralysed by fear over what to do with your own money, it’s time to free yourself up and gain a bit of perspective over your financial situation. And here’s how to do just that!
Identify Your Own Spending Habits
The way you spend on a regular basis could be what’s making you feel so unconfident about money. If you’re getting in too many takeaways, for example, or you’re not filling up the piggy bank when you made a resolution to do so, are two habits that could easily tank your financial strength. And when it comes to making a difference, it’s these little things that really matter.
Get your bank statement out and see where the money is going. Identify all the problem areas, write them down, and then work out how much more money you’d have if you conquered the habit. Having that extra cash in the bank can make a big difference to the way you feel about your budget – it means there’s wiggle room there just in case something happens!
Sign Up to Money Support Groups
Plenty of people are in the same boat as you, and finding like-minded people is a good way to support yourself on this journey. So get online and look for financial support groups on platforms like Facebook or Twitter; people who are willing and able to offer a bit of advice or a nightly chat if you’re concerned about money.
You’re all coming from a place where your bank accounts have made you feel anxious, and it’s always comforting to realise you’re not alone! Money makes the world go round, and it can be incredibly isolating to think you’re the only one who doesn’t get it. Once you find out you’re not, your financial experience becomes less of a burden.
Take a Course
Dealing with money can be nerve wracking thanks to just how many different things you can do with it. And when you’re already lacking confidence in simply spending and/or saving the money you’ve worked hard to earn, it’s hard to face the idea of things like the stock market or investing in real estate, even if you want to try them out! And that’s why it might be time to learn how to handle these more involved wealth making methods.
If you’re curious about how your money could make money entirely on its own, you can take a course like that of https://idta.com.au/trading-coach/ to get to grips with the way trading works. You could also find plenty of video tutorials online, if taking an entire course isn’t your thing. As long as you’re doing a bit of research that’ll put your mind at rest about taking this kind of risk, you’ll be doing your financial health a favor in the long run.
Pad Out Your Savings Account
And finally, following on from all of this advice above, you might just want to start putting a few more pennies away. You can face anything when you know there’s a support net behind you, and a well stocked savings account is one of the best you can throw out there for yourself.
Start off small and slowly get bigger; it’s easier to put away $10 on the first week and $20 on the second than to try and budget putting away $100 in one go! Turn this into a habit you can actually commit to by using small increments like this – even if you can only manage a dollar right now, you’re still doing good for yourself by putting it where you’ll one day need it most!
If you’re often nervous when needing to deal with money, picking up a thing or two about handling your finances could go a long way in improving your money confidence. Don’t be afraid to talk about money matters, make sure you know your habits inside and out, and having a safety net to fall on never hurt anyone!
