Mind over money! Take that statement to the bank, matter of fact, print it and stick it on your wall, your fridge, your vision board. Anywhere you will see it constantly.. This reminder is important.
In our last two blogs, we have talked about money disorders. We discussed the common money disorders as well as the symptoms of money disorders. Today we will tell you how to deal with them.
The basics of financial health aren’t complicated, anyone at any level of wealth can master them.
Once you challenge your distorted financial behavior and start practicing great money habits like tracking your expenditure, not only do you become richer, but you also become emotionally wealthier.
With that being said, here are some ways in which you can deal with that money disorder that has been pulling your financial progress behind.
Nathaniel Branden really hit the spot when he said, “The first step towards change is awareness, the second step is acceptance.”
If you want to deal with any money disorder, you have to accept that the current financial situation you are in isn't working; this then creates a mentality and attitude of change.
Yes, we know there’s a number of negative beliefs and stereotypes on seeking professional medical help from a therapist or a psychologist. But we have enough research that proves that this kind of help works.
A money disorder may require both professional medical help and that of a financial advisor, but no stress, we can be your virtual financial advisor. you can easily refer to all our previous articles and financial literacy sessions on our blog, you’ll find all the tips you need to start your financial healthy journey.
Team work makes the dream work! Talk to your partner about your finances, be honest with them. If you’re about to make a huge financial decision that affects both your funds, reach out to them and let them consent to the action being taken.
Money is a common cause of arguments in a lot of marriages, but this is avoidable by being on the same page and setting boundaries. For example, do you want to have the same bank account with your spouse/partner? Will that account be used for household expenses or fees? Answering these questions will help you better manage your finances and develop boundaries.
This is for the people with compulsive hoarding disorders. We understand how tough it can be to deal with the anxiety of needing more money all the time but you can deal with this by setting a goal and being intentional about it.
We’re pretty sure there are parts of your life you’d like to improve on, be it a new gadget or new clothes. Set a goal, stick to it, set a reminder on your phone or your calendar if you need to, and when time of maturity comes, enjoy the benefits. YOU DESERVE IT. You are more than your anxiety!
It can be tough to speak to a psychologist or therapist for some, in such situations, we would advise you to pull a friend or family member aside and talk to them about your financial concerns. A problem shared is a problem half solved.
In case you’re facing an issue like overspending, you could ask them to hold you accountable or support you when you choose to seek professional help.
Without recognition, change is extremely difficult, so identify the issue and tackle it like the champion you are.It is evident that the Kenyan economy is getting tougher by the day so it is best if we deal with these issues early enough to avoid financial regret in the future. One of the ways to deal with this is by saving with Koa. It’s easy and seamless, and with just a few clicks of a button you can watch your money earn a compounded interest rate of up to 10% p.a. What’s stopping you? Start by clicking here.
All the best in this journey! Don’t hesitate to share this article with a friend or loved one who might need the tips! Sharing is caring.