We all at least share one budgeting tip once or heard a smart money suggestion from time to time. But, let’s accept it, regardless of how practical financial advice may sound, some of it ignores the reality that we want to enjoy life.
Friends often tell me about times when they were “good” with money, such as when they saved for a vacation, purchased insurance, or paid off credit card debt. I frequently find myself asking them how they feel after their positive financial actions after hearing what they’ve accomplished; I’ve heard responses such as “calm, proud, in-control, excited.”
We try to get that Starbucks frappe, go out to eat, and take a vacation because we all need joy, rest, small pleasures, and self-care, don’t we?
Then a shame spiral kicks off. “I shouldn’t have bought that,” we think. “I’m never competent enough to stick to a budget.” This reminds us of all the other times we’ve made financial mistakes, such as forgetting to pay a bill on time or maxing out a credit card for things we want but don’t need. This experience, combined with other negative money experiences, can lead some people to ignore financial planning entirely.
Don’t get fooled
Your emotional reactions to money, based on previous experiences and mistakes, may cloud your ability to celebrate when you make wise decisions. Want to know my secret to getting control over these types of emotions?
I try to spend my money in ways that bring me genuine joy and allow me to be proud of my small accomplishments.
Maybe we don’t get frappes every day, but you treat yourself to one weekly. If you are saving for a down payment on a car or a house, you might consider every ₱10,000.00 you save as a milestone worth celebrating.
Celebrating financial success has a powerful impact. It reinforces our ability to improve our relationship with money when we celebrate our progress along the way. The more we celebrate such victories, the more it confirms that we can all be good with money.