Top 10 Emotional Money Lessons to Improve Your Finances Comments21 Comments

The following is a guest post. If interested in submitting a guest post, please read my guest posting policy and then contact me.

I know it can be hard to manage life’s finances, with all the random things that seem to always pop up unexpectedly. The Water heater suddenly breaks down or you go and buy something you really didn’t need, these mishaps will throw your monthly budget out of whack. What can you do, either try to play it safe or continue to take risks. The money lessons we have learned past and present, that actually make us smarter financially speaking must become a part of our everyday lives. The line of poverty for many is closer than you think. Living paycheck to paycheck is a rampant concern for many, but they will never admit that they live this way. I wonder if people knew that by just talking to special trusted others in their lives, how this first step can open you up emotionally to realize that you may need assistance with money management. If you recognize issues then you can remedy those issues. Fixing the emotional issues will help you prosper in the financial side of life. A few issues you might need help with can be obsessive spending, problems with debt, addictions that waste resources, loaning money to others, and starting a basic money budget. How can you play it safe with your money and guarantee that you can guide it in the right direction? See Below:

Money Lessons

  • Recognize that any issue can change for the better
  • Seek help and talk with somebody about the issues
  • Emotional decisions are the reason you are struggling with money
  • Avoid places that make you spend more money
  • Listen to your Gut and act on it
  • Avoid pressure from others to do things not in line with values
  • Be content to live within your money budget
  • List three money goals you want to improve upon
  • Make the three goals a priority with monthly reminders
  • Embrace change to improve your financial life

It takes courage to talk about issues, but why let it stand in your way. We all have our money secrets that we cannot even fathom sharing with the world. But once you finally do, the monkey will be released off your back. Debt takes time to fix, habits take even longer to change, but believe in yourself and you can improve. The only reason you cannot improve financially is because you can’t say no to yourself. The power to change is in how you think and if you abide by these money lessons, I believe you can be in a better place. We all understand that our future is not guaranteed, sorry to be morbid, but living for the now also makes your future a not so certain guarantee. Meaning that living for the now mentality can make you financially unprepared for the future. Take these money lessons to heart so that you can be ready for the problems that may arise later.

Stand on firm ground thinking to avoid quick sand mentality – Rich Uncle EL

Comment below if you feel the need to share a money lesson or if you want to share a money issue?

Author Bio: Hey guys you can find me blogging over at www.moneywatch101.com. I like to write about simple easy money topics, with an added twist based on my own personal financial battles and achievements. If you have a heart find me on twitter here http://twitter.com/moneywatch101 and hit follow and I will be forever grateful. If you prefer Face Book then go here: https://www.facebook.com/Moneywatch101

If you enjoyed this post, please consider subscribing to the RSS feed or you are welcome to leave a comment below.
This entry was posted in Financial Advice, and tagged , Comments21 Comments
By : Adam | 16 Jul 2013
Tweet this article :
Div line

21 thoughts on “Top 10 Emotional Money Lessons to Improve Your Finances

    1. Alexandra @ Real Simple Finances

      Christine, this is probably the most important thing to remember! When we experience buyer’s remorse or become stressed because our rent money was spent on an unnecessary pair of shoes there is no happiness. Instead, money has bought stress.

      Reply
      1. Christine @ ThePursuitofGreen

        Buyer’s remorse definitely! And things aren’t always returnable! I just resisted an urge to buy snowboarding gear. My husband and i have been saving for years to buy our own house and we’re reaching the end of that soon. Not a good time to splurge hundreds of dollars!

        Reply
  1. Jake

    These are great money lessons. My personal favorite is to be content living within your budget. So many people just want bigger and better, but it’s important to realize that you can be content right where you’re at.

    Reply
    1. Rich Uncle EL

      Being content is a virtue many have yet to accomplish, because the temptation to spend and live like the an ultra consumer is so high when the income gap is greater than expenses.

      Reply
  2. Thomas | Your Daily Finance

    My money lesson is make sure you talk about money before you marry a person. Sounds stupid to some but finances can destroy a marriage. I really like this lessons and one hard for some is doing what works for you and not letting others steer you from your goals. Some people don’t think anything is possible for themselves but don’t let them pull you down. Another money lesson is that money isn’t everything. Enjoy the free and wonderful things in life like family and spending time with them.

    Reply
  3. Jeremy Norton

    Managing finances is really a headache. As much as I try not to live paycheck to paycheck, it is really hard for me not to especially when I have other people to consider in terms of managing my finances.

    Reply
    1. Simon

      I can relate to that Jeremy, its never easy. It takes planning, discipline and communication especially with people whom the decisions you make financially are going to affect. Keep at it, baby steps :)

      Reply
  4. Liliana Good

    Teaching children and teenagers how to be responsible with money will give them lifelong rewards. A smart attitude and approach to finances when one is young is the best indicator of long term financial intelligence. Kids and teenagers who master these lessons are on the absolute right track towards a bright financial future.

    Reply
    1. Simon

      Couldn’t agree more…the habits we instill in our children and the example we set will be crucial for how they handle their finances later on in life. And I don’t think its that hard to do, we just have to be consistent with our efforts to teach them

      Reply
  5. Merle Rutledge

    You tell the world every day, in minor and profound ways, who you are, financially speaking. You express this through the clothes you wear, the car you drive, the house you live in, the shopping bags you carry, and dozens of other outward subtle cues. But are you telling the truth? More important, every day you also tell yourself who you are, by the choices you make with your money and the effect these choices have on your life and future. Again, how truthful are you to yourself? When lies are woven into the fabric of your financial life, that fabric will inevitably fray. Over the years I have come to learn that, to one extent or another, most people tend to lie about who they are when it comes to their money. I have learned the hard way that financial lies destroy financial lives, and that telling the truth about yourself and your money is the only way to keep what you have and create what you deserve.

    Reply
    1. Simon

      Honesty, alas is the best policy even in your finances. With it you face your finances squarely with no emotional baggage clouding your judgement…its only in admitting our shortcomings that we get ready to change them, thanks for sharing your experience Merle.

      Reply
  6. David S. @PBC

    Fixing debt will really require sufficient time and efforts on our part. We need to assess the entire situation such as reasons for getting into too much debt and how to cope with this situation. It takes a lot of determination and good points such as what you have mentioned in this post.

    Reply
    1. Simon

      All good things come to those who wait and are willing to make an effort. So is it with fixing your debt…takes a plan, discipline and some consistent hard work to get there. At the end of the day, its totally worth it!

      Reply
  7. James Brown

    Very nice lessons. I always thought that we should not share our emotion related to the debts but reading your article it sounds good to share it with my close ones. Thank you for this valuable post.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>