Experts Say This Is A Key Sign You Have An Unhealthy Relationship With Money
Experts Say This Is A Key Sign You Have An Unhealthy Relationship With Money
By Natalia Lusinski Sep. 17, 2022
When it comes to money and budgeting, it’s often easier said than done. You may have the best of intentions — you’ll eat out less this month and put the money into your savings account instead. But then life happens. Just like working through any other life, fitness, or wellness issue, a little introspection is often the ticket. If you want to get your finances back in order, a financial psychologist or money mindset coach can help. It all starts with getting your head in the right place.
“Whenever things are in order, it brings us a sense of peace,” Severine Bryan, DBA, financial empowerment educator and coach, and founder of Sev Talks Money, tells TZR in an email.
“Having our finances in order doesn't necessarily mean we are debt-free, but it allows us to have a clear picture of where we are at. It is very important to know what is coming in and what is going out so we are not flying blind.”
She says she likes to think of organizing finances like taking a trip to New York City. “I can leave Georgia and end up in California if I don't know the details of the trip and if I don’t put specific plans in place,” she explains. “When I have a plan, I will go directly to NYC. And even if I take a detour, I will know how to get back on track to get there.” Ahead, Bryan and two other financial coaches explain how they help clients get back on track — and why it’s never too late to do so.
What A Financial Coach Does
Whether you consult a financial psychologist, money mindset coach, or similar type of financial expert, they all do variations of the same thing — help you figure out your relationship to money and how your past (upbringing) affects your present spending and saving habits.
“Part of what we're doing in financial therapy is to be able to really look with clarity at our circumstances — and how those circumstances change from moment to moment,” Financial Therapist Amanda Clayman tells TZR. She aims to help clients learn how to use certain strategies to get a money routine or practice in place.
Bryan adds that a financial coach can also help clients set financial goals, create a plan to achieve those goals, and provide accountability to help them follow the plan. “We also help the client dig deep to find what motivates them to achieve certain goals,” she explains.
“Because, many times, the goal is not money, but the things that money provides, such as freedom to make choices.” This can mean anything from wanting to eat out to buying a particular car or taking a certain vacation. “I think of a financial coach similarly to a football coach,” she adds. “The football coach gives the plays during training, but on game day, the quarterback is the one that has to make the calls.”
Finances can be a very difficult topic to discuss, Taryn Bushrod, money mindset coach and founder of Taryn’s World, tells TZR in an email. “Doing so exposes people’s vulnerabilities, and that can be extremely uncomfortable,” she says. “The first thing I do with a new client is build a relationship, so they are comfortable enough to start sharing pertinent information I need in order to help them start seeing results.” She then focuses on behavioral factors that impact spending.
“In doing so, you can identify the root cause of your actions and redirect your spending habits, which, in turn, could result in redirecting your funds.”
To continue reading, please go to the original article here: