Many people struggle with their personal finances. In fact, according to a recent survey, more than three-quarters of Americans feel anxiety about their financial situation. Action is the antidote to anxiety—you have to address your finances head on to see improvement. But sometimes, you don’t even know where to start. You’ve thought about seeking help, but you can’t seem to take that step. These three things could be holding you back:
You feel shame about your finances
Financial shame exists because our culture glorifies financial success and equates it with personal value. If you internalize this, you may fear being judged and found lacking, not just in financial knowledge, but as a person. Your value is not derived from how much money is in your bank account, but staying in that mindset will keep you stuck. Shame is so detrimental to getting help because it causes you to want to avoid and withdraw from others, and that is not very conducive to getting help. Let’s be honest, it’s unlikely that you will overcome shame on your own in a vacuum. Talking about it is the fear but also the solution. If you can show up and ask for help with your shame, you’ll be taking the first step to overcoming it.
You’re afraid that your situation is beyond help
Another reason you might be putting off asking for help is that you fear that no one can actually help you. You feel so deep into financial trouble that you don’t see a way out. We have a saying at the Financial Gym Advisors: everything financial is fixable. If you are feeling financial despair, there is a good chance that you also lack perspective. Because talking about money is taboo, you can’t put your financial challenges in perspective and might not know all of the options available to you. That’s where having the outside opinion of a professional is most helpful.
You aren’t ready to make a change
To change your financial outcome, you will have to shift your behavior. You may be avoiding getting help because—either consciously or subconsciously—you aren’t ready to change your current lifestyle or habits. You may be worried that a financial professional will put you on a strict budget or tell you to cut expenses out of your life, and you just aren’t up for that. But you don’t have to change your financial habits all at once. If you are willing to make any change, you will improve your financial situation. While one small change won’t solve your financial problems overnight, it will help you gain momentum in that direction. After you get comfortable with one change, you’ll probably be ready to tackle another.
Final Thoughts
You deserve help and guidance with your finances if you’re struggling. Don’t continue to let shame, fear, and the status quo keep you from pursuing the life you want.
