Develop a better relationship with your money

Posted on Sunday, August 26 2012

What is the relationship you have with money?
• You earn plenty of it, but spend it faster than you earn it
• You hold on tight to your money and agonize over spending any of it
• You feel okay with the day to day stuff but feel overwhelmed with the bigger things like investing
• You earn a low income and are sick and tired of struggling
• You have no clue how much you actually owe, but it’s probably a lot
• You avoid opening any mail that looks like it might be a bill
• You are always broke, and when you feel down you spend money you don’t have
• You make an okay income and seem to muddle through but don’t really feel on top of things
• You don’t know how to organize your money and feel out of control
• You are always waiting anxiously for your next pay day
• Your credit cards are always maxed to the limit
• You are always borrowing money from friends or family
• You feel embarrassed about the mess you feel you have made of your financial situation and are reluctant to seek help

Do any of these statements sound like you? Do lots of them sound like you? Don’t feel like a failure as you are not alone. The majority of people have trouble managing their money. Although not everyone will admit it!

Over the years I have worked with people from all walks of life, from low incomes to extremely high incomes, from different education backgrounds, from different cultures and the issues are common to a significant amount of people. For many people being stressed about money or having money troubles often leads to low self-esteem and anxiety.

The great news is that these problems can be solved and everyone can learn to be good with money. All you need is to take your head out of the sand, make the decision to learn to do things differently and the determination to keep going.

Set aside some quiet time. Write down what your current relationship with money is today. Then write down what you would like your new relationship with money to look like. Now make a note of the actions you are going to take to start creating your new relationship with money. Remember even very small changes can make a big difference to how you manage your money. You don’t have to make radical changes over night. Making smaller consistent changes that become habits will have the biggest impact.

By Lisa Dudson

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Expert's Bio

Lisa Dudson

Lisa has been providing financial guidance in the areas of property, business and financial planning for over 12 years. She is the bestselling author of numerous books, previous Vice President of the Auckland and NZ Property Investors Associations and is one of the most experienced financial educators in NZ. Find Lisa On Google+

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