When I was in Atlanta, I was the most depressed that I’ve ever been. I was dead broke and completely miserable. Because of my depression, I attempted to get a handle on things and coped by shopping and eating. I drained my savings account on clothes, shoes, and good ol’ Southern food lol. I was out of control! Because my emotions were in a downward spiral, my finances suffered tremendously as a result. I don’t want that for you sis. That’s why I’m sharing the tea on some of the most common emotions that you feel that could be ultimately holding you back from reaching those money goals that you have set for yourself.

Let’s examine how these can have a great impact on your coins.

1. Sadness

Like I mentioned earlier, sadness and depression is no joke and is one of the common emotions that cause people to get a little reckless and out of control with their spending habits and overall finances. When you’re feeling down, you often are looking for a pick-me-up and guess what? Shopping is one of the top ways that people attempt to cope with their feelings. You might think that a trip to your local H&M is going to make you feel better and it just may! But listen, that feeling sis, is only temporary. Trust me, material things don’t take the pain away, no matter how much you think that they can and do. This can cause major damage to your finances if you allow yourself to use how you feel as justification to your poor spending habits. In this case, you need to identify the underlying issues and causes of your problem and work on changing. New coping skills should be identified and practiced. For example, some positive coping skills may include: talking to someone you trust, eating a good meal and exercise, writing in a journal, doing a hobby that you enjoy, etc. You have to do the emotional work here and I know it’s not easy, but it must be done. You got this boo!

2. Guilt

There are many ways that you may be feeling some type of guilt when it comes to your finances. You may be guilty about stupid decisions you’ve made in the past with your money. You may be guilty about not being able to give as much as you want to. You may be guilty about ignoring your finances and letting everything pile up. Whatever it may be that’s causing the feelings of guilt, those feelings are detrimental and have a negative impact on your financial well-being. Because of these feelings of guilt, you don’t make the best decisions with your money and continue to suffer as a result. You can’t change what has happened in the past, but you DO have control of what happens in the present and in the future. You need to learn how to let go and forgive yourself for everything that you’ve done.

“Maybe there’s more we all could have done, but we just have to let the guilt remind us to do better next time.”

— Veronica Roth


3. Anxiety

We’ve all been stressed out about our financial situation at some point in our lives. Whether you’ve been stressed out about all of your bills piling up, you having more month left than money, or how you’re going to even afford to eat, it’s something that’s totally relatable. Things can get pretty serious if you let it get out of hand though.  When you get to the point where you are stressing about money on a consistent basis, there’s additional things that you need to be worrying about.  Stress and anxiety can cause a ton of damage to you both psychologically and physically!  I want you to stop worrying so much about your finances and start doing the work that it takes to turn your situation around. You have total control over your finances and you have the power to change your situation and ease your anxiety.

4. Overconfidence

Ok, I’m not saying that you can’t be confident in yourself here. What I’m saying is that sometimes, being too confident can be a detriment. Because you may be overconfident, you feel like you have it all together and know everything you need to know in order to manage your finances successfully. As a result, you may start doing things too soon, like stopping your budget completely, or spending on things before it’s needed.

5. Embarrassment

Because you care about what others think about you so much, you feel like there’s pressure on you to spend more money. You are scared that people may judge you due to the fact you’re not wearing the latest fashions or driving the fanciest car. You don’t buy to please yourself, you buy to please others. The reality is this: no one really cares! You’ve gotta stop worrying about how others view you and focus on how you ultimately view yourself and your values. Be honest about your feelings and address them by making sure you do what will make YOU happy.

6. Fear

Fear is one of the most harmful emotions to a person’s financial wellness. You could be fearful of a number of things: fear of being poor, fear of being successful, or fear of asking for a raise. The list goes on and on. As humans, we’re always going to experience feelings of fear and self doubt at times because it is a normal human emotion.  Make it up in your mind that although you have these fears, you’re not gonna let them control you. You’re in control of what happens.  Just acknowledge that fear because you can’t just avoid it, that’s not gonna help anything. Acknowledge that the fear exists and then you tell that fear “I’m not gonna let you hold me back and control me, I have things to accomplish!”  That fear will begin to go away! You have to just make it up in your mind that you’re no longer gonna let it consume you.  Look fear in the face, take a deep breath, and keeping moving through that fear.  Here’s a tip for ya: the more unprepared and clear you are about your personal finances, the more fear will fester and grow. Gain control by gaining clarity and taking action.

Because we’re human, we’re bound to feel. We get sad. We worry. We get fearful from time to time. It’s ok! Just make sure that you are doing the work necessary to overcome these emotions healthily so that you can be complete and motivated to reach those money goals that you’ve set for yourself. I am confident in your ability to be great with your finances, that’s why I’m going to continue to challenge and push you.

Now let’s talk about it. Do you feel like your emotions have had an impact on your finances? How do you handle everything? Sound off in the comments, I wanna hear from you!

P.S. If you thought that this was insanely awesome or made you think about someone that you know, please share this with them!