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Emotions Around Money

The Money Nerve
Emotions around Money

EMOTIONS around MONEY

“Emotions Around Money” – how does your money get sidetracked by your emotions? Some people say they don’t have any emotions surrounding money. And then they start talking about money and the floodgates open. I developed the Money Nerve concept by working as an accountant, financial advisor, and business consultant for over twenty-five years. I am thankful to the many people and businesses that I’ve helped who have, in turn, helped me.

I have spent decades sitting across from my clients—most of the time feeling more like a therapist than an accountant. I realize now that many people have money issues because emotions and money are tied together hand-in-hand, Many think they are supposed to know how to handle finances intuitively and can’t –but they are ashamed to ask for help. I see business owners, other CPAs, lawyers, therapists, doctors, and others in major financial crises. I am no longer surprised when clients come in, start talking, become emotional and break down crying. There is a lot of fear and shame surrounding “emotions and money.”

Define Your Emotions aka your “Money Nerve”

It’s time to start admitting, without shame or embarrassment, that we weren’t taught how to handle money (or that we don’t know all the answers). We need to bring our money issues out in the open and start changing our belief system to set ourselves up for success. What pinches your Money Nerve? If you have more month than money, it is time to explore a new pathway toward financial freedom.

Many people are in denial because they don’t want to deal with their financial situation. I had a conversation with a client that went something like this:

Client: I was more upset about coming to see you today than I was about finding out whether or not I had terminal cancer yesterday.

Me: Your priorities are messed up. It’s just money.

Client: I didn’t want to come to see you. My finances are a mess! I almost canceled. Now I’m glad I’m here—you always make me feel better. I know you’re still going to help me and get my mess all straightened out. I’m not sure why I was afraid.

Me: This is only about money. Do you hear what you’re saying?

Client: I know, I know.

Illusion of Money or Vision for the Future

Huge companies like Fannie May, Freddie Mac, or Lehman Brothers built their empires on the illusion of wealth. When the time came to pay up, however, their house of cards came tumbling down. It should come as no surprise that many individuals who make up these companies have the same problems. Many people’s lives are also a house of cards, an illusion.

If major corporations are having problems, you shouldn’t be embarrassed about your personal financial problems. It’s epidemic! FYI, there is no 700-billion-dollar bailout for you. You have to help yourself. Start today by creating your vision for the future. Define Your Money Nerve.

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Time Is Money ~ Benjamin Franklin’s Wisdom

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Time is Money

Have you ever analyzed that famous quote to see how it affects your life? Many people use “time is money” when talking about making more money. Indeed, Benjamin Franklin’s words ring true today. If you don’t maximize your time or money, you have essentially thrown both away and taken a loss.

Finding a Balance in Life

Think about a seesaw balancing your time and money. How do you approach “time and money” to create optimal benefits for you and your loved ones? Applying this integrated view may spark new ideas. Let’s take another look at this simple phrase and unpack some new options.

Grab a notepad and jot down your schedule for the next few days or the upcoming week. Take a moment to think about the time you have each day, the finances you have available, and determine if these two entities are moving you forward efficiently.

Articulate the dreams you hold and prioritize these goals so that you can start using your time and money to create a new life pattern. Setting key goals to achieve benefits your life as you acquire a fresh attitude, develop new habits and initiate change in your daily life.

Make Intentional Choices with Money and Time

Where do you want to be in one year? Five years? Do you dream of being free of credit card debt? Have you been hoarding travel brochures because you are longing to travel the world? Now is an excellent time to determine retirement goals too! Having goals generates more deliberate choices and boosts your potential for success.

Being intentional. You can find the time to get a second job or to invest in professional development/education. Honing your skills and remaining valuable is essential in today’s ever-changing environment. Determine where to adjust your work schedule to make time for family activities or the obligations of parenthood. Proactively set aside money today for a better life tomorrow. This process is all about finding the balance and value that makes YOUR life meaningful. And the most empowering part of this exercise is that You choose and You implement your life plan – it is your choice!

Goals to Change Your Life

Write down your dreams, project a time frame and you have set a new goal. Consciously choose what you value most in your life. Quiet all the negative voices or thoughts in your head. Use this outline to move forward and make a change because the only obstacle between you and your goal is time. Life is imperfect; you will make changes or readjust your forecast. That’s okay – life happens!

Remember this:

“There are only two days in the year that nothing can be done. One is called yesterday, and the other is called tomorrow, so TODAY is the right time to love, believe and mostly live.” ~ Dalai Lama

Being intentional and being in the moment are beneficial tools for creating value and living an abundant life. Be present this week, strive to maximize the time is money attitude, and live fully!

Bob