An Approach to Financial Success

An Therapeutic Approach to Financial Success

Whether you’re a big spender or a saver, your level of financial success may not be what it appears. Almost everyone knows what it’s like to be stressed out by financial decisions, but for some, it goes beyond the occasional stressor to an underlying psychological problem. That’s when you need a Money Coach. Money is the #1 source of stress in people lives, and it’s been the top stressor every year since 2007.

What makes a Money Coach different from a traditional financial planner and talk therapist is that a Money Coach focuses, on providing both financial and psychological help.

Here are Five Major Signs that you could enjoy financial success by working with a Money Coach.

1. Are you avoiding your financial problems?

We can all relate to feeling reluctant to open a bill, but letting your debts and financial obligations pile up could mean you are suffering from financial denial and lacking financial freedom.

Warning signs:

You don’t open your bills or only look at the minimum payment.
You constantly borrow money or get a new credit card.
You have no idea how much debt you’re holding.
You cling to the idea that things will work out somehow.
You avoid conversations about money or just tell loved ones everything is fine.

Is this you?

2. Are you obsessed with being frugal and budgeting?

Being careful about how much money you spend is sensible, but even being frugal can get out of hand. “Underspending” goes beyond skipping unnecessary purchases, to neglecting one’s needs because it’s too painful to part with cash.

Warning signs:

You skip going to the doctor to avoid a small co-pay.
You won’t pay for basic necessities like a dentist or repairman.
You’re constantly worried about money even though you have a healthy savings and minimal debt.
You take advantage of other people if it means saving money or getting something for free.
You refuse to invest any money, even if it’s a low-risk option like a CD.

3. Do you repeatedly give money to an adult child?

Financial enablers share their wealth in a way that keeps the receiver from becoming independent or taking responsibility. This is most commonly seen with parents of adult children. While a little assistance is fine, too much can create problems for both giver and receiver.

Warning signs:

You give money so often that your loved one has stopped trying to support herself.
You give money away even though you can’t afford it.
You’re struggling financially, but your adult child is going on shopping sprees on your dime.
You are resentful but can’t imagine saying “no.”

4. Are you completely reliant on others to handle your finances and budget?

While there’s nothing wrong with being a stay-at-home mom, people in all kinds of financial situations can grow too dependent.

Warning signs:

You resent feeling like your money comes with strings attached.
You have never supported yourself alone or managed a budget.
You lack basic financial knowledge.
You’re in an unhappy relationship, but you fear leaving and supporting yourself.
Your self esteem is lacking.
You have no budget and idea how much money or debt you have.

5. Does accumulating money make you uncomfortable?

While it’s a problem many find hard to imagine, an aversion to wealth and financial freedom can be a sign of a serious money disorder called financial rejection. Warning signs:

You make much less money than you could be with your skills and education.
You give away money because you don’t feel entitled to it.
You turn down promotions or chances to increase your financial security.
You work for free or undercharge for your services.
You feel there is political virtue in not having money.

I offer a step by step therapeutic approach to financial success through my work of Money Coaching. People who don’t need my services are easy to recognize — They are the ones who budget and listen to financial planners, and when they decide to take their advice, they follow it effortlessly. However, research says that only 20% of people will respond this way when it comes to personal finance.

Tammy Lally The Money Coach. To your financial success.