Money is emotional - Part 1
Managing emotions around money starts with recognising what you feel, then giving yourself a clear process for deciding what to do.
I often talk about becoming indifferent towards money. That needs explaining.
I care about money. I know what things cost. I run a business, have responsibilities and enjoy a good coffee. Probably too many good coffees.
By indifference, I mean getting to a place where money has its role without every movement in your balance determining your next decision.
That takes practice.
A large bill can still make you uncomfortable. A good month can still make you excited. You are human.
But when you know your income, commitments and priorities, you have something concrete to return to.
Before reacting, ask three questions: What has actually changed? What can I influence? What action does my plan require?
Sometimes the answer is to adjust your spending. Sometimes it is to seek advice. Sometimes it is to leave a considered decision alone.
Understanding your money habits gives you room to respond thoughtfully.
The objective is to make decisions you understand, even while you are feeling something.
