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Hello Reader,

How are you feeling about money these days? Do you feel stressed or worried?

Even though money can make us feel on top of the world, it can also cause us to wake up in the middle of the night in a cold sweat.

Stress around money can happen when you don't have enough to cover your bills or when you start making more than you're used to.

Before we can break the cycle of worrying, it's important to understand how these emotions arise. Here are some reasons why you might be anxious about money.

• You were raised with deprivations
• Have unsteady or low-income
• You're struggling with debt
• You've had a sudden change in circumstances

We mention these reasons to remind you that your fears are often a product of your environment and situation. When you change certain aspects of your lifestyle you can start to feel calm about money.

That said, if you've been constantly worrying about money, we've got some tips to help you stop worrying and feel confident about your financial situation.

Here are 7 practical steps that you can take to boost your financial confidence and achieve greater life satisfaction.

1. Review your full financial picture. This first step might make your anxiety spike a bit, however, it's a necessary move. Like getting a shot at the doctor. That first initial pinch might hurt, but within a few seconds the pain numbs and you have taken a major step to protecting your health.

Your goal is to get a clear picture of where you are financially, by reviewing your past financial decisions. Before you start gathering your documents, decide how you want to approach viewing your financial picture. Here are some techniques you can try out.

• Take an objective standpoint. Remind yourself not to pass judgment. You can repeat mantras such as "My net worth is not my self-worth." or " This is just data, not judgment."
• Pretend you're reviewing the finances of a friend or family member. We are often more gentle with our loved ones than with ourselves
• Leverage AI. Different AI tools can give you an overview of your financial situation and take the hard work of calculating numbers.
• If you have the means, speak with a financial advisor or coach about your financial situation. They can offer professional insights and encouragement.

Once you have a plan of attack, start by looking at your bank statements and receipts. Categorize your spending into essentials (food, bills, housing, etc. ) and non-essentials (eating out, clothes, coffee).

This will give you a clear picture of where your money is going, and where you may need adjustments. You might even see that you're doing better than you thought.

2. Set specific financial goals. Setting financial goals for yourself will help you get your finances under control by giving you something to aim for and a plan to help you achieve your financial wishes.

The best way to set goals that actually work is to make them SMART (specific, measurable, achievable, relevant, and time-bound). Once you have your goals written out, you can make a plan to implement them.

3. Find a budgeting approach that works for you. Don't roll your eyes too quickly at the word budget. Remember there are many different types of budgets and it's all about finding what works for you.

Some people prefer the 80/20 budget that focuses on putting 20 percent towards savings and the rest you spend on needs and wants.

There is also the option to budget by categories, where you allocate a certain amount of money to different areas of your life such as necessities, travel, sinking funds, etc.

Investing the time to manage your money better can pay off in the long run. It may help you stay out of debt and save for your future financial goals.

4. Educate yourself. Remember when you didn't know how to drive a car? Getting behind the wheel was probably overwhelming and driving on the highway was terrifying. Yet once you learned the rules of the road and learned how to maneuver a car your fears went away.

This is very similar to financial education. The more you know about money the less scary it becomes.

To enhance your money knowledge you can tune in to finance podcasts read personal finance books, and keep reading emails just like this one.

5. Routinely review your spending. Checking in with your spending, weekly, or monthly can give you a lot of information to put you in control of your money.

If you find that your funds are low or you are overdrawn you may need to make some adjustments in your spending.

Remember our spending habits can change based on our mood, life situation, or emergencies. Staying aware of how your spending puts you in the driver's seat to make changes when needed.

6. Create a debt repayment plan. Debt is one of the biggest reasons many of us worry about money. Let's make a plan so you can take worrying off the table.

• Make of list of exactly how much you owe and to whom
• See which debts you can start making extra payments to
• Set up automatic payments so you don't think about your debt

Without a plan, debt can feel like an unbeatable monster. However, with a plan you can conquer debt in no time.

7. Focus on the things that make you happen. Money is involved in almost every area of your life. We can't eat without it, because money buys us food. We don't have shelter without it because money pays our rent.

While money is essential to life, it's not what life is all about. When we can turn our attention away from money and focus on spending time with loved ones, passing time in nature, listening to music, etc, we can start to feel happy and at peace.

No matter what your financial situation is, you can find something to smile about. Whatever that thing is focus on that. Make sure what brings you joy is a part of your daily life.

Not sure what makes you happy? Try some of these low-budget activities:

• Visit a library or museum
• Go for a walk
• Spend time with a good friend
• Listen to your favorite album when you were a teenager
• Take a drive around your local area

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Life is too short to spend time worrying about money. Put these techniques into practice and let the worry melt away.

As always we are here to support you. If money worry has become overwhelming you can reach out to one of our financial coaches who can help you relieve some of the pressure of managing your finances.

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📺 On YouTube

Check out this YouTube video on How to stop worrying about money.

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Tune into the Clever Girl Finance YouTube channel for more great videos!

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📖 On the blog

• ​7 Steps to define and align your money values for success​
• ​Why do I feel guilty after spending money?​
• ​How to spend money on yourself without feeling guilty​

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​🎧 On the podcast

• ​Why $10,000 in savings is a game-changer for women and their wealth journeys with Lissa Lumutenga

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Talk soon ❤️
Team CGF

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