I didn’t grow up with a ton of money.  My mom was a single mom raising two kids and working as a home attendant doing 12 to 24-hour shifts.

We lived in the housing projects in NYC even though the rent was low there was always a fear of eviction. We were always living in a state of anxiety when it came to money.

As I became an adult money issues continued to happen for me, as I had no guidance on how to manage money,  I lived in a state of lack when it came to my finances, I never felt like I had any money.

I avoided the mailbox because I feared seeing the bills which would make me anxious, which led to bills going into collection.

I started this perpetual cycle, when I did get money from my job I would first spend it on everything that I wanted and never leave anything for bills or savings. Then at the end of the month, I would get anxious and worried about all the bill collectors.

It wasn’t until my early 30s I decided I wanted a change; I was tired of living this way. My credit score was low and I was unable to move into an apartment, I couldn’t buy a house, or go on vacations because I mishandled money.

I felt so embarrassed and ashamed of my financial situation since all of my friends seemed to have it together financially.

I began to learn how to deal with my money insecurity by putting a plan into action and aligning with people who were managing their money well.

Since then I have been able to save up, move out of state, invest my money, and build a better relationship with money.

So many people deal with money insecurity but keep it silenced, this can cause inner turmoil and can impact people’s physical and mental wellbeing.

In this blog, we will discuss ways that you can develop a confidence approach when it comes to money.

Understanding Money Insecurity

Having money insecurity is having a lack of confidence regarding one’s finances, and the way that it manifests itself is by overspending, hoarding money, avoiding your finances, and having emotional triggers when it comes to speaking about money.

Being financially insecure can undermine our basic psychological need for high self-esteem and low stress. When you don’t have these basic psychological needs this can lead to financial cheating and reckless financial decisions.

Money insecurity can take a huge toll on your emotional and mental health causing high stress, anxiety, and overwhelm.

To fully understand money insecurity, it’s important to understand the root cause of the insecurity which can develop from income issues, debt, societal pressures to keep up with the Joneses, and childhood experiences.

For me, my childhood experiences played a huge part in my poor money management as an adult.

It’s imperative to break from the cycle of money insecurity.

Breaking Free from the Cycle:

Shifting Your Mindset

The way that you can start to shift your mindset about money is to first develop deep self-awareness around finances.

Ask yourself these questions:

How do I see money? How do I feel about having it or not having it? What does money mean to me? Do I believe there is enough for everyone or that there is not enough for everyone?

Becoming aware can be the segway to taking the appropriate actions to fix the issue, for example, if the limiting belief is “I’ll never have enough”, you can challenge this belief with positive affirmations based on evidence and examples.  

Reframing your relationship with money from fear to empowerment.  It’s important to embrace a growth mindset when it comes to money. Realize that this is a journey and takes time.

Take Control of Your Money

Stop avoiding and become familiar with your finances: The majority of our stress of uncertainty stems from a ‘fear of the unknown.

You have to tackle the bull by the horns and look into your finances. Track your income and expenses to gain awareness of spending patterns.

Create a budget that aligns with your values and goals, preventing you from spending outside of your budget.

Energy of Money

Understanding money from a spiritual sense can change our relationship with money, transforming the way we earn, spend, and share it.

Being in a place of gratitude for all that you already have amplifies its spiritual energy, we move from the state of lack and open into abundance.

Be open to giving to others from your heart, you not only attract positive energy that not only benefits yourself but extends to others, money operates under the law of giving and receiving.

Make sure you practice detachment from material attachment, recognizing that material satisfaction is temporary, and you have everything you need within yourself.

Seeking support and resources

Learn…..Learn…..Learn

It’s important to increase your financial knowledge, the more you know the better you can feel.

You can go on YouTube and find so many resources on ways to create budgets, and manage finances, and investments.

There are also plenty of free resource websites such as clevergirlfinance.com, that have helped me come up with strategies and game plans when it comes to my finances.

You can also build a community of like-minded individuals for encouragement and advice, with social media specifically Facebook groups that you can utilize to support you through your journey.

Conclusion

In conclusion, overcoming money insecurity is a transformative journey that requires a combination of practical strategies and a shift in mindset.

By embracing financial literacy, cultivating a savings habit, understanding the spirit of money, and setting realistic goals, you can regain control over your financial well-being.

Simultaneously, developing a positive relationship with money, practicing gratitude, and fostering resilience in the face of setbacks can contribute to a healthier and more empowered financial mindset.

Remember, the path to financial security is unique for everyone, but with determination, education, and a commitment to change, you can break free from the shackles of money insecurity and pave the way toward a more stable and fulfilling financial future.