Money problems – solve through detachment

Concerns about money – existing challenges or fears for the future are close  to ‘top of mind’ for many of us. I thought it might be helpful to give some pointers in terms of ‘do’s’ and ‘don’ts’ in dealing with  financial challenges.First of all the ‘don’ts’. Do you succumb to any of the following feelings, which however understandable, will only hold you back in addressing your money issues :

– beating yourself up for past decisions that have led to financial problems
– blaming others for your problems (even if it is true to some extent!)
– denial of what has happened
– giving in to worry and to understandable feelings of helplessness
– feeling shamed by the position in which you find yourself

If any of above have a familiar ring to them, try the following instead. You will find them helpful is moving you forward :

– get on top of the facts :  your income/outgoings and assets/debts situation
– talk over your situation with someone you trust/get expert help if necessary
– calmly and realistically look at all the options open to you
– decide on your priorities, no more than a handful and act based on them
– make decisions that make a real difference: cut large expenditure items
– allow yourself treats, and not everything that contributes to your quality of life ‘costs’
– don’t look too far ahead; it’s ok to leave some problems for tomorrow
– keep lenders/creditors in the picture and be upfront about your situation

The above steps will help you to look at your situation in a detached and unemotional way, essential for moving towards resolution of financial problems.  Remember that you are not alone and those whose cooperation you need are more likely to give it, if you show that you are doing your best.