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Besides writing this blog, I work privately with people who are looking for some extra support to get out of debt.
But sometimes debt isn’t the issue. Sometimes I work with people who can’t seem to spend money – on anything.
Recently, I was working with a woman who was raised in such a way that she had a hard time spending money on herself. She witnessed a mother who overspent and a father who killed himself working to feed her spending addiction.
The result? A woman who despite having no credit card debt doesn’t enjoy spending a reasonable amount of money on things she needs or wants.
She’s an extreme couponer, and even shopping for food has to be free or dirt cheap for her to part with a dollar. She’s constantly on the hunt to save money on the basics and prides herself in showing people how you can get something for nothing. It’s turned into her life long passion. But it’s crazy out of balance.
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Does this sound like you?
- Do you hoard money?
- Live frugally?
- Overwork believing this will create greater and greater security?
- Over-think every purchase you make (or attempt to make)?
- Does everything yourself?
- Save but fail to invest?
- Micromanage your money?
- You crave freedom, independence and believe the only way to create that is to do everything yourself?
If you’re a woman or man who hoards money, you crave freedom, independence and believes the only way to achieve this it to do everything yourself. Regardless of your income, you live within your means so as to avoid being in debt or a burden to anyone or anything.
The price you pay for this independence is often a secret fear of giving up your power and control. No matter how much money you have, you fear that one false move or unexpected disaster will make you poor. You fear losing everything and to end up homeless. You’re afraid to spend a penny because you see your savings as a means of security.
The result: You end up minimizing your needs and lifestyle, and most importantly your income earning potential, creating a cycle of over managing every penny that enters – or exits – your life.
So what’s a gal (or guy) to do that fits this description?
Here’re some tips to help balance out your thinking and feeling about money:
1. Work On Transforming Your Relationship with Money
By working on changing your relationship with money, you’re transforming your negative feelings and out of balance actions into an integrated balance of saving, investing, living well and appropriate spending free from guilt or concern.
2. Create Balance
Going to one extreme or the other with money is unhealthy. Overspending or never spending creates a disharmony that makes it difficult and sometimes impossible to build the vehicle in which money will effortlessly flow to you.
Creating a spending plan allows you to see where you money is going each month, factors in a “fun spending account” and encourages saving and investing.
3. Give Yourself Permission To Make More Money
Often time money hoarders unconsciously stifle their abilities to earn more money because of their fear of losing it and ending up destitute or homeless.
Start out small as to not overwhelm you. Conservatively raise your fees, or ask for a small raise; something that doesn’t make you ill just thinking about it. With these small adjustments, you’ll start down the path to earning from a place that meets your real potential.
Eventually, you’ll become more comfortable with making more money, and you’ll stop sabotaging yourself.
[tweetthis remove_twitter_handles=”true”]Money hoarding is the opposite of overspending but can have just as many downsides. [/tweetthis]
Freeing yourself from money hoarding just requires some changes in thinking coupled with positive actions that help you to feel safe but spend with greater ease on things that will improve your life.
Here’s a great affirmation you can say that will help your heart and head catch up to one another as you begin to balance out your frugal ways. I have other affirmations you might like to assist you on this journey. Grab them here.
So for those of you who are hanging on to every penny, unable to relax and enjoy the fruits of your labor it’s time to lighten up and live – even just a little.