By: Barbara Knoblach, PhD., FPSC Level 1 ®
“These are my New Year’s resolutions…”
We all start the year with a collection of resolutions to improve our lives. We want to lose weight to fit into new clothes; we want to join a gym to improve our fitness; and we want to enhance our financial situation to provide more security for our families and ourselves.
But while our plans have the best of intentions, many people face emotional roadblocks that detour, or completely derail, the follow-through required to achieving these goals.
This is especially true in the area of personal finances. While financial decisions can be very analytical – based on facts, figures, charts and graphs – many of these decisions come face-to-face with emotional roadblocks that overtly affect the decision-making process.
Fear, Shame and Guilt
Three of the most troublesome emotions are fear, shame and guilt. People fear they do not have the knowledge to make wise financial decisions. They are embarrassed that others may be more successful than they are. They feel the guilt that they cannot provide financially for their loved ones – or even themselves.
The negative emotions some people feel towards their personal financial situation often prevents them from seeking professional help. Unfortunately, they cannot bear the thought of opening up about their finances to an outsider – they are simply too embarrassed.
As a Certified Money Coach, I employ many different tactics to help clients overcome these emotional roadblocks that stand in their way to improved financial well-being. Continue reading