Are you one of those amazing women who make a good income but find themselves with nothing to show for it? 🙋♀️ Don’t worry; you’re not alone! Financial anxiety, money stress, and budgeting challenges can happen to the best of us. But guess what? We’ve got your back! Today, we’re going to talk to you about overcoming money stress and anxiety. If you’re afraid to look at your numbers or if you don’t understand your numbers, both of those things can contribute to money stress and anxiety.
“If you’re afraid to look at your numbers or if you don’t understand your numbers, we’re gonna talk to you about that and we’re just gonna help you get over it.” 🤗
136 | Facing the Numbers: How to Start Budgeting Even If You're Afraid to Look At Your Money (Get Rid of Anxiety & Stress) – Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans
Discovering Your Financial Starting Point: Net Worth
You might be thinking, “Where do I even begin?” Well, the first stop on your financial journey is calculating your net worth. 📈 Net worth is like your financial report card; it tells you how well you’re doing. So, what’s it all about?
👉 Assets vs. Liabilities: Your net worth is the difference between what you own (assets) and what you owe (liabilities). Assets include your savings, investments, and anything valuable. Liabilities? That’s your debt, like student loans or credit card balances.
Once you’ve got a grip on your net worth, you’re on the right track. It’s like finding your GPS on a road trip; you need to know where you are before you can decide where you’re going.
“Your net worth is a good snapshot. It’s not the end, it’s just the beginning.” 📸
Spotting Red Flags: Debt and Savings
Now that you’re armed with your net worth, let’s look at two important red flags on your financial radar.
- Debt vs. Income: Take a moment to compare your debt payments to your income. If your debt is outpacing your earnings, it’s time to address it. Debt shouldn’t be your financial BFF; it should be a temporary guest. 🙅♀️ If your debt minimum’s are higher than your mortgage, that’s a big warning sign. 💸
- Saving Money: Are you able to save money each month? Savings should be part of your financial strategy. If you find yourself dipping into your savings or investments every month, it’s time to hit the brakes. 💰 We want you to save on purpose, not just for the rainy day but for the sunny ones too. 🌞
Create a Budget and Let’s Get Real!
It’s time to dive into the nitty-gritty of budgeting. This is where your financial roadmap comes to life. But hey, we get it; some folks are afraid to even look at their finances. We call it the “ostrich with a head in the sand” approach. 🐦 But that won’t get you anywhere, except maybe buried in stress and anxiety.
“It might not be as bad as you think. And you can do it at one afternoon.” 🗓️
- Start with Listing: Begin by jotting down your income and expenses. What’s coming in, and where’s it going out? This basic budgeting exercise can be eye-opening.
- Don’t Fear the Numbers: Don’t be afraid of those digits. Remember, even millionaires started somewhere. 🚀 Give yourself permission to be a beginner.
- Take Baby Steps: Rome wasn’t built in a day, and your financial freedom won’t be either. Start small and gradually build your financial muscles.
- Be a Good Steward: Make savings and investments untouchable. You deserve the peace of mind that comes with knowing you’re in control.
Take Action Now and Enjoy the Journey!
So, here’s your action plan, lovely readers:
- Calculate Your Net Worth: Start by calculating your net worth, understanding where you stand financially.
- Spot Red Flags: Identify if you’re struggling with debt and lacking savings. These are the areas you need to work on.
- Create a Budget: Don’t fear the budget; it’s your financial compass. Make it a fun activity with your partner or an accountability buddy.
- Start Small: Remember, everyone starts somewhere. Don’t be too hard on yourself; progress is progress.
- Track Your Progress: Keep an eye on your net worth, debt, and savings. Watch as your financial situation improves over time.
Remember, it’s your financial journey, and you’re the captain. ⚓ Take the helm, embrace your numbers, and sail toward a brighter, financially empowered future! 💪✨
“You deserve the peace that comes from knowing exactly where and what your money is going and doing.” 🌈
Remember, overcoming money stress and anxiety starts with that first step. Don’t be afraid to begin your journey towards financial clarity and peace. Ready to take control of your finances? Book a free call with us, and let’s chat about your unique situation. 📞 Your financial future is looking brighter already!
Book Your Free Call Now!
We are excited to create the time & space to talk to you about your current money situation. This is a free, no-obligation call where we can answer questions you may have and maybe find some quick wins for your budget.
What do you have to lose?