You will do anything except think about your money...literally anything (reorganize the spice rack - check, clip your dog’s nails - check, Youtube rabbit hole about UFOs - check). Maybe it is fear or lack of trust in their skills with money -but this avoidance can exacerbate problems.
Trademarks:
Unopened bank statements, unopened banking apps (or no banking apps), a 401K match you have yet to sign up for.
Pitfalls:
Being a victim of fraud, missing out on opportunities for saving or investing, fear that you might not have enough for that fancy dinner or trip, lack of control or feelings of incompetence.
How To Work With It:
Create An Awareness Plan:
Download your bank app or an app like Mint or YNAB. Just check in on the transactions once a week (pick a day and time - Monday afternoons, Tuesday at lunch etc.) at your bank to make sure there in no fraud occurring in your bank account. Slowly de-sensitize yourself to looking at your spending.
Schedule Accountability Meetings:
Like with your HR person to sign up for your 401k match or with your family members to discuss bills or spending. You do not have to do it alone.
Learn About Money:
Sometimes we avoid money because we are scared to make a mistake or look foolish. Talk with that one friend or family member who seems to know everything about money. Ask them where they started. Watch some personal finance youtube videos. However you learn best - just try to learn one new thing a month. Check out this newsletter - it covers some of the basics in a fun way!
Make A Goal:
Create a separate bank account for a trip, an instrument, something that is not SO huge - but enough you could save in one year. Slowly begin funding this account through automatic payments and moving money whenever you have extra. This is a great way to create agency and capability around money while showing you that you can makes changes - and then you can reward yourself for those changes.
