Address your financial shame
Financial shame is a complex emotion that many people experience due to various factors such as past financial mistakes, societal expectations, or comparisons with others. I’ve so often looked around and felt shameful for my choices, or mistakes. Sometimes it can even creep in with that “how are they doing it” feeling. When you feel like you give it your all and it’s still just making ends meet. While it can feel challenging, addressing financial shame in a neutral and positive manner can lead to personal growth and improved financial well-being.
Acknowledging financial shame involves understanding its origins and reframing it as an opportunity for learning and improvement rather than a source of guilt or inadequacy. By recognizing that everyone faces financial challenges at some point, you can develop empathy towards themselves and others, fostering a more supportive and constructive mindset. Every single person makes missteps. That does not determine your worth, nor your value. You do your best with what you know.
Moreover, embracing financial transparency and seeking guidance from trusted sources, such as financial advisors, financial therapist, or supportive communities, can help individuals navigate through financial shame with confidence. Open discussions about money management and sharing experiences can diminish feelings of isolation and empower individuals to take proactive steps towards financial literacy and resilience. Financial Feminist, Mind Money Balance, The FI couple, and Ramit Sethi have done a wonderful job of helping people talk about money and the complex emotions and decisions it takes to manage it.
Setting realistic financial goals and creating a practical budget can provide a sense of control and direction, gradually replacing feelings of shame with empowerment and optimism. Celebrating small achievements along the way reinforces positive financial habits and builds self-esteem. It’s like when things are going wrong, you can sit in your house in the middle of the mess and beat yourself up about it, or you can take a pause, acknowledge it for what it is, and do something small, something reasonable about it.
Ultimately, addressing financial shame in a neutral and positive light involves reframing it as a natural part of the human experience and an opportunity for personal growth. By embracing self-compassion, seeking knowledge, and taking proactive steps towards financial well-being, individuals can transform their relationship with money into a source of empowerment and resilience. I believe in you.