When it comes to money, people aren’t always as good with it as they should be. This can lead to money shame, a negative mindset that may only exacerbate a person’s problems with spending. Thankfully, living with money shame isn’t a permanent thing because there are ways to cope with it.
What is money shame?
Do you ever tell yourself: “I’m bad with money?” If so, you know what money shame is. It’s an internal feeling that crops up from not being responsible with money. It tends to crop up when you have a history of lousy spending rather than after the odd splurge. However, that’s not the only time. You can also experience this shame when comparing your spending negatively to others. For instance, if people say you should have x amount of money saved by this point in your life and you don’t, that feeling can surface. Basically, any kind of moral judgment on your spending is bound to leave you shameful.
Acknowledge your shame
Having money shame can influence your spending behavior significantly. That’s why you need to keep it under control, and to do that, you first need to acknowledge its origins. What is it that’s making you feel bad about how you deal with your finances? Your parents? Articles you read online? Yourself? Once you know the answer, it becomes easier to get rid of it.
Find replacement actions
After making a poor decision with money, it’s easy to wallow in mistakes and feel shame. Doing this won’t help you fix the problem, though. Instead, you need to consider what you can do differently in the future to avoid the situation repeating itself. For example, if you missed a bill deadline, change it so that you pay your bills automatically. That way, you won’t have a repeat of this behavior, and you can turn that shame into determination.
Avoid negative financial talk
Debt isn’t ideal, but for a lot of young Americans, it’s an unfortunate reality. In fact, it’s so common that the notion of being bad because you’re in it is simply ridiculous. Anyone or anything that tries to put you down because of your debt is worth avoiding from now on. As long as you have plans in place for how you might repay what you owe, that’s all that really matters. Everyone else can keep their judgments to themselves.
Talk with someone supportive
Knowing what to do with your money can be tricky because people often aren’t taught about responsibilities like this. That’s why it’s worth contacting a personal finance expert who can guide you towards a better future. Just make sure you shop around for someone who will be supportive of you, rather than take the judgmental approach. Otherwise, you won’t be able to shake off that money shame.
Nobody is perfect with money. Everyone’s bound to experience shame at some point, so you shouldn’t let it get to you. Instead, just focus on the positives and how you can ensure that things are different financially in the future.