We have different experiences, origins, and cultures so we might have a unique interpretation and way of handling money. That’s why we can’t blame other behavior towards it. Some treat it like a simple matter of spending and saving while others really struggle with managing it.
Many people borrow just to buy whatever will make them happy and end up suffering financial stress; others are very occupied with how to budget their salaries, daily expenses, savings, and some expensive habits, and they experience financial trouble because of an uncontrolled mindset. How can we really end this financial stress?
In this episode of The His & Her Money Show, we have Emily Guy Berkin, the author of Choose Your Retirement and The 5 Years Before You Retire, who shares her insights and wisdom on better ways to manage money and debt and how to eliminate financial stress.
Being debt-free offers a great deal of mental and psychological freedom and avoidance of stress.
According to Emily, it is important to learn different ways of managing money. She has her own interpretation of how money leads to emotional, psychological, and moral weights that end up causing stress. Instead, think about the emotional meaning you give to it rather than what goods and services you can buy.
How you view and handle money has a really big impact on oneself, the family, and the people around you right up to the future generation. Arranging your money and expenses will reduce stress. You may see a family member buying an overload of stuff as part of his/her coping mechanism because of past experiences.
Ultimately, dig down to the kind of emotional needs you’re feeding by doing reckless things with your money and make better, more rational decisions about your money.
What You Will Learn
- What made Emily start her personal finance program.
- How we can determine that our financial situation is causing our stress.
- The biggest factor that allows Emily to become very sound in the financial area.
- Advice for those who are afraid to talk about money.
- The first step to end financial stress now.
- How debt affects financial stress.
- Advice on how to deal with stress for spouses whose partners are not on the same page.
- Ways to alleviate stress from debt.
- Words of encouragement for listeners to end financial stress.
Resources Mentioned
- End Financial Stress Now by Emily Guy Berkin
Thanks For Listening!
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