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Money has a way of tugging at our emotions…sometimes even breaking us down. Recently, I found myself in tears over an academic setback. I had poured a significant amount of money into my studies, only to face disappointing results at the final dissertation stage. The thought of spending even more to fix the situation felt overwhelming.
Negative emotions tied to money can easily spiral into despair, but managing these feelings is essential. Start by examining the impact of your emotions.
#1: EXAMINE THE IMPACT OF YOUR EMOTIONS
Intense emotions aren’t always bad. My initial reaction to failing or needing to revise my dissertation wasn’t “wrong.” Big emotions often mean we’re deeply invested in our lives. However, letting emotions spiral unchecked can wreak havoc on your personal and professional life. When money-related stress takes over, it can lead to:
Strained relationships
Trouble at work or school
Emotional outbursts
Reliance on unhealthy coping mechanisms
Take a moment to reflect. Are your emotions affecting your daily life? Identifying these triggers helps you turn emotions into tools for growth and motivation instead of barriers.
#2: IDENTIFY SPECIFIC NEGATIVE FEELINGS ABOUT MONEY
Our emotional connections to money often run deep, even if we don’t realize it. Start by journaling about your feelings toward debt, spending, and saving. Ask yourself:
Does your debt make you feel trapped or ashamed?
Do unplanned purchases leave you feeling guilty?
Does budgeting feel suffocating, triggering anxiety or conflict?
Unpacking these emotions can help uncover their root causes. Once you know what’s driving your feelings, you’re better equipped to change them.
#3: PRACTICE EMOTIONAL REGULATION
There’s no switch to turn off negative emotions, but you can learn to regulate them. Bottling up feelings can harm your mental and physical health, causing:
Anxiety or depression
Sleep disturbances
Chronic stress
Muscle tension and pain
Instead, aim for balance. Allow yourself to feel emotions without judgment. Acknowledge them, let them flow, and then refocus. This practice prevents overwhelm without forcing you to suppress how you feel.
#4: REPLACE NEGATIVE THOUGHTS WITH POSITIVE ONES
Once you’ve identified the negative emotions tied to money, work on replacing them with empowering ones. For instance, if debt makes you feel ashamed, strive to feel motivated instead.
Affirmations can help. Start with phrases like:
“I am in control of my finances.”
“I attract opportunities for financial growth.”
It might feel awkward at first, but over time, these affirmations can reshape your mindset and help you feel more confident about money matters.
#5: BUILD RELIABLE FINANCIAL SYSTEMS
Systems can take some of the emotional weight out of managing money. Small steps like setting up autopay for bills, automating savings, or enabling low-balance alerts can make a world of difference.
However, don’t “set and forget” your finances. Schedule a weekly check-in to calmly review your financial situation. This routine helps you stay proactive and prevents money worries from spiraling.
#6: JOIN A FINANCIAL SUPPORT GROUP
Money stress is incredibly common, yet many people avoid seeking help. Luckily, online resources make support more accessible than ever.
Consider exploring:
Financial literacy courses, like those FREE from the Institute for Financial Literacy
Budgeting communities on social media
Credit counseling services, such as CCS.org.sg
Being part of a positive, informed community can help you develop a healthier relationship with money. Remember, you’re not alone—sharing your challenges and successes makes the journey less isolating.
Image Credits: unsplash.com
Dealing with negative emotions about money takes time, self-awareness, and intentional action. By reflecting on your feelings, building solid financial habits, and leaning on support systems, you can turn money from a source of stress into a tool for growth.
