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April 14, 2021

Are you in denial when it comes to your relationship with money?

Money. People perceive, value and treat it differently.

Money But regardless of how you interact with it, money plays a major role in your life – in some cases, providing security, freedom and power and in others leaving you feeling inadequate and trapped.

It’s a question of training. Perhaps money was always taboo in your home. Or you received conflicting messages that you should feel guilty about money (“only the poor go to heaven”) and that money was unstable and scary (“you could wake up poor in the morning”).

Either way, it’s now all about denial, according to Maureen Campaiola, CMBC Money Breakthrough Coach. For example, when the bank statement comes in, instead of opening it do you throw it in a pile where you’ll look at it later?  Do you often get overdraft notices because you don’t know how much money you have in your account? Forget to see that refunds actually land in your account?

If so, your denying habits are going to get you in more trouble, she predicts.

Money coach Kathy Caprino agrees. You’re just working hard to ignore the obvious - the inevitable misery that will come unless you change direction, and fast, she says .

Looking to turn things around? Some of the vital steps to recovery are as follows:

1. Wake up from your coma – be aware of the key areas in your life that need attention today.

2. Make the choice to change your life.

3. Do the things that bring you power.

4. Engage in visualizing the steps necessary to bring you to your goals, and see yourself already in possession of what you want.

5. Create structure and accountability by telling others around you about your plans and goals, and get the outside help you need.

Do your emotions impact your money decisions? What helps you overcome these feelings? How have you learned to make good financial decisions?

By Gordon Powers, MSN Money

* Follow Gordon on Twitter here.




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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...