3 Tasks to do right now to stop money fear and budget while still enjoying life
Three things you can do now to stop having money anxiety and save responsibly while still living a happy life.
As millennials, our intuition told us that we did not have to slave away for money and happiness.
Our parents laughed at us and tried to make us fit in a box of safety and restriction. Some of us in our adult lives still are living in this paradigm. They taught you to save money, but avoid getting too involved with it. The only real fun you should save for is a once-a-year vacation and eating out.
These ideas around money are probably why you have so much anxiety around it.
Stop keeping yourself in a box that wasn’t yours. If your intuition says you can save money, generate it, and still enjoy life…. It’s probably right.
In this post, we will go over three things you need to do now: save realistically, enjoy your life, and grow it on autopilot.
1) Block out your money
You want to live and be free, but you feel every dollar you spend is a crime. It causes you huge amounts of anxiety and mental breakdown constantly and you don’t know where to turn. It was just a little hiccup, but it’s turned into a huge elephant in the room you’re scared to look at. I know how you feel. But….
You cannot live in fear. In this case, it means you cannot live your life tip-toeing around things hoping they’ll go away. You need to confront the money problem to fix it. Once you take time to dissect your bills each month, block off that amount, and then decide how much money per paycheck you need to make the necessary amount. That amount is no longer “yours.” That money never leaves the billing account. The rest of the money you have leftover per paycheck is your money for fun.
You won’t have to be scared about your fun money since you know the bills were taken out at the beginning.
Even if that is a really small amount of money that is still progress. By taking the time to make sure your finances are consistent, you are becoming dependable and reliable for yourself. Holding yourself accountable will give you the confidence to leap forward and do better in all areas of life.
Also if you take up a side hustle to have more fun money, you will always be consistent and motivated. After all, the money will be just for you. :-)
2) Create a timeline for certain money goals
No one wants to live to pay bills, work, and die. Although experiences are priceless, in most cases you need some type of money to make it happen. By creating a timeline for your money goals, you will be more motivated to save, stick to your budget, and practice discretion. In addition to that, you will also be excited about achieving the real goals in your life beyond now. Ensuring your future joy and fulfillment.
Your timeline can be at whatever scale works best for where you are now, and where you will be. This can be a business account where you put in 50.00 a month. After 4 months, you would spend that $200.00 on a course preparing you to start your business. Or it could be a travel fund where you put in $75 a month to fund your tickets and hotels as you pursue your dream as a travel blogger.
By knowing that you are investing in the next chapter in your life, you will be much more fulfilled in daily life, even if you aren’t where you want to be yet. As stated above, planning is the key to taking the anxiety out of money. You do not have to wonder where the money will come from for your dreams if you’ve been saving it all along. You’ll finally have an investment in yourself to enjoy your passion with the financial backing you deserve.
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3) Financial knowledge
In addition to stability and planning for your present, you have to know about the possibilities also. Learning about money is the next step to turning your fear into empowerment. This empowerment will allow you to make good long-term and short-term decisions to grow your money without much effort. By growing money without effort, you will have more of it to enjoy consistently.
In addition to more money growth, you will also be able to stop worrying about the future. As a millennial, so much of your time is spent worrying about long-term wealth. It is hard to find bulletproof money methods unless your search for them. Through getting financial knowledge, you can find these methods and begin taking action. With just a few bits of research a day, you can ensure over time you never have to worry about money again.
The best thing about this information is that most of it is free on the internet. :-)
Conclusion
When I was going to college, I was paying my own way for everything with a part-time job and my own business. Neither was making much money and I was struggling with what I had.
Even when I did do extra work, it only magnified the anxiety and school stress I was already dealing with. I was having mental breakdowns almost every night. It was so bad that I could only afford to spend $13.00 a week on groceries.
The tasks I gave you in this post are the ones that personally used to pull me out of the dumps and get me on the right track with money. This is something very near to my heart because we deserve better than to worry about how we will survive.
From doing these tasks I:
Eliminated anxiety about money
Invest in me and dreams regularly
Take action for long term wealth growth
Have fun money for eating out and museums
I hope these help you the way they continuously help me.
Training, Summits, Cheat Codes, and kind words to cut through outdated BS.
Flourish as the millennial you are here.
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