Finances Feeling like a Dumpster Fire?

This year was going to be different. Jane was going to get her finances in order. She made good money, she had a career she loved, she had a few dollars in her savings account. Life was good, she had reached many goals. It was time to do the grown up thing and get started on the budget, how hard could it be?

Finances feeling like a dumpster fire?

The logical part of her brain told her she needed to get the student loans, car note, and credit cards paid off. She also needed to start saving for retirement. And she needed an emergency fund. Adulting sure isn't as fun as she thought it would be.

Month one of the budget came around, Jane was all in, she had every dollar accounted for and it was perfect! She was filling in all the lines and checking all the boxes. She even put her credit cards on ice. She was going to be successful.

Fast forward a couple months, the budget is feeling like a chore, it's feeling very restrictive, she was feeling like a failure. Jane has said no to one too many social events with friends. Friends who had no idea that Jane was working toward financial goals, because she never talked about it. So instead of being supportive, her friends continued to make plans, just as always.

Jane was getting tired of the budget. It was fine for a while, but she had make no noticeable progress, so she joined her friends for a fun evening of dinner and dancing. The guilt and anxiety associated with trying to fit it into her budget after the fact was too much. Feeling overwhelmed, Jane abandoned her budget and quickly reverted back to her old ways.

A budget that is too restrictive or too unrealistic is doomed to fail. Setting expectations too high without having a clear vision and plan in place is counterproductive. Maybe next year. And next year never comes.

If you have ever felt like Jane, you are not alone. If managing money was easy, the world would look very different. The good news is that your world can look different, you just need someone to guide you on your journey. Financial Coaching might be a good fit for you. Book a complementary session with me at www.smithfinancialcoaching.com to learn more.