photo credit: Easa Shamih (eEko) | P.h.o.t.o.g.r.a.p.h.y
You view your money through the lens of your financial experiences. It’s a lens as personal as the color of your hair or the size of your shoes; one which can work for you, but too often works against you because you forget to change it.
Much as the tint of your sunglasses determines how the world looks to you when the sun shines the lens through which you view your money impacts your financial circumstances on a daily basis. Your money lens colors your relationship with your money by presupposing that your current financial situation is permanent, rather than transitory which is never an accurate interpretation, since all financial circumstances require work, attention and nurturing; when these are consistent circumstances improve and when they are not financial circumstances decline.
Which lens best describes how you view your financial life:
Hopeless: Overwhelmed by debt and/or lack of financial and emotional support or resources; feeling vulnerable and unable to change your lens or your financial situation due to the lack of financial knowledge and/or the absence of HOPE.
Pessimistic: Feeling as if you have no reason to believe or to anticipate that given your current job/lack of job, the economy, your credit score, your credit card debt and/or lack of money management skills that your financial circumstances are likely to improve.
Tolerable: Getting by but just barely. Paying current bills and making minimum debt/loan payments but having more month than money, no savings, no assets, no emergency fund, etc.
Optimistic: Current with bills, reducing debt/student loans, using a “Personal Spending and Savings Plan,” building an emergency fund and working to take control of your money.
Stable: Reduced/eliminated debt (student loans), using a “Personal Spending and Savings Plan,” have an emergency fund, savings and building assets, improved/improving credit/FICO score(s), managing your money rather than allowing your money to manage you.
Why did you choose your particular lens? Did it describe you accurately? What additional factors could be added to that lens that would make it even more applicable? Which lens would you like to transition to?
What are two things you need to do to make that move? Don’t wait to get started!
