Stop Money Worries using Logic (CBT Tips)
“I'll never have enough money."
"I'm too stupid to understand how to manage my money."
"What if I make a financial mistake that I can't undo?"
Sound familiar? These are financially anxious thoughts, and these types of thoughts are what is cluttering up your mind and getting in the way of you having an amazing and empowered relationship with money.
In this post and above video, I'm going to help you stop those anxious money thoughts. First of all, anxious thoughts are normal. The problem with these types of thoughts is they are usually attached to some sort of action or some sort of inaction. If you think, "I'll never be able to save money," you are probably acting in a way that aligns with that thought. When you get paid, because you have this thought that you can't save money, you go spend your paycheck because you've already decided you don't know how to save money. Then, because you've spent your paycheck, you've created a self-fulfilling prophecy.
So, what should you do about this?
I'm going to give you logical steps to challenge these negative, anxious, and false thoughts about money. Let's take a new example.
Let's say you have the anxious thoughts of "I'm too stupid to understand how a ROTH IRA works." Now, let's apply some logical questions to that thought to get an idea of what truth, if any, lies in that anxious thought.
What proof is in the statement, "I'm too stupid to understand how a ROTH IRA works?" "I made a mistake with a credit card, so I have proof I'm not that good with money." "I didn't understand how bonuses worked at my company, which also proves I'm pretty stupid when it comes to money."
What proof do you have against the statement, "I'm too stupid to understand how a ROTH IRA works?" "I finished college on-time, including math and finance courses; I can understand some tenants of money." "I've been promoted three times in the last three years at work; my boss must see the value I bring, which proves I'm not that stupid." "I met with the HR rep who walked me through a different retirement account, and was able to catch on pretty quickly."
Now that we have some evidence that proves you are "stupid," we also have mounting logic that proves you aren't that stupid. A logic-based reframe of the original anxious worry now becomes, "I know I am smart enough to learn what a ROTH IRA is. I know how to ask for help or resources if I feel overwhelmed learning about it."
Once you learn how to sort out logic and facts from false, anxious beliefs, you are in a much better position to tackle other financially anxious thoughts.
If you liked this exercise about how to stop financially anxious thoughts, you're going to want to grab a copy of my book "The Financial Anxiety Solution." In my book, I go through nine chapters all about how to quiet financial anxiety, and the tenth chapter is about the bookkeeping side of money.
I'm curious, how will you use this exercise to help with your financial anxiety?