When Amanda Clayman was in New York, she was stuck in a credit card loan in such a way that she could not understand anything.
“That condition embarrassed me so much that I felt that my professional and personal accomplishments were all a lie,” Amanda, a financial therapist in the US.
One day Amanda asks her mother to cut her hair. But, the way the mother cut her hair looked very bad. Then the mother said that to get it fixed, immediately go to your hairdresser.
But, Amanda said, “I can’t go. I can’t go back there because I’ve given him a bounce check.”
Then Amanda had to tell her mother the whole truth. Amanda said that she owes 19 thousand dollars (about 14 lakh rupees).
The worst thing was that Amanda did not know how she would be able to get out of such a big loan.
However, with the help of her mother, Amanda paid her bills. After this, She made a budget and financial plan of the month. Amanda had never done this before.
“I always avoided making a budget because I thought it would take away my freedom,” says Amanda Kleiman.
But, by making the budget, She came to know that this has increased her freedom and gradually the expenses have also come down. She is saving, due to which She has repaid her debts.
Amanda says that due to the loan of that haircut, I found my right path where I became more intelligent, empowered with money and I got passion of my life.
Amanda Clayman became a financial therapist due to her passion after working in social work for many years.
What is financial anxiety
Now Kleiman helps people who have financial stress. She is associated with companies, conducts courses and writes on these subjects.
Amanda says that panic occurs when our body and mind give us a signal that there is something that is not right, pay attention to it.
This is a sign of danger for us that now is the time to deal with that difficult situation. However, it often happens that when people feel nervous, they stop paying attention to the difficulties.
Amanda says that is why we feel nervous about money. We usually do not think about this and the condition gets so bad that we make decisions in a huff.
She says that the situation gets worse due to these decisions, which increases the nervousness. In this way we get caught in a vicious cycle. So first of all pay attention to your nervousness and think deeply about what is happening to you.
Here are five ways to get out of Amanda Financial Engagement:
- Increase your curiosity
The first step is to learn to be curious about your money. It is like taking a real interest in what is happening in your financial life, rather than just thinking about paying the current loan. For that, the right way is to ask ourselves what our money tells us about how we use our time and what things are really important to us.
- Pay constant attention to your money
Do these three things at least once a month:
- See how much money comes in your bank account and how much is left.
- Consider what the financial situation is going to be in the future.
- Make a plan.
For example, if your rent is increasing, then you have to change some things in your budget so that you can make some arrangements before the time of paying rent.
This is to be prepared before time, not to wait for the time to come.
- Recognize your strengths for what you have achieved
It is important that you recognize how much progress you have made towards your goal.
Do not worry about why you did not reach the goal.
Even if you are taking small steps, but this is also an important change which shows that you have the potential.
Ending financial anxiety is a process that cannot be completed overnight.
- Chance to experiment
We often want to do things in their ‘right way’ because we fear to fail if we do something different.
But, there is not always one right way to do something.
If we think a little more, many more routes may be open.
We should give ourselves a chance to be more creative.
- Not having money is ‘good news’
Even if it seems strange that not having money is ‘good news’, but it is like changing the way of thinking to deal with situations.
This step shows the importance of changing our perspective on how we respond to the challenges in our lives and adopt flexibility to deal with them.
Instead of thinking “we can’t deal with financial problems”, think about “how to get out of these problems.”
In this process we will come to know many interesting things about ourselves and we will know how personal matters affect our way of handling money.
It’s no magic
“The behavior we want to develop with regard to financial therapy and money is not like a magic wand,” says Amanda.
This is a process that begins by accepting that we have a challenge. This journey of getting to know ourselves goes on so that it can be known what those signals want to tell us and we can plan for changes in some habits.
In this process, it is beneficial to ask yourself many questions. Such as what your work means, what your priorities are, what affects your goals, what relationships affect your financial health, what you can change and whatnot.
If you leave your job
In this situation, financial therapists advise that you should first sit calmly and analyze the current situation,
A good way is to talk with people with whom you have financial commitments, such as talk to the landlord and ask him to give you some time for the rent.
If you have some savings before leaving the job, then plan how many days you can spend your expenses.
It also helps to think about how you can get money through alternative methods.
Even if all your expenses are not met by those money, this method can help you to a great extent to avoid debt and its interest. Also be sure to reduce your expenses
Through all this, it is an attempt to know which things you have control over and which things are beyond your control. This helps us move towards our goals.