by Yusra » 12 Jun 2024, 08:46
Money is an integral part of our lives, yet it's also a topic that can bring up a lot of emotional baggage and denial. Many of us tell little white lies to ourselves about our financial habits and situations, whether consciously or unconsciously. However, being dishonest with yourself about money can lead to bigger problems down the road. Here are six potential signs that you might be lying to yourself when it comes to your finances.
1. You justify frivolous purchases as "treating yourself"
Everybody deserves a splurge once in a while, but if you're constantly buying things you can't really afford by saying you're just "treating yourself," that's a lie. Treats should be affordable indulgences, not funds that should be going toward essentials or savings goals.
2. You avoid looking at bank statements and bills
Ignoring money issues by burying your head in the sand is a clear act of self-deception. Reviewing purchases, paying bills on time, and knowing what's coming and going is crucial for financial wellness.
3. You rationalize debt as "necessary" or "temporary"
Carrying debt and convincing yourself it's unavoidable or will just go away eventually is lying to yourself. Apart from something like a mortgage, no debt should be considered totally necessary or permanent. Have a plan for paying it off.
4. You think you'll just "make more money" to improve your situation
Simply hoping for a higher income to dig yourself out of a financial hole is wishful thinking, not reality. You have to change habits and make smart money moves in addition to earning more.
5. You claim to be "bad with money" as an excuse
Being "bad with money" due to lack of knowledge or interest is a cop-out lie. Money management is a skill that can be learned through education and practice.
6. You're always "starting over" with budgets and finance tracking
If you find yourself recycling the line of "I'll start budgeting and tracking my money again on Monday/next month/next year," chances are you're stuck in a perpetual cycle of restarting rather than following through and being honest with your spending.
The lies we tell ourselves about finances, whether big or small, prevent us from improving our money situations and reaching our goals. The first step is admitting when you're in denial so you can break unhealthy patterns and make positive changes. Getting brutally honest with your finances and habits is the path toward gaining control.
Money is an integral part of our lives, yet it's also a topic that can bring up a lot of emotional baggage and denial. Many of us tell little white lies to ourselves about our financial habits and situations, whether consciously or unconsciously. However, being dishonest with yourself about money can lead to bigger problems down the road. Here are six potential signs that you might be lying to yourself when it comes to your finances.
[b][size=150]1. You justify frivolous purchases as "treating yourself"[/size][/b]
Everybody deserves a splurge once in a while, but if you're constantly buying things you can't really afford by saying you're just "treating yourself," that's a lie. Treats should be affordable indulgences, not funds that should be going toward essentials or savings goals.
[b][size=150]2. You avoid looking at bank statements and bills[/size][/b]
Ignoring money issues by burying your head in the sand is a clear act of self-deception. Reviewing purchases, paying bills on time, and knowing what's coming and going is crucial for financial wellness.
[b][size=150]3. You rationalize debt as "necessary" or "temporary"[/size][/b]
Carrying debt and convincing yourself it's unavoidable or will just go away eventually is lying to yourself. Apart from something like a mortgage, no debt should be considered totally necessary or permanent. Have a plan for paying it off.
[b][size=150]4. You think you'll just "make more money" to improve your situation[/size][/b]
Simply hoping for a higher income to dig yourself out of a financial hole is wishful thinking, not reality. You have to change habits and make smart money moves in addition to earning more.
[b][size=150]5. You claim to be "bad with money" as an excuse[/size][/b]
Being "bad with money" due to lack of knowledge or interest is a cop-out lie. Money management is a skill that can be learned through education and practice.
[b][size=150]6. You're always "starting over" with budgets and finance tracking[/size][/b]
If you find yourself recycling the line of "I'll start budgeting and tracking my money again on Monday/next month/next year," chances are you're stuck in a perpetual cycle of restarting rather than following through and being honest with your spending.
The lies we tell ourselves about finances, whether big or small, prevent us from improving our money situations and reaching our goals. The first step is admitting when you're in denial so you can break unhealthy patterns and make positive changes. Getting brutally honest with your finances and habits is the path toward gaining control.
