We all know someone who is money blind. It’s that head in the sand, don’t look, can’t face the finances tendency that many of us have experienced – a partner, a parent or ourselves. Its driven by an unconscious anxiety associated with money that leads us not to look, to being Money Blind.
So lets take a look at what is Money Blindness, how does it get in your way and what can you do about it
What is Money Blindness?
- It’s a habit of not facing or engaging with finances so they drive you rather than you influencing them
- It’s rooted in FEAR and often overlaid with shame or guilt and feeling out of control
- It may stem from a past of scarcity or not having enough or a sense of not being good enough
- You may have a belief that you aren’t good with money, can’t be trusted or don’t understand it
- You avoid finances & don’t feel comfortable thinking, talking about or facing your money
How does being Money Blind get in your way?
- Increases anxiety and stress & affects financial and mental well-being
- May miss payments, letters, bills or run up debts adding to financial anxiety
- Hard to save and invest so harder to break the payday to payday pattern
- May miss new opportunities to make, create or earn more money
- May overspend as not looking so money runs away followed by guilt and anxiety
What can you do about Money Blindness?
- Decide to face it.
The first time is the hardest so find support or create a safe space to do it. Every step afterwards becomes easier. Celebrate your courage.
- Acknowledge the benefits of Money Blindness.
Yes there are downsides but you’ve been getting something positive out of it too and these habits quietly make you feel safe. Becoming aware of the benefits helps you recognise what’s driving it.
- Spend some time reflecting on your tendency.
What drives it, what’s your trigger, what memories or beliefs are you holding that help create and re-create this habit?
- Write down all the benefits of facing your fear and influencing your money positively.
What will you gain by letting this habit go? What could you achieve? What would life look and feel like if you confidently faced your money.
- Talk about money.
Find someone you trust and normalise talking about money, pay rises, savings, investing, debt. Saying it out loud takes away its quiet shame, guilt and puts you back in control.
- Regularly check in on your finances and keep looking for opportunities to make, save, grow and spend well and find someone to talk money with
Little by little the fear fades and you start to see the rewards of facing finance.
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I’d love to help you create the sustainable financial future you want for you & your family.