A Money Coach in Canada

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Do you typically think the worst about your financial situation?

If so, that’s a common psychological phenomenon. It’s known as filtering.
Filtering means you take the negative or upsetting details and focus on them, while filtering out the positive aspects.

For example, clients of mine often focus excessively on their debt compared to their assets. While debt is worthy of attention and counter-strategies, it should be put in appropriate perspective as a part of overall net worth. Otherwise, debt can assume the drivers seat in financial decision making. This is usually counter-productive.

So here’s a financial decluttering task should you choose to accept the mission.
Identify an aspect of your financial life that may be upsetting you out of proportion. Do some “talk back” by articulating a corresponding positive aspect.

Examples:

  • “I have $25,000 of debt AND I HAVE $80,000 EQUITY IN MY HOME”
  • “I chronically overspend AND I AM FULLY CAPABLE OF ADJUSTING THAT WITH TIME AND PRACTICE IF I DECIDE I REALLY WANT TO”
  • “I am underemployed right now AND I HAVE GOOD SKILLS THAT I WILL PUT TO BETTER USE WITHIN THE NEXT YEAR”

Photo Credit: SparkleIce

Do you ever get irritated by the relentless Gotta Get The Latest Bright Shiny Object?

I’m an apple fangirl – and a stockholder – so I’m a bit ambivalent about the release of the iPad 2. Yay for improvements and yay for continued growth of a mighty fine company in which I hold shares.

But … I shelled out nearly $700 just less than a year ago for my iPad v.1 and you know what? It’s still awesome! No camera, no facetime, a wee bit thicker and heavier than the new one but… it’s still in perfect condition and I still absolutely love it.

So this woman won’t be rushing for the iPad 2. In fact, I think I’ll be content with my current iPad for a few years to come.

ps – thanks again for nabbing me my iPad, Kyle!

Photo Credit: Jared Earle

photo credit: Hafids

Saturday posts during March focus on decluttering your finances.

Here’s a biggie.

Have you borrowed money from a friend or family?
Do you have an articulated plan to repay them, and are you sticking to that plan?

If you’ve borrowed and don’t have a plan, or have one but don’t stick to it, it is costing you.

It is costing you the value of your word. This means that whenever you say anything, you will not be taken as seriously anymore by those who know you have not kept your word about the loan.

It is costing you your relationship. The other person may be gracious or not making a big deal about it, but you can bet that inside, some amount of damage has been done. Check the comments on a previous post of mine.

It is costing you your self-respect. There is no way that you can borrow money from a friend or family member and not repay it without that fact taking a toll on your self-esteem. Not having and keeping a plan to repay it is immature and even cowardly.

Here’s your challenge. Do a mental scan of the past several years. Do you owe a friend or family member? Don’t be “that guy”. Own the situation. Make the call. Send the e-mail. Do it now.

Photo Credit: Roel1943

Hi there! Thanks for popping by – As you see, we’re making some changes to the site right now. Please feel free to drop by this weekend (Mar. 5th) to see the results!

Cheers,
Nancy and Tanya