A Money Coach in Canada

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GAH!

See this unsightly, unseemly pile? This pile, friends, this pile has been with me since I moved up here from Vancouver 2 years ago. I kept it out of sight / out of mind in the back of some shelving which worked until The Renovations (more another time on that) started this week. Nobody tells you to Beware the Resurfacing Piles when renovating, do they.

It’s time for me to deal with it, and deal with it I shall. There’s nothing crucial or time sensitive (or if there is, I’d better hang up my hat) but it’s a bunch of money-related its and bits I need to toss or sort and file. I reckon it will take 90 minutes. So, every day when I return from work, it’s straight to this pile for 15 minutes until it is all properly sorted.

Now don’t go all harshing on me for this epic failure. I bet several of YOU have a pile somewhere of financial papers that are in a similar state of disarray. Care to join me in ‘fessing up and dealing with it? And we can lift a glass to one another next weekend when we’re done?

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

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