Anxious About MoneySýnishorn

Identifying the Source of Our Financial Anxiety 

Having anxiety due to financial struggles can be paralyzing. We want to make strides to get ahead but sometimes, we get right back into the situation we’ve been in before: we earn, we pay bills, something unexpected comes up, we panic. And we repeat this cycle.

When we go to God with our concerns, fears, and worries, He provides unexplainable peace that settles us in the midst of our financial storms. But we have a part to play. We must figure out what we’re doing financially that leads us to the same place. 

Some questions that we can ask ourselves to help us figure out the source of our financial anxiety are:

Did some event occur unexpectedly?
Are my spending habits out of control?
Am I not earning enough to provide?
Have I confused my needs and wants?

Let’s break down these questions more so that there’s clarity about our financial anxiety.

Unexpected Events
Sometimes in life we’re hit by events that come from out of nowhere. A car repair, a medical procedure, a lost income. We can’t stop these events from happening, but we can be prepared for the unexpected. It’s not our fault when these happen. If you’re lacking an emergency fund, begin building one for the future. 

Spending Habits
For the most part, the way we spend our money is something we have control over. We decide what to buy, when to buy it, and where to buy it. This is hard because often we struggle with self-control, which leads us to make poor spending choices. If you’re overspending, consider cutting things out.

Underearning
Most of the time our financial struggles are due to our spending habits, but occasionally, it can be due to a lack of funds. We have a job, we’re working hard, we don’t spend unnecessarily, but still have financial stress. If you need to earn more, evaluate your work situation to see if there’s a better option.

Wants/Needs
This is often the part that gets people into financial stress—confusing our needs and wants. We need food, clothing, shelter, and some other basic needs. We want fancy clothing, expensive vacations, and coffee from a barista. If you’ve confused your wants and needs, it's time to recategorize them. 

We build up treasure on earth by spending unnecessarily, and that causes strain on our relationship with God. He should be first in our lives, not money or possessions. Once you have identified the source of what’s causing your financial anxiety, begin the process of changing your situation. And understand that it will take time and not occur immediately. 

It won’t take long to get back on track by beginning this process of identifying what’s caused the financial strain in your life. As we go into day 3 and 4 of this Plan, we’ll begin diving into how to make a plan and execute it so that we’re financially healthy.