Here's Why It Always Feels Like You're Starting Over With Your Money, According to a Ramsey Money Expert
Many people feel like they’re constantly starting over with their money, no matter how hard they try to get ahead. Jade Warshaw, a Ramsey expert, explained in a TikTok video that when someone becomes emotionally overwhelmed about managing their finances, frustration — and even fear — can set in, triggering an emotional survival mode.
She added that while a person may think they can just start over next month with a clean slate, they’re trying to logically fix a problem ruled by emotion — and ignoring the real issue: their own feelings.
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According to the TIAA Institute, large amounts of debt are frequently associated with anxiety, depression and anger. When financial problems persist, they can cause feelings of despair and hopelessness, resulting in depression.
Financial stress often comes from focusing on things you can’t control, and it can make it difficult to concentrate on making good decisions about money. No one gets every financial decision right — if a misstep happens, accept it and create a plan to avoid repeating it.
Here are some steps, according to Ellevest, a wealth management company, that can build your confidence and help you feel more in control of your money:
Make a list of where your money is being spent — and where it’s not.
Write down your most overwhelming money goal and review the progress you’ve made. Any progress counts.
Break that goal into small, achievable steps.
Set a realistic timeline for each step.
Set up automatic deposits.
Categorize each transaction from your bank and credit card statements as future, needs or fun, then review how much you’re spending in each category. If needed, create a budget to keep spending on track.
Determine whether you need a financial planner.
Carrying money worries can drain your emotional and financial well-being, but even small steps toward gaining control can help build confidence — in your finances and beyond.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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