Are You Angry About Money?

by Ryan Yates on February 8, 2012

This definitely won't ease your financial anger

There’s enough going on around us to disrupt our day and intimidate our mood without the distraction and frustration about our finances.

Sadly, although we have the ability to control our financial situation, we sometimes don’t exercise that ability.

It’s been well documented that a married couple’s number one reason for arguments and bitterness is money. If that’s true, then personal finances has to be the number one frustration with single people as well, they just don’t have anyone to take it out on. The point is, no one is untouchable when it comes to struggles with money.

Do you let those struggles ruin your day? Your week? Your month? What about a whole year?

Release Your Anger

Some professionals might tell you to remove a problem if it causes you anger. Obviously, you can’t remove money from the equation. Instead of ignoring whatever financial problems or frustrations you have, face them head on and tackle them one at a time.

One of the reasons Dave Ramsey’s Debt Snowball system has become such a popular idea is that it takes a giant problem – consumer debt – and breaks it down into smaller, more manageable pieces.

It’s time to take a deep breath, face your financial situation, get out of your emotional rut, and put a plan in place to tackle your problems. The way I see it, you can stay bitter and angry for the rest of your life hoping your bad situation fixes itself (like that ever happens) or you can take the steps to begin fixing it yourself.

Address the Cause of the Problem

Ok, so I’m not a psychologist, but I do know that the best way to fix a problem is to go to the source. So what’s causing all of this anger in your life, financially speaking? Overwhelming debt? Chronic late payments and the fees incurred? No savings for retirement or college? Maybe it’s simply making enough money to pay the bills.

Let’s face it, we’re not all going to be in the position to save for retirement when we’re having trouble keeping the electricity on or the repo man away from our car.

Once you can nail down the source, put a plan in place to begin fixing the problem. If you’re accumulating too much debt, it might be a good idea to start a budget and stop spending so much. Getting control of your spending habits is the first step to reducing your debt. How else can you reduce debt if you keep spending too much?

If you can’t make a payment on time to save your life, you might want to think about automating some or all of your finances and bill payments. If the root problem is no savings to speak of, begin researching retirement strategies and make a decision. If you’re not making enough money to pay the bills, start finding ways to make more money or take a look at your lifestyle and ask yourself if you’re living within your means.

Keep Going Until You Find Success

Whatever solution you find to your financial issues, it won’t solve anything unless you keep at it. Going half way won’t get you to where you want to be.

Do you know what the term ‘persevere’ means? It means that you’ll have to keep going even when things get tough and you want to quit. Don’t quit. Don’t give up on your finances. There are plenty of tools, tips, advice, and assistance out there to help you find success.

You’re just going to have to commit to fixing your situation – it can be done!

Photo By etee

{ 4 comments… read them below or add one }

Carol@inthetrenches February 8, 2012 at 5:53 pm

I think your comment about single people having no one to take it out on is quite funny. I guess that may be true in some respects and find it interesting that single people with money problems at times look for other single people so they can “share” the load. Generous reason to look for a partner isn’t it.

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Ryan Yates February 10, 2012 at 9:57 am

Yea, that sentence hit me in mid post. I was just thinking about all of the money-fight stats about married couples. Then I was like, ‘what about those same people before they were married? It’s not like they just started worrying about money one day.’ I thought it was humorous, lol.

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JMK February 11, 2012 at 6:33 am

The only part of our finances that makes me angry is that we didn’t get serious about living frugally sooner. We never racked up big debts – just our mortgage. We’ve always bought used cars with cash and with very few exceptions have never carried a balance on our credit cards. The problem was we thought we were doing well because we had all the bases covered and were putting away the recommended 10-15% for retirement.
Turns out our real basic necessities only consume 55-60% of our take home pay. So where was all the extra going? Now we’re actively monitoring what we do with the excess, we annually max out our retirement contributions, make a minimum of $1000/mth in extra payments on the mortgage and still manage to take vacations and occasionally indulge in a dinner out.
I’m annoyed we didn’t get smart a lot sooner about how much of that “excess” income we were wasting on stuff that isn’t even important to us.
We’re planning to retire at 57/60 but in hindsight we could have retired nearly 10 yrs sooner if we’d smartened up in our 30s instead of our 40s.
If new cars, dinner out, spa days and the latest electronics are your priorities then by all means include them in your budget and only save 15% for retirement. When we actually sat down and analysed what we reeeeeally wanted, it was early retirement but still the occasional trip in the meantime. With that realization we ruthlessly cut out everything that didn’t get us closer to that goal. You really won’t miss something if it’s not getting you toward your dream.

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Ryan Yates February 13, 2012 at 5:16 pm

I experienced the same anger and frustration after we began making huge dents in our debt. We grow up almost brainwashed about how to spend (or, overspend I should say). And when we finally get our own jobs with our own money, it’s hard for us to make the smartest decisions right out of the gate.

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