Tackling Your Money Demons

[jeffrey]

...Here are some classic demons the group uncovered in a week of weeping and self-disclosure. They're sneaky, they're surprising.

Fear & Avoidance: I'm too terrified to talk to my husband about how much debt we really have. We're shared our pay-down strategies but no real numbers. Is it any wonder our debt-reduction plan hasn't been working as well as it could?.

Financial Fatigue: Yalitza says that after years of ignoring the issue of money, now she's playing financial catch-up and often feels overwhelmed by the task of paying back her debt, planning her future, etc. "Managing your money is like having another part-time job. No wonder there are so many stressed-out people in the world."

Confusion: Anna jokingly nicknamed herself the Frugal Fannie of our group, but admits, "I'm frugal, but I don't manage my money wisely." She hates all the paperwork associated with money and often wishes she had mastered a money management system. "Nobody ever taught me how to do this."

Bad Habits: Carole is the only six-figure salary in the group, and yet she confesses that her worst fear is ending up in poverty. She knows she could be saving more, but finds herself treating friends to dinner and using the ATM as if it were "a spigot."

Anger & Resentment: Beth is preoccupied with her parents' money mistakes. "I've been worried about my parent's finances (particularly my Mom's) since I can remember." This prevents her from devoting her full energy to the life planning that's a priority now that she and her husband have a baby daughter.

You may contend with other demons: guilt, denial, co-dependence, depression. But in order to banish the nasty pattern that's your nemesis, you need to do three things... [read more at msn.com]