How Managing Our Emotions Can Help Us Manage Our Money
Around two months ago, I signed up to be part of a fitness coaching program to lose some weight. This coaching program is not like the usual trainer-trainee relationship. It gets more personal, and the practices may not follow the traditional approach to coaching. For example, something my coach has me do is journal twice a week. There are no specific prompts or instructions; he just told me to essentially do what feels natural. So, I began dumping all my thoughts on paper—literally writing down anything that came to mind. I believe the reason my coach had me do this practice is that the journey of weight loss involves a lot of internal work, such as changing your relationship with exercise and food. It’s not simply about eating less and working out more. There are psychological reasons I put on the weight in the first place that need to be dealt with. The goal of journaling is to get to the deeper issues.
Lately, I have come to the realization that I am a person who is quite emotional. I am reactive to things in my environment and to new information. In the past, during high emotional moments, I’ve made decisions that I regret. My emotional state often led me to make impulsive decisions with lasting effects. For example, two years ago, I was feeling insecure about my ability to protect myself in a combative situation, so I signed up for Jiu-Jitsu lessons for $200 a month. Or last year, on a random day, I was feeling particularly inspired to take my career to the next level, and I signed up for a $2,700 certification. My emotional states have led me to make rash decisions.
As I began journaling recently, I noticed myself making fewer impulsive choices. As I talked through the emotions I was feeling on paper, my mind became clearer. My coach says that when you journal, you get rid of all the junk in your head because there’s a lot of it up there. The clearer my mind is, the more focused I can be on my goals, and the better my overall quality of life becomes. I am a better person when I journal.
I believe that journaling is a powerful tool for anyone who struggles with managing their money as well. I know all too well how an impulsive purchase can stem from an emotional moment.
For some people, it may look like:
Emotion: Stressed
Action: Buy some clothes—there is literally something called retail therapy…
Emotion: Insecure
Action: Buy a BMW on an 8-year note
Journaling can help us slow things down. It can help us get to the root cause of the emotion, rather than trying to put a band-aid on it through poor money management. Retail therapy may help you feel better for a moment, but it won’t last. For me, journaling has been free therapy. So, if you are someone who struggles with managing your emotions, and as a result, struggles with managing your money, it may be worth giving journaling a shot. Don’t over think it, just start writing.
