People commonly claim that they find it easier to lose money than it is for them to lose excess fat. However, many people will also report that it is very common to hear about various diets targeting weight loss but it’s not as common to hear about financial diets. Yet one of the most concerning topics for many individuals is the topic of money. People are either stressed about making more money or about saving enough money. This financial stress and its implications on people has been hugely publicized and discussed at length. However, how to manage this financial stress has not.
One way to manage financial stress is through establishing or implementing a financial diet. A financial diet will help individuals assume responsibility of their own financial affairs. It will allow people to lose money more efficiently.
Losing money is not a bad thing. Money was created so that it can be spent. However, since spending money corresponds with higher stress levels for some people, I believe that a proper financial plan can help those people measure how much is being spent versus how much should have been spent. By knowing where money is being disbursed and for what purpose, people can reduce the fear that money will run out. This in turn will reduce financial stress.
If each individual implemented a financial diet or plan for themselves then we will end up with a more financially responsible society and a less stressed one for that matter. In my next post I will discuss the first step necessary for starting a financial diet.
For now… I would like to obtain your thoughts about how you view money?