Financial Peace Planner Accountability Check In #2 - Reframing my money fears

I struggled a lot this past week. It was highly emotional with some personal drama, work drama, and just things not going according to plan (what's that saying about life happening when you are busy making other plans?).

As a result, I had a really tough time sticking to my no spending, no soda goals. I also had a difficult time with the goals I set previously for the week according to the principles laid out in Chapter 1 of Dave Ramsey's Financial Peace Planner.

As of January 11th, I've gone only 6 days without soda and 7 days without unplanned spending. Granted, most of the unplanned spending was much LESS than it would have been had I not recommitted to my financial goals when I started this blog. Instead of just saying, "Screw it!" and going overboard at the grocery store, the cafeteria at work, or buying take away coffee, I really limited the coffees, made smarter choices at the grocery store, and only used the cafeteria at work on one day when I overslept and didn't have the time to make a lunch for work.

Over the last few days though, I've been making my lunches the night before when I have to work, setting up my coffee making station the night before, and setting out breakfast items the night before.

I wasn't able to save any money or pay off any debt in the first 11 days of January, but my earnings so far this month are a bit ahead of usual (which is a VERY GOOD THING!). I hope that will continue for the remainder of the month. I have been working hard on my Etsy shop and sold more coloring pages so far this month than I had at the same time last month also (check it out HERE).

Today, however, I will be putting another $50 towards my debt which will leave me with a mere $15 left to pay off a traffic ticket to the city! I cannot wait for that debt to be GONE!

This past week, I did join a couple of "kickstart" type of challenges for the new year that I hope will make a difference in my income and thus my ability to pay off debt and build savings. The challenge I am most excited about is Gina Horkey's "Kickstart Your Writing Biz" -- Gina is a freelance writer who teaches others to build freelance writing careers and thus financial freedom. I've worked through the first two exercises and am working on the third. Gina also teaches people how to build VA (virtual assistant) careers. Both freelance writing and being a VA can bring in supplemental income for anyone working to pay off debt or increase savings (or both). (check out Gina's site HERE)

As a reminder, here are Dave Ramsey's Seven Financial Baby Steps -- I am working on #1 and #2 now:

Dave Ramsey's Seven Financial Baby Steps:

1. Save $1,000 in an emergency fund. 
2. Pay off all of your debt except for a mortgage by using the debt snowball.
3. Complete your emergency fun by saving three to six months of expenses.
4. Fully fund your pre-tax retirements savings.
5. Save for your kids' college.
6. Pay off your home early.
7. Build wealth and give like crazy.

Chapter One of the Financial Peace Planner ends with two tasks, one of which is taking stock of your money fears. My top five money fears are (you can also read them in THIS post):

My top five money fears: 
ONE: I won't be able to fix my financial situation. 
TWO: There will never be enough money. 
THREE: My son will be stuck taking care of my financial needs later in life. 
FOUR: I'll lose my home due to lack of money to pay the rent. 
FIVE: My debt will grow instead of shrink.

In an effort to reframe my mindset and set myself up for success, here is how I have been thinking about these fears:
ONE: I won't be able to fix my financial situation. 

• REFRAMED: I AM actively taking steps to fix my financial situation. I WILL succeed.

TWO: There will never be enough money.

• REFRAMED: I AM actively building a financial foundation so that I will ALWAYS have enough money.

THREE: My son will be stuck taking care of my financial needs later in life.

• REFRAMED: I am teaching my son through my example and through being open with this process so that we both can build strong financial futures. Neither of us will need to be depending on others (including each other).

FOUR: I'll lose my home due to lack of money to pay the rent

• REFRAMED: At the moment, money is tight. However, I will NOT lose my home. Immediately, I can adjust my budget, sell things I don't need, provide services others will pay for, or if I am really stuck, I can seek community assistance. I have plenty of options. My home is safe. 

FIVE: My debt will grow instead of shrink.

• REFRAMED: My debt WILL shrink because I am taking active steps to get it under control and pay it down. I WILL have a ZERO debt balance.

I can't say that this is an easy process -- many things that are worth doing are not easy. I believe this is one of those things where my success will be directly related to the effort I put in.

How about you? What are your money fears and how are you reframing them to set yourself up for success?

Interested in following Dave Ramsey's plan? 

You can buy your own copy of The Financial Peace Planner HERE.

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