How Much Your Insecurity Actually Costs You | The Financial Diet

Today Chelsea talks about the costs of being insecure. Want to be more confident? Check out this video:

Hey guys it’s chelsea from the financial diet on this incredibly gloomy and rainy day and actually fun fact it’s the middle of the afternoon right now but it looks like midnight because it’s like the scenes in harry potter right before the dementors com1 everything goes dark and there’s nothing good in the world but in keeping with this theme of doom and gloom

We’re going to talk today about the money that you spend every day on insecurity no no that’s how it we sounds odd because obviously there’s no like insecurity store where you go with like a groupon and get you know a box of insecurity to take home but it’s definitely something that shows up in your monthly budget and it’s not just insecurity it’s also anxiety it’s

Stress it’s tension it’s basically any emotion that leaves you to spend because you either want to feel like a better person or you want to feel more in control everyone has their triggers and maybe for you it’s something like i feel like a loser in this outfit so i’m going to duck into a fast-fashion store and get a new top before i go do something or maybe it’s

Like i got bad news that works so i’m going to just duck into this bar and spend all this money on fried food and sugary drinks that i don’t need whatever it is the point is that you are spending money that you definitely wouldn’t otherwise be spending and i’ve spoken a lot on the channel about how anxiety and insecurity drove me to put myself in debt and ruin my

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Credit and really jeopardize my financial future but you don’t have to be a total financial hot mess in order to address your insecurities spending as i mentioned in a recent video our managing editor holly has a strategy that she uses to track what purchases are really valuable to her in her case she just writes down everyday the thing that made her happiest and

How much it cost and then after a while she goes back and looks at her purchases to really see what made the difference and to also identify the things that she was frequently spending money on yet never seeing in her happiness journal and when i heard that i thought i could use something similar but sort of in the opposite sense essentially i started writing down

Every time i spend money on insecurity or anxiety or essentially any negative emotion that’s getting the better of me it’s just a little moleskin journal where i have the purchase the amount and what i was feeling at the end of every week i can go back and look at the money that my emotions drove me to spend but i would not have been comfortable spending otherwise

There’s something really jarring about seeing those purchases actually written out along with the description of why you made them we have a tendency to immediately forget and push out of our mind the negative episodes we experience but writing them down writing down those emotions really allows you to confront them for example just over a week ago i had gone on

A bit of a spiral on a bloggers instagram for whom i have an enormous amount of style envy and i went out while i was already doing some errands and picked up a little home decor item that i don’t even really like that much writing all of these purchases down and telling them up at the end of the month really allows you to also see what else you could have been


Doing with that money quite frankly seeing that number all tallied up and realizing just how much of it didn’t really bring you anything makes you feel like you’ve been punched in the stomach a little bit if you’re having a particularly rough month it’s really easy to spend upwards of hundreds of dollars on emotional spending and not even really know where most

Of it’s going but aside from seeing what else you could have done with that money it’s really really helpful to journal this way to keep yourself accountable first of all if you know you’re going to have to write down the idiotic purchase and what went into it you’re much less likely to make it and making these purchases harder to forget means making it harder to

Slip into these bad habits if you see written down that you are very likely to stop into an overpriced frozen yogurt store every time you’re having a mildly bad day you’re going to be less likely to do it half the battle in breaking these unconscious spending habits is realizing you’re doing them now i’m not saying that you’ll never spend money to make yourself

Feel better of course you will it’s just that you need to look at your spending to really identify what part of it is actually helping a lot of times we think we’re spending money to sort of repair ourselves but we’re really just getting a quick hit of endorphins that we could get in another more healthy and more cost-efficient way the bottom line is that every

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Dollar you spend should be with good purpose and total understanding of what it will bring you any time you’re spending money absent mindedly especially if you’re feeling stressed out or insecure you’re almost guaranteed to regret it journaling is a really easy way to get serious control over your most elusive spending habits plus the journal can be cue to tell

As it’s almost any other change in your life mindfulness is the key as always thank you for watching and don’t forget to hit the subscribe button and to go to the financial for more bye

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How Much Your Insecurity Actually Costs You | The Financial Diet By The Financial Diet

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