Lesson 1a: Why We Avoid Financial Planning
Financial planning may seem like a large insurmountable task. Many find it difficult to take the first step. So, I applaud you for starting this educational series. To maintain your commitment towards prosperity you can either increase your energy or reduce your resistance. However, if it was as easy as increasing energy, then why do many of us drop our New Year's resolutions before the end of January? It is because as you increase your energy, so does your ego increase its resistance to change. Your ego wants to maintain status quo. It is important to understand the reasons why you have avoided financial planning in the past (resistance) because these reasons will come up again as you proceed through this educational series and stop you from creating the prosperity you desire.
There are millions of reasons why people have avoided or neglected their financial plans. These reasons are really beliefs about yourself and money. Beliefs are how you see the world which will be discussed more later. The key to beliefs is that they can be changed by changing your thoughts (e.g., see a new reality). Some popular reasons /beliefs used by others are:
In reading the above section, some emotions may have come up. A friend who helped me review this site, felt shame when reading a previous version of this page. This is normal. Shame, anger, sadness and other feelings can be closely tied to money and what it represents. Realize that these feelings can stop you from taking charge of your finances. For now, feel these feelings (they will be addressed later) and do not let them stop you from starting your financial plan.
The next step is to uncover any hidden reasons for avoiding your financial plan. The first reason/beliefs that comes to mind may not be the most important issue to address. To find the answer, you may need to dig deep. One trick to uncover these reasons is to ask "why" 5 times, because the initial answer may not be the most important reason.
Here is a sample dialog.
Remember, this is just an example. This exercise is like peeling an onion; you keep peeling until you get to the core issue. The core issue is usually a belief about yourself or the world. For example, not having time or not being able to save are not beliefs about yourself. In this example, the reason for not creating a financial plan resolved around the person's belief that he is not entitled to have money and "will never amount to anything." If feelings come up like shame or sadness, explore the reasons for the feelings.
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