An old friend said something the other day that really resonated with me. He's a songwriter, musician, and author, and we were discussing how his relationship with money has changed throughout his career. He mentioned that as his understanding of financial decisions improved, he actually spent less time thinking about money – because he wasn't worrying all the time.
It's somewhat counter-intuitive: on the surface, it would seem that learning about an issue would increase the amount of time and mental energy devoted to that topic. People who know a lot about cars must spend a lot more time thinking about cars. Right?
Yes and no. An armchair car expert may spend some extra time on preventative maintenance so that the threat of a breakdown is minuscule – a little extra work upfront in exchange for long stretches with little or no concern.
By contrast, a person who "ignores" the check engine light doesn't really forget that there is a problem. That person knows that something should be done and that the chance of it getting worse increases each day – and often ends up spending much more time thinking about the issue, but with a higher level of stress.
Procrastination and avoidance sap mental and emotional energy by prolonging the duration and increasing the perceived difficulty of the task at hand. The problems or concerns or worries have not gone away – they sit there in the mind like an itch that can't be scratched.
Taking the time to understand the role that money can play in reaching our goals can actually reduce the total amount of time spent thinking about money. It can offer a sense of confidence and freedom in place of worry or fear.
Interested in finding out how your own relationship with money can become a source of confidence? Schedule a call to learn how we can keep it easy on the road to a better future.
Timothy Iseler, CFP®
Founder & Lead Advisor
Iseler Financial, LLC | Durham NC | (919) 666-7604
Iseler Financial helps creative professionals remove stress while taking control of their financial futures. As both advisor and accountability partner, we help identify current strengths and weaknesses, clarify and refine your long-term goals, and prioritize understandable, manageable, and repeatable actions to bring long-term financial well-being. Reach out today to take the first step.