In times of uncertainty, nothing quite preys on our minds like the state of our finances. From fluctuations in the economy to unexpected personal circumstances, these turbulent times can make smart money management seem like a daunting task. But with the right strategies and mindsets, navigating these choppy financial waters doesn't have to be as intimidating as it seems. Recently, I had a chance to delve into these issues with financial coach, Nia Adams. 

Meet the Finance Professionals

First, let me introduce myself. My name is Renee Collins, a CPA Certified Financial Planner and the founder of Retire Ready. Joining me in the conversation was Nia Adams, Certified Financial Education Instructor with a mission to help high-achieving women overcome money mistakes and transform their spending habits.

Creating Stability in Shaky Times

When it comes to managing your money during this unsettling time, it's essential to stay grounded. With the impact of inflation causing the cost of everything to rise, it's natural to feel anxious. The first step is to control what we can - our minds and our money.

The Power of Positivity

Negative thinking can spiral out of control and exacerbate anxiety. A significant part of managing your finances successfully is mastering your mindset. Nia nailed it when she said, “it's more productive to think in a positive and productive mindset.” For instance, if your property taxes go up, instead of stressing over this uncontrollable factor, consider how you can increase your income or where you can make cuts to compensate.

Operating From A Place of Gratitude

Facing financial uncertainty often means needing to refocus and reconsider our priorities. Operating from a place of gratitude can help. Appreciate what you have, and remember that what seems commonplace to you might be a luxury for someone else. This perspective can help reallocate your resources towards what matters most to you.

Track Your Money, Take Control

Keeping track of your finances might not be the sexiest of tasks, but it's a crucial one. It's all about knowing where your money is going so you can ensure it aligns with your priorities. When you allocate your finances to meet your goals—for example, towards your desire to travel—you empower yourself and take control of your financial future.

Mindset Matters

Achieving financial stability takes more than just sensible spending and saving habits; it requires a profound shift in your mindset. Recognizing your worthiness of wealth and overcoming negative self-belief is a significant step towards achieving your financial goals. Mindfulness, positive affirmations, and journaling can play a crucial role here.

Ultimately, managing money in uncertain times calls for a blend of practical strategies and positive mindset changes. So, as we navigate these unsettled financial seas, let's remember Nia's vital parting wisdom—money management is a form of self-care. And with the right approach, we can all make it through these uncertain times with our finances—and peace of mind—intact.

To obtain a copy of the full transcript click here. 

Renee K. Collins, CPA, CFP®, Founder of Retire Ready Inc. 

Zinnia Adams, CFEI, Founder of Perspectives