How setting boundaries can help your finances

If you have ever felt uncomfortable whenever talking about money with other people, you are not alone. Most people go through these conversations feeling some sort of shame, not only because of comparison for not being able to have the same lifestyle as others but also often to avoid feeling bad with oneself or recognize that not everybody can afford to do certain things. Therefore, personal finances end up affected when boundaries aren’t set.

However, the first thing to do is to get rid of the fear of talking with honesty about money. This does not mean that details around the bank account statement should be share but to let go of the shame that, somehow, a huge portion of the society still feels. It is not about showing off or disguise the family’s economical situation just to be liked or accepted within a group of people.

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This means that individuals must be honest and set boundaries when something is out of their budget, no matter what people are going to say. The way people manage their own money is each person’s decision and no one should judge if someone can’t afford to go out for dinner every single weekend. At the end of the day, the important thing is to know how to take care of personal finances because the only person who is affected is oneself.

Social pressure is a strong element that can affect a lot the way some people spend their money. Family and friends can influence in taking part in activities that cost money or to acquire products or goods to be part of the last trends and avoiding feeling overlooked by their social group, these key factors can root in people’s mind without even noticing.

Thinking consciously about this pressure given by social situations, such as going out to have dinner with friends or giving a lot of money to buy someone’s present, is one step that could be taken to begin setting boundaries. It is more likely that you are the first one to say something about it but, once you do it, you won’t be the last one. No one needs to know how much money anybody makes or why is saving money but what they can know is that there are things that, sometimes, are above the budget and there is no shame in that.

Learning to say no when noticing that the family’s economy might be affected is an attitude that should be more normal. There is still a silence around financial topics that only helps to grow the lack of knowledge around it. The bigger is the understanding around money management, the better decisions are taken to live a safer economical future.

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