Seek the Truth
Do you know the truth about your financial situation—how much you earn, spend, and owe? Many people don't, because it's easier to avoid looking than to find out. Satya, the practice of honesty, asks us to tell the truth to ourselves as well as to others. It can be challenging, but yoga asks us to face the truth in all areas of life, including your relationships and your spending habits. The site youcandealwithit.com has tools for figuring out what you spend and how best to reduce your debt. To find out how much you owe to credit-card companies, visit annualcreditreport.com.
Look under the surface of your thoughts: Do you unconsciously tell yourself that you struggle financially, or that you live in abundance? Examine this question not as it relates to your hopes, but rather as a way to understand your motivations.
Unearth the stories you tell yourself, and you'll see a blueprint of your current financial life. How is your relationship to your parents and to money serving you? Do you feel you will lose something valuable (perhaps a feeling of closeness or security) by changing the way you deal with money? Write down the truths you uncover. Then, brainstorm practical steps to get a handle on your spending and debt.
Ask for Help
Money is challenging terrain for everyone, especially if you haven't been taught the basics. Ask friends who have their finances together for assistance. Better yet, talk with a professional adviser who has no products to sell. Consumer Credit Counseling Service (nfcc.org; 800/388-2227) offers free assistance. And find fee-only financial planners at napfa.org.