Emotional Cost of Personal Finance

What’s your reaction when the monthly bills arrive? Do you feel nauseous? Do you feel sick to your stomach or have headaches? Or, do you feel overwhelmed or panic?

I am sure that you are working very hard to pay off your bills. However, your bills seem to never get smaller. Actually, it looks like they keep growing! You are not sure what is happening here, but you feel very exhausted working to pay all the bills. You feel like you can’t do anything you want, no matter how hard you work. You feel upset and even despair. You feel inadequate, shame, and don’t know what to do.

What’s happening here? Your life is being taken over by the bills! Notice, your personal finance issues are costing your health! They are affecting both your physical and mental health. Are you stunned? As you see now, personal finance issues are very much intertwined with your emotional well-being, and they can even increase your chance of developing clinical depression and anxiety.

We are living in materialistic and consumption driven culture. The society makes us feel that we constantly need to purchase stuff. I know, we just try to fit into the society’s norm. We don’t want to feel left out. We don’t want our kids to feel inferior. So, we continue to spend money to buy things. Besides, it feels good to buy stuff. Buying kind of comforts our feeling. So, what happens then? Basically, we work for stuff, and we drive ourselves into personal finance trouble.

Are we working for things?!?! Actually, we work to improve our life, don’t we? Does stuff make our life better? Yes, in some degree, but when all your basic needs are met, probably, having another “I-phone” or “Shoes” will not make our life much different, would it? Yes, we get temporary comfort from buying stuff, but it will not last for so long. Then, we start to feel anxious. So, what do we do? Buy more stuff! It’s a vicious cycle.

Controlling your finances is one way to boost your mental health. Instead of buying merchandise to comfort yourself, maybe, you can learn a new way to cheer yourself up. For some, maybe, there are underlying emotional issues of your financial struggle. Maybe, you could talk to someone? It may give you a new perspective on your problems. Going to see a therapist or life coach may be one way to straighten out your personal finance issues. Instead of spending money for stuff, maybe, you may want to invest money on yourself? Investing in yourself may be the best deal for your life.

Paradox of Personal Finance Management Software

Nowadays, everything in this world is related to money. Without money, one can never do anything. Some people would defy this statement and say that they could grow their own crops and breed their own poultries without spending any money. But this is definitely ridiculous and senseless as even the fodders that you feed to the farm animals have to be purchased from other vendors. The importance of money in this world has grown significant over the past years and the skill to manage money wisely is a must in order to maintain a good financial status. To achieve this, many people chose to use personal finance management software to help them manage their finance. This includes a variety of software that can help record expenses, calculate budgets, display graphs of transactions, formulate debt calculations and etc.

However, the finance software present nowadays are very fancy with overlapping figures, rich colours and includes complicated functions that only an accountant knows how to use it. This in return causes paradox as it defeats the purpose of helping users manage their money as they don’t even know how to use the software. So the point is, why create software of which the intention is to help users but on the contrary it is not user friendly and causes users to dislike using them.

It is very contradicting to create multifunctional software which nobody wishes to use it. I myself was a victim of this as I once faced problems regarding finance management as it was troublesome to keep records of all my transactions which lead to me to buying some costly personal finance management software. However much to my surprise, most of the software that I bought was overcomplicated that I could not even understand how to use it which contains tons of additional functions that I did not require. I was furious after spending days trying to understand the software and finally I was frustrated and gave up using the software and hired an external accountant to help me manage my finance. Thus, this paradox should be taken into consideration by the programmers to stop trying to load their software with more advanced functions but instead make software that is simple and contain only the mandatory functions. This would definitely lead to a better market for personal finance management software while at the same time help solve the problem the society is facing.