Childhood experiences and family attitudes can shape the way people think about and manage money well into adulthood.
For some people, those early experiences can contribute to fear, guilt or anxiety around money.
Financial coach and consultant Leena Shah, founder of Ascend Ledger Solution & Consulting, believes that feeling at ease with money is about having peace of mind, understanding your financial situation, making intentional decisions and trusting yourself to manage whatever comes your way.
It is not only about having unlimited funds or being free from financial challenges. She says that financial comfort starts with awareness.
“Financial anxiety isn’t always about how much you have; it is about how you think and feel about money,” Leena says.
She says that people have grown up with financial fear, stress, scarcity, or comparison and these beliefs can be carried into adulthood.
Children observe how the adults around them manage money and learn from what they see.
The good news, she says, is that these early experiences don’t have to determine a person’s financial future.
With greater awareness and access to financial information, people can examine the beliefs that they have inherited and develop healthier ones.
“Financial anxiety isn’t always about how much money we have; it is about how we think and feel about money.
A stable income doesn’t eliminate fear and uncertainty. We can carry it forward into adulthood,” she says. One of the indications that someone may be uncomfortable with money is avoidance.
They may be afraid to check their bank statement, constantly worry about paying bills or feel guilty whenever they spend.
Some people may compare their financial situation with that of others or experience guilt after making impulsive purchases.
These behaviours can indicate that a person’s relationship with money needs attention.Fear, guilt and shame can also influence financial decisions.
Fear may prevent someone from making necessary financial decisions; guilt can make it difficult to enjoy money even when spending is reasonable, while shame may cause people to hide financial difficulties rather than address them.
Leena recommends challenging the beliefs that contribute to these emotions, avoiding statements such as “I will never have enough money”, “money is the root of all problems”, and “I’m not good with money.”
It can be limiting when they are accepted as permanent truths. “Writing down these thoughts and deliberately replacing them with healthier beliefs can help shift the way someone thinks about money,” she says.
She notes that instead of saying, “I never have enough money”, they focus on learning to manage money better.
The belief of “I am bad with money” can be replaced with the recognition that every small financial step matters.
She advises being comfortable with financial information by starting small, by setting aside a few minutes every week to review their income and expenses.
Avoiding a bank statement doesn’t change the figures on it. The bank balance is information, she says, not a measure of a person’s worth or future potential.
Instead of judging yourself for what you see, you can approach your finances with curiosity.
If you have overspent, for example, you can examine why it happened and consider whether the spending was aligned with your values.
“Knowing where money is going can also reduce uncertainty. Tracking expenses gives people a clearer picture of their financial situation and makes it less likely that they will be caught by surprise,” she says.
A financial routine can make this process less stressful; reviewing finances weekly, breaking large decisions into smaller ones, maintaining a basic budget, identifying upcoming bills and setting financial goals can help reduce last-minute pressure and then build confidence.
The budget, she says, doesn’t need to be complicated. It should provide a realistic picture of income, expenses, priorities and goals.
