04 Jun 2021 • 2mins • Yolt

What’s the next step in your co-dependent relationship with money?

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What’s the next step in your co-dependent relationship with money?

So you’ve read our What kind of relationship do you have with moneyblog, and you’re in a ‘co-dependant relationship with money. Now what?

What is a co-dependent relationship with money?

If you’re in a co-dependent relationship with money, it can feel like you’re constantly worrying about your bank balance. You don’t go a day without checking your accounts and often feel guilty when you spend on things that don’t feel essential. When it comes to saving, you’re pretty on top of things. You scrape and save the pennies, sometimes even going without just to stash a little extra in your saving pot. After all, you never know when something unexpected might come along.

How might your co-dependent relationship with money affect your savings?

Constantly having one eye on your bank balance can be mentally exhausting, and could even make your anxieties worse. Of course it’s important to know your budget can see you through to your next payday, but obsessing over every penny will likely get on top of you eventually, and could even lead you to splashing out on things you don’t really want to make yourself feel better.

How to take back control in your money relationship

A healthy, balanced relationship with money doesn’t necessarily mean knowing your exact balance at every moment. Use these top tips to help you feel more in control of your co-dependent relationship with money:
• Review your budget:if you feel the need to constantly check your balance, it might be that the budget you’ve set simply isn’t enough to cover your lifestyle. Take time to revaluate your living budget, so you know you’re giving yourself enough to live on
• Automate your savings: if manually moving your money between accounts makes you anxious, try using the Set Saver feature in your Yolt app to help relieve some of the stress
Practice money mindfulness: don’t let money worries get in the way of your happiness. These 9 zen tips can help you master money mindfulness and help you on your way to a more balanced relationship with your finances