Your debt’s spiraling out of control. You don’t know how you’re going to afford rent AND put food on the table. You want to curl up into fetal position. Making life-changing moves to pay off your debt is TOO DAMN much for you. You’re in survival mode.
How to Set Money Goals When You’re Overwhelmed
First let’s dive into a few more scenarios of overwhelm with money, because overwhelm can happen to ANYONE. It doesn’t matter if you make $20,000 or $200,000. Overwhelm can happen if you’re drowning in debt or 100% debt-free. Life’s stressful and when overwhelm strikes it’s hard to achieve what you want in your financial life.
Common examples of overwhelm with money:
You’re in a new life stage (positive transitions are still overwhelming!):
- Grad school
- Newly engaged or married
- Moving and relocation
- Job change
- Pregnancy or new baby
Dealing with loss
- Death of family member
- Breakup or divorce
- Job loss
- Tense friend or family relationship
Emergencies
- Mental health crisis
- Major home or car repair
- Sickness
Here’s three ways to set money goals when you’re overwhelmed.
1. Live one moment at a time
Forget about your big picture money goals! Instead focus on what’s immediately in front of you. This concept of living in the moment is well known in recovery groups from the Serenity Prayer.
You’ve probably heard of the first part of this prayer:
“God grant me the serenity to accept the things I cannot change; Courage to change the things I can; And wisdom to know the difference.”
Here’s the next paragraph (it’s simply amazing!):
“Living one day at a time; Enjoying one moment at a time; Accepting hardships as the pathway to peace; Taking, as He did, this sinful world As it is, not as I would have it; Trusting that He will make all things right If I surrender to His Will; So that I may be reasonably happy in this life And supremely happy with Him Forever and ever in the next.”
In other words, set a small money goal for the day. Start with one small habit you can commit to for the day and then build from there.
Here’s examples of small money goals:
- Track your spending
- Stop using your credit card
- Take your lunch to work
- Meal plan
- Go grocery shopping
- Get rid of a subscription you don’t use
- List an item to sell online for extra cash
- Setup to pay your expenses automatically
- Automate your investing
- See how much your emergency expense will cost
- Call a friend to vent versus making an impulse buy
2. Give yourself grace
You can’t be on your A-game all the time. Like I mentioned before, overwhelm happens even when a positive life change occurs like a new job or baby. It’s a big change and there are a million things to do. It’s easy to feel guilt or shame. You think to yourself, “this amazing new thing happened. I should be happy! Why am I exhausted and struggling to accomplish my money goals?!”
Remember, there are only so many hours in a day and dollars in the bank. Know you’re doing the best you can given your circumstances. Everyone makes mistakes along the way.
Also, if you’re experiencing overwhelm from a crisis or emergency, whatever goals or plans you had for the year are turned upside in a moment. This isn’t easy. Emergencies usually come with a hefty price tag (repairs, medical bills, etc.). Give yourself grace. You were thrown off and might not achieve your money goals in the time frame you initially wanted. This is OK!
3. Get support and resources
If you aren’t making progress with your money goals, then this is a sign to look for outside help!
Managing money is hard AF. You don’t need to figure this money stuff out on your own. It’s something you use EVERY. SINGLE. DAY. Yet for some reason, you weren’t taught about it in school!
When I experienced a season of extreme burnout, I needed all the support I could get! I did therapy, saw a psychiatrist, went to retreats, joined multiple recovery groups, read books, journaled, exercised, and talked to a nutritionist.
In other words, I was so dang overwhelmed, I needed an ARMY of people who could help lift my burdens and walk alongside me through a tough season of life. I wasn’t capable of reaching any goals on my own. I added as many tools to my toolbox as I could!
Here are resources to help you overcome overwhelm and to finally reach your money goals:
- FREE 19-page downloadable guide: Start a plan to pay off debt and invest
- FREE Live Workshop: The Ultimate Guide to Managing Money
- Daily short videos with money tips and inspiration: @bestmoneyclassever on Tiktok and Instagram
- 4-Week Live Personal Finance Class (with optional private 1:1 coaching): Best Money Class Ever
If you’re experiencing overwhelm and struggling to reach your money goals, my heart goes out to you. Life does get overwhelming. You aren’t alone: build your army. Add tools to your toolkit!
P.S. If you liked this post, then like it and share it with your friends who also geek out on personal finance!
