If you keep trying to save money and failing, there’s a good chance you’re possessed… by “financial demons,” says Kiplinger. Here’s a list of six common ones and how to exorcise them, before your credit rating goes all Linda Blair on you.

• Procrastination – No matter how much you learn about how get your finances on track, something makes you hold back, and despite your best intentions you never take action. We’re glad Kiplinger listed this one first, because it’s the sneakiest and consequently hardest to fight. And it’s not a trivial issue that can be fixed with better scheduling; if you’re a procrastinator, read this article and start thinking seriously about how address the problem before it causes you any more harm.
• Entitlement – It’s easy to confuse needs with wants, so always build in lots of cooling off time before making purchasing decisions.
• Ignorance – Spend some time learning the basics of finance!
• Fear – If you’re afraid of losing your money in an investment, you’ll never invest it, which is a guaranteed loss against inflation. Kiplinger advises you take baby steps at first until you grow more comfortable with risk.
• Exhaustion or Indifference – It can be a lot of work managing your finances, unless you learn to take advantage of things like automatic payments, online services, even spreadsheets. Don’t try to do it all by yourself or you’ll risk burning out.
• Jealousy – Don’t compare your financial situation to friends. Just don’t. You don’t know every secret about their debt load, income, financial education, etc., and you’ll never get an accurate reading of where you stand if you’re constantly judging yourself against others.

“Exorcise Your Money Demons” [Kiplinger]

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“Procrastination: Ten Things To Know” [Psychology Today]
(Photo: Getty)

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