Study Shows How Far People Would Go to Be Free of Money Management Tasks
Imagine a scoop of vanilla ice cream, drizzled with hot fudge and topped with nuts, whipped cream and cherries. Now, imagine never eating it again. Preposterous? Maybe so, but 37% of Americans are willing to give up sweets, alongside all other carbohydrates and alcohol for the rest of their lives.
What would drive people to such an unimaginable choice? The chance to hand over the management of their finances to someone else. Here’s just how far nearly half of American’s would go to be free of this task.
What Would You Give to Be Free of Money Management?
Managing money isn’t exactly a delightful task, especially when the budget is tight or there’s debt to address. It’s surprising, however, how far many Americans would go to avoid thinking about the state of their finances ever again.
This is a job so disliked, there are many who would give up their favorite things in exchange for someone else taking over the job. A new Merrill Edge study found that 41% of the 1,000 survey respondents would give up on social media for good, 37% would stop consuming carbohydrates, sugar and alcohol for the rest of their lives and 35% would stop using their smartphone for a month.
What’s more, there are those who wouldn’t just sacrifice something they love in exchange someone else managing their finances, some would actually subject themselves to unpleasant experiences over and over again. A surprising 25% of respondents would be OK with running into their ex every time they’re out and about with their significant other and 25% would pack up their stuff and take up residence with their parents again!
How Do You Feel About Your Finances?
Where do you fall? Does giving up chocolate sound like a reasonable exchange for knowing money management is being taken off your plate for good? Maybe it doesn’t need to be so complicated!
Money management can be broken down into simple steps and new habits can be tackled one at a time until proficiency is accomplished. Not sure where to begin? Consider starting with the choice to automate bills, investments and debt payments, which is the next best thing after hiring a personal finance manager.
Next, spend at least a month tracking spending. What you spend now can be used to predict future spending and help draft a budget. From there, you can make small adjustments that fall in line with long-term financial goals.
It isn’t uncommon to feel frustrated, overwhelmed and even confused by managing finances. Don’t be afraid to turn to professionals for extra support, just don’t give up your dessert in exchange for their help!
~ Here’s to Your Financial Health!
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