Avoiding your finances? Here's how to regain control and take the fear out of debt. - Interview with Leah Golob, The Canadian Press

Young’s experience is not uncommon, as people tend to avoid their finances when they’re feeling fear, anxiety or failure, said Caval Olson-Lepage, a certified financial planner with Affinity Wealth Management in Saskatoon.

Finance avoidance might look like avoiding important bills and bank statements — and shouldn’t be confused with laziness because the avoidance comes from an emotional place, Olson-Lepage said.

“You tend to overspend. You don’t want to create a budget or if you do create a budget, you’re not sticking it. You’re also not willing to talk about money to your partner or friends. It becomes a very taboo subject,” she added.

Avoiding finances can have long-term consequences since it makes it difficult to achieve financial goals, such as paying down debt, saving for retirement or even a vacation, Olson-Lepage said.

And, by ignoring your financial statements, you might not realize that you’re paying high or unnecessary fees or service charges, overdrawing your account or that fraudulent charges have been made.

Read full article here: Avoiding your finances? Here’s how to regain control and take the fear out of debt | The Star