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Financial wellness and what it really looks like
June 26th, 2020 by Katie Weber
In this era of practicing self care it seems we often forget how important financial self care really is. I don’t mean in the sense of treating yourself to something material, but the stress relief associated with beginning to understand your finances. The same way that self care is different from person to person, financial wellness looks different to everyone.
It has become so ingrained in our society that separating spending and living is near impossible and we often look to material items for comfort, which later brings on the stress of money. Money is a huge stress point for most people, myself included, but there are little ways we can feel on top of things and have more control.
Here are our best tips for financial selfcare and how to stare the stress in the eye and conquer it.
1. Start talking
Talking about finances is a daunting task; feeling guilt and fear in your struggle to manage money is not a healthy way of taking care of it. So, ditch the fear and talk to friends or loved ones, and bring your money worries and hopes to light.
2. Track your spending
Sticking to a budget is often easier said than done but there is never a better time to create one or revise and old one to fit your current goals. Seeing where your money goes makes you more aware when spending it.
3. Make room in your budget for treats
When budgeting, people are often far too strict, which makes room for impulsive decisions. Put a little money aside every month for something small to reward yourself for positive financial moves.
4. Save everything
Saving is the easiest way to feel comfortable in your finances and it doesn’t even have to be large amounts. The change in your pocket or the money left over at the end of the month are a great place to start and it adds up quicker than you think.
5. Create inspiring financial goals
Passion fuels desire; the more strongly you feel about attaining something, the more likely you are to do it. Make goals that excite you!
6. Nurture your financial confidence
Never stop learning about your finances. Things are ever changing and there are tons of ways you can continue to improve not only your financial goals, but your financial literacy. Listen to podcasts, read books and articles, and always stay curious.
7. Know when you lack financial literacy
Sometimes we need to consult an “expert” on our finances and that is nothing to be ashamed of. Knowing when you need the help and actually getting it will help you in the long run.
8. Be kind to yourself like you would a friend
It is so easy to look down on ourselves for financial mistakes, but we need to be kind to ourselves to remove the shame that can come from finances. Talking to yourself like you would a friend and loved one will help you be kinder to yourself. Remember that you are only human.
Financial self care isn’t about net worth, but about taking control of your finances and financial situation. Stress and anxiety about money may never disappear, but taking control of the situation will help.