Respect Your Finances
By Deann Ware, Ph.D. ... Add Comment
Part of taking care of yourself is taking care of your finances–most people feel better when they spend their money conscientiously.
Also, if you’re on a tight budget, planning ahead helps decrease stress. Here are some ideas:
Easy:
- Before you make any purchases today, simply ask yourself, “Do I really want this? Or is there a more economical option I might consider?” You may not change your purchasing behavior, which is fine, because you are becoming more mindful of your spending.
- Are you spending money on things that are no longer important to you? Think about any automatic payments or annual membership fees you have–are these still a priority? This could be anything from extras on your cell phone bill to club memberships. Make a note of items you should reconsider and put these on your to-do list.
Moderate:
- Take action on the second item above–start canceling services that aren’t important to you anymore!
- Establish an action plan to save for something you want. It can be as small as dinner out or as extravagant as a fabulous trip or home remodel–the important thing is to start setting financial goals!
Ambitious:
- If you have a budget, review and revise your budget. If you don’t have a budget, look at how you track your finances. What can you learn from how you earn/spend/invest your money?
- If you have investments, review your investments; if you have a financial advisor or analyst, consider scheduling a meeting to review your investment strategy.
Click here for an interesting article on “money scripts”–the unconscious beliefs we have about money. Or for a more in-depth analysis of money & happiness, check out Happy Money: The Science of Smarter Spending.
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