How To Look After Your Money – Of course, taking care of your mind, body and spirit is essential. But you also need to make sure your finances are in shape as well. Therefore, taking care of money is taking care of yourself!
Making sure your money is in order means if something happens, you’re covered, you can buy a house, take a vacation, get your nails done—pay those bills.
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Plus, money can be a massive source of stress, imagine the stress relief. So let’s take a look at how to get your finances in shape.
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Yes, I know the concept may sound strange, but think about it. Taking care of money is taking care of yourself. When practicing self-care, managing your finances should be at the top of your self-care to-do list. All other aspects of your life (career, personal growth, health, daily life, etc.) depend on your ability to manage your money effectively.
When you decide to take the plunge into financial self-care, you’ll probably be dealing with a mess.
I am ashamed. So it’s time to give yourself the gift of radical self-love and compassion and let those mistakes go.
You are here to take care of yourself. Go through all the places where you have cash or where you have financial transactions and transfer the money to a central location.
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You probably have papers in your house too, check them and either file them or destroy them. You probably won’t need it if you’ve had it hidden in a drawer for months.
Well, now you have to go deeper. You need to see where your money is going. Does it go to things like savings? Or do impulse buys happen?
● Savings – how much have you been saving? If it’s nothing, then it’s time to start.
● Debts – If you have debts, you need to make sure you pay them off
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Once you’ve made your plans and set your goals, it’s time to take action. You need to make sure that all the goals you set for your finances are achievable.
Often when we say we want to save 600,000, we miss the intermediate steps like – save 600, save 3,000, save 30,000.
The smaller the goals, the more achievable they are. Of course, they are stepping stones to your financial goals.
Taking care of your finances will make you feel good as long as you remember that no one else is responsible for your financial well-being.
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You need to be responsible, and that means celebrating your wins and handling your money with confidence.
I believe you now understand that taking care of your money is also taking care of yourself! You know I love hearing from you. Meet me in the comments section and let’s talk about it!
Your finances play a big role in your life. In fact, it determines how every other aspect of your life will be, so taking care of your money is also taking care of yourself, and it’s something you should definitely start doing if you haven’t already.
Taking care of money is taking care of yourself. Let it sink into your pores. Start taking care of your finances today so you can fully embrace your personal growth and development.
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If you found this useful, don’t forget to share and leave your thoughts about it in the comments below. I’d love to hear what you think about taking care of your money as a form of self-care!
Hi, my name is Jennifer. I’m an engineer by day and a blogger 24/7. I am passionate about self improvement and productivity and this blog is dedicated to that passion! I hope it’s worth every visit! If you find something useful here, please share because sharing is caring! Before writing this article, I tried to research other people’s recommendations and views on finances and mental health/mental illness. I was surprised by the lack of content.
One of the main areas I support people in my current job is budgeting and managing their finances. Based on my own experience with mental illness, I know why. I know how hard it is to be financially stable and prioritize when mental health is low/high.
Despite the lack of content on the internet, financial stability can seriously affect your mental health and mental health can seriously affect your financial stability. Life can be stressful enough without worrying about losing a roof over your head or putting food on the table.
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In this article, we’ll talk about different ways to manage your finances to increase the likelihood of financial stability and reduce the impact it has on your mental health. We look at both sides; Managing finances with mental illness and managing finances to reduce stress and it’s impact on your mental health.
Take these suggestions and apply them to yourself as you wish, but remember to give yourself a little leeway every now and then. You have the right to buy the things you want to make you feel good, whether it’s take-out, dinner, a trip to the cinema or a new pair of shoes. Not everyone needs material things to feel good, I get that, but don’t allow yourself to get what you need or want without enough money by the end of the month. If you save enough or have the money, it’s 100% worth the splurge. Because you are amazing!
Envelope systems for managing your budget are a great way to physically see and manage your money.
This may seem so basic that you wonder why I’m even mentioning it. The problem with this nowadays is that we forget everything
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The reason for this is primarily because your budget can change from month to month. My budget changed dramatically from December 2019 to January 2020, mostly because I canceled my contract by 8 hours. I had to cancel monthly subscriptions, tighten up spending on toiletries and clothing, and take into account rising food prices.
Budgeting should ideally be done on the day you get paid. Schedule your bills and essential expenses such as travel; Then divide what you have left over among other categories, including savings. If you can, always throw money away, even if it’s nothing special. A rainy day fund never runs out and you’ll thank yourself later.
If you’re struggling to save, consider one of the luxuries you can go without. Now that could be canceling a subscription you don’t really use, replacing branded foods with cheaper alternatives, or skipping meals and choosing to cook at home. Even if it’s just a few pounds a week, they will grow. Say you set aside £5/$5 a week for a year, that’s £260/$. Is it worth the luxurious whipped cream, twice the coffee, or would you rather know you have money set aside to replace your stove if it ever breaks? Food for thought!
Savings is also helpful if you tend to shop online as a coping mechanism for low mood, or as a hypomania/mania symptom in bipolar disorder. When you are in a stable place, I encourage you to save as much as possible. It’s the best thing I’ve ever done. Knowing that you have a security blanket for your bills is the most comforting thing when you come out on the other side of an episode or period of poor mental health. You may not realize it at the time, but it will give you a giant pat on the back in the future.
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Getting credit with mental illness is something we’ll cover in more detail in a future article, but in short, don’t fall for credit card and loan ads if you can’t afford them financially.
I’m not an advocate for payday loans, in fact I’d go so far as to say they should be banned. At first, they may seem like a quick fix to your financial struggles, but in the long run, they can negatively affect your financial stability and, later on, your credit score.
Credit cards, and more often than not, payday loans, have high interest rates that can lead to further debt if you don’t pay them off on time. Most local councils have credit unions that offer safer loans that you can pay back at a rate that suits you. Credit union customer service advisors are also well-trained in mental health and wellness and can listen to and advise you about your financial situation. You don’t get that with bigger companies that are out to make money. When in doubt, stay local. You can learn about the benefits of credit unions here.
I did it four years ago and it was the best decision I ever made
How To Put Your Mind Over Your Money & Get Your Finances In Check » Notes By Nani
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