If I asked you what self-care you were practicing, I bet I would get 100 different answers including, but not limited to, daily yoga, no sugar, spa days and the list continues, am I right?
What if I asked what you’re doing for your financial self-care?
Have you ever heard that terminology? Do you know what financial self-care is? Financial self-care is about taking care of your money and keeping up with day-to-day momentum as well as looking out for your future and what is good for you.
If you know me, you know I am all about living your financial life your way. None of us have the same thoughts or ideas, so why would our financial worlds look the same? The one thing we do have in common is needing financial self-care in our lives. I want to talk with you about how you begin to practice it and make it a part of your daily life.
Financial self-care starts with connecting with your money. We have become a world of digital swipers who probably rarely see physical cash. We are losing out on the physical connection of money passing through our hands. The first step is rebuilding that connection by spending 5 to 15 minutes a day reviewing our bank or credit card accounts, depending on how you make your day-to-day purchases. Find a time that works for you daily were you can focus on just your finances, open your bank account, and review the posted and pending transactions for the previous day. Did you make those purchases? Are all the payments you made cleared through the account? How much of the money in the account really is in the account and usable? Financial self-care begins with connecting physically, mentally, and even emotionally with your money.
Financial self-care reflects our current and past financial circumstances. You can have incredible self-esteem and confidence about your life and not feel the same way about money, but eventually it will catch up. Our emotions play a huge role in our financial situation. Are you the person that takes a back seat to your finances and lets someone else handle them, like a spouse, partner, parent? You know you get a paycheck but not quite sure where the money goes. You’re not alone, this is more typical than you would think in the US.
While growing up we all observed how money was handled in our families, households, and even with family friends. Think back to the first memory you have of money, is it a good feeling? Bad Feeling? This is where your money relationship started. My money relationship began with my mother, she was a gambler, and I would watch her scratch off tickets, go to the casino and just kiss her money goodbye. Now do not get me wrong, she did win occasionally, but I often wondered if you added up all the money spent in a lifetime compared to the money “won” how it would balance out. I learned from that moment that I wasn’t going to let go of my money that easily. I am not a gambler, although I do occasionally buy the famous million-dollar state lottery tickets, but I honestly limit it to $2.00. If I can’t hit those numbers in $2.00, I am not going to hit them at all. So where did your money beliefs come from and how are they impacting you today? Are they helpful or harmful?
Do you need to dive in and develop some new financial self-care habits?
- Start connecting with your money (check your account daily)
- Reflect on your relationship with money (who, what, when did I learn about money)
- Develop new habits and let go of the old routine if it’s harmful (money date, 5 to 15 minutes daily)
- Increase your financial literacy – start asking questions and talking about your finances with someone you feel safe with
- Prioritize your expenses
- Create realistic goals that fit your lifestyle not society’s
Still need assistance? Contact us at coachingwithgrace1