Financial Self-Care: How Managing Your Money Improves Your Overall Well-Being
- Ashanti Young
- Mar 4
- 3 min read
When we think about self-care, we often picture things like massages, journaling, or going to the gym. But what about financial self-care? See, the truth is, your financial health is just as important as your mental and physical well-being. Managing your money in a mindful and intentional way can reduce anxiety, boost confidence, and create the kind of financial stability that that allows you to truly thrive.
With that said, if money is stressing you out, the information below is going to help you dive into developing your financial self care practice, so you can regain control.
Practical Tips for Reducing Financial Stress
The stress of money can weigh you down; here are a few actionable steps that you can take:
Get Clear on Your Numbers-
Avoidance WON'T make your financial stress disappear. Take a deep breath, review your income, go through your expenses and debt, and get a clear and honest picture about where you financially stand.
Create a Money Routine-
Just like you would schedule workouts or meal prep, set aside time EACH WEEK to check in with your finances. That means review your budget/money plan, track your spending and make adjustments as needed.
NOTE* This should be a REGULAR practice; so make sure you do this EVERY WEEK to develop this practice into a habit.
Build an Emergency Fund-
Having a financial cushion will reduce stress and help you handle unexpected expenses without sending you into a panic. Work towards saving 1-3 months worth of expenses and then when you are able, increase that to 3-6 months' worth of expenses.
NOTE* You may not have 1-3 or 3-6 months' worth expenses right now. But as long as you are CONSISTENTLY saving towards that goal, then you are headed in the right direction. Even if you have to start with small amounts, develop a plan to bring in extra money, keep going and add to your stash. You WILL eventually get there!
Automate Your Finances-
Make money management easier by setting up automatic bill payments, savings transfers, and investment contributions. Automation helps take the thinking out of the process. This way, you can eliminate the possibility of forgetting to make payments.
Set Boundaries Around Money-
Whether it's you saying no to lending money out or avoiding impulse purchases, setting clear financial boundaries helps to protect both your wallet and your peace of mind.
Visit: http://coin-conscious.com/post/waystoearnextraincome for suggestions on additional ways to earn extra income
Adopting Mindful Spending Habits
Mindful spending is about making intentional choices with your money rather than reacting on impulse. Here's how start:
Pause Before Purchasing - Before buying something, ask yourself: 1) Do I really NEED this? 2) Does it align with my financial goals?
Align Your Spending with Your Values - Spend on things that truly bring you joy and cut out expenses that don't add value to your life. (This action alone has really been effective for me!)
Use Cash or Debit (NOT CREDIT) for Random Spending- This helps curb overspending and makes you more conscious of your financial decisions
Track Your Emotional Triggers - If you tend to spend when you're stressed, bored, or emotional, find healthier coping mechanisms like journaling or exercising or something else that DOESN'T always cost you money.
Creating a Financial Routine That Supports Your Lifestyle Goals
Financial self-care isn't about deprivation-it's about building a money system that works for you. Here are some ways to create a routine that aligns with your lifestyle:
Set Clear Financial Goals - Whether it's paying off debt, saving for a trip, or investing for the future, knowing your "why" keeps you motivated.
Use a Budget That Works for You - There's no one-size-fits-all approach. Whether it's the 50/30/20 rule, zero -based budgeting, or another method, choose a system that fits your lifestyle and helps you make progress with your finances.
NOTE* For suggestions on creating a COMPLETE MONEY PLAN, check out the link below:
https://www.coin-conscious.com/post/beyondbugeting-creatingyourcompletemoneyplan
Celebrate Financial Wins - Acknowledge progress, no matter how small. Paid off a credit card? Increased your savings? Give yourself credit and congratulate yourself because change happens when you consistently take action!
Final Thoughts
Taking care of your finances is one of the best forms of self-care you can practice! When you manage your money with intention, you reduce stress, gain confidence, and create financial freedom that allows you to live life on your terms.
So start small, be consistent, and remember -> financial self-care is an ongoing practice!
Ready to take control of your financial wellness? Click the link below to download your Free Financial Wellness Checklist to start building the habits that will help you thrive!
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