When it comes to money, it can be easy for people to go to one of two extremes: 1) viewing money as the enemy; something not worth putting much thought into, or 2) fearing money, which can cause many to be hesitant to use the resources they do have.
At PCS Debt Relief, we believe in maintaining a balance between these two mentalities. It all boils down to being mindful with your finances. But what does ‘mindfulness’ mean? Essentially, the art of mindfulness involves focusing on your present and cultivating habits that will help you improve your life.
Over the next few weeks, challenge yourself to think about your thought process as far as your spending and saving habits go. If you find that you often regret certain purchases that you make or are hesitant to spend more than $10 on any one item, mindfulness can help ground you and improve your approach to money.
Here are some ways you can start changing your thinking for the better:
Think about how often you use your smartphone. It’s your alarm, your inbox, calendar, to-do list and of course, your phone. Reaching for your phone is probably second-nature to you and your day would almost certainly be thrown off if it were to go missing.
So before you get swept up in checking promotional emails, friends’ news feeds, and your reminder notifications, take a breath. Begin your day by identifying what positive habits you want to develop today, whether it’s being more mindful in your spending, being more patient, setting intentional financial goals, or being more flexible with your budget. You might be amazed by the insights you’ll gain when the noise of the Internet world is turned off.
Set Realistic Goals
Where do you want to be financially a month from now? What about two months, or a year from now? The actions you take now will determine your success in the future. If you want to start putting 10% of each paycheck into a savings account, you need to start acting now rather than saying you’ll do it tomorrow. If you want to be more comfortable financially, you need to actively visualize this goal every time you’re tempted with an impulse buy.
At the same time, it’s important not to become so caught up in good financial behavior that you’re constantly stressed. Check yourself by identifying your feelings behind each financial decision.
This is the time to treat yourself with kindness. After all, you won’t be making perfect financial choices all the time. Rid yourself of any negative thought patterns and don’t focus on the mistakes you’ve made in the past. Instead of thinking to yourself, “I haven’t been so great with my money,” say “I have plenty of new opportunities to create better spending habits.” You can acknowledge the past, but then move on. Focusing on the present will help you generate more positivity in your thinking.
Everything in Moderation, Including Moderation
There are a lot of similarities between developing financial wellness and dieting. With both, it’s helpful to understand why you choose to eat when you’re not actually hungry or buy things that you know you’ll only use once (or not at all). When you start asking yourself “why” before every financial decision, you’ll be more likely to make better choices down the line.
But remember, you don’t have to say “no” to every purchase opportunity that crosses your path. Moderation is key, but you don’t have to live in a constant state of deprivation.
PCS Debt Relief advisors are always standing by eager to find solutions to relieve the stress you feel caused by debt. Attacking the silent stresses of debt can be the best way of caring for yourself. Call us today at (636) 209-4481 for a free consultation to begin experiencing the benefits of financial stability.