Perhaps years ago everything was going smoothly. Your bank account was full and so was your life. During that time, money was your friend. But something happened along the way and your finances have become more of a chore and a hindrance, and money and the notion of finances got a bad rap.
Usually it’s because we think have too little of it, so we feel constrained by the lack of money or the need of more money. In some cases, we’re even a bit afraid of it. But you shouldn’t be afraid of your money.
Sometimes if we adjust our thinking about money and finances to a more positive perspective, we can gain a new and more positive outlook. Here are just a few ways to change your thought process to help you love your finances (again).
1. Don’t compare. Everyone’s financial situation is unique. We all have different financial goals and priorities. So don’t compare your money or possessions (what you have as a result of money) to others.
2. Focus on your own financial goals. Think of money as a tool to reach your financial goals. If you keep your eye on the big picture, then the small day to day financial decisions may not seem as much of a burden.
3. When you do spend money, make it count. It’s easy to run into a store for one item, and all of a sudden you see ten more things you need. (We’ve all been there. Going to Target is a great example of this and they have even used it in their advertising!) When it happens, stop and ask yourself do I really need this item or do I just want it? And how will having this item improve my quality of life in some way? How will spending X on this affect my financial goals? How many hours did I have to work to be able to purchase this and is it worth the trade off? (And any other questions that may be pertinent to your situation) Asking these questions will help you keep impulsive spending at bay.
4. Make sure to save some money. Start out small. It’s funny how when you save some money, even just a little, it can become an obsession – a contest between you and yourself. You start with $25.00 in a savings account. Next month you add another $25.00, and before you know it, you’ve saved a nice chunk of change. And once you have a savings goal, it’s easier not to justify those impulse buys because your priorities shift, and instead of wanting more stuff, you want to see your savings grow.
5. When you incur an unexpected expense, which we all know can be a huge downer and leave us bummed for days, weeks, even months depending on the amount, try to look on the bright side and be grateful you had the funds or access to funds to take care of the expense in the first place. Since unexpected expenses usually fall in the category of an emergency, whether it’s medical, home maintenance, car maintenance, etc., take solace in knowing that in the long run, it was money well spent. And try not to dwell on it for long. Move on.
Let’s face it, it takes money to live, and a lot of it! So your spending won’t come to a complete halt. But if you set your financial goals, prioritize, and stay focused, before long you just might love you finances (again).
What are some things you have done to love your finances (again)?