Financial Wellness
Mind
Step Up Your Financial Wellness With Mindful Spending
July 23rd, 2021 at 6:45 am
When we think of mindfulness, we think of yoga and meditation, but the practice of mindfulness goes beyond that and deserves a place in our day-to-day life. Being mindful is allowing yourself to live in the present moment – something many of us struggle with in this fast-paced world. It allows us to be more conscious of what we do, from eating to spending, which can benefit our health and help us make fewer mistakes.
What Is Mindful Spending
Mindful spending focuses on becoming fully aware of how purchases make you feel. It requires you to pause before pressing “go to checkout” and check in with your financial goals as well as your personal values – will it make you feel happier and more purposeful? As we become more conscious with each purchase, we’ll be able to clearly distinguish between our wants and needs, and in turn, take better control of our finances.
Who Should Become A Mindful Spender
We should all practice mindful spending, but if budgeting feels too restrictive for you – being a mindful spender can help you achieve the same financial goals and peace. Of course, you won’t be able to change your spending habits right away, but you must remember that it will only work if you spend intentionally. If you continue to spend money mindlessly, you will keep racking up financial regrets and remain stuck in the same negative cycle.
How Does Mindful Spending Help
We understand if you’re still skeptical about mindful spending – you may not trust yourself, but the truth is, everyone struggles with it when they first start. Mindfulness in general requires practice, effort and patience, but the benefits it can bring to your life and financial wellbeing are totally worth it! These include:
Becoming a wiser spender
Mindful spending prioritizes your needs over your wants. As you become a more confident consumer, you’ll be able to resist the temptation of attractive sales and overhyped products. Developing this resistance will feel like a power you never knew you needed!
Reducing buyer’s remorse
How many exciting purchases have ended up gathering dust on the back of a shelf right after? We’ve all made purchases we regret and they always produce unnecessary waste. With mindful spending, you’ll be able to reduce these financial regrets with a clear headspace that stops you from buying things you don’t need.
Providing stress relief
You won’t have to worry about overspending anymore! Being a mindful spender can provide you with peace and help you with your financial goals from paying off debts to saving money. You’ll actually be able to enjoy spending money as it won’t be impulsive, but instead, will be done in a way that matters to you.
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