Your self-care routine may currently look like curling up on the couch, after a long day of work, with a soothing scented candle on the side, a hearty cup of tea in one hand and a hilarious self-help book in the other. It could also involve a checklist of good habits you’re trying to incorporate into your daily routine, like not checking your phone right after you wake up or focusing on the rich flavours of the food you’re eating. What we tend to overlook when it comes to wellness is financial self-care – although we are well-aware of the stress and anxiety that stems from our finances.
Wellness focuses on our overall health and wellbeing, and that definitely includes our financial health. Having a financial self-care routine will not only benefit our finances, but it will also contribute to our happiness and overall wellbeing. After all, real self-care helps us reframe the situations we’re in to get to the root of our problems. It goes beyond feeling comfortable and digs deeper into healing in order to feel better afterwards.
It can be intimidating, and even embarrassing to confront our own finances, but by adding these good money habits to your self-care routines and checklists, you’ll be able to develop a better understanding of your finances and a healthier money mindset:
- Confront your feelings about money
Write down the first few things that come to mind when you think about your finances. Ask yourself why you feel the way you do – it could come from a childhood experience, having student loan debt or recently seeing others lose their jobs. These fears can prevent us from taking control of our finances, so once you’re able to understand your limiting beliefs – you’ll know how to move forward and start organizing your finances.
- Check your bank accounts
Make it a habit to check your bank accounts often. Not being aware of where your money goes can cause a lot of frustration. By physically seeing your bank balance, and keeping track of your transactions, you’ll be able to make more informed decisions when it comes to spending. This habit will also allow you to catch any unusual transactions or unauthorized purchases before it’s too late.
- Set and review your financial goals
We all have financial goals. What do you aim to do with your money? You could want to repair one of your devices, pay off credit card debt, or save for a car. Note down these goals and break them into smaller steps that can be achieved daily or weekly – i.e. saving RM50 a week for 6 months. By constantly reviewing your progress, you’ll be able to ensure that you’re on the right track and be aware of any obstacles that could set you back.
- Practice mindful spending
Set boundaries when it comes to your money. With shopping being just an app away, it’s become much easier to spend money – ‘retail therapy’ now consists of browsing when we’re sad or happy. Either delete the apps or add the items to your wishlist (instead of your cart) and sleep on it. As with any impulse, see if you still want it badly the next day or in the following days.
- Reward yourself
We’re not saying you shouldn’t spend any money at all, you should always treat yourself – responsibly that is. Reward yourself for reaching your financial goals, but make sure you’ve made space in your budget for treats. This can motivate you to save more. Remember, wellness is all about balance – don’t feel bad about tending to your differing needs.
- Educate yourself
Unfortunately, since we didn’t learn financial literacy in school, it is our responsibility to educate ourselves. Most of us are actually clueless about money, not even receiving honest advice from our parents because it is a taboo topic. Make the effort to read, join free courses, and listen to podcasts – no, not to ‘get rich’, but to get a better understanding of how to manage your finances.
The longer we ignore our limiting money mindset and beliefs, the harder it’ll be for us to become financially stable, secure or free. You can avoid further stress and anxiety by finally stepping up and taking control of your finances.