Let’s talk about money. Money is a touchy topic; it’s so influential, it can make or break a marriage. I think the reason people don’t like to talk about money is because it then becomes – real. Depending on what your first experience was with it, may trigger a bad memory or bring up feelings of shame about financial mistakes or days of mismanagement.
Are You Financially Mindful About Your Spending?
"You cannot fix what you will not face." ~ James Baldwin.
How Aware Are You Of Your Spending?
We develop a magical power when we become aware of our spending, because we can see which expenses are adding value to our lives and which expenses we are ready to release.
3 Ways To Be Mindful Of Your Spending
Pay With Cash
We’re more aware of our spending and more likely to remember a purchase when we pay with cash. When you use a card to make payments, it’s easier to ignore the emotion attached to the pain of paying.
Check In With Your Body Before You Spend
Our emotions tell us a lot more about ourselves than we give them credit for. If you are feeling anxious, maybe your emotions are telling you not to spend. On the reverse, if you are feeling confident because you know your actions are in accordance with your budget, you may feel a peace about spending.
Make A Money Map
It can be easy for spending habits to spin out of control or lose you focus on our budget priorities. Using a money map may help you keep all your spending habits in tack. A Money Map gives you a visual look at where all your money goes.
What’s Included In The Money Map?
·Long term savings (401k’s, IRA’s, kids 529’s).
Short and mid-term savings (checking accounts, savings accounts, rental property down payments, vacation fund, emergency fund, car insurance).
Expenses (mortgage/rent, utilities, credit cards).
There may be a lot of accounts but you should be able to see how all of your money flows, that’s the beauty of creating of the Money Map. If you want to see more money maps or just stay on top of financial resources, here are a few interesting ones:
I hope this was helpful. If you have questions or comments, please leave them below. If you know someone who would benefit from this post, please forward it to them. Stay connected as we discuss money, business, self-care, and other adult topics. If you’d like to reach out to us, you may find us by phone at (615) 884-6744 or by email at firstname.lastname@example.org
As Always, we look forward to hearing from you…