LET’S GET OUT OF THAT “TREAT YOUR SELF” MINDSET!
Spending money mindlessly can be a huge contributor to financial stress and most of the time we don’t really realize it. It is so easy to swipe that credit card at a department store. Or once again make an Amazon purchase after you come back after a long stressful day. What are we thinking at that moment? “I deserve this.” “This is my self-care”. “I will make it up later…” These are little lies that we tell ourselves when we are wanting to actually take care of yourself.
Additionally, the media likes to portray self care as an expensive, luxurious endeavor. Self care doesn’t have to be expensive, but it does need to be thoughtful. Make sure you are taking care of yourself in all aspects of your life, including your finances. Financial wellness is just as important as physical and mental wellness. Learn how to to achieve financial health, the new way to practice self-care and ways you can be mindful about your spending.
Shifting Out Of The “Treat Yourself” Mindset
Oh believe me, as a recovering shopaholic, I know better than anyone that the shopping rush is the best feeling. It is also so easy to be influenced by all the exciting products out there. You come across that perfect product that will solve all your problems, although you didn’t really know you needed it in the first place…
For some people, shopping becomes a comfort zone, a refuge after working a very high-stress, demanding job. Or if you are going through a depression, treating yourself to luxurious goods seems like the answer to find happiness or a little break from this difficult world. (I know because I was there…)
The issue with this is that spending mindlessly can only lead to more depression, more stress, and a feeling of a bottomless pit with no way out. My apologies for being so dramatic but this is how I felt when I got into debt. This debt stemmed from me wanting to “treat myself” after having a difficult time.
Reflecting On Your Spending.
Honestly, it’s not easy to suddenly realize that you are spending mindlessly and just turn off that spending switch. At times, these spending habits are very much ingrained in our brain and it is so difficult to get out of them. So how do you stop it?
A good way to get started is to reflect on how spending has made you feel. Asking yourself the following questions can help you get on the right path:
- Is everything I have purchased really useful and necessary? Am I actively using all the items I bought?
- How did I feel after making the purchases? Did I feel guilty or was it a good choice?
- How is my spending making me feel? Do I feel shame or do I feel happy about the items I bought?
How your financial habits make you feel is a very personal feeling. It is something only you can discover about yourself and no one else can tell you what to do. It depends on you if you will make the choice to practice financial restraint. There are other ways to practice self care that don’t involve maxing out your credit card.
How To Be Mindful About Your Spending
When it comes to spending money, it’s important to be mindful of your habits and make sure you’re staying on track with your finances. Here are a few tips to help you stay mindful of your spending and keep your money mindset in check:
Know Your Financial Goals
It’s important to know your financial goals in order to stay focused on your spending. Whether you’re saving for an emergency fund, a new car, or a vacation, setting goals will help you stay on track. Keep in mind that your goals may change over time, so it’s important to revisit them regularly. Learn how to stick to your goals to help you stay focused.
Creating a savings plan is a great way to help you reach your financial goals. Decide how much you want to save each month, and then automatically transfer that amount into your savings account. This will help you make headway on your goals without having to think about it.
It’s also important to have the right mindset when it comes to saving money. Believe in yourself and your ability to save. Set realistic goals that you can achievable. And don’t be afraid to make sacrifices in order to reach your goals.
Saving money doesn’t have to be difficult. By knowing your goals and creating a plan, you can make it happen. Stay focused and stay on track, and you’ll be well on your way to reaching your financial dreams.
Keep Track Of Your Spending
If you want to get a handle on your spending, it’s important to keep track of where your money is going each month. This can be done by using a budget or simply by tracking your spending in your head. Either way, knowing where your money is going is key to being mindful of your spending. Learn how to budget effectively.
By keeping track of your spending, you can identify areas where you may be able to cut back. This can free up money to save or to spend on other things. Tracking your spending can also help you to spot any potential problem areas, such as overspending in certain categories.
If you’re not already tracking your spending, it’s a good idea to start. You may be surprised at where your money goes each month!
Avoid Impulse Purchases
Making financial decisions can be tough, especially when it comes to resisting impulse purchases. It can be easy to impulse buy something when it’s on sale or you see it and it’s really cute, but those purchases can quickly add up and throw off your budget.
If you’re considering making a purchase, take a moment to ask yourself if it’s something you really need or if you can wait. It can be helpful to implement the “7-Day Rule” which means waiting 7 days to make a purchase in order to think about whether or not you really want it.
Practicing self-control when it comes to financial decisions can be difficult, but it’s worth it in the long run. By being mindful of your purchases, you can stay on budget and avoid impulse buying.
Use Cash Instead Of Credit
This is not my favorite tip as I love reaping the benefits of credit card points, rewards, and cashback. However, if you are a person that likes to swipe that credit card and will max it out as soon as you have a credit limit, possibly using a credit card is not the best option for you.
When you use cash, you’re more likely to be aware of what you’re spending since you can physically see the money leaving your hands. Credit cards, on the other hand, can be easy to swipe without thinking. This is a very personal choice but it can be a way for you to be more mindful of your spending.
Set Your Spending Boundaries
At times, peer pressure can be a big contributor to mindless spending. Your friends might be pushing you to go out and drink or have dinner at expensive restaurants. Or, you may be the one that really wants to go out there and have fun with them. However, when these habits or trips out get too expensive, you are only contributing to your financial stress.
If you budget for these nights out and it is something you really enjoy doing, then by all means go out and have fun. But you really have to put everything on a balance. How much are you spending on nights out versus what you budgeted? These things get expensive very quick. Alternatively, sometimes you are pushed into this and if that is the case, it is really important to speak to your friends, let them know that you are not feeling up to a night out or suggest a different type of less expensive entertainment.
Getting Out Of Your Financial Pit
Chances are you came across this post because you found yourself in a financial pit of despair. Maybe you have landed yourself in debt and don’t know how to get out. Shifting your financial mindset and climbing out of debt is not an easy task but it is completely doable! I promise you even if it seems impossible now, it can be something that you achieve. Not too long ago I was down on myself for having racked up $20,000 in debt just from dumb purchases. If I was able to climb out, so can you.
8 Steps To Financial Wellness:
Follow these steps to decrease your spending, start saving and improve your financial situation:
- Start with a Debt Reality Check. Write down all the debt that you have and as difficult as it may be to face it, it is an important step. You can do this on a spreadsheet or a notebook.
- Write down your financial goals and be really intentional about them!
- Create a plan to be more mindful about your spending. This can include starting a budget or jotting down ideas to stop buying things that won’t bring you joy.
- Create a savings plan. Know where you are placing your money for safekeeping to avoid overspending.
- Find things in your home that you don’t need and start selling them online. This won’t bring in a lot of income but it helps you declutter your spaces and get a little bit of money for things that you may never even use. This also gives you an opportunity to start fresh!
- Check in with your financial goals. If you already did all the legwork and have a vision of what you want your financial life to look like, make sure that you are checking in.
- Reevaluate your current life situation. Are you making enough money at your current job? Is it time to start searching for another job or possibly create an additional income stream? You can read about my personal side hustle journey.
- Get creative! Find other ways to take care of yourself that don’t involve racking up credit card debt.
On Your Way To Financial Self Care
Moving forward, every time you want to buy that shiny new product that will solve your problems, think about it. Will it actually solve your problem or put a band aid on a different problem? You got this! You are totally capable of self-restraint and you can shift your whole money mindset around. And whatever you do, be careful with all the financial information you hear out there. Everyone’s financial journey is different and personal. What may work for you, may not work for others so really think about what you are doing before jumping on the next big savings trend…
And if you are in the market for some great money mindset podcasts, I highly recommend AllTheHacks and ErikaTaughtMe. The hosts of these podcasts bring experts in their fields to talk on the show and a lot of these episodes are focused around optimizing your money. Listening to these has definitely elevated my perspective on money.
Get out there and conquer your wallet! You totally got this even if you think you don’t. Please leave a comment if you have any questions about the information on this post and reach out. I love to hear from ya’ll!
