5 Ways to Practice Financial Self-care
What does financial self-care mean to you?
Just like personal self-care, financial self-care is simply the act of practicing positive financial habits.
A lot of us have unknowingly adopted poor financial habits which eventually may be taking a toll on our lives thereby affecting our short-term and long-term financial success.
The aim of this article is to help you drop bad financial habits affecting you negatively and embrace healthy financial practices which can in turn help you take charge of your finances again.
Here are six best ways to practice financial self care today.
1) Know your numbers!
To know your numbers is to have an understanding of your cash flow and to keep track of your daily and weekly expenses. What this does for you is that it keeps you in charge of your spending. Essentially you become financially aware and able to make better financial decisions when you know your numbers.
2) Plan and set goals for future spending!
It is always better to plan expenses than to spend on impulse. Financial selfcare requires that you don’t take yourself unawares. You are in the know of your expenses hence you can plan ahead of time. Taking care of your finances implies here that you’re intentional about your money and you control how and when you spend it. This will save you a lot of money issues and bad debt.
3) Keep money aside for emergency situations
As far as life is concerned emergencies are bound to occur. What determines your ability to handle emergencies is your ability to plan ahead and keep funds for contingencies. Financial self care requires that you set aside a budget for emergencies especially because you never know when they may occur. Doing this will keep you in the right frame of mind and reduce financial stress in such times.
4) Practice good financial habits like investing
A lot has been said about savings and investment and if by now you are yet to consider this practice then you are losing out on the many advantages therein. Financial self care requires that you invest to secure your future. With modern technology in today’s world platforms such as www.bizvest.co makes it easy for people to save, invest and earn extra cash while at it.
5) Put money aside for entertainment
The popular saying goes “All work and no play makes Jack a dull boy” comes to mind here. The place of recreation in our lives cannot be overemphasised. Whether it’s a movie timeout, hanging out with friends and family or buying that fashion item you have always wanted, financial self care requires that you literally keep money aside for these things. After all, you don’t want to be caught up working all day and not enjoying the fruit of your labour. Regardless, it’s safe to say that not all your money should go into entertainment rather enough to make you happy and keep you going.
