Use mindfulness to take your finances to the next level in the new year

The term mindfulness refers to the ability to be fully in the present moment. If you approach money management in a mindful state, you’ll make better financial decisions because you’ll be more aware of your current financial situation, your goals, and how you’re saving and spending. This can protect you from making the kind of reactive or impulsive decisions that can wreak havoc on your personal finances. Here are some ways you can incorporate common mindfulness strategies to help you level up in the New Year:

Explore your feelings about money

Our relationship and history with money have a huge impact on why we spend and how we spend. This may seem like a scary exercise, but exploring your relationship with money will help you recognize the ways in which you may or may not be holding yourself back from manifesting financial success. Take purposeful action:

1) Take a Personality Quiz About Money like this to help identify your beliefs about money.

2) Take a journal and start exploring your historical relationship with money. This will help you identify the beliefs that are holding you back so that you can make a conscious decision to improve or change them.

Increase awareness about your spending

Strive to be more conscious of your spending. Doing this will help you make proactive decisions about future spending so that they align with your goals. Take purposeful action:

1) Start with your financial goals and aspirations. I encourage you to write them or create a vision board. Keep them in a place where you can see them every day.

2) Make a list of your expenses. I suggest starting with pencil and paper, then migrating to a spreadsheet either app Review and analyze them based on how you want to spend and save so they align with your financial vision.

3) Incorporate this knowledge and awareness into your current money decisions.

Embrace the lessons of your past to improve your future

Thinking about our past mistakes can be discouraging, but our past contains the same lessons that we must learn from to improve our lives. Instead of thinking of your past failures as confirmation of how much you suck at money, flip the switch. Failures are our best teachers. Greatness only comes from failure, so take advantage of the lessons from your past failures to unlock an amazing financial future! Take purposeful action:

1) Make a list of your biggest financial mistakes and money habits that make you cringe.

2) Explore why you made those mistakes or engaged in shame-inducing behavior, also known as your triggers.

3) Write how you will make a different decision when you are shot in the future. Writing this down will help implant an interruption in your thinking so that the next time you trigger yourself, stay present and consciously make a better decision.

4) Whenever you feel overwhelmed by a setback or the busyness of life, stop and take just 5 minutes to sit quietly. Start with deep breaths, 4 seconds in and 4 seconds out or try meditating with apps how are you. This will help you recover and tune in to the present moment so you can keep moving forward.

just start again

These are possibly the three most important words in mindfulness mediation. In this new year, as life gets busy and you seek a fresh start on your financial goals, don’t be discouraged by your past or obsessed with the future. Instead, consider implementing these mindfulness strategies wherever you are in the process and start over.

Cheers to a happy, prosperous and mindful new year!

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