A study conducted by CreditWise in February found that over 73% of Americans surveyed rank finances as their top cause of stress. In an article written by Levi Leidy from gobankingrates.com, Leidy discusses ways in which we can implement financial self-care practices into our daily lives to reduce this stress and increase our overall quality of life. Leidy lists seven ways to practice financial self-care:
Get Clear on Your Financial Situation: figure out what you are working with and how you can improve
Set Financial Goals: whether this is reaching a savings goal amount or paying off debt, goals keep us accountable
Prioritize Your Debt: the longer you take to pay it, the more you will owe. Make this of utmost importance!
Make a Budget: this will help you stay organized and reduce frivolous spending
Check Your Bank Account Regularly: sometimes we forget about that $8 latte or $15 salad we purchased; it is beneficial to always know where you stand financially to make sure you have enough for bills and upcoming purchases.
Don’t Beat Yourself Up If You Overspend: Life is short after all, and sometimes we need a nice dinner out or that extravagant pair of shoes. Always remember you can “do better the next time around.”
For more information on financial self-care practices, visit 7 Ways to Practice Financial Self-Care.
Written By: Your Financially Fit Employees Team
ReplyDeleteYou might want to start to show around your personal finances for variety of reasons. you would possibly have bad credit and are looking to enhance your credit score for all the advantages good credit provides. you would possibly be facing the more serious side effects of poorly managed personal finances like bankruptcy, foreclosure, seizures, evictions or other painful hardships.
self development