Slay the Stress! 5 Ways to Improve Your Financial Mental Health
I can’t believe we started Money Vikings over 6 years ago! One of the biggest reasons we started The Money Vikings was to discover and deliver the tools to live a life of True Wealth. This means a life of health, family and well managed finances. And well managed finances means low stress!
Let’s talk about money, but not just the numbers kind. Financial stress can be a major drag on your mental wellbeing. Lately, your bank account statements have been leaving you feeling more anxious than excited? You’re not alone. The good news is, there are ways to address your financial worries and cultivate a healthier relationship with money. So, grab a cup of tea (budget-friendly, of course!), and let’s dive into 5 ways to boost your financial mental health:
1. Awareness is Key: Track Your Spending Without Shame
The first step to conquering any fear is facing it. The same goes for your finances. Acknowledge your spending habits,both good and bad. There are free budgeting apps and spreadsheets galore to help you track every penny coming in and going out. Don’t be discouraged by past splurges, use this information to empower yourself and make informed choices moving forward.
2. Challenge Your Money Beliefs: Are They Holding You Back?
We all have ingrained beliefs about money, some helpful, some not so much. Maybe you believe “money doesn’t grow on trees” and live in constant scarcity mode. Or perhaps you think “rich people are greedy.” Challenge these limiting beliefs!Read books on personal finance, listen to inspiring podcasts, and surround yourself with financially savvy friends. Shift your mindset to one of abundance and possibility.
3. Budgeting Doesn’t Have to Be Boring: Find a System You Love
Gone are the days of dry spreadsheets filled with boring numbers! Budgeting can be fun, or at least, manageable. There are budgeting apps with bright colors and gamified features to make saving feel like a game. Find a system that works for you, whether it’s a digital tool, a colorful planner, or even the trusty envelope method. Consistency is key, so pick a system you’ll enjoy using.
4. Celebrate Small Wins: Acknowledge Your Progress
Reaching your financial goals is a marathon, not a sprint. Don’t wait until you’re a millionaire to celebrate! Acknowledge and reward yourself for small victories. Paid off a credit card bill? Treat yourself to a cheap movie night. Saved your first $100? Buy yourself a latte (guilt-free!). Celebrating your progress keeps you motivated and reinforces positive financial behaviors.
5. Seek Help When Needed: You Don’t Have to Go It Alone
Sometimes, you need a professional cheerleader. There are financial therapists who can help you develop healthy money habits and address the emotional aspects of your finances. Don’t be afraid to seek guidance from a credit counselor or financial advisor if you need extra support. Remember, there’s no shame in asking for help!
By incorporating these tips, you can cultivate a healthier relationship with money and reduce the financial burden on your mind. Remember, financial wellness is a journey, so be patient with yourself and celebrate every step along the way. Now go forth and conquer your financial goals with a calmer and clearer mind!