Enhance Your Financial Wellness with these 3 Mindful Practices

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Managing your finances is hard. Figuring out financial wellness is even more hard. It doesn’t matter if you are digging yourself out credit card debt or trying to save for a new home, finances are hard! We often times see people online glorify their journey, and usually without any setback. Realistically, this is not the case! Becoming financially strong takes more than thousands in the bank account, and can require you to change your mind about money.

What is financial wellness?

Financial wellness is a combination of both mindset, action and determination. It’s about having financial stability, confidence in managing money, and being prepared for both short-term financial challenges and long-term financial goals. It starts with you, and your daily routine! Here are 5 mindful practices to begin integrating in order to enhance your financial wellness.

1. Daily or Weekly Financial Check-In

We all check social media, our email, and our text messages, daily. Why not our budgeting apps? Why not our bank account? It’s important to not obsess over the numbers in your account, however it’s important to review your finances. This could involve checking your bank account balances, reviewing recent transactions, and assessing progress toward your financial goals.

• Did I stick to my budget for the week? If not, where did I overspend?
• What were my major expenses this week? Were there any unexpected expenses?
• How much did I earn this week? Is it consistent with my expectations?
• Was there any credit card purchase I made that I didn’t need? Am I able to return it, find a cheaper option and or know to not spend on it again?

2. Set Financial Intentions

Often times, when we say we want to clear our debt or save up for a new house, or even start a fund for a big life event, we are looking at the end all. “I need X to be able to afford this.” Setting financial intentions allows you to be realistic and to also understand that life gets in the way! There are a lot of financial roadblocks that you may not be expected, and that is okay.

Begin each financial task or decision with a clear intention. Whether it’s saving for a specific goal, paying off debt, or investing, set a mindful intention to guide your actions. Give yourself a soft deadline and always give yourself more time than needed, that way you have some grace! While making these intentions, remember things like rent, credit card bills, medical expenses and other financial occurrences that may shake up the journey.

3. Practicing Gratitude and Contentment

Financial wellness isn’t all about the numbers and the saving, it’s also about the mindset in which you live within. Practicing gratitude is an easy way to begin to recalculate your mind around saving and financial success.

Count Your Blessings: Regularly take time to reflect on what you are grateful for regarding your finances. This could include having a stable income, being able to meet your basic needs, having supportive family or friends, or achieving financial milestones.

Keep a Gratitude Journal: Dedicate a few minutes each day or week to write down things related to your finances that you are thankful for. This practice helps reinforce a positive mindset and shifts your focus towards abundance.

Celebrate Financial Wins: Acknowledge and celebrate your financial achievements, no matter how small they may seem. This could be paying off a debt, sticking to your budget for the month, or reaching a savings goal.

Practice Generosity: Engage in acts of generosity and giving, even if they are small. Sharing your financial resources with others in need can foster a sense of gratitude and fulfillment.

Focus on Non-Material Wealth: Recognize that true wealth extends beyond financial assets. Value relationships, health, personal growth, and experiences as essential components of your overall well-being.