Sometimes looking at our finances can be so disheartening. You'll doubt yourself on how you manage your money and ask yourself where you have done wrong repeatedly but still can't find any solutions. Then you'll probably end up telling yourself that you should get another job.
But what we don't know is whether we get another part-time job or a higher paying job, we might still not be able to meet our financial goals. That is because we might be having an unhealthy relationship with our money. You could either be spending your money on things that you don't need or being too money conscious.
While being money conscious is good, the stress that comes with it is not healthy if you are too frugal. You might lose your financial motivation and set yourself up for failure.
Like any good relationship, you need to nurture it and take care of your money. However, changing your financial situation requires more than just a step-by-step guide. It would be best if you change your mindset and behavior as well.
So, here are some tips to get a healthier relationship with your money.
CHANGE YOUR MINDSET
Some of us grew up with a scarcity mindset where we believed that there would never be enough, and there's nothing much we can do about it. As a result, it instilled fear, stress, anxiety, and a scarcity mindset in our minds.
So if you're like this, it would be best to change your mindset and look at things from an abundance mindset.
Having a scarcity mindset will hold you back to seek and try new things due to fear. It stops you also to ask for raise or applying for jobs with more responsibilities.
Start believing that you are enough, and there is enough to go around. By having this kind of mindset, you'll be more motivated and attract more money and opportunities.
BE AWARE OF YOUR FINANCIAL SITUATION
You need to understand your current situation. You need to know if what you have is enough to take care of your basic needs. Understanding where you stand will put you more at ease and think much better how to adjust.
RECOGNIZE YOUR MONEY HABITS
You need to recognize and realize your spending habits. Ask yourself what triggers you to buy things that you don't need and if there is a way to avoid it or minimize it. It would help if you were honest with yourself to figure out how to avoid the extremes.
IDENTIFY WHAT MATTERS TO YOU
Take a moment to ask yourself what matters to you. What do you want to achieve? What do you want to buy? Is it essential to purchase that item?
MAKE ATTAINABLE GOALS
Take time to set your goals, but make sure it is attainable. Also, be specific with how much it will take to achieve each goal. By setting up your goals, you know where you will spend your money.
FOLLOW A BUDGET
Creating a budget will let you know where you stand and where your money is going. It will give you control over your money, keeps you focused on your financial goals, and helps you organize your spending and saving.
AVOID COMPARING YOURSELF
Stop comparing yourself with other people. It doesn't matter if they have reached their goals faster than you because it is not a race. The only competition is the person you see in the mirror.
DON'T BE AFRAID TO TALK ABOUT YOUR MONEY PROBLEMS
Accept that you cannot do it alone. Don't be afraid to ask your friends for some tips or even seek guidance. Also, opening up about the things that you're struggling with will help you control your emotions and address some of the anxieties you have around money, which is good for your mental health.
DON'T FORGET TO ENJOY
You need to enjoy and treat yourself from time to time. You only have one life. If you focus too much on saving money, you'll end up losing your motivation. However, keep in mind not to overspend.