How to Practise Money Mindfulness

How to Practice Money Mindfulness 

 Mindfullness – a new word in our daily vocabulary but one that looks like it’s here to stay! If mindfulness as a way of like means living in the present and considering the decisions you make without panic or stress, then there’s one area of our daily lives that can benefit from it – our finances. So, how to practise money mindfulness?

 Particularly during times of stress, money worries can cause us terrible anxiety; however perhaps the way we’re dealing with money needs to change. My practising money mindfulness we can start to take back control of our finances. Here are some of our top tips for dealing with your money mindfully; 

  • Start thinking about your finances in positive terms. Read articles and gather positive advice on how to improve your financial situation.  
  • Positive visualisation – look at some of your existing thoughts about money. How was money handled by your parents/family when you were a child. Much of our negative thinking about situations stems from negative childhood beliefs. These patterns can be changed through visualisation and starting to change your beliefs from negative to positive ones. 
  • Have clear out, go through your bank statements and mark any payments you’re making that seem unnecessary. Rethink the direct debits you have set up and ask yourself if they’re beneficial? For example, are you using that £7.99 monthly yoga app? 
  • Set yourself goals – where do you want to see your finances in a year from now? Are you on track? If not, how can you get on back on track? Ask for financial advice if necessary (and take it!) 

 

Most importantly – the whole point of money mindfulness is to reduce stress when it comes to dealing with or handling your finances. If you feel your finances are out of control and you need help with your budgeting click here for more advice.