Whether you are buying a new home or organising your life so you have more money and more free time, financial mindfulness can help. Financial mindfulness means becoming more aware of your financial habits and modifying them to bring you more happiness and greater fulfilment in life. The practice is not hard to learn or implement.
The Benefits of Financial Mindfulness
A life without financial mindfulness is often stressful and inefficient. In short, you spend your money on things you don’t need which has a knock on effect. It can create stress in your life and put a strain on your relationships. With financial mindfulness you will experience better spending habits, lower stress levels, and an improvement in your relationships.
Better Spending
Maybe you think that your spending habits are fine, you always have enough in the bank to buy what you want, and make smart home loan choices with multichoice.com.au. But how many of those purchases do you really need, and couldn’t that money be put to use elsewhere, either in a savings account or by paying off some debt? Financial mindfulness trains you to question every purchase you make.
Lower Stress
If money stresses you out then financial mindfulness is the answer. The reality is that money can stress us so easily, so it makes sense to have a practice like financial mindfulness to take the burden off our shoulders. This practice trains you to plan and budget better so that you no longer need to worry about how much money you have available.
Improved Relationships
One the top reasons for relationship dissatisfaction is down to money. Money can cause us some individual stress but often that stress is also transferred into our relationships. It can cause arguments and friction. Don’t let this happen, it isn’t worth it. Plan your finances using financial mindfulness and your new home life will become a blissful utopia.
How to Practice Financial Mindfulness
You have now found out about financial mindfulness and about some of the pros of practicing it, in this final section you will find out how to practice financial mindfulness. It involves a combination of meditation, discipline and awareness to create a financial life situation that is comfortable and stress free.
Meditate
The first step to discovering financial freedom through financial mindfulness practice is to learn mindfulness meditation. Tiu might have heard a lot about this recently, but how easy it is to get started. The answer is very easy. Start by bringing your attention into the present moment and asking yourself it feels to be you right now. Allow yourself to feel stress and pain points.
Stop Impulse Spending
Often it’s our unfettered emotions that cause us to impulse buy. Perhaps we feel stressed or dissatisfied and buying something online perks us up a little. That’s because our brain gets a small hit of dopamine, but it doesn’t last. Use your mindfulness meditation practice to intervene and ask yourself whether you want or need an item. Often the answer is neither.
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