Most of us have heard of personal self-care and likely even try to practice it frequently. But what about financial self-care? We have some tips that only take 10 minutes a day and will get you on your way to a better, healthier financial life.
What is Financial Self-Care?
Think of financial self-care as the actions you take in pursuit of financial wellness. It's about taking the time to build healthy habits the set up your financial future. With just 10 minutes a day of financial self-care, you could find ways to reduce how much you spend every month, put more toward retirement, or reduce your risk of financial fraud.
Here are five 10-minute daily financial self-care practices
Check the balance on a credit card. You don't need to give it a line-by-line review, but in 10 minutes look for any unexpected charges.
Pay yourself. Conceptualize an amount you can put away every day, maybe that's a dollar or two. Then, set up an automatic payment that moves that small amount of money monthly from savings or checking into an emergency savings account. That daily allowance to yourself will really add up throughout the months and years.
Examine subscriptions. Choose on of your subscriptions to review. First, decide if you use the video, music, book or delivery service. Then ask if it's worth the monthly fee. Finally, unsubscribe or decide to keep it.
Journal about your financial life. Note a good financial tip you read. Think about a want vs a need. Write where you want to be in 6 months, a year or five years from now. Set and/or journal about reaching a goal. Taking ten minutes a day to think about your financial life will help keep you focused, on track and increase your wellness.
Celebrate yourself. Part of financial self-care involves celebrating your victories as well. Treat yourself once you reach a goal or milestone that you journaled about.
Boost Your Financial Wellness
More Financial Wellness Matters blogs on topics ranging from financial self-care to protecting your financial health are coming soon. Twice a month, we’ll dig a bit deeper into the relationship between financial health and overall well-being, shedding light on the behaviors and beliefs that drive money relationships. With simple tips and proven insights, we hope to enhance your financial well-being and help you live a healthier, happier life.