Rent, insurance, utilities, credit card, student loans, car payment, phone bill, internet bill, cable bill, Netflix, Audible, Spotify, Amazon…not to mention groceries, gas, social life, family needs.
Every month we have our financial responsibilities. Every month we are reminded of the debt, the interest rates, and the balances.
It is no doubt money causes us a great deal of stress. So much so that it could affect our relationships and our health. This includes self-discipline.
Day 7 of Self-Discipline, improving your financial health.
Handling our money requires a lot from our willpower muscles. There are so many temptations, but this is one of the most important times to think about how your decisions will affect your future. Whether it’s the near or far future. We may have some buying power this month but just because the money is there doesn’t mean it needs to be spent. Do we want to spend it? Probably. There’s always that little knick-knack at the store that stares you in the face saying, “buy me!” Just say no!
I’m not saying you shouldn’t buy something just for the fun of it. There’s something to be said about a guilty pleasure of yours that you buy for your happiness in that moment, but we do need to be careful. Those extra purchases start to add up.
This has been a huge adulting step for me, being in charge of all of my finances. I recently started getting paid monthly…not my ideal situation. I get paid and my bank account is super happy and then within a couple of days I pay all my bills and realize… that’s all I have left for the month? It’s been an adjustment, to say the least.
I have found that this keeps my self-discipline in check. I have to be very cautious with my spending at the beginning of the month so I can eat by the end the end of the month. This forces me to look ahead, but we should always be looking ahead.
It’s tax season! What are your plans for your tax return? Blow through it on a fancy night out? If you have a nice savings already maybe you deserve that. If you don’t have a savings account, maybe you could start one? Do you a trip coming up in a couple of months maybe it’s time to buy that plane ticket?
As you begin to plan out your finances and your savings plan you will feel so much more confident in the purchases you want to make and the ones you have to. Improving your financial health will, in turn, improve your mental health.
We worry way too much. Not being able to afford things we want is frustrating but that actual act of worrying or stressing out about these things will make it that much more difficult to achieve our financial goals.
Do your research. Make a plan. Write it down. Make the choice to be financially disciplined. Know your bank account, your loans, your credit score and keep track it all. Your goals, your dreams, and your future depend on it.