Spring Into Summer With Financial Wellness
Apr 15, 2021
A year ago, I wouldn’t have guessed that we would be impacted by the pandemic in such a dramatic way. We have been challenged in ways we couldn’t imagine and a lot of growth has come alongside this journey. So where do we go from here? Here are 3 tips you can use to make sure you can practice financial wellness going into the next few months.
- Raise Financial Awareness – Whether you have money on your mind all the time or it’s an afterthought, I want to invite you to simply be aware of your spending. In general, spending during lockdown has decreased because we’re not grabbing grub at our favorite spots and travel has been almost non-existent. If you have kids, all the extra’s have been put on hold. As stimulus checks flow in and karate classes and your favorite brewery opens up, do a pause before you swipe. Trust me, I want to eat out and not do the dishes for the millionth time and I’m ready to jet set but spending blindly can be quickly followed by guilt. To stay aware of your spending, pause before you swipe!
- Create A Spending Plan - Set out a budget for what you can spend over the next few months. Write a quick list of events you’ll be attending such as birthday dinners, weddings, family vacations, etc. to come up with an estimate of what you’ll spend over 3-4 months. I would recommend opening a separate bank account to hold this spending cash so you don’t overspend. We often underestimate how much we spend because we aren’t counting all the extra’s so give yourself wiggle room to set yourself up for success!
- Talk About It- This pandemic has hit different sectors of the economy at different paces. If you feel uncomfortable about stretching your dollars on a weekend trip with some friends or a group dinner, talk about it. If you haven’t been financially affected but sense your friends / family have, talk about it before planning something together. The silence barrier that’s been put up my society is so out of style, let’s be advocates for breaking it!
Remember that financial wellness is part of your overall health. By taking care of your finances, you will feel less stress and be more confident when making decisions around money!