How Can We Feel Fulfilled Without Being Worried About Our Finances?
Correctly managing your day-to-day personal finances goes far beyond being a technical task; It is also a fundamental aspect of personal development closely linked to our ability to manage time and emotions. Of course, it can be a complicated process for many people who are often overwhelmed by the amount of expenses they have or by the difficulties of reaching a balance between what they spend and what they earn without suffering large amounts of stress.
There are those who end up exhausted due to the psychological exhaustion they undergo in order to control the arrival and departure of money; They live it as if it were impossible to combine good money management and good mental health. And if we also not only want to limit ourselves to making ends meet, but we have also set out to self-actualize through personal development, everything becomes even more difficult. But the truth is that There is a lot we can do to feel fulfilled without always worrying about our finances Let’s look at some ideas and tips that go in that direction.
Setting monthly savings goals is one of the first tips we can follow to stop worrying about our own finances and start living with one less worry.
These monthly savings goals or objectives will serve as a reference to know what our spending level is so far during each month and consequently modulate our expenses.
Savings goals may or may not be combined with other monthly investment goals, with the aim of not conceiving savings as a hole that simply swallows money.
Examples: set monthly savings goals (they may or may not be combined with other monthly investment goals) so as not to see savings as a hole that swallows money.
2. Invest only what we do not need to have in the short term
Putting into practice long-term investment strategies is a good way to make our savings profitable as long as we know what we are doing and we are aware of the risks that this entails.
There are some tips that we should know to successfully carry out any type of investment while taking care of our mental health, such as not investing in very volatile assets and never invest an amount of money that we need in the short or medium term
In addition to that, it is of great importance not to embark on markets and assets that we do not know or to which we are not accustomed, even if a person we trust has done so.
3. Always have a cushion of money saved
Always having a cushion of money saved is of great importance for our peace of mind, since we know that whenever something goes wrong we can count on that amount of money saved. It is advisable to save enough to cover living expenses for the period we estimate we need to regain consistent income streams and that allow us to support ourselves, whether it is a salary, passive income, etc.
It is important to save that money for emergencies or for any eventuality that may happen in our lives, and avoid spending it on anything else that we may be tempted to do.
4. Do not embark on investment plans in which we are not going to get involved
To correctly manage our finances, it is also advisable not to draw up investment plans on topics that do not really interest us personally or that may be too complicated to understand to compensate us for the effort of learning about them.
When we implement a novel investment plan that does not seem complicated to follow because we learn about it spontaneously, we will have a much greater willingness to inform ourselves about the developments that the sector is going through, the trends in that market, etc. But if that area of ​​investment does not interest us, it is more likely that we will only receive polarizing news: either those that are very optimistic, or those that are very negative and alarming. This inertia can end up wearing us down and exhausting us excessively.
5. Relativize with expenses
Some people see self-care or leisure expenses as money wasted or spent irrationally; However, it is also necessary to spend money for ourselves from time to time and treat ourselves to something. Self-realization cannot be a constant work process without obtaining moments of well-being, leisure and relaxation in the short term. AND If we do not accept that fact, we will be prey to a feeling of unjustified guilt
It is not necessary to seek monetary profitability for each money earned or invested, we are human beings and we have well-being needs that we can meet from time to time without any problem.
6. Always have time reserved for ourselves
If we do not set limits on our involvement in the financial world, it will eat up all our free time. We must have a clear schedule that includes moments to disconnect no matter what. AND These moments must be well defined a priori they should not be based on improvisation (in any case, we can decide to add minutes or hours improvisedly, but not move them in the schedule to prioritize other things).
Do you want to delve deeper into financial education?
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My name is Alex Gonzalez Herrero and I am a coach specializing in Financial Education and Investment; I offer my services in person and online.
