Hello SOTGC community,
Think mindfulness and financial well-being are connected? Sounds bizarre? How can your mental state be possibly connected to your financial stability and well-being? When I sat down to actually analyze the depth of this question and sort out the thoughts that had been constantly bickering me I came to the conclusion that yes indeed, somewhere, somehow our mental perceptions determine our financial well-being.
Just as you make it a point to inculcate mindfulness meditation in your daily routine, eat healthy and exercise daily, you would be doing yourself a great favor if you give equal importance to the financial component of your life at the same time.
The role of money in my life
When I truly started to understand that “the love of money” and not “money” itself is the root of all evils, I realized that it is all in your hands how you manage the financial component of your life. When I got a holistic view of how the role of money is multi-faceted, impacting the personal, emotional, physical and psychological well-being of an individual I started to pay closer attention to managing it. It’s all about how deeply connected you are with your money. Personally, since I value money and understand the hard work that is needed to earn it I am quite thoughtful and careful while spending it. Mindfulness has indeed introduced me to new horizons and I tend to spend a generally happier day and life.
DO NOT dwell on your financial past
Being consciously aware of your thoughts fills you with positivity and helps you take control of your thoughts. Detoxify your thoughts by practicing mindful meditation and make it a habit to let go of things. With every rising sun is a new beginning and you should welcome each day with an all new vision in mind.
No matter how grueling or taxing your financial past must have been, always focus on the big picture and take steps to avoid debt or crawl out of it if you are under undue pressure of borrowed money and loans. With the economically distressed times it is hard to plan your day and career goals while ignoring the financial component of your life. Somehow your life’s planning revolves around your financial stability. From college life through graduation and then on to decisions like marriage and extending your family it’s all about how well you manage it financially. Since the time I have started to let go of my past and started to think about the future and how to make it brighter I have started working practically towards achieving it.
What is financial self-care?
Financial self-care is accepting responsibility for the financial components of your life as defined by Reeta Wolfsohns. Just like you personally care about your looks and experiment with varying skin care and physical fitness techniques, financial care is just as important. I continuously tell myself that I am the one who is wholly and solely responsible for my money and nobody cares about my money matters as it is me who is going to be affected by it ultimately. Being financially healthy has made me productive and I am at peace with myself. The four components that make up financial self-care are:
- Acknowledgement: of the presence of the financial component of your life.
- Thorough Understanding: of the financial element of your life
- Learning: how to take control and be able to handle the financial component of your life.
- Generating/Upholding your financial wellness.
A big part of financial self-care is to nurture, not only the financial component of your life, but also yourself and your relationship with your money.
Non-judgmental acceptance of your financial position
On the other side of the coin, indulging in too much criticism of your financial decisions taken in the past, not feeling very confident of your present financial condition and money management knowledge and haranguing yourself unnecessarily for your inability to plan well into the future really tarnish your financial wellness . Meditation and mindfulness prevent these self-destructive thoughts from invading your mind and improves self-awareness.
If you want to feel positive about your financial future accept it without judgments. Nothing is permanent. And then you commit yourself to secure a credible financial future.
How does practicing mindfulness actually help?
Due to the vital role that meditation plays in my life, things that formerly seemed to be inconsequential have now started to be of much more importance than before. Finding peace and composure within myself makes me refrain from impulsive spending, and ultimately when I don’t spend in a flow of emotions and don’t assign too much importance to worldly and materialistic things, I am automatically in peace.
Mindfulness is the purest way to acknowledge the beauty of the present moment and paying close attention to the realities and intricacies of the present through focused awareness. Being mindful of your surroundings makes every moment more meaningful, richer and rewarding. I have started to accept my thought processes without being judgmental of them. Not being embarrassed by what you think is the first step towards living a more fulfilling life.