You’ve probably heard the word “self-care” a lot lately. Let’s be honest…2020 has been beyond stressful!
At Maxwell Financial Management, we view self-care as a tool for stress management. What that looks like, however, is a little different for everyone. Maybe your idea of self-care means hitting the gym, making an appointment at the spa, or taking a long walk. But whatever it looks like, self-care is vital to both your physical and your mental health.
One form of self-care that a lot of people may not think about is financial self-care. It may not be as exciting as getting a manicure or reading a good book, but it’s crucial to your well-being. Financial self-care means developing habits that help you to be thoughtful with your money and reach your financial goals.
You might be wondering: how do finances and self-care go hand-in-hand? Studies show that financial stress can lead to mental and physical issues and can have a negative effect on your family and work life. Financial stress can lead to health issues, divorce, depression, anxiety, and more.
We’ve put together a few tips to get you started toward better financial self-care:
- Talk about it.
Financial problems tend to be a taboo subject. Nobody likes to admit when they need help. We encourage you to be open about your financial concerns and struggles. Chances are, you’re not alone! Openly discussing your financial concerns can create a productive dialogue about financial stress and lead you to resources that can help.
- Think long-term.
Rather than solely focusing on the stress of day-to-day finances, we encourage you to think about how you can set yourself up for a better financial future. This may mean sitting down and creating a budget or investing your money for a higher return in the future. Planning your finances now will not only help alleviate current stress; it will also help you avoid greater stress down the road.
- Get involved in your family finances.
Whatever your financial goals are, getting involved in your family finances is the first step toward financial health. Our team at Maxwell Financial Management can help you alleviate financial stress in your life by working together to build a plan for now and for the future.