Love is in the air! Maybe not the romantic kind of love but the self care kind of love and the TLC kind of love you should feel towards your finances. If you’ve been neglecting your finances a little or just need a quick refresh, here are the best ways to show your finances some love.
AUTOMATE BILLS AND DEBT PAYMENTS
One easy way to show your finances some love is to set up automatic payments for your bills and debt payments. This helps you avoid unnecessary late fees. Late fees are literally the worst. Who likes spending money on nothing? Not me. Certainly not you. Show your money some love by setting up these payments and never get hit with a fee again.
LIVE ON A BUDGET
You’ve probably heard the advice that you need to live on a budget before. For good reason. Living on a budget will help you reach your financial goals faster and will allow you to use your money most efficiency, in line with your financial goals.
Another way to show your money some love is by taking time to feel gratitude for the money you have. Each time you are paid, take a moment to pause and be thankful for what you have received. Where focus goes energy flows. Practicing gratitude will help you be more content with what you have, rather than constantly longing for the latest newest thing, and this will actually literally save you money.
TRACK YOUR SPENDING
Tracking your spending is one of the most loving acts you can give your money. Check your financial statements for errors or bad habits you might not even realize you’ve fallen into. You might notice patterns, like stopping at certain stores too often or that you are overspending on groceries or dining out.
CHECK YOUR CREDIT SCORE ANNUALLY
Checking your credit score only takes a few minutes and is an important aspect of being financially healthy. It’s a good way to catch fraud or even a missed bill. Many banks offer credit score monitoring through their online banking platform, but if yours doesn’t, you can access your credit score for free here with Experian.
PAY YOURSELF FIRST (i.e. SAVE)
Save more money by paying yourself first. When you get paid, be sure to set aside a percentage and apply it to a savings or investment account right away. Many people wait until the end of the month to see if there is any money left to put towards savings. But not you! You show your money the TLC it needs by paying yourself first. You’ll be surprised at how quickly your savings will grow using this simple method.
PAY OFF DEBT
Paying off debt is one of the best things you can do for your finances. Debt not only earns interest, but it reduces the amount of money you have each month to spend on the things you actually care about and love. Download Paidback (it’s free) to pay off your debt 6x faster.
It’s easy to get side tracked from your financial goals when you are dealing with the chaos of life. But sitting down and taking the time to truly define your financial goals will help you make sure you are spending money on the things you truly value.
CUT OR SWAP EXPENSES
An easy way to give your finances a little TLC is to cut or swap unnecessary expenses. For example, you might currently pay hundreds of dollars each month for cable. Cut the cable and swap it for 1-2 inexpensive subscription services.
DELAY TEMPORARY WANTS
Show your money some love with your brain by thinking bigger about your financial goals. Practice delaying purchasing temporary wants in exchange for sticking to your bigger financial goals. When you are tempted to buy something on a whim, force yourself to wait at least 24 hours to see if you still want it.
TAKE ACTION NOW
One excellent way to show your finances some love is to stop delaying the actions you know you should take. A lot of the information provided above is probably stuff you’ve heard before, but haven’t tried. Or maybe you’ve tried and given up too soon. Take action– start with just one thing on this list and try it. Give your money the TLC it deserves and it will give back to you 10 times over.
Showing your finances love is really just self-care, and quite honestly, one of the highest forms of self care. Self care is cool. So go get after it!
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