By Matata Mercy
When we talk about finances and the ability to make money and keep it, most people will hide and even try to hide away from the truth about their finances.
They look at the talk about finances as something that is a taboo or something that should be avoided at all times.
But the truth of the matter is that when you are financially mindful, you will most likely be able to avoid the financial problems that you can easily end up running into in the long run.
When you are able to look at your finances with a critical eye by focusing on your spending habits and how you do feel about money itself, then you will be able to have a better relationship with your finances in the long run.
Today i will give you some of the tips on how you can become financially mindful and this will give you the power to control your finances.
1. Take a look at your income with clear thoughts in your mind
Most times, people look at their paychecks with eyes that are telling them that something is missing within their paychecks.
Many people out there would wish that they were earning far more than they are actually earning today.
When they look at their paychecks, very many people get worried about how much money they do not have than the amount they actually do have in their possesion.
If you can start focusing more on how much money you do have in your possession than how much you do not have in your hands, you will be able to develop a better relationship with your finances in the long run.
According to Dave Ramsey, you must gain control over your money or else the lack of it will forever control you.
2. Analyse what you have been avoiding in your finances
Sometimes people try to avoid looking in the eye the problems that they are facing and try to hide behind something that can shield them from those issues.
If you want to become financial mindful, you will need to look at the problem that you are facing financially so that you are able to understand how big or small that problem is and then you can move on to find solutions.
For example, you might be afraid to look at your empty bank account or you are fearing to look at your credit scores. But truth be told, avoiding your financial problems will not solve them but they will instead worsen them.
When you are able to confront your financial problems head on, you will be able to take control of your finances back into your hands.
3. Work on your financial self-esteem
Now that you know the problem that you do have with your finances, you now have to find solutions for these problems. In the beginning you will need to set goals that can help you reach where you want to be financially.
When setting goals you should set goals that are achievable in the short term. Setting big goals is exactly like setting New year resolutions that are impossible to achieve.
So if you are going to set financial goals, you will need to find out the kind of goals that you can achieve in the short term that will motivate you and give you courage to keep going and moving towards your financial dreams.
For example, if you are planning to start saving part of your monthly income, then you need to start may be by saving just 5 percent of it and not more.
Doing so will build your momentum and courage and in the long run you will develop the habit of saving each and every month. At that point after the saving culture has become a habit in your life, then you can increase your savings to a bigger percentage gradually.
4. Take a regular look at your belongings
You should make it a habit to always check out what you do have and what you do not have that is a necessity.
If you are aware of what you do have and what you do not have, you will be able to develop the intuiton of becoming financially mindful and you will know what to buy and what not to buy.
Some people buy things simply because they are not aware of what they do have in their possesion or do not have.
So you will find that they end up buying the same item several times. Checking your wardrobe and other rooms in your house will give you an idea of what you have and what you do not have. This will stop you from impulse spending in the long run.
5. Think before you spend
You should ensure that you are in the right mindset when you are planning to buy something.
If you are approaching your spending with the right mindset and are thinking about what the money you are spending each and everyday on buying beer would amount to if you saved it, you will stop drinking out.
That money could help you start your own business or even buy you a new house if it added up for about a year. When you become financially mindful, you will have more choices.
When we talk about finances and the ability to make money and keep it, most people will hide and even try to hide away from the truth about their finances.
They look at the talk about finances as something that is a taboo or something that should be avoided at all times.
But the truth of the matter is that when you are financially mindful, you will most likely be able to avoid the financial problems that you can easily end up running into in the long run.
When you are able to look at your finances with a critical eye by focusing on your spending habits and how you do feel about money itself, then you will be able to have a better relationship with your finances in the long run.
Today i will give you some of the tips on how you can become financially mindful and this will give you the power to control your finances.
1. Take a look at your income with clear thoughts in your mind
Most times, people look at their paychecks with eyes that are telling them that something is missing within their paychecks.
Many people out there would wish that they were earning far more than they are actually earning today.
When they look at their paychecks, very many people get worried about how much money they do not have than the amount they actually do have in their possesion.
If you can start focusing more on how much money you do have in your possession than how much you do not have in your hands, you will be able to develop a better relationship with your finances in the long run.
According to Dave Ramsey, you must gain control over your money or else the lack of it will forever control you.
2. Analyse what you have been avoiding in your finances
Sometimes people try to avoid looking in the eye the problems that they are facing and try to hide behind something that can shield them from those issues.
If you want to become financial mindful, you will need to look at the problem that you are facing financially so that you are able to understand how big or small that problem is and then you can move on to find solutions.
For example, you might be afraid to look at your empty bank account or you are fearing to look at your credit scores. But truth be told, avoiding your financial problems will not solve them but they will instead worsen them.
When you are able to confront your financial problems head on, you will be able to take control of your finances back into your hands.
3. Work on your financial self-esteem
Now that you know the problem that you do have with your finances, you now have to find solutions for these problems. In the beginning you will need to set goals that can help you reach where you want to be financially.
When setting goals you should set goals that are achievable in the short term. Setting big goals is exactly like setting New year resolutions that are impossible to achieve.
So if you are going to set financial goals, you will need to find out the kind of goals that you can achieve in the short term that will motivate you and give you courage to keep going and moving towards your financial dreams.
For example, if you are planning to start saving part of your monthly income, then you need to start may be by saving just 5 percent of it and not more.
Doing so will build your momentum and courage and in the long run you will develop the habit of saving each and every month. At that point after the saving culture has become a habit in your life, then you can increase your savings to a bigger percentage gradually.
4. Take a regular look at your belongings
You should make it a habit to always check out what you do have and what you do not have that is a necessity.
If you are aware of what you do have and what you do not have, you will be able to develop the intuiton of becoming financially mindful and you will know what to buy and what not to buy.
Some people buy things simply because they are not aware of what they do have in their possesion or do not have.
So you will find that they end up buying the same item several times. Checking your wardrobe and other rooms in your house will give you an idea of what you have and what you do not have. This will stop you from impulse spending in the long run.
5. Think before you spend
You should ensure that you are in the right mindset when you are planning to buy something.
If you are approaching your spending with the right mindset and are thinking about what the money you are spending each and everyday on buying beer would amount to if you saved it, you will stop drinking out.
That money could help you start your own business or even buy you a new house if it added up for about a year. When you become financially mindful, you will have more choices.
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