Just like any relationship, you need to focus on nurturing it to create a healthy and happy relationship with your money.
So, how can you achieve this?
1. Get To Know Your Money Mindset
Considering how you feel about your money is an important first step to start building a healthy relationship with money.
If you don’t feel good about your finances, ask yourself why: is it because of what you’ve been told about money? Has this affected your ability to have a healthy relationship with money by making you believe that you’ll never have enough?
Once you find out, you can focus your thoughts into something positive.
You can make time to assess your finances on a weekly basis by thinking about areas where you’re overspending and where you can cut your expenses.
It’s as easy as putting aside RM5 every day or subscribing to simple and easy savings plans.
Once you’ve started to put in the effort, you will naturally feel better about your money and feel motivated to save.
2. Stop Comparing Yourself To Others
In this digital age, it’s easy to compare yourself with everyone else. You might feel insecure that your friends are travelling, shopping, and dining in fancy restaurants while you feel guilty about spending a little more than usual on a new shirt.
It’s not fair to compare your financial progress, because everyone has different financial commitments.
Instead, think of what’s important to you and plan your spending. For example, if you love to dine out with friends, you could put aside an amount to spend on food once a month instead of once a week.
This way, your money will be focused on your own happiness instead of others. You’ll start to feel better about your financial situation, and your ability to save for your future!
3. Follow More Financial Social Media Channels
If scrolling through your Instagram feed makes you feel unhappy, you’d probably think it’s best to stay off social media. But we know that as much as we want to, it’s almost impossible.
Why not follow influencers, bloggers and channels that will inspire you to achieve your goals? Accounts that offer financial hacks and advice on personal finance are good places to start.
Reading about how others manage their finances can show you how easy it is to budget and save no matter how much you earn. This can help grow a positive attitude towards your money, motivating you to save for yourself!
4. Treat Yourself Once In A While
Lastly, don’t forget to treat yourself. With all these changes to your financial habits, you may feel restricted. It’s important to reward yourself for all your hard work and treat yourself from time to time.
Put aside a small percentage of your income that you feel comfortable spending. This way, you’ll be able to manage your money in a way that lets you plan for your future, while giving you the opportunity to relax once in a while.
Maintaining a healthy relationship with your money is an important part of your daily life because it can affect how you feel at the end of each day. Once you’ve taken these steps, you’re guaranteed to feel more relaxed about your finances, which will lead to a happier, more confident you!
While you’re at it, why not look into saving in gold? You’ll secure your future with a financial asset that has never lost its value, and balance out your financial portfolio, too!