Create Financial Flexibility with Mindful Spending Habits
Today, I’m going to talk about money mindset and creating mindful spending habits.
When you desire change, the first step is awareness. So, before you do anything else, you’ll need to assess your current financial situation. You must acknowledge where you are and how you got there.
What choices did you make that brought you here? Which spending habits may not be serving you any longer.
Track Your Spending
When you track your spending for a certain amount of time, you’ll gain insight into spending habits. You’ll not only get a clear picture of where your money is going, but how you feel when you’re spending money. Tracking your spending can be the catalyst to increasing the gap (income – expenses) in your budget.
To bridge the gap between where you are now and where you want to be in your finances, you have to evaluate your current situation.
This exercise isn’t to make you feel guilty. It’s to help you accept responsibility for your current finances. Make intentional choices going forward. And, create new mindful money habits.
Benefits of Tracking Your Spending Habits
- Get a clear understanding of where your money is going
- Identify spending habits (healthy and unhealthy)
- Ditch the unconscious/unintentional spending.
- Identify spending triggers which lead to impulse purchases.
- Create a budget that’s aligned with your financial goals and values.
- Gain control over your finances
What’s next…
Analyze your spending habits. Use your spending tracker to identify patterns. When you come across spending habits that don’t align with your long-term financial goals, dig deeper.
Do my current spending habits have me on track for success? Be honest.
Make choices and develop spending habits that will moves you forward.
Create money habits that support your dreams and vision.
Design a spending plan that creates financial flexibility.
Create a plan that supports the vision to live by design NOT default.
Start from where you are now. The goal is to take action. Become an intentional spender, mindful spender, conscious spender, whatever the terminology….start now!
Check out the 24/7 Spending Diary
Get Started Today – Click Here
You can do it! You just have to start.
Sherry Lou
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