I really appreciated this. It seems that these things boil down to seeing and valuing what you have now, not focusing on scarcity or future acquisitions. I’m working on retraining my overachiever brain towards this mindset.
Love your framing here. It all reads "presence" to me. How are we present with our money habits? How are we not? This financial planner approves! I thought I'd offer some approaches I take with clients that are a slightly different angle but I think fit nicely here.
1-identify your values (I use a list from Brené Brown to help clients whittle down a list of 3) and compare those to your cash flow (and your calendar, btw). Does how you spend (and earn) align with your values? If not, what can you do to get more aligned?
2-while we can easily "leak" or fritter away stupid amounts of money on things like subscriptions or DoorDash, the things that really move the needle in a financial plan tend to be the bigger expenses like where we choose to live and what we choose to drive (or not!). If we aren't on track for our financial goals and can shift some of the money that might go to a higher rent/mortgage/car payment to paying down debt or contributing to savings, that will likely have a bigger impact than wiping out all latte expenditures.
3-Get to know and appreciate "future you". Saving for long term goals can feel totally abstract. But if we spend time thinking about what we want life to look like 30 years down the road, and that we deserve to treat our future selves well, that can make delaying the gratification of the impulse purchases easier.
I really appreciated this. It seems that these things boil down to seeing and valuing what you have now, not focusing on scarcity or future acquisitions. I’m working on retraining my overachiever brain towards this mindset.
i love the art pieces you chose for this article! i couldn’t help but take in the peacefulness and beauty in each one :)
Love your framing here. It all reads "presence" to me. How are we present with our money habits? How are we not? This financial planner approves! I thought I'd offer some approaches I take with clients that are a slightly different angle but I think fit nicely here.
1-identify your values (I use a list from Brené Brown to help clients whittle down a list of 3) and compare those to your cash flow (and your calendar, btw). Does how you spend (and earn) align with your values? If not, what can you do to get more aligned?
2-while we can easily "leak" or fritter away stupid amounts of money on things like subscriptions or DoorDash, the things that really move the needle in a financial plan tend to be the bigger expenses like where we choose to live and what we choose to drive (or not!). If we aren't on track for our financial goals and can shift some of the money that might go to a higher rent/mortgage/car payment to paying down debt or contributing to savings, that will likely have a bigger impact than wiping out all latte expenditures.
3-Get to know and appreciate "future you". Saving for long term goals can feel totally abstract. But if we spend time thinking about what we want life to look like 30 years down the road, and that we deserve to treat our future selves well, that can make delaying the gratification of the impulse purchases easier.
Looking forward to the next installment!