A Self-Care Checklist
For Your Financial Health
Self care doesn't always look pretty. And while a bubble bath or face mask feels good in the moment, let's face it, these things can be a quick fix when self-care really asks for something that can actually alleviate anxiety. So while you should keep in the rituals that make you feel good, it's important to tap into practices that prioritise your mental health. We know the link between mental health and finances is strong, and so take the time to redefine self-care for YOU with goals that will help you gain better financial wellness.
Financial wellness is self-care, and here’s a financial self-care checklist to help you work towards your financial goals and ease financial stress.
- Create a budget. Yes, you need one. Think of it as a way of controlling where your money goes, not restricting it. If your money has a plan, you will be able to do more with it and it works for you.
- Track your spending. This is tied to having a budget, because once you can see where you’re spending money unnecessarily, you can adjust your spending habits to reign in the areas that need it.
- Make room for treats. Once you’re feeling stable and comfortable with your spending habits, allocate money in your budget for the occasional treat and reward your positive financial moves.
- Set goals for your future spending habits. Dream big, because these dreams are what will motivate you to work towards your goals and maintain healthy financial self-care. Every day, right down your goals, visualise them and say them over in your head. What you water will grow.
- Start an emergency fund. From the little to the big, unexpected expenses or income loss can have a big impact on your finances. Car expenses, vet bills, job loss and more are the unfortunate reality of life, and it’s likely that you’ll go through something at some point that is costly and unexpected. Aim for three to six months of your take-home pay, and while that may seem like a lot, it’s ok to start small.
- Start investing toward your goals. Sometimes this means digging in the couch for spare change to put away, and that’s a good place to start. Every bit of savings counts. Also importantly is the practice of putting money away on a regular basis. The more you do it, the easier it will be to do.
- Know where you lack financial literacy. We all lack knowledge somewhere in the realm of financial literacy; there is so much to know! The good news is that there are countless resources available to help you brush up on your knowledge. Figure out what you need to know and then take the time to figure it out or source out what you need.
- Pay off debt as quickly as possible. Prioritize your debt payments, and if they are too great to handle, call our debt relief specialists for a free consultation. From debt consolidation to consumer proposals to bankruptcy, there are options to start debt free.
Financial self-care checklist complete. Now run a bath and light some candles - you’re on your way to a brighter financial future already.
By Taz Rajan Community Engagement Partner at Bromwich+Smith
Taz has been in the finance industry for nearly 2 decades and has always been passionate about education and empowerment. Having declared bankruptcy herself, she intimately understands the shame, stigma surrounding matters of debt as well as the joy and relief that comes from restructuring. Taz actively works to normalize the conversation of debt through blogs, media interviews, webinars, lunch & learns and through building relationship.