9 Top Financial Self-Care Tips for 2021
Top Financial Self-Care Tips
The last year has been rough, and just like practicing self-care in other areas of your life, it’s good to check once in a while and make sure your finances are doing okay as well. Plus, thinking about fun things you can do with your money is always a bonus. Here are the top ways to practice financial self-care this year.
1. Prioritize Debt
Debt can be overwhelming for anyone, no matter their financial situation or income level. Debt stress can creep up in unexpected ways, from job performance to how you handle money conversations. Once your debt is in order and paid down, you’ll be breathing that sigh of relief and will be lifting the debt weight off your shoulders.
2. Budget for Fun
While it is important to have some sort of budget to guide your savings and maintain a healthy spending routine, it’s also important to budget for fun. With the responsibilities of bills, mortgages, debts, and more, it can be easy to forget to put money aside for recreation. Self-care involves taking deliberate steps to better one’s overall health.
3. Find Ways to Give
Just as important as it is for you to spend some of your hard-earned money on yourself and your family, finding ways to give back and help others can provide you with some great benefits. Finding a charity or organization that has meaning to you or your family is a special way to give back to others in need.
4. Revisit Insurance Policies
A lot of stress can stem from uncertainties about the future. And while you can’t guess what tomorrow brings, planning for it fully can help you feel more confident that you can handle whatever is thrown your way.
5. Improve Financial Literacy
Continually improving your financial literacy is one of the best things you can do for yourself. Money and finances are intertwined with almost every aspect of our lives, and the better we understand them, the better our decisions and lives will ultimately be.
6. Build an Emergency Fund
What would happen if you had an emergency tomorrow? What if your car broke down or your water heater quit? Would you have enough money to cover the expense without going into more debt? Unplanned expenses such as those described above are exactly why an emergency fund is so important.
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