How to Boost Your Mood and Money
Many people believe that it takes having a large sum of money to live a comfortable life. However, even if you aren’t making six figures and satisfying all of your wants, anyone can live a comfortable life if their finances are managed properly.
It has been well documented that your financial situation can directly impact your mental and your mood. Fortunately, there are different ways to help boost your moods and finances. Below are four valuable techniques.
1. Check your transactions regularly
Sometimes we get a little too spend and swipe happy, resulting in expenses getting out of hand. A way to prevent this from happening and improve the mood about your current financial status is to record every transaction. The documentation of transactions helps you understand what expenses are needs and which ones are wants. The differentiation will help remove unnecessary expenses and increase your monthly net income.
2. Generate multiple streams of income
Income can be made in many different ways, such as tutoring, getting a second job, or turning your hobbies into a business. Another income option is passive income. Passive income is one way to increase your income without having to actively work for the money you receive. One way to generate revenue is by using your car. Increasing your income will help boost your mood as financial flexibility and security is a goal for many people.
3. Separate your emotions from your money
Mixing your emotions with money is never a good idea. It’s common for people to spend money based on their feelings for that day or week, leading to the mismanagement of their money. When you aren’t in a space to think clearly about your finances it can lead to poor financial decisions like buying items you don’t need. Impulsive spending can worsen your mood and ultimately cause a financial burden. It’s essential to take a pause to separate your money from your feelings, doing so will help you prioritize your needs versus your wants.
4. Set realistic goals regarding your financial situation
Without clear goals, it is hard to stay on track of your financial objectives, affecting your mood and financial situation. Therefore, setting realistic goals and keeping track of your spending to see if your goals are being met is key to being financially happy. Use S.M.A.R.T. goals to help guide you through the process of goal-setting.
5. Treat yourself
While you should financially prioritize things such as your kids and bills, always remember to treat yourself. You work hard, so that means you also deserve to treat yourself. If you are only saving your money or spending it on others, it will make you feel that you are working for nothing. Always treat yourself first, even if it is simply buying a candy bar.
It is essential to keep in mind that when personal feelings are attached to your money, more often than not, it results in misuse of funds which hurts your finances in the long run. By following these tips above to boost your mood and think in a logical way about your finances, you will increase your happiness overall.
Are there any additional ways that you have been able to use in order to boost your mood regarding your personal finances? Comment and share them with us below!