When you think of self care, we bet mastering your finances is not the first thing that comes to mind.
You might think it’s getting your nails done, getting a massage, or going to the gym.
All these things are nice, but they don’t solve what we think is the underlying problem.
We believe the real reason many people need self care is, that they have limited choices.
Better Finances Equals Better Self Care
Limited choices can make you feel like you need an escape from your reality.
Self care is a way to escape and gain temporary control of the life you have.
However, if you really want to take care of yourself and have the life you really want, then you need to master your finances.
I once heard Deanna Broaddus say “when the pain to stay the same is greater than the pain to change you will do what you need to do to get better.”
That really resonated with me, because it’s true.
However, in order to make a change, you have to first realize that you are suffering.
Our First-Hand Experience
Two things that made us realize that a lack of choices was a form of suffering were
1. Our mother’s financial situation
2. Our neighborhood
Our mother did the best she could, but she made very little money, no time for herself, and was constantly stressed out.
Her financial situation led to a lack of choices in housing, childcare, healthcare, food, and entertainment.
A lack of choices led her to a lower quality of life.
In our neighborhood, we saw a lot of people dealing with issues that we believe were actually financial problems masquerading as mental and physical health problems.
They really didn’t have the means to do self care, and therefore never got a break from the everyday problems.
Not having ways to alleviate the situation caused some we knew, to just break down in physically or mentally.
Additionally, growing up poor gave us a ton of stress and pressure to perform.
Our diets weren’t great and due to endless arguments between our parents about money we lost sleep.
We developed weight problems, asthma, and always wanted to escape our environment.
However, today, we no longer suffer from those things and our lives are completely different.
What Changes Improved Our Self Care?
The only difference between then and now is that we’ve mastered our money and now have more choices.
Today, we are financially independent, own property, and have the flexibility to stay home with our children.
Our bills are always paid on time, we have fresh food, and we travel.
We are proof that with the right mindset and financial knowledge you can improve the quality of your life and that of your family.
We believe sharing our knowledge can help others move into another socio-economic class and live healthier lives too.
However, if you think making more money is the secret to selfcare, you are missing something.
When it comes to improving the quality of your life, making more money is only part of the equation.
You have to learn how to manage it or else the problems you are dealing with currently, will just continue.
If you can relate to our story and what to learn how to really take care of yourself look no further.
Here are some things you can do to start mastering your finances and really focus on self care:
Take care of Your Credit
Know your credit score and what’s on your credit report.
If you don’t like what you see, then you need to fix it.
There are many ways to fix your credit by yourself. Everyone is entitled to 1 free credit report every year from each credit bureau.
If you would like a free copy of your credit report just go to www.annualcreditreport.com.
Additionally, to learn why your credit is so important to your self care click here.
Pay yourself first
This is the easiest way to begin what we call a Sunshine Fund.
A sunshine fund is money you set aside for fun experiences, trips, or whatever makes you smile.
We ask that you pay yourself first, because we want you to make it a priority.
Trying to save money after paying all of your bills is very hard.
You tend to only worry about the day to day grind and forget about your long term needs and wishes.
If you think you only have enough money for bills, we want you to go over your monthly expenses in detail.
Want an easy way to learn to start saving click here?
We really believe it’s possible for anyone to save at least 10% of their income (10 cents from every dollar made.) Don’t you?
Pay more than the minimum on credit cards
Paying more than the minimum on your credit cards is important because of how APRs works and how interest is calculated.
If you think a credit card company is doing you a favor by offering a low minimum payment, don’t be fooled.
They are out to make as much money as possible off of you.
Their goal is to keep you hooked on using credit cards to support your lifestyle so that they can stay in business.
For a more thorough explanation, checkout this post.
The only reasons to have credit cards are for building credit and getting perks.
They are not a way to rob Peter and pay Paul.
If you are using credit cards to make ends meet, you are in need of some self care.
Luckily, changing how you use/pay your credit card is one of the easiest ways to master your finances.
Invest, Invest, Invest
It’s true when they say the best time to invest was yesterday and the second best is today.
Many people are staying out of the market for fear of a recession. However, you shouldn’t let these predictions scare you.
Even if we do go through a recession, you should still invest.
Investing is the best thing you can do if you really want to have choices and become financially independent.
The longer you are in the market, the more compounding can work in your favor.
Wealthy people know this and therefore always invest their money regardless of the ups and downs of the market.
In addition, if stock prices are going down, it allows you to buy quality stocks for a cheaper price!
If you think you don’t have the money to invest, think again.
You will be surprised at the different options and different ways to invest.
It also might shock you just how far a little money can go. If you want to know how to get started with investing and learn what you can do with just a little money. Check out this our post on how to invest with as little as $5
Money silently affects so many aspects of our lives that we are unaware of its power on our mood.
Sometimes, improving our financial situation might be the only form of self care needed.
If you feel you need to take a day for self care, use that day to get your finances in order.
It will give you clarity, a sense of vision, and start you on a road to more choices.
Trust us, the effects last longer than a bottle of wine and are cheaper than a massage.
Learning how to master your finances is a form of self care
Nicole is a partner at Wealth Twins LLC. She holds a B.A from Columbia University and an M.B.A in Financial Instruments from New York University. She has worked in Investment Banking and Financial Services for 15 years and retired early in her 30s because of Financial Independence. She is an entrepreneur, investor, and passionate about teaching others how to reach Financial Independence.