Guest Blog By: Kelsa Dickey, Fiscal Fitness
As a Financial Coach, I talk to people about their financial wellness. Over the years I have found that many of us make choices that are simply not good for our financial health. Kind of like when we eat junk food knowing it’s not good for our physical health. Sometimes we just can’t help ourselves.
If we could take a minute before making a decision about our the money we could make ourselves a lot healthier financially. I like to call it financial self-care and here are some reasons why it’s important:
Set financial goals.
I don’t ask my clients to set goals just to have a reason to bother them. Having a goal is good for your health. You’re not looking back at the mistakes you’ve made. Instead you’re looking toward a brighter future.
Take your time.
Have you ever bought something you thought you needed or deserved and when you look at it you get a pain in your stomach? That feeling is called buyer’s remorse. While you thought you deserved this gadget, you know you can’t afford it or aren’t looking forward to making payments on it. Before you make your next purchase, take time and decide if the purchase is worth compromising your financial goals and avoid buyer’s remorse.
Communicate with your spouse.
One of the top reasons couples get divorced is financial stress. Keeping family finances healthy means understanding each person’s goals and creating a budget that fits everyone. Take care of your marriage by discussing financial matters with your spouse in a positive and supportive manner.
Keep monthly expenses to a minimum.
Maintaining a low cost of living means having greater flexibility to meet financial goals like paying off a mortgage or taking a dream vacation. You will also have less stress because you know your monthly bills are paid AND that you have an emergency fund to cover expenses should income change. You might even find that you can live on one income and save the other one to help you meet financial and philanthropic goals.
Use cash for everyday purchases.
A big part of financial wellness is sticking to a budget. All of my clients have a budget customized for their lives and goals. It’s not up to me how you spend your money, only to help you stick to the budget that you created. One of the best ways to keep stress low and stay on budget is to use cash for everyday purchases such as groceries.
Financial self-care means having and sticking to a plan that will help you meet future goals. And just like when we eat that bag of chips on our way to physical health, we sometimes have bumps in the road to financial health. Remember that as long as you’re moving forward, you’re moving in the right direction. Here’s to your financial health!
Kelsa Dickey is the Founder of Fiscal Fitness Phoenix based in Phoenix, Arizona. Her passion for helping people with their daily finances began when, as a middle school student, she witnessed her mother going through the bankruptcy process. Kelsa went on to earn her Bachelor's degree in Finance and then onto receiving her MBA. She has spent more than 10 years assisting others in tackling their money. She originally served clients in the Financial Planning and Accounting fields before launching Fiscal Fitness Phoenix. Kelsa is not your typical Financial Coach, she helps transform the way people approach their finances and assists them in changing their overall feeling about money.
In her spare time Kelsa enjoys hiking, reading, watching movies, traveling, and spending time with her daughter, husband and two dogs.