Practicing gratitude for financial health
‘Tis the season of gratitude.
Yes, our world has daily ups and downs. And it’s human nature to focus on things we can’t control. That’s why it’s so important to remember the things in our lives that we are grateful for.
An attitude of gratitude has a variety of mental, emotional and financial health benefits. Here are 3 specific ways that practicing gratitude may improve your financial health:
1. Making mindful financial decisions – When we take notice of things we are grateful for, we become more aware of what we value in life. We deepen our understanding of what’s really important to us, and in doing so we start to examine our decisions in a new light.
By practicing gratitude, you might realize that you don’t need to spend a ton of money to feel content. Those feelings of FOMO will likely decline and your bank account will say thank you. You might find that what makes you most happy is actually free! Think sunshine, laughing with a friend or smelling the roses…
2. Cultivating financial patience – As humans, we love instant gratification. It’s easy to devalue a reward that’s available in the future and focus instead on immediate benefits. With gratitude, we can reduce financial impatience, thereby encouraging behaviors to save more money. Rather than pulling out those interest-carrying credit cards (or using Buy Now, Pay Later options) to make a purchase, you may be more inclined slow down to savor all that you have while you build up funds for your desired purchase.
Gratitude can help reduce impulse spending. By becoming more aware of all that you’re grateful for, you may realize you just need less stuff to feel satisfied!
3. Prepares you for generosity - Gratitude is not just about us being more content in our own lives. Researchers have also observed that grateful people give more to others. In addition to the obvious benefit to those you support, we often help ourselves when we prepare to give to others. How? To be financially generous, our financial picture must be organized. You’ll need to have a solid understanding of the money coming in and out of your life prior to making charitable financial commitments.
Plus, when you give to others, you may potentially receive a tax break, so save those receipts!
Gratitude fuels a mindful money mindset.
I’ll continue to practice my “3 gratefuls” every night…know that YOU are in the list today. Thanks for reading this message – I am truly grateful.
Stay safe and healthy!