5 Tips for Boosting Financial Well-Being

How are you holding up? Like, really?

I think we can all agree this election season has been brutal. Anytime we experience feelings of uncertainty and anxiety there is potential for that to bleed over into our finances.

Here are five tips for simultaneously improving your mental health and your family’s financial well-being

Tune Out the Noise🔊: Un-gluing attention from social media and the news takes effort but will be a game-changer for your stress levels. It’s easier to make level-headed financial decisions when not constantly bombarded with doom and gloom.

Stick to Your Money Plan📱: Focus on aligning your spending to your money goals. The Monarch budget app can help your family get on the same page with where your money is going, providing a sense of control when everything else feels chaotic.

Save for a Rainy Day🌧️: Did you know that 63% of Americans are unable to cover an unexpected $500 expense? I know, I know. Saving money isn’t the most exciting thing to talk about. But trust me, having that cushion takes a huge weight off your shoulders when the stressors of life are inevitably thrown your way. 

Treat Yo’ Self (Responsibly)💁‍♀️: Everyone needs the occasional pick-me-up, but instead of stress-shopping or splurging on big purchases, try to find something small to enjoy that doesn’t come with an added side of buyer’s remorse. Nature walks accompanied by a bottle of wine always make me feel better. 

Donate Your Time🕗: Consider volunteering for causes you care about or engage in community service, even if that means picking up trash as you walk your dog around the block. Giving of our time provides a sense of connection to something bigger, directly impacting mental health and indirectly impacting financial health. 

Maintaining good mental health is crucial for making sound financial decisions. I encourage you to prioritize yourself in whatever ways speak to you. And remember – your worth isn’t tied to your wallet or who’s in office.