The hustle and bustle of New York causes many different kinds of stresses, but the single biggest is by far money related stress. Not just in New York, but nationwide over 62% of Americans report their number one stress being finance related.
I can not stress enough how important I think it is to save money and to manage it well, but all the work (and it’s a lot living in New York) that it can take to make the right financial decisions doesn’t mean anything if it comes at the expense of your health. That’s why its important to find a balance between a health bank account and a healthy being.
To me, long term financial wellness comes in two phases; long term and short term.
Long term financial wellness is what’s most commonly discussed. Earlier blogs about creating my plan to save $20k this year, or about making sure I take one small step towards my goal every day, or that I make one small improvement everyday are steps I’m taking to focus on my long term financial wellness. But even the most determined person is going to lose sight of their long term financial wellness if they don’t focus on their short term financial wellness as well.
It’s important to step back from time to time and do something that’s going to make you happy even if it means spending more money than you would usually spend. If you make enough to budget for splurges like that then great, just tuck a few dollars away every month for that, but if you are like me and your budget is already stretched thin, then it might mean saving less for one month from time to time. And that is okay.
To me saving is a challenge that I enjoy. I find it fun to find new ways to save money and that includes saving money on splurges that I enjoy as well. Be it using credit card points to reduce the cost of travel, an off budget dinner with friends, or any number of things, I often find there is always a way to lessen the financial burden of activities and events I enjoy.
This allows me a chance to cut loose and relax a little bit from time to time and as long as I don’t splurge too often, these activities are a great way to keep my stress down and allow me to continue focusing on my long term financial wellness.
Moving forward, I’ll be sharing tips and ideas for ways to save when you are taking those breaks from focusing long term. Just be sure to always remember to keep things in balance!