In the money coaching app image, three screenshots of phones show ways of managing money so you can stress less and improve your spending habits.

10 Mindfulness Practices to Stress Less, Save More, and Improve Your Spending Habits

by Kaitlyn Ranze

Track what’s stressing you out with a daily check-in. With the Nav.it money tracking app you can connect how you feel with what you spend.

If you’re like most people, the word “mindfulness” probably sounds a bit…well, new age-y. But trust us, there’s science to back up the power of mindfulness – in fact, it can even help you save money.

Mindfulness is all about being present in the moment and paying attention to your thoughts and feelings without judgment. When it comes to spending, mindfulness can help you become more aware of your triggers and learn to control your impulses.

Here are 10 mindfulness exercises that will help you save more and stress less:

1. Make a list of your spending triggers.

What causes you to spend money impulsively? Is it boredom? Stress? A certain time of day? A specific place? Keep a journal and note down when and where you spend money impulsively. This will help you become more aware of your triggers so you can avoid them in the future.

If you’re not already tracking your transactions, start there.

2. Pay attention to your thoughts and feelings.

The next time you’re about to spend money, take a moment to check in with yourself. What are you feeling? Why do you want to buy this thing? Is it something you truly need or just a fleeting desire? Once you become aware of your thoughts and feelings, it’ll be easier to control your spending.

3. Practice mindful breathing.

We all want to save money, but sometimes it feels like our spending habits are out of control. If you’re looking for a way to get your finances under control, you may want to try mindfulness breathing exercises.

When you’re feeling stressed or tempted to spend money, take a few minutes to focus on your breath. Breathe in slowly and deeply, and then exhale slowly.

Follow along with this gif to practice box breathing and practice money mindfulness.
Box breathing: 4 seconds to inhale, 4 seconds of holding your breath, 4 seconds to release breathe, and 4 second pause. Repeat four times.

Here’s how mindfulness breathing exercises can help:

1. Mindful breathing allows you to focus on the present moment, which can help you resist the urge to spend money impulsively.

2. Mindfulness can help you become more aware of your thoughts and feelings about money, which can help you make better spending decisions.

3. Breathing exercises can help reduce stress and anxiety, which can lead to better financial decision-making.

This simple mindfulness exercise will help you relax and clear your head so you can make better decisions about spending.

4. Visualize your goals.

Some people might think that visualization is a bit “woo-woo” but the truth is, it can be a powerful tool to help you change your money habits. Here’s how it works:

When you visualize something, you are essentially creating a mental image of it. And when you create a mental image of something, you are more likely to pay attention to it and take notice of it in your everyday life.

For example, let’s say you want to save more money. One visualization exercise you can do is to imagine yourself putting money into a savings account every month. As you visualize this, pay attention to the feelings that come up for you. Do you feel happy? relieved? excited?

By focusing on these positive emotions, you are more likely to actually follow through with your goal of saving money. And the more you visualize it, the more likely it is to become a reality.

Give one of these money visualization exercises a try:

The 10-Year Goal Exercise

This exercise is all about setting long-term financial goals and visualizing what your life will be like when you reach them.

To get started, think about what you want to achieve financially in the next 10 years. Do you want to save for a down payment on a house? retire early? travel the world?

Once you have your goal in mind, start visualizing what your life will be like when you reach it. What will your lifestyle be like? Where will you live? What will you do with your time?

The Savings Exercise

This exercise is designed to help you visualize how much money you can save over time.

To get started, simply take a look at your current spending and saving habits. How much are you spending each month? How much are you putting into savings?

Now, imagine that you could double or even triple your current savings rate. How much would you have in savings after 10 years? 20 years? 30 years?

This exercise is a great way to see how small changes to your spending and saving habits can have a big impact on your financial future.

The Retirement Exercise

This exercise is all about visualizing what your retirement might look like.

To get started, think about when you want to retire. Do you want to retire at age 65? 70? 75? 80?

Once you have a retirement age in mind, start imagining what your life will be like when you reach it. Will you still be working? If so, what will you be doing? If not, what will you do with your time?

This visualization helps you overcome present-bias, our natural inclination to prioritize our present situation over the future.

The Debt Reduction Exercise

This exercise is all about visualizing how quickly you can pay off your debts.

To get started, simply take a look at your current debt situation. How much debt do you have? What is the interest rate on each debt? When is the earliest you could pay each debt off?

Now, imagine that you could double or even triple your current monthly payments. How much faster could you pay off each debt? What would be the impact on your overall financial situation?

It’s a great way to see how small changes to your debt repayment plan can have a big impact on your financial future.

The Net Worth Exercise

This exercise is all about visualizing your net worth over time.

To get started, simply take a look at your current financial situation. How much money do you have in savings? How much equity do you have in your home? What is the value of your retirement accounts?

Now, imagine that you could double or even triple your current net worth. How would your life be different? Would you be able to retire sooner? Would you be able to travel more? Give more to charity?

This exercise is a great way to see how your financial situation could change over time. It can also help you start making choices now that will help you grow your net worth in the future. When you’re feeling tempted to spend money on something you don’t need, take a moment to visualize your long-term financial goals. What do you want to achieve? Do you want to save for a down payment on a house? Invest in a solid retirement fund? By keeping your goals top of mind, you’ll be less likely to make impulse purchases that derail your progress.

5. Tracking spending

One of the best mindful money exercises is tracking spending. This mindful practice can be done daily, weekly, or monthly, depending on your needs and preferences.

There are many benefits of tracking your spending. First, it helps you become more aware of your spending patterns. Second, it allows you to identify areas where you may be able to cut back. Finally, it gives you a clear picture of your overall financial situation.

When you track your spending, you will quickly see where your money is going. This information can be very helpful in making future budgeting decisions. It can also help you spot potential problem areas, such as overspending on unnecessary items or impulse purchases.

If you are not currently tracking your spending, there are many ways to get started. You can use a simple notebook and pencil to track your daily expenses. Or, there are many budgeting apps and software programs that can help you track your spending. Whichever method you choose, the important thing is to get started!

6. Mindfulness hack – Automate your finances.

While there are a bunch of ways to practice mindfulness One of the best ways to save money is to automate your finances so that you’re automatically transferring money into savings and investment accounts each month.

When you automate your finances, you’re setting up a system that forces you to pay attention to your spending. You have to think about where your money is going and why you’re spending it. This can help you become more mindful of your spending habits and make better choices about how to use your money.

Automating your finances can also help you stay on top of your bills and save money. When you have a system in place that automatically pays your bills, you’re less likely to miss a payment or forget about a bill. This can help you avoid late fees and other penalties, and it can help you save money in the long run.

7. Exercise Mindfulness by Budgeting

Budgeting is a great way to be money mindful. It allows you to see where your money is going and make adjustments accordingly. Plus, it can help you save money in the long run.

If you’re not sure how to start budgeting, don’t worry. There are plenty of resources out there to help you get started. You can find budgeting worksheets online or in financial planning books. Once you’ve got a handle on budgeting, you’ll be well on your way to being money mindful.

8. Invest in yourself.

Investing in yourself means putting your money into activities or things that will help you grow as a person. This could include taking courses, buying books, or investing in your own health and wellbeing.

The benefits of investing in yourself are numerous. Not only will you be improving your skills and knowledge, but you’ll also be more likely to achieve your financial goals.

So if you’re looking to be more money mindful, start by investing in yourself. It’s one of the smartest things you can do for your finances. By investing in your future, you’ll be more likely to earn a higher income and reach your financial goals.

9. Give yourself a break.

We all know that money can be a stressful subject. Whether we’re trying to save up for a big purchase, worried about making ends meet, or simply keeping track of our spending, it’s easy to get wrapped up in our finances.

One great way to help ease the stress of money management is to give yourself a break. That’s right, take some time for yourself and relax. It may seem like an odd way to be money mindful, but taking a break can actually help you save money in the long run.

When we’re stressed, we’re more likely to make impulsive decisions. We may splurge on unnecessary purchases or neglect our budgeting efforts. But when we’re relaxed, we’re more likely to make thoughtful decisions that can save us money.

Use the Nav.it money app to schedule worry time, improve your relationship with money, journal and practice mindfulness daily.

So go ahead and take that break. You may find that it’s just what you need to get your finances back on track.

10. Schedule worry time

When it comes to money, we often find ourselves worrying about the future. Will we have enough to retire? How will we pay for our child’s education? These are valid concerns, but they can often lead to stress and anxiety.

Fortunately, there is a way to ease these worries with one of our favorite money mindfulness exercises: by setting aside some time each day to worry about your finances. This may sound counterintuitive, but hear us out.

By dedicating a specific time to worry, you can actually reduce the amount of time you spend worrying overall. That’s because when you have a designated worry period, you can put your worries aside for the rest of the day and focus on other things.

Plus, this mindful practice can help you become more aware of your spending and saving patterns. As you become more attuned to your financial habits, you may find yourself making better decisions with your money.

Exercise mindfulness and seek professional help if you need it

If you’re having trouble managing your spending, seek professional help. A financial advisor can help you create a budget, invest for the future, and make smart decisions about spending.

Mindfulness is a valuable tool that can help you improve your spending habits and save more money. By being aware of your thoughts and feelings, practicing mindful breathing, and visualizing your goals, you can control your impulses and make better decisions about spending. So next time you’re feeling tempted to spend money impulsively, take a moment to be mindful – it could save you a lot of money in the long run!

Related Reads

The Best Money Habit to Implement: Tracking Your Spending

Best Apps for Living More Mindfully

Benefits of Worry Time

How to Stay on Top of Your Finances (Without Stressing about It)

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