Well, here we are. It’s September and while there is optimism that we may one day see a post pandemic world in Brampton and the GTA, this just doesn’t feel like the usual “back-to-it” September that always got us energized every year. So maybe don’t focus on getting re-energized, look instead for ways to keep your life and finances as de-stressed as possible. Here are some simple ways to help you do just that –
Remember that you are important!
If you are feeling anxious or your health habits have slipped, being kind to yourself! Self-care is vital if you are looking to positively reset your health and wellness, and you can’t take care of others if you are not at optimal health. Remember that the most important relationship in your life is the one you have with yourself, so be sure to nurture it!
Splurge, but maybe just a little
We have all dealt with stressors that we didn’t even know existed, like not being able to see family and friends. That’s why we all want to live a little, but perhaps do it strategically so you don’t break the bank. Have some celebratory days with a set amount that you can spend where you go out and do the things you’ve really missed.
Get away from your electronic devices
A great way to manage stress is by spending time away from the computer, phone, and TV. We’re going into a very beautiful time of year so be sure to get outside, breathe deeply, and enjoy. Set boundaries if that will help.
Don’t forget your budget
Having a budget is one of the most important ways to achieve a solid financial future. It might not be the most thrilling task, but it’s one that will give you a clearer picture of where you stand and how much you can truly spend. You’ll also be able to determine how much money you can allocate to your “live a little” fund.
When preparing your budget, take a new look at your monthly bills and go through them line by line. You may have signed up for services you never really use or perhaps don’t remember requesting. Look for small, unexplained charges, fees, and add-ons, and the services that you can now live without.
If you don’t have a budget planner, an excellent one is available through the Financial Consumer Agency of Canada, found here – https://itools-ioutils.fcac-acfc.gc.ca/BP-PB/budget-planner
Spend more time, not money
We’ve all gained a new appreciation of the value of being able to spend time with loved ones in person, and that it’s something to treasure. Focusing on this may keep you from spending money you might not have or might not want to spend!
Maintain your credit
Your credit score is your passport to financial opportunities. It can mean the difference between getting approved or denied for credit and can prevent you from getting the lowest mortgage rate.
The good news is that you have a lot of control over your score. That’s why it’s important to always have good credit behaviours. The single biggest factor to having a good score is a timely bill payment history so do what you can to never let a bill get past due. Be sure to know your credit limits and try not to use more than 33% of the available amount, don’t be tempted to apply for store cards just to save on your purchase that day, and before you cancel a credit card get in touch so I can give you advice.
Focus on your high-interest debt
Always keep an eye on your high interest debt and pay down your credit cards as much as possible. If you find that your debt is making things difficult every month, you may be able to move that debt to your lower-rate mortgage if you have enough home equity. You could save thousands in interest, have one lower monthly payment that greatly improves your cash flow, and enjoy much reduced financial stress. I can quickly determine if you qualify to refinance, and I will also do a cost benefit analysis to see if you can benefit.
Help others
There are many that weren’t very fortunate during the pandemic. Consider committing some money to giving back i.e., charities, shopping local, and tipping restaurant and others service industry workers generously.
Don’t be afraid to say no
It’s okay to say “No” to demands on your energy and time if it will create stress that you just don’t need. Remember that you don’t have always have to meet the expectations of others.
Maybe what we view as normal will be redefined forever. That’s okay. Go easy on yourself and know that I am a good listener. I am always here to help those in Brampton and the GTA with any questions they may have. Contact me anytime. Be well. Be happy!
