subject: Mind Over Money: How To Mind Your Money Matters [print this page] There is an ancient saying that every step of the journey is the journey. I remember my trip to Austin to see my mom. She was moved to hospice care after a long battle with illness. It was my chance to say goodbye and hold her hand as she walked the last steps of her journey on earth. I am comforted by the promise of eternal life and a joyful reunion in heaven one day.
I looked at the accumulations of her life. I thought about the time, energy and money spent buying, maintaining, insuring, storing and disposing of things. Many of these things brought great joy along the journey and there is everything right with sampling some of what this world has to offer. After all, what is the point of the buying and selling of things if they do not bring some momentary happiness? The ability to choose this or that gives us a small yet fleeting taste of control.
So how can we control our thoughts along a lifetime path of financial choices? If we can learn to monitor the mind then we have a better chance of making smart money decisions. Only after we make a good financial choice can we move onto questions of borrowing money to pay for it.
Many people are challenged by big decisions so here is a list of the best ways to get your mind around those choices for your maximum financial benefit:
Free Yourself From Financial Absolutes: The best money decisions come from a balanced and centered state of mind. We can make choices from a clear-minded perspective when we avoid absolute thinking. Free yourself by noticing when you start thinking from a must have perspective. Usher those thoughts outside during the decision making process for greater objectivity.
Make Choices From a Good Spot: Generally, we can make better choices when we feel good. Illness, stress and environmental factors can influence our ability to make smart money choices. Feelings of sadness or anger can cloud our thinking and distract us from making sound decisions. There are many ways to put on a good mood including regular exercise, a sound meal plan, sunshine, and being in the process of creating fresh memories. What are fresh memories? Drive away and create some and see if your mood gets better.
Breathe: Deep breathing is important for clear thinking and all-around good health. If you hold your breath during stressful decisions you are more likely to make a mistake. If you hold your breath during exciting times you are likely to miss the moment. Make sure to focus on deep abdominal breathing for better health, less stress and an enhanced ability to make big financial choices.
Relax the Act: Many people spend or invest money in the vain attempt to impress people they do not know using money they cannot afford to let go. The financial decision made from the perspective of influence, whether in business or personal finances, greatly reduces the financial impact we make along our life journey. When our ego controls our money choices we often do not line up with our core values. How many new luxury cars have been produced for buyers who thought that purchase would elevate them in the eyes of their neighbors? How many lawyers are really geologists at heart? How many businesspeople would rather be practicing photography as a profession? Be who you really are.
Choose From Where You Are: I sometimes spend too much time in the past. It is a place where I live with some regret for choices made long ago. Other times my mind is racing ahead to potential outcomes from where I stand today. Either spot in the mind is a dangerous place to make big financial decisions. Be present in terms of your financial resources and make decisions from that vantage point. Too often business people and consumers speed ahead to the desired outcome, the dream, without any critical thinking or a solid plan for funding the goal. Other times they live in the past and use money to soften guilty feelings. Either position is a weak base for making important decisions. Move to more solid ground in the present.
Be who you are where you are with what you have. Be aware of the tape running in your head that prods you to make choices that are not uniquely you. Mind your mind for a greater chance of making smart financial decisions.
