5 things you need to be happier with your finances

Finances can be a major struggle and stress factor in your life. You may not even realize the negative impact it can have on your relationships and quality of life.

Today, I want to share with you a few things you can to to be happier with your finances. No matter where you are on the financial scale, it is vital to find some joy in your current situation.  

Without happiness in the moment, you’ll struggle to appreciate better finances when the time comes. Even if you feel like you are in a bad financial place right now, it won’t always be like that.

Having a negative mindset about your budget can prevent you from ever changing your financial situation.

5 Things You Need To Do To Be Happier With Your Finances

Having a negative mindset about your budget can prevent you from ever changing your financial situation. Read the post to discover 5 things you need to do to be happier with your finances.

Why should you try to be happier with your finances?  

Frankly, it’s important to focus on what you have currently if you are truly wanting to improve your situation. Often, when we find ourselves down financially, it is a lot harder to imagine a better situation if we cannot become content where we are. 

These things help make it easier to be content now, and thus have a better future.

Track your expenses.  Many individuals find that when you track your expenses you will notice mistakes you are making that could be setting you back from long term goals. This is also a great way to notice changes you are making as you try to better your situation.

There are multiple ways to track your expenses. You can simply use a pen and paper method of making notes when you make a purchase. This is going old school and a simplistic tracking method.  My preferred method is to start with a simple monthly budget spreadsheet.

  • Compare you spending habits to find places you can make changes.
  • Track where you are making unnecessary expenditures.
  • See places you are saving and making good choices.

{Related: Yearly Household Budget}

Set smaller goals.  Do you have a large  long term financial goal? I am sure we all have something large in mind when we think of our finances. Perhaps you want to build an emergency fund, pay off your mortgage, or even set up a retirement account. No matter what your large goal is, one of the best ways to be happier with your finances in the moment is to set up smaller goals.

Break up your long term goal into small increments you can manage. You can do this by dividing into monthly goals, or even just an annual goal. Also consider things that are not necessarily monetary goals, but that will contribute to your long-term financial success.

  • Break up large monetary goals into quarterly or monthly goals.
  • Divide savings goals into weekly amounts to make it easier to manage.
  • Improve your work performance and ask for a raise.
  • Take on extra overtime hours.
  • Set education goals that will improve your chances of a better job.

{Related: 2017 Budget Binder}

Have a splurge budget.  When it comes time to save money or pay off debt, many people remove all extra expenses from their budget.  This means they begin depriving themselves of everything that brings pleasure. When you deprive yourself of all the little things in life, you are much more likely to find yourself unhappy and unable to keep up with your long term goals.

Adding a small splurge budget into your family budget is a must. This could be something as small as a $5 per week splurge on things like a special drink, or it could be adding in a once a month date night with your spouse.  

These are things you need to feel less restricted.  A splurge budget should be something within reason.  Don’t over think this, but make room for something reasonable.

Don’t compare your finances to others.  If you really want to be happier with your finances, this is the number one thing to remember. You have to stop comparing finances to others.  

This may be the hardest thing you’ve ever done, but it is so very worth it.  Looking at what other individuals have or make is going to always bring you down.

  • If others share about their income a lot, avoid those social media shares. It’s okay to remove yourself from temptations.
  • Stop looking at a situation you don’t know details of as a comparison. Many share things publicly that aren’t the full story. While it looks nice on the outside, it may be much different.
  • Every family dynamic is unique. Two families can make the same amount of money but have a different financial outcome. It all depends on expenses and current debt.  

Be grateful in the moment.  This seems cliché, but it really does make a huge difference. To be happier with your finances you really must focus on the here and now. If you continually look at what could be or what the future may hold, you are only going to find yourself always disappointed. Every day you can find something to be grateful for in your life that doesn’t have to be financially motivated.

It is hard to be happier with your finances.  Sometimes, it feels truly impossible.  We always seem to long for more.  

These tips are a great place to begin when you are working on how to refocus your mind to be happier at the moment with where your finances are today.

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