Money Management As Self Care

When you think about self-care, does money management come to mind? Probably not.

However, if you are honest with yourself, how many of your problems are rooted in money issues? How much of your stress involves worry over how much money you have, paying bills on time, saving for the future and knowing if you can even afford the things you need today?This brand of worry is mentally exhausting. Reassurance that these things are taken care of can be restorative.

Today, in honor of Self Care Month, we have ideas about some acts of good money management that will be more effective than lighting another scented candle. There is a little work and thought involved to get started but this small amount of effort will go a long way toward easing the stress in your life.

Face The Music – If you don’t know how much money you actually have or where your paycheck goes every week, the uncertainty is enough to keep you awake at night. Instead of wondering, why not figure it out? Start by tracking your spending and bills. Whether it’s paper and pen or an app on your phone, find a way to log every penny you spend. From the $10 per month streaming app to the $200 you spent at the grocery, log it all. Add it up at the end of the week and look for patterns. Are there any surprises? Repeat this process for a month to create a clear picture of where your money goes. We’ll let you in on a secret – our app will soon have tools to make it easy for you to see how your money is spent. Stay tuned!

Make A Plan – Everyone hates the ‘B’ Word. So we won’t call it a “budget.” Let’s call it a Money Plan. Having a Money Plan is not punishment. It is simply a tool that will give you peace of mind because it will help you understand what you have and what you can afford to do. Get started with Budgeting 101.

Allow For Treats – With inflation on the rise, many Americans are facing dwindling savings accounts and growing bills that cause tough choices. In the context of self-care, we know that it is important to still treat yourself in times of adversity. In fact, it may be more important than ever. Budget for something fun or something you really love like a meal out with friends. If the budget is really tight, pick up a brownie mix and some popcorn for a movie night at home. Remember, a treat needn’t be expensive, it simply needs to be something you enjoy.

Automate, Automate, Automate – We never suggest that you ignore what’s happening to your money. In fact, we give you tools and resources so you can be engaged with your money. However, if you are a procrastinator, there is something to be said for knowing that bills are paid on time and that savings transfers happen consistently. Online Bill Pay and automatic transfers will help in these areas. Worried about fraud? With VCNB Mobile, you can set restrictions on your debit card and even turn it off when you know you won’t be using it. By setting restrictions on where your card can be used and for how much at one time, you can rest easier that your money is safe. Account alerts can remind you when a loan payment is due or let you know any time there is activity on your VCNB account.

Do Some Soul Searching – If your Spending Plan indicates that you are lacking money for your needs, you need to ask yourself some questions. Do you need (and use) what you buy? Can you lower your bills with a home refinance or by switching cell phone carriers? Do you need to find a better paying job or ask for a raise? We know these things are hard but sometimes self-care is doing the hard things.

What is self-care? It’s not candles and long baths (even though those are pretty great). Self-care is the act of looking after your own wellbeing. Getting your money house in order isn’t fun but it sure does feel good when it’s done.

With VCNB's personal banking products, getting your financial house in order has never been easier. We offer checking and savings tools and other ways to grow your money to help you manage your money and provide peace of mind.