Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Search in posts
Search in pages
Search in groups
Search in users
Search in forums
Filter by Custom Post Type
Filter by Categories
Health Care
Healthy Lifestyle
Personal Finance
Your Financial Life
By Transamerica / Sep 27, 2016

How Mindfulness Can Curb Spending and Increase Happiness

22993_thpbkrh0916_mindfulness_1024x438 Nearly one-quarter of Americans owe more money on their credit cards than they have in emergency savings, according to a Bankrate.com study—meaning an unexpected expense like a car accident or medical bill could push them over the financial edge.

It could be our emotions pushing us into such debt.

A recent study found emotions are the primary influence on financial decisions. The connection between mindfulness and money is an important one to make, as financial worries are one of the highest sources of stress.

“Anxiety, loneliness, and sadness are just a few of the emotions that can lead to excessive spending,” said Amy Morin, a psychotherapist and author of “13 Things Mentally Strong People Don’t Do,” in a recent U.S. News & World Report article.

Managing these types of emotions can be the first step in managing finances. And mindfulness could be one of the keys to success.

Even though the topic of mindfulness training has grown in popularity recently, the practice has been around for thousands of years. Mindfulness is described as being attentive, aware, and nonjudgmental. It’s focusing attention only on the present by experiencing thoughts, feelings, and sensations.

Benefits of this practice include more rational decision-making, patience, compassion, heightened body awareness, increased productivity, plus less stress and anxiety.

Mindfulness doesn’t need to be a 20-minute meditation to be effective. On your next walk, notice the feeling of your feet on the ground, observe the sights and sounds around you, and focus on the present moment. During your morning coffee, feel the warmth of the mug in your hand, sit comfortably, and take in the aroma. The key is taking the time to slow down and live in the moment.

If you have a little more time, there are apps that take the guesswork out of mindfulness and meditation, including: Headspace, Omvana, The Mindfulness App, and Meditation Experience.

These simple steps may help you keep your emotions under control, live a more mindful life, and create a clearer path toward your financial goals.