Cultivating an “attitude of gratitude” helps lug us from engaging in the negative to recognizing what is positive in our lives.
Research has shown that gratitude can decrease stress, enhance our moods, and drastically improve our health and well-being. Everything in our lives can improve when we are grateful. And that includes our financial situation! Below are important money lessons.
As we toil to stay positive and focus on maintaining gratitude, here are three (3) real-world money lessons to be grateful for.
Money Lesson 1. Grateful to Change the Story about Debt
It is always possible to take control of your finances. The good news is that regardless of how you have steered your finances to this nib, you can always turn around the story and get a new start.
You often use your credit cards to live a lifestyle that is not sustainable. You love to go out to eat and would do it quite a bit. The reality is there is more money going out than is coming in, and you will find yourself in quite a predicament. After a while, things began escalating, and your electricity was shut off. If you persist in doing what you are doing, the situation will not change. Swallow your pride and make that first call to find help. And you will be thankful for the lessons that will help you understand how to handle finances responsibly.
Takeaways from this lesson:
- Make financial decisions with a long-term view.
- Do not let your pride hinder you from getting help.
- Friction forces can be your friend, and the constraint of debt can motivate you.
Money Lesson 2. Grateful for Building a Better Money Mindset
The impact of financial stress is an everyday challenge for many people. A Money and Mental Health Policy Institute study, says concerns about finances often lead to anxiety and stress. That stress can then further impact finances. The institute found that 46 percent of individuals with debt may also have a mental health detection and that 86 percent of individuals with debt and mental health issues said their debt makes their mental health issues worse.
Take this example. Max thought he was going to be a massive star. He had it all planned out. He grew up in a hard-working, middle-class family. They had some rough times but were thankful for being able to get by (barely). He remembers there being many ups and downs at home.
That mindset followed him for years into adulthood. He talks about how he thought about money early on. He explains he never thought that his financial decisions would follow him.
Max also discovered part of his challenges were due to a mental illness. Due to his financial issues and not having insurance, he did not seek the treatment he needed. He is working toward a bright future with his wife, who recently moved into their first home.
Whatever the financial challenges you face, putting healthy money habits in place can help manage financial stress.
Set up a spending plan to help as you work toward saving goals,
- Laud small victories;
- Get rid of debt; and
- Adopt new spending habits.
Money Lesson 3. Grateful for the Chance to Share Financial Know-How
Carly wanted to buy a house. Like many people, over time, she faced challenges with her finances. Carly did not grow up in a home where money and finances were discussed. She describes it as almost a “taboo” topic. Looking earnestly at the home-buying process, she realized she needed help. She and her son said they prioritized “things” over what was more important.
Carly said she began to understand she and her son had to learn not to prioritize material things over their future. Armed with a new mindset, she was able to purchase a home and set up a legacy of intelligent financial planning for her son.
These money lessons summarized above are real examples of personal money stories. When it comes to your money lesson, what can you implement for your future? The Law Offices Of Ronald E. Stadtmueller, a Debt help in San Diego, can legally resolve your overwhelming debts. We fight for your right to make a fresh start and free you from unmanageable debt and irritating creditors.
Trust us, for we draw on over 30 years of experience guiding clients in California through bankruptcy. Allow our attorney to help you regain a firm financial footing. We aim to help you achieve freedom from debt and start fresh. Let us evaluate your current financial situation and discuss the options available so you can regain control today. Contact the Law Offices of Ronald E. Stadtmueller to schedule your free consultation and learn important money lessons.