MINNEAPOLIS, Minneapolis — 2020 offers everyone a clean slate, personally, professional and financially.
Our minds are a powerful tool that can help us achieve our goals in the New Year and beyond! When we really take the time to understand why we make certain decisions with our money, we can greatly improve our lives.
Keep in mind, we don’t have to fix everything at once. However, if we vow to be more mindful of our money we can come closer to achieving financial success. That’s according to Nick Foulks, Director of Advising at Great Waters Financial.
A recent survey reveals more than 20% of Americans don’t save any of their annual income. “We need to get in the mindset of saving with a purpose. I tell my clients to visualize exactly what they want to do in retirement," Foulks said. "Will you travel, move to a warmer climate or spend more time with family? Knowing how you want to spend your retirement will inspire you to work harder to achieve it.”
Foulks believes you need to know and consider all your options when planning for the future.
Mindfulness is defined as state of awareness, paying attention to our thoughts and actions. Resolving to be mindful of our money in 2020 is resolving to keep our finances top of mind.
“When we don’t pay attention to where our money is going, it can be detrimental to our future. If we pay bills late or frivolously spend money on items we really don’t need, we could find ourselves approaching retirement with no money saved,” said Foulks.
Foulks shares FOUR ways to help us practice mindfulness with our money in 2020.
MONEY MINDFULNESS TIPS
- REVIEW YOUR FINANCES
- SAVE WITH PURPOSE
- PLAN FOR THE FUTURE
- PRACTICE EMOTIONAL AWARENESS
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