Monday

"I make financial choices that align with my values."

Welcome to Monday! Today, we're chatting about:

• How to handle financial anxiety

• Everything you need to know about credit scores

• Wasting money on eye drops? Try this

• The 50-20-20-10 method for budgeting

• Creating moments of relaxation

Breaking Free from Money Worries

Money worries affect many people, regardless of income, and can lead to persistent stress and anxiety. According to financial therapists, the key to tackling financial anxiety is understanding its source and using effective coping strategies.

Start by identifying what triggers your anxiety, whether it’s day-to-day budgeting or big-picture fears like retirement savings. Once you pinpoint the source, you can begin addressing it directly. Challenging your negative money thoughts is another helpful technique. When you catch yourself spiraling into worst-case scenarios, ask yourself if those thoughts are truly helpful or accurate.

Physical relaxation techniques like deep breathing or shaking off tension can also provide relief when anxiety surfaces. For example, when you feel your heart racing over a bill, try taking a few deep breaths to help calm your nervous system.

If financial anxiety is affecting your ability to manage money, break the task into small steps. Educate yourself in manageable chunks and set aside time each week to focus on your financial goals. Finally, remember it’s okay to seek professional help if anxiety becomes overwhelming, whether through therapy or financial counseling.

What You Need to Know About Credit Scores

A credit score is a three-digit number that gives lenders insight into your credit behavior, helping them decide whether or not to approve you for loans or credit. A higher score can make it easier to get a loan, secure a rental, or even lower your insurance premiums. But understanding how it’s calculated and how to improve it can help you take control of your financial future.

Your credit score is determined by several factors, including payment history, outstanding balances, and the length of your credit history. It also takes into account how often you apply for new credit and the types of credit accounts you hold. Keeping an eye on these factors can help you understand what areas need improvement.

To check your credit score, you can view it on your credit or loan statements, talk to a credit counselor, use a credit score service, or buy it directly from one of the three major reporting agencies. Once you know your score, there are steps you can take to improve it. This includes paying loans on time, staying well below your credit limit, and making sure there are no errors on your credit report. Regularly reviewing and managing your credit can help ensure you're on the right track.

Are You Wasting Your Money on Eye Drops?

Here are 5 reasons drops won’t work for dry eyes and why you should be doing THIS instead.

PS - If you really care about your eye health…

Read this short article before you spend another penny on eye drops… (You are probably being misled).

Learn More

Thank you to NativePath for sponsoring Note To Self. 

Budgeting Strategy: 50-20-20-10 Method

If traditional budgeting feels restrictive, the 50-20-20-10 method might be exactly what you need to balance short-term enjoyment with long-term wealth-building. This modern method divides your after-tax income into four categories: 50% for essentials, 20% for personal desires, 20% for savings, and 10% for future goals. It's a flexible approach to managing money that doesn’t just focus on day-to-day spending but encourages building a sustainable financial future.

What sets the 50-20-20-10 method apart is its emphasis on future-focused investments. Unlike traditional budgeting, which focuses only on cutting back on spending, this method dedicates 10% of your income toward long-term goals, like furthering your education, launching a side hustle, or investing for the future. By doing so, it encourages you to invest in yourself, which ultimately leads to more wealth down the road.

To implement this method, start with the basics: Allocate 50% of your income to cover essentials like rent, utilities, and groceries. Then, automate 20% for savings, ensuring you're building a financial cushion for emergencies or retirement. The remaining 20% goes toward fulfilling personal desires, whether it’s dining out, hobbies, or a much-needed vacation.

Finally, dedicate 10% to your big-picture goals, like funding professional development or starting a business. This method not only keeps your finances on track but also motivates you to keep pushing toward your future ambitions.

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Parting Thoughts

• ✅ True or False: False. A budget is a plan that helps you align your spending with your values and goals.

• 🙋🏼‍♀️ Snapshot Of The Day: We'd love to see moments from our readers’ lives that they are proud of! If you recently accomplished an achievement, experienced a joyful moment, or are proud of a picture you have taken, be sure to capture it on camera and send it to us for a chance to be featured next week! 

• 💭 Final Self-Care Thoughts for Today: Money is personal. What works for someone else might not work for you, and that’s okay. Your values get to lead the way.

Enjoying Note to Self?

Know of a great self-care tip or article you'd love to share with the community? Want to send us pictures of you completing one of your self-care rituals? Email us at [email protected]!