Financial Mindfulness

: Chris Lee Law Firm

  Filed under: Financial News

In a year of turbulence and economic challenges, people are focusing on self-care more than ever. When it comes to taking care of yourself and your family, focusing on self-improvement and goals can be a great distraction from the day to day.

Take, for example, the movement on “mindfulness”.

Definition: “Mindfulness” – the quality state of being aware of something; a mental state achieved by focusing one’s awareness on the present moment, while calmly acknowledging and accepting one’s feelings and thoughts.

You most often hear about mindfulness in the context of meditation or therapy. However, the framework can be applied to just about any aspect of your life you are seeking to improve.

Mind Over Matter

Financial hardships can happen to anyone, even the most financially prepared person. The truth is, financial insolvency doesn’t happen to just the unemployed or uninsured. Insolvency can be the result of divorce, chronic or severe medical needs, job loss or furlough, and much more. The problem is not in the financial hardship one faces, but how they respond to that hardship.

Debt is hard and it can cause a ripple effect into other aspects of your life. Therefore, when experiencing financial hardship or a growing debt burden, consider the following ways to use mindfulness to help you guide your path to financial freedom.

  1. Find a space to focus – Too often our finances are put on the back burner. In order to truly address your debt problem head on, you must acknowledge it and set aside a dedicated time and space for developing your plan.
  2. Sit in your space – Allow yourself to be uncomfortable. Allow your thoughts and feelings about your debt problems sink in and resonate with you. Instead of running from these uncomfortable thoughts, use them to motivate you to keep developing your debt relief plan.
  3. Focus on the present – Rather than fretting over your past, or worrying about your future financials, focus on your problem and your solution to solve your current money problems. You can deal with credit repair and more later; for now, focus solely on discovering and weighing your debt relief options.
  4. Seek counsel – While you may be able to seek debt relief help alone, you should always consider counsel from an experienced Dallas bankruptcy lawyer to help you make an educated decision regarding your path to debt relief.
  5. Return to the present – Once you have begun your path to financial freedom, remain in the present, focusing all of your energy working through your debt relief plan. Remain focused on your goals along the way until you have achieved the status of “debt free”!

Contact our Dallas bankruptcy attorney office today for more information and lessons on how to secure a financially free future.

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